clearwire

LAS VEGAS -- Sprint's sweetened bid for Clearwire represents its "best and final" offer, Sprint CEO Dan Hesse told CNET on the sidelines of the CTIA Wireless show here Tuesday.

"You can take that to the bank," he said.

Sprint earlier today raised its offer for Clearwire to $3.40 a share, valuing the company at $10.7 billion. The offer is a substantial premium over its original $2.97 a share offer, and 10 cents a share more than Dish Network's competing bid for Clearwire.

Clearwire shareholders had been agitating for a better … Read more

Sprint has decided that it doesn't want to let Clearwire out of its sights.

The company on Tuesday announced that it has revised its $2.97-per-share offer for Clearwire to $3.40 per share. The increased offer represents a 14 percent increase from Sprint's previous offer, valuing Clearwire at $10.7 billion. More importantly, it's 10 cents higher than the $3.30-per-share offer made by Dish.

Sprint already owns about 50 percent of Clearwire. The company had previously said that its offer was superior to the one Dish brought to Clearwire earlier this year, and Clearwire's board agreed. … Read more

Clearwire's board of directors has gone through the due diligence evaluating buyout deals and all paths have led it to one conclusion: go with Sprint.

In a letter the board wrote to shareholders on Monday, Clearwire's directors urged their fellow shareholders to accept Sprint's merger deal with the company when they can vote on the transaction next week. In the letter, which was signed by Executive Chairman John Stanton, the board used the advice of analysts, its own evaluation of the deal, and help from an independent shareholder advising organization, called Institutional Shareholder Services, to make its … Read more

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