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WiMax dealt another blow: new Sprint phones to be LTE-only

Sprint is putting another nail in its WiMax coffin by confirming at an Orlando mobile carrier conference that it will no longer release new WiMax phones, instead relying on devices that run on its upcoming LTE 4G network. It’s news likely to be watched closely by Bellevue-based wireless broadband provider Clearwire, which has received a… Read More

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Clearwire to raise up to $345 million in stock offering

Clearwire just announced plans to raise up to $345 million by selling additional shares of stock, part of the mobile broadband company’s strategy to address its cash crunch. “The company plans to use the net proceeds for general corporate and working capital purposes, including the deployment of mobile 4G LTE technology alongside the mobile 4G… Read More

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Sprint throws Clearwire a $1.6 billion lifeline in funding deal

Clearwire and Sprint this morning announced a new agreement that could provide Clearwire with as much as $1.6 billion over the next four years. With the deal, the Kirkland-based wireless broadband company announced that it has made a $237 million debt payment that it had considered skipping to preserve cash. Also of note: The companies… Read More

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Clearwire considers skipping debt payment, shares plunge

Shares of Kirkland-based mobile broadband company Clearwire fell more than 20 percent in trading today after its CEO told the Wall Street Journal that it’s contemplating skipping a $237 million debt payment, due Dec. 1, to help conserve its cash. “It’s a very expensive payment that we have,” said Erik Prusch, the company’s CEO since… Read More

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Report: Sprint may buy Clearwire outright to solve funding crisis

Sprint, already the majority owner of Kirkland-based wireless broadband company Clearwire, is in talks with other investors that could result in Sprint owning Clearwire outright, according to a Bloomberg News report this morning, citing three anonymous sources familiar with the discussions. Bloomberg cautions that the talks are still preliminary. It’s the latest in a string… Read More

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Clearwire shareholder to CEO John Stanton: Time to sell some spectrum in order fill ‘cash hole’

Clearwire faces a nagging “cash hole in its business plan and Sprint is the only game in town to fill it.” That’s the opinion of New York money manager Pardus Capital whose president, Karim Samii, just wrote a 2,257-word letter to Clearwire interim CEO John Stanton explaining his dissatisfaction with the direction of the Kirkland… Read More

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After a long squabble, Sprint agrees to invest $1B in Clearwire

Negotiations between Clearwire and Sprint Nextel have been going on for months, sometimes heated and often playing out in the press. But the two companies have finally resolved their differences, with Sprint agreeing to pay $1 billion through 2012 to utilize the Clearwire high-speed network. “We are pleased to reach this wholesale pricing agreement with… Read More