Settle down, folks: for the time being, this is a totally unsubstantiated rumor. VoIP columnist Rich Tehrani unleashed an editorial piece over the weekend where he muses philosophical about the rumors he's "been hearing" regarding a buyout of Sprint-Nextel by Google. While Tehrani fails to mention exactly who's been whispering in his ear, it doesn't take too much of a stretch to imagine how a Google/Sprint deal might make sense. After Sprint's deal with Clearwire fell out last week, it's become painfully clear that Sprint is going to need an infusion of cold, hard cash if it is to make good on its ambitious WiMAX plans. And we probably don't need to point out the fact that with or without WiMAX, Sprint hasn't been doing so hot lately.

So, we've established that Sprint is a prime target for acquisition--but why would Google want to buy? Well, as we've seen, Google is already dipping its toes in the mobile market, though it would be a bit of a leap for the company to enter the carrier space. Still, Google has expressed intentions to bid in the upcoming 700Mhz auction and it's hard to argue that the openness of Sprint's XOHM network wouldn't jive well with the big G's agenda. Could Google snap up Sprint-Nextel and make an even bigger splash in the industry by launching the first nationwide WiMAX network alongside Android? Given the size of Google's war chest, it's certainly within the realm of possibility--the only question that remains is whether or not Google is interested in playing the role of carrier.

For more on the rumor:
- see this TMCnet editorial