backtop


Print 3 comment(s) - last by mcnabney.. on Jun 12 at 10:28 AM

Sprint is moving on towards LTE and Clearwire remains focused on WiMAX

Sprint Nextel Corp. (S) was long the majority of Clearwire Corp. (CLWR), 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 much attention, 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 financial misery 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.

Clearwire
Sprint and Clearwire are slowly drifting apart in aim and investment. [Image Source: TNW]

Scott Sloat, Sprint spokesperson commented, "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. (CMCSA), Time Warner, Inc. (TWC), Google Inc. (GOOG), and Intel Corp. (INTC) are among the other major corporate holders of Clearwire shares.

Source: Reuters





Comments     Threshold


This article is over a month old, voting and posting comments is disabled

Sad
By inperfectdarkness on 6/12/2012 3:37:44 AM , Rating: 2
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.




RE: Sad
By mcnabney on 6/12/2012 10:28:58 AM , Rating: 3
What alternate dimension do you live in that Wimax is in any way better than LTE?


"Spreading the rumors, it's very easy because the people who write about Apple want that story, and you can claim its credible because you spoke to someone at Apple." -- Investment guru Jim Cramer



Latest Headlines
Inspiron Laptops & 2-in-1 PCs
September 25, 2016, 9:00 AM
The Samsung Galaxy S7
September 14, 2016, 6:00 AM
Apple Watch 2 – Coming September 7th
September 3, 2016, 6:30 AM
Apple says “See you on the 7th.”
September 1, 2016, 6:30 AM



Most Popular ArticlesAre you ready for this ? HyperDrive Aircraft
September 24, 2016, 9:29 AM
Leaked – Samsung S8 is a Dream and a Dream 2
September 25, 2016, 8:00 AM
Yahoo Hacked - Change Your Passwords and Security Info ASAP!
September 23, 2016, 5:45 AM
A is for Apples
September 23, 2016, 5:32 AM
Walmart may get "Robot Shopping Carts?"
September 17, 2016, 6:01 AM







botimage
Copyright 2016 DailyTech LLC. - RSS Feed | Advertise | About Us | Ethics | FAQ | Terms, Conditions & Privacy Information | Kristopher Kubicki