Clearwire
Clearwire Again Implores Shareholders to Vote For Sprint Offer
May 13, 2013 11:17 am | by Ben Munson | News | CommentsToday’s letter goes over the points outlined in a letter Clearwire sent to shareholders last week but this time, Clearwire comes armed with a new recommendation from Institutional Shareholder Services (ISS), an advisory firm that is now recommending Clearwire shareholders vote for the Sprint merger.
SoftBank CEO: Our Sprint Deal is Better Because of TD-LTE
May 7, 2013 10:09 am | by Ben Munson | News | CommentsSpeaking at a press conference, Son touted his company’s success in deploying TD-LTE over 2.5 GHz spectrum in Japan. He added SoftBank is better equipped to help Sprint deploy the same kind of service on the large swaths of 2.5 GHz Sprint stands to inherit should its $2.2 billion bid to buyout WiMax wholesaler Clearwire go through.
Clearwire Sends Letter to Stockholders, Urging Yes Vote on Sprint Bid
May 6, 2013 10:32 am | by Ben Munson | News | CommentsClearwire outlined its exhaustive efforts to turn around its fortunes in the WiMax wholesale market in a letter sent Monday to stockholders. But the company continually returned to the conclusion that Sprint’s $2.97 per share offer (translating to nearly $2.2 billion for shareholders) was not only the best deal but really the only deal that would save Clearwire before its liquidity runs dry.
Clearwire Draws Sprint Funding for Third Straight Month
April 30, 2013 8:55 am | by Ben Munson | News | CommentsAfter declining funding from Sprint in January and February, Clearwire has elected to take the funding for May, making it three straight months of $80 million draws for a grand total of $240 million. The initial offer from Sprint totaled $800 million to be lent...
Report: Clearwire Might Default if Sprint Bid Not Approved Soon
April 16, 2013 9:23 am | by Ben Munson | News | CommentsClearwire is considering defaulting on a $255 million interest payment due in June, which is based on nearly $4.5 billion in debt. Reuters dug into the company’s proxy filing from last week and saw that the company might consider bankruptcy if Sprint’s proposed acquisition is not approved by shareholders.
Analysts Weigh-In on Dish’s Offer to Sprint
April 15, 2013 3:32 pm | by Ben Munson | News | CommentsDish Network unleashed a whole lot of disruption Monday morning when it announced a $25.5 billion offer to merge with Sprint. The unsolicited bid threw a big wrench into Softbank’s $20-billion deal for Sprint. Roger Entner, founder of Recon Analysts, sees Dish’s offer playing out in terms of more money for Sprint’s investors.
Dish Leapfrogs Softbank With $25.5 Billion Bid for Sprint
April 15, 2013 10:26 am | by Ben Munson | News | CommentsDish Networks this morning announced a $25.5 billion merger bid for Sprint, a deal it says represents a 13 percent premium over the value of Softbank’s current offer to acquire the Kansas City-based carrier. Dish’s offer consists of $17.3 billion in cash and $8.2 billion in stock.
Hedge Fund Offers Clearwire Additional $80M in Financing
April 10, 2013 10:50 am | by Ben Munson | News | CommentsAurelius Capital Management has offered Clearwire $80 million in funding to further entice the WiMax wholesaler away from Sprint’s funding offer. In a letter to Clearwire’s board, Aurelius explains that its financing offer would be on similar terms to that of Sprint’s...
Investor Offers Clearwire $240M Alternative to Sprint’s Money
April 4, 2013 10:41 am | by Ben Munson | News | CommentsCrest Financial Limited has offered Clearwire $240 million in financing as an alternative to the $80 million per month funding draw Sprint has been giving to the WiMax wholesaler. The offer is meant to provide Clearwire with more time to consider alternatives to Sprint’s offer of $2.97 per share to buy the roughly 50 percent of Clearwire it doesn’t already own.
Sprint, Softbank Near U.S. Deal to Restrict Huawei Gear
March 29, 2013 9:52 am | by Ben Munson | News | CommentsThe New York Times reports that Sprint and Softbank, the Japanese cellular company that intends to buy 70 percent of the U.S.’s third largest carrier, are expected to allow the U.S. government oversight in its choice of network suppliers.
Clearwire Takes Another $80 Million From Sprint
March 28, 2013 10:39 am | by Ben Munson | News | CommentsClearwire has opted to draw $80 million in funding for April from Sprint, as part of the carrier’s proposed offer to buy the WiMax provider for $2.97 per share. Clearwire accepted the draw for March despite Dish’s insistence it would withdraw its offer to buy the remaining half of Clearwire for $3.30 per share.
Dish Urges FCC to Squeeze Sprint, Clearwire Deal
March 21, 2013 10:29 am | by Ben Munson | News | CommentsAccording to a regulatory filing, Dish urged the FCC to insist Softbank and Sprint fully divulge their plans for utilizing the spectrum licenses they stand to inherit from Clearwire. In addition, Dish reiterated that the FCC should apply its spectrum screen to Clearwire’s 2.5GHz airwaves.
Crest Wants List of Clearwire Shareholders in Bid to Block Sprint Deal
March 20, 2013 9:47 am | by Ben Munson | News | CommentsCrest Financial Limited has demanded a list of Clearwire’s shareholders and hired a proxy-solicitation firm to help in its fight to block Sprint’s proposed acquisition of Clearwire. Crest owns 3.9 percent in common stock of Clearwire. Sprint owns more than 50 percent of Clearwire.
Report: Sprint’s Valuation of 2.5 GHz Spectrum on Target
March 13, 2013 10:50 am | by Ben Munson | News | CommentsSprint’s offer to buy Clearwire for $2.97 per share works out to $0.21 per MHz POP for the 2.5 GHz spectrum, placing it above the valuation of near $0.14 per MHz POP, a conclusion reached by a new white paper, commissioned by Sprint, from Dr. Kostas Liopiros of the Sun Fire Group.
Former FCC Commissioner Claims Clearwire Spectrum Undervalued in Sprint Deal
March 12, 2013 3:37 pm | by Ben Munson | News | CommentsIn a new report, former FCC commissioner Dr. Harold Furchtgott-Roth and the Analysis Group claims that Sprint’s proposed $2.97 per share offer to take control of Clearwire vastly undervalues the WiMax provider’s spectrum holdings. The report states that at the current offer represents $0.11 per MHz POP when it should be valuing at $0.31-$0.50 per MHz POP.
Clearwire Draws Sprint Funding, Could Complicate Dish Offer
February 27, 2013 9:46 am | by Ben Munson | News | CommentsClearwire has elected to accept the $80 million draw from Sprint for March, while continuing to discuss acquisition offers from both Sprint and Dish. Dish has said that it will withdraw its offer of $3.30 per share to buy the remaining 50 percent of Clearwire if the WiMAX provider drew any of the funding offered by Sprint.
Ergen: Dish Has Time to Mull Many Options for Wireless
February 21, 2013 10:20 am | by Andrew Berg | News | CommentsDish Network Chairman Charlie Ergen said his company has plenty of time to decide how to use its spectrum, which was recently approved by the FCC for use in deploying an LTE-Advanced wireless network. "I think the focus for the next year will be to figure out what the best path...
Hesse: Sprint Looking for More Spectrum
February 20, 2013 10:39 am | by Ben Munson | News | CommentsSprint CEO Dan Hesse said his company is seeking to acquire more wireless spectrum in order to stay competitive with AT&T and Verizon. In an interview with Bloomberg, Hesse said Sprint hopes to scoop up more of the precious commodity by either buying it from other companies or from the government.
Clearwire Subscribers Dwindle 8% in 4Q to 9.6 Million
February 13, 2013 11:02 am | by Andrew Berg | News | CommentsAs both Dish Network and Sprint haggle for control of Clearwire, the WiMax provider Tuesdauy delivered up disappointing fourth quarter results, proving once more that its spectrum is its most valuable asset. Clearwire ended the fourth quarter 2012 with approximately 9.6 million total...
Dish: Without Wireless Partner, Selling Spectrum an Option
February 12, 2013 10:21 am | by Andrew Berg | News | CommentsDish Chairman Charlie Ergen reiterated that his company will sell its AWS spectrum, if it can’t find a suitable partner to help it deploy an LTE-Advanced wireless network. Ergen made the comments yesterday at the Wall Street Journal’s All Things D conference...
Sprint Posts Record 4Q Revenue, $1.3 Billion Loss
February 7, 2013 10:46 am | by Andrew Berg | News | CommentsWhile fourth-quarter 2012 Sprint platform wireless service revenue was up 12 percent to a record $7 billion, the Kansas City-based carrier still swung to a quarterly loss of $1.3 billion. The company said the loss was primarily due to network improvements...
Cleawire Keeps Deal Talks Open With Both Sprint and Dish
February 1, 2013 10:39 am | by Ben Munson | News | CommentsIn a proxy statement filed with the Securities and Exchange Commission, the Wi-Max provider said the special committee reviewing the deal has not made any determination to change its current recommendation of the Sprint transaction. But, Clearwire has not taken an $80 million February draw, part of an agreement in which Sprint will buy $80 million in exchangeable notes per month for up to 10 months.
Dish Lays off Sprint, Softbank Deal
January 30, 2013 10:31 am | by Andrew Berg | News | CommentsDish Network told the FCC that it would not file to block Softbanks' proposed $20 billion acquisition of Sprint. In January 16 filing, Dish had asked that the shot clock in the Sprint, Softbank proceeding be paused until Sprint's bid for Clearwire...
Verizon Wants FCC's Spectrum Screen Applied to Sprint, Clearwire Deal
January 29, 2013 2:40 pm | by Ben Munson | News | CommentsVerizon Wireless has filed with the FCC comments on Sprint's potential acquisition of Clearwire, stating that the Commission should apply its spectrum screen to the swath of 2.5 GHz airwaves in question to determine if the potential deal poses spectrum aggregation concerns.
Clearwire Files Opposition to Crest's Petition for Reconsideration
January 15, 2013 10:08 am | by Ben Munson | News | CommentsClearwire filed with the FCC an opposition to Crest Financial's earlier petition to reconsider the Eagle River Holdings deal from 2012 which gave Sprint a controlling interest in Clearwire. In Clearwire's new opposition, dated Jan. 14, the Wi-Max provider states Crest's petition "provides no credible basis for the FCC to reverse its actions" and should be "promptly denied."
