"Clearwire Selling off Spectrum for more funding
In what appears to be a last resort in garnering more funding, Clearwire (NASDAQ:CLWR) is aiming to sell some of its vast amount of spectrum to raise between $2.5 billion and $5 billion, according to a Bloomberg report.
Despite having big-named backers such as Sprint, which owns 54 percent of the company, Comcast, Intel and Time Warner, it appears that none of them want to plug additional money into the WiMAX operator.
Tensions have recently increased over the strategic direction of the company, according to published reports.
The Bloomberg report, citing unnamed sources familiar with the deal, said that AT&T Mobility (NYSE:T), Verizon Wireless (NYSE:VZ), Sprint Nextel (NYSE:S), T-Mobile USA parent Deutsche Telekom and Clearwire investor Time Warner have expressed interest in acquiring the spectrum.
So far the companies have engaged in two rounds of bidding, which is private and is being managed by Deutsche Bank, Bloomberg said.
Clearwire holds approximately 120 megahertz of spectrum in the 2.5 GHz to 2.6 GHz band.
Bloomberg said the operator is aiming to sell about 40 megahertz of that.
Clearwire has long touted its vast spectrum holdings as an operating advantage when it comes to network speed and capacity.
T-Mobile and Clearwire have been holding discussions about whether the operator will become a wholesale partner of Clearwire.
Recently, Sprint said it had no interest in taking ownership of the operator, while Comcast said it is unlikely to up its 9-percent interest. "
Source of Clearwire Corp Spectrum Sale Post
http://www.fiercebroadbandwireless.com/story/report-clearwire-selling-spectrum-more-funding/2010-10-13
Isn't T-Mobile in With Lightsquared? Look Deep, Smoke and Mirrors Everywhere on this MSS Spectrum Drama and HUGE money in the Soon to Be Biggest Industry in the U.S and Everywhere Really..
Time Warner Wants Spectrum?
Time Warner Inc. Stole a 13 Trillion Dollar Technology and Make Billions Monthly, as they have for over a Decade in the Stolen iViewit Technology So Why not just Steal Spectrum Jeffrey Bewkes, Time Warner CEO. And Why is the Ex-Time Warner General Counsel Curtis Lu REALLY the Lightsquared (Philip Falcone, Harbinger Capital) General Counsel Now?
Crystal L. Cox
Crystal@CrystalCox.com
Resources On Time Warner Inc. STEALING iViewit Technology
Resources On Time Warner Inc. STEALING iViewit Technology
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