It's not much of a surprise at this point, but the Federal Communications Commission has approved the tri-company merger deal involving Japanese carrier SoftBank, Sprint, and Clearwire. The FCC ruling follows Justice Department approval several weeks ago, and some delicious drama that ended with Dish Network being shut out of the deal.
SoftBank is throwing $21.6 billion at Sprint to acquire a 78% stake in the company. Sprint is now also free to buy the remaining 49% of Clearwire it doesn't already own, giving it a big juicy slice of wireless spectrum. Read More
On today's episode of All My Mergers And Acquisitions, the long-running Sprint bidding war between Dish Network and Japanese carrier SoftBank appears to be over, at least for the moment. After SoftBank increased its Sprint bid to 21.6 billion dollars for 78% of the company last week, and Sprint subsequently sued both Dish and Clearwire for getting in the way of its corporate matchmaking, Dish has withdrawn its offer. According to Reuters, the company stated that submitting a new offer by today's deadline was not practical. Read More
We just got done breaking down the proposed Dish-led acquisition of Sprint which is in no small part about gaining control of Clearwire's sweet, sweet spectrum. Now we're hearing that Verizon is reportedly also throwing its bid in, but not to buy any of the companies involved. Just to gut their ability to function as wireless carriers by gobbling up spectrum.
In a recent filing, Clearwire disclosed that an unidentified "Party J" offered up to $1.5b for the airwaves that it owns. Read More
Sprint is currently in the midst of a buyout with Japanese company SoftBank that would give the foreign telecom control of not only the Now Network, but Clearwire as well, and infuse the company with some much-needed cash. Dish Network, however, hopes to derail these plans with a bid of its own, offering more cash than Softbank has on the table, as well as synergy with its existing television and and broadband packages. Read More
Break out the popcorn, folks, it's time for some corporate drama. As we reported last month, LTE service provider Clearwire is looking to sell itself, with 50% stake holder Sprint Nextel the obvious choice. But while Sprint's $2.2 billion offer (plus another $800 million in staggered investments) sits on the desks of both Clearwire shareholders and the Federal Trade Commission for approval, satellite TV provider Dish Network has made another offer. Read More
You know the drill by now. It's time for some new LTE market announcements! Woo! Party hard. The network rollouts today are coming to Pennsylvania, California, Indiana, Virginia and Puerto Rico. This comes on the heels of Sprint announcing its intention to purchase the remaining shares of Clearwire that it didn't already own.
Here's the list of new cities:
- Indianapolis/Carmel, Ind.
- Santa Rosa/Petaluma, Calif.
- Vallejo/Fairfield, Calif.
- Southern Puerto Rico (including Ponce, Coamo and Guayama)
- York/Hanover, Pa.
Today, Sprint announced that it would be spending $2.2bn to acquire the remaining (roughly) half of Clearwire that it doesn't already own. The transaction, which is naturally subject to regulatory approval, will give the carrier ownership of all of Clearwire's significant share of spectrum, which will be a huge boost to Sprint as it attempts to build out an LTE network to compete with Verizon and AT&T.
Of course, these deals can take forever to close, so in the meantime, the two companies have entered into a rather brilliant agreement: Sprint has promised to buy roughly $80m worth of Clearwire stock every month starting in January 2013 for up to ten months (or a total of $800m, and slightly more than 1/3rd of the total Clearwire purchase price). Read More
If you thought Google Fiber sounded like a game changer, you may want to keep an eye on this story. According to the Wall Street Journal, which has a history of having well-placed sources, Google has held talks with Dish Network discussing the possibility of partnering on a wireless carrier to compete with AT&T, Verizon, and all the rest. At first, it sounds like a pipe dream. The kind we've been hoping for since the G1. Read More
This news has been some time coming, but it finally looks like the time is nigh: Sprint WiMax will soon be available in three of America's hottest of hot-spots. While Sprint has had 4G-capable devices out for several months now, the country's two main technology centres have been starved of WiMax coverage. Sprint may fear the same backlash AT&T received when their network got hammered by the iPhone, so they must be hoping for a more positive reception. Read More
If you're one of over 4 million people living in Houston, TX, your mobile connection options just got a lot better. Clearwire, the company providing WiMax/4G service for Sprint, announced today the launch of its 28th US metropolitan market in the Houston metro area.
According to the press release,
… coverage extends as far north as Conroe and northeast as Kingwood; as far west as Katy and southwest as Richmond/Rosenburg; as far south as Alvin and southeast as Clear Lake; as far east as Baytown.