It's another instance of the new economy meeting the old. Sprint (NYSE:S) and Time Warner's (NYSE:TWX.DL) Time unit have signed a collaboration accord. The deal will cover numerous aspects of content provision, advertising, and retail sales.

Time will provide its content, updated in real time, through the telecom provider's SprintZone app. As for advertising, the two companies will join forces by utilizing both Time's mobile network and Sprint's advertising service Pinsight Media+.

In the retail sphere, Time will supply its content for Sprint's stores. The phone service provider said this will allow it to demonstrate the capabilities of the devices the company offers.

The terms of the deal were not made public.