Sprint Cuts Stake in Clearwire
June 11, 2012 2:52 PM
comment(s) - last by
Sprint is moving on towards LTE and Clearwire remains focused on WiMAX
Sprint Nextel Corp. (
) was long the majority of Clearwire Corp. (
), a publicly traded telecommunications company. Among Clearwire's recent accomplishments, it has perhaps been best known for deploying
Sprint's WiMAX network
, which gained the company
, but ultimately failed to significantly impact Sprint's subscriber stake.
While Clearwire still co-owns and operates much of the U.S. WiMAX network Sprint uses, the company's relationship has been diminished of late due to a couple of factors including Clearwire's
and the company's decision to refocus its WiMAX efforts on networks in regions like Spain that had
expressed more interest in the rival standard, LTE
Sprint previously cut its voting stake of shares to less than 50 percent. At the time it says it did so to avoid Clearwire's possible loan default hitting a default trigger on its own debt (which Sprint
has a lot of
). Now it says that despite Clearwire weathering the storm, it's reduced its overall stake of non-voting shares to its lesser stake.
Sprint and Clearwire are slowly drifting apart in aim and investment. [Image Source: TNW]
Scott Sloat, Sprint spokesperson
, "Now that our economic interest has fallen below 50 percent, we are reclaiming our full voting rights so that our voting rights and economic rights are once again aligned."
Expect the companies to perhaps drift a bit further apart as Sprint explores other options for its LTE efforts. Comcast Corp. (
), Time Warner, Inc. (
), Google Inc. (
), and Intel Corp. (
) are among the other major corporate holders of Clearwire shares.
This article is over a month old, voting and posting comments is disabled
6/12/2012 3:37:44 AM
I'm still very much a fan of WiMax > LTE...but just as with any format war, the best doesn't always win. Ask betamax about that.
6/12/2012 10:28:58 AM
What alternate dimension do you live in that Wimax is in any way better than LTE?
A barrel full of monkeys could do a better job here.
6/11/2012 5:09:38 PM
Perhaps Daily Tech can sign a contract with a zoo or primate research Center. Then they can replace their content editorial staff with monkeys. It may save money and would undoubtedly improve the quality of the content being posted here.
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