Sprint trio exit Clearwire board


Sprint trio exit Clearwire board

Michael Carroll  |   October 01, 2010
Three Sprint executives have quit the board of US Wimax operator Clearwire, in a move analysts say clears the way for fresh investment.
Sprint CEO Daniel Hesse, Keith Cowan and Steven Elfman resigned from the Sprint-controlled carrier Thursday, a few days after reports revealed Clearwire was seeking additional investment to fund its next round of network buildouts.
While Clearwire said the resignations were due to antitrust concerns analysts say the move is designed to make the carrier a more attractive prospect to potential investors, Bloomberg reported.
Kaufman Brothers analyst Ben Abramovitz said Sprint’s perceived stranglehold on Clearwire could have put new backers off.
Sprint holds a 54% stake in Clearwire and is entitled to appoint seven members to the operator’s 13-man board. Other investors include Comcast, Time Warner Cable, Bright House Networks, Intel Capital and Google.
The carrier met its target of signing up 2 million subscribers in 2010 by the end of the second quarter, and raised the figure to 3 million as a result.
Clearwire’s long-term deeper problem is the limited prospects for Wimax as a mobile technology. Because of the similarities of the Wimax and LTE core networks and air interfaces, it possibly retrofit its network to LTE via a software upgrade.
Its net loss for the quarter grew from $79 million in 2009 to $125.9 million in 2Q10, after a $79 million hit to cover inventory allowance increases.

MORE ARTICLES ON: 4GClearwireEarningsSprint, US

Michael Carroll

Frontpage Content by Category with Image

Sponsored by Tellabs
This webinar provides an in-depth look at the wireless backhaul landscape and the technology options that are available to mobile operators

Video from Telecom Channel

Wider internet reach would ease Bangkok traffic
Study finds higher internet penetration would cut traffic congestion in the capital by 10%, says Telenor's director of corporate responsibility.  


Robert Clark
But users will take the apps
Robert Clark
Time running out for HP
Roz Roseboro and Sourabh Kaushal/Analysys Mason
Maintains breakeven targets despite challenging conditions
Kamalini Ganguly/Ovum
700Mbps prototype proves technology is alive and kicking
Kate Gerwig
Equipment vendors losing to data center providers in war for hearts and minds
Alex Leslie/TM Forum
Keeping parity during mergers


Nokia has tapped Stephen Elop, an experienced software industry exec, as its new CEO. What are his chances?


Diana ben-Aaron and Meera Bhatia
As operators seek to take on Apple in mobile services
David Hashman/Knowledge Works LLC
Selections should be tied to current and future network requirements

Frontpage Content by Category

Telecomasia.net's most popular news stories, blogs, analysis and features in the first six months of 2010


Staff Writer
Networks can be hacked for $1500
Staff writer
Former Hitachi executive to lead the company's client relations and development in the region