clearwire

Clearwire told shareholders in a letter sent on Monday that its best path lies in an acquisition by Sprint Nextel.

The letter laid out in extensive detail why Sprint's offer of $2.97 a share provides the best value for shareholders. Nowhere in the letter does it reference Dish Network's rival bid for Clearwire, which is actually higher at $3.30 a share.

According to Clearwire's board, Sprint's offer is the only legitimate one. The wireless broadband company said Sprint's offer represents "fair, attractive and certain value." The deal represents the culmination of … Read more

In the latest twist on the Sprint-Clearwire saga, Verizon Wireless apparently has entered the picture as a suitor for Clearwire's spectrum.

Verizon Wireless has offered to pay as much as $1.5 billion to acquire spectrum leases from networking company Clearwire, according to the Wall Street Journal, which cites people said to be familiar with the matter. The move would give the carrier "right to use airwaves currently controlled by Clearwire in big markets in the U.S.," the Journal said.

Word of the Verizon offer came hard on the heels of the announcement this morning that … Read more

Sprint's buyout by Japanese carrier Softbank should be right on track for a late May conclusion, Julius Genachowski, chairman of the Federal Communications Commission, hinted today.

Specifically, the FCC head said that his organization's review is on schedule with the typical 180-day review period, after which the FCC hands down a yay or nay decision. In this case, the 180-day count ends on May 29.

Just because the process is going well, doesn't mean it's a done deal. Even with full FCC approval, the Justice Department, FBI, and Department of Homeland Security could still stall the … Read more

Clearwire is tapping into the $800 million pool of financing Sprint has offered the company in a move that will likely make it more difficult for Dish Network to continue its bid for the carrier.

Clearwire said Thursday in a statement that it will take $80 million in financing from Sprint, which already owns a 51 percent stake in Clearwire, but is trying to buy the remaining shares. As part of its deal announced in December, Sprint agreed to pay Clearwire $2.2 billion and provide the company with up to $800 million in financing.

Meanwhile, satellite TV provider Dish … Read more

Sprint Nextel is in for a massive overhaul.

The nation's third-largest wireless carrier will finally rid itself of the Nextel albatross -- both the service and the name -- by the end of the first half of the year. It will merge with SoftBank, giving it access to cash to speed its network deployment. It will also acquire full control of Clearwire, giving the company the best spectrum position in the nation, according to one industry official.

The changes represent a massive identity shift for Sprint, and one that brings hope and optimism to the company and its leadership. … Read more

Sprint probably can't wait to excise the Nextel part of its business.

The Overland Park, Kan., wireless carrier reported hefty fourth-quarter subscriber losses on the Nextel side, with more than 1 million customers leaving the service, easily offsetting the gains made on its core Sprint business. In total, it lost 337,000 net customers.

Sprint posted a loss of $1.32 billion, or 44 cents a share, compared with a year-ago loss of $1.3 billion, or 43 cents a share. Revenue, however, rose to $9 billion.

The results were better than expected. Analysts, on average, forecast a per-share … Read more

Clearwire continues to like Sprint's buyout offer, but isn't ruling out a bid from Dish Networks just yet.

In a "Transaction Update" released today, Clearwire said that its Special Committee charged with determining the value of both Sprint's and Dish's offers "has not made any determination to change its recommendation of the current Sprint transaction." That said, the committee added that it will continue to hold discussions with Dish, "as appropriate," to make a final determination.

Sprint Nextel last year announced plans to acquire the remaining 50 percent of Clearwire … Read more

More Clearwire shareholders are adding their voice to the ever growing number of investors asking Sprint to raise its bid for the company, following Dish Network's higher -- albeit unsolicited -- offer.

Glenview Capital Management plans to reject Sprint's current bid of $2.97 per share, which was capped by Softbank, an investment company that's seeking to take a majority stake in the carrier. Another Clearwire investor, Taran Asset Management, will file a complaint with the U.S. Federal Communications Commission (FCC), arguing that the mobile broadband company is worth more than Sprint's offer, according to Bloomberg, … Read more

Dish Network has asked the U.S. Federal Communications Commission to pause its review of Softbank's proposed $20.1 billion acquisition of Sprint.

When Japanese carrier Softbank acquired a 70 percent stake in Sprint in October, it provided Sprint with the cash to acquire the Clearwire shares it didn't already own. Sprint has been floundering in the cellular market for some time, and made the Clearwire bid to acquire greater spectrum and more customers.

Sprint offered to buy remaining Clearwire shares for $2.90 apiece. Softbank then capped the bid at $2.97 per share and wouldn't … Read more