Clearwire Investor Wants Spectrum Sale Back on the Table
Pardus Capital Management, a firm that has invested in Clearwire, has sent a letter to interim Chief Executive Officer John Stanton asking that he reconsider his position on selling some of Clearwire's spectrum. Earlier this month, Stanton ruled out a spectrum sale as a way to increase capital. Pardus argues that the move is keeping Clearwire's stock artificially low ahead of a suspected Sprint buyout of Clearwire. Pardus believes that if Clearwire were to sell spectrum and raise capital, its stock price and overall value would also go up, meaning it could sell for a higher amount. Clearwire has been plagued by money problems, despite Sprint's recent commitment to give Clearwire $1 billion, and continues to seek out additional sources of funding. Clearwire acknowledged the receipt of Pardus' letter, but wouldn't offer comment on the matter.
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.
Sprint Shuffles Execs, Names New CFO
Sprint today made changes to its top executives and named a new chief financial officer. Sprint appointed Tarek Robbiati to the CFO position, where he replaces Joseph Euteneuer, who will leave the company.
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.
Sony Looking to Raise Capital for Image Sensor Business
Sony plans to issue new shares of stock for the first time in 26 years as it hopes to raise about $4 billion in capital. The company said it will spend the money on bolstering its image sensor business, which is seeing high demand from smartphone and tablet makers.
T-Mobile Implores FCC to Set Aside More Low-Band Spectrum
T-Mobile CTO Neville Ray filed a letter with the FCC asking it to raise the amount of spectrum set aside for competitive carriers in the forthcoming 600MHz reverse auction. The FCC has already agreed to reserve 30MHz of spectrum for carriers other than AT&T and Verizon.
did i read that right?
You read it right. By the way, what grade did you make in rocket science class?
Wait a minute, it doesn't take a rocket scientist to figure this stuff out
Asif S. Kidwai