Sprint Raises Clearwire Offer to $5 Per Share
Sprint today raised its bid for Clearwire from $3.40 per share to $5.00 per share, besting Dish Network's offer of $4.40 per share by 14%. Following the raised offer, Clearwire's board of directors has accepted the new bid and recommends that Clearwire's shareholders vote in favor of Sprint's proposal and not Dish's. In addition to the raised offer, Sprint also agreed to pay Clearwire a $115 million termination fee if the deal falls through under certain circumstances. According to Clearwire, Sprint's offer has the backing from a significant percentage of Clearwire's shareholders, including Comcast, Intel, and Brighthouse Networks, among others. Sprint hopes this final offer will give it the approval it needs among Clearwire's remaining investors. Earlier this week, Sprint filed a lawsuit against Dish seeking to prevent it from acquiring Clearwire after Clearwire's board recommended Dish's proposal be accepted. Dish has yet to respond to this latest move from Sprint.
Sprint's WiMax Shutdown May Halt Service for Charities
Sprint plans to deactivate its WiMax network on Nov. 6, but some charities say the change will eliminate internet service for some 300,000 Americans altogether.
Dish Says It Will Bid On 600MHz Spectrum
Dish Networks has told the FCC it intends to "meaningfully participate" in the reverse auction for 600MHz airwaves scheduled for next year. "The incentive auction offers opportunities for competitive providers and new entrants to bid on and win much-needed lowband spectrum, which will facilitate the deployment of mobile broadband services," said Dish Senior Vice President Jeffrey Blum in the filing with the agency.
Nonprofits Convince Judge to Delay Sprint's WiMAX Shutdown
Mobile Citizens, a not-for-profit organization that provides free and low-cost internet service to schools, has won an injunction preventing Sprint from shutting down its WiMax network. Sprint had planned to cease operating WiMax on Nov.
Dish May Bid In 600MHz Auction Next Year
Dish Network is evaluating whether or not to participate in the FCC's 600MHz incentive auction next year, according to an executive. The company might bid on airwave licenses even though it was recently denied a $3.3 billion discount on licenses it won in this year's AWS-3 auction.
Kinda Smart move for Dish upping the price?
That's a pretty penny over their initial purchase offer for Clear... Sprint needed Clearwire's spectrum holdings sorely.
Step 1: Pay a ridiculous premium for Nextel, chiefly to obtain the Nextel spec...