Sprint doesn’t need Clearwire
November 9th, 2007 | by Admin |The Sprint/Clearwire deal is off! Sprint is still planning on furthering their WiMAX plans alone. Good for them! The internet on my Sprint cell phone used to tether to my computer when Clearwire was down, and it would actually be faster on an at-the-time non-EvDO network. So, I’m sure Sprint could do it right.
Also, as of this posting – Clearwire’s stock is down 22% from yesterday.
[Source: Sprint]
Sprint Nextel and Clearwire Terminate WiMAX Letter of Intent
Sprint reiterates WiMAX commercial launch in 2008
RESTON, Va.–(BUSINESS WIRE)–Nov. 9, 2007–Sprint Nextel (NYSE: S) and Clearwire (NASDAQ: CLWR) have mutually agreed to terminate the Letter of Intent (LOI) signed in July 2007. The two companies could not resolve complexities associated with the LOI and failed to reach final agreement on the terms of the transaction.
Sprint remains fully committed to developing WiMAX services and deploying a WiMAX network that will allow customers to realize the benefits of a mobile broadband Internet experience. Sprint expects to continue to work together with Clearwire on future opportunities to enhance the deployment of robust WiMAX capabilities through ongoing discussions that include the possibility of roaming, frequency interference coordination, spectrum exchanges, technology evolution and development and network standards.
“We are on track for soft launch late this year in the Chicago and Baltimore/Washington markets and commercial launch in 2008,” said Keith Cowan, Sprint’s president of Strategic Planning and Corporate Initiatives. “In line with Sprint’s mandate of improving the customers experience and simplifying our operations, we look forward to working with Clearwire on opportunities such as roaming and standards.”
In light of this announcement, Sprint is reviewing its WiMAX business plans and outlook and the company expects to comment further on these topics early next year.
Sprint intends to provide services under the Xohm(R) brand, supported by an ecosystem of device, chip and other partners, including Intel, Motorola, Nokia and Samsung. The company also has selected Google to bring search, interactive communications and social networking tools through a new mobile portal to future WiMAX mobile Internet customers.
About Sprint Nextel
Sprint Nextel offers a comprehensive range of wireless and wireline communications services bringing the freedom of mobility to consumers, businesses and government users. Sprint Nextel is widely recognized for developing, engineering and deploying innovative technologies, including two robust wireless networks serving about 54 million customers at the end of the third quarter 2007; industry-leading mobile data services; instant national and international walkie-talkie capabilities; and a global Tier 1 Internet backbone. For more information, visit www.sprint.com.
Safe Harbor
This news release includes “forward-looking statements” within the meaning of the securities laws. The statements in this news release regarding plans for the development and deployment of a broadband network based on WiMAX technology; the timing, availability, capabilities, coverage, and costs of the WiMAX network; products and services to be offered on the WiMAX network; and other statements that are not historical facts are forward-looking statements. The words “estimate,” “project,” “forecast,” “intend,” “expect,” “believe,” “target,” “providing guidance” and similar expressions are intended to identify forward-looking statements. Forward-looking statements are projections reflecting management’s judgment and assumptions based on currently available information and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements.
Future performance cannot be assured. Actual results may differ materially from those in the forward-looking statements due to a variety of factors, including, but not limited to:
* the uncertainties related to the implementation of the company’s WiMAX business strategies;
* the costs and business risks associated with deploying a WiMAX network and offering products and services utilizing WiMAX technology;
* the inability of third party suppliers, software developers and other vendors to perform requirements and satisfy obligations necessary to create the products and software designed to support WiMAX features and functionality;
* the impact of adverse network performance;
* other risks referenced from time to time in Sprint Nextel’s filings with the Securities and Exchange Commission, including in the Form 10-K for the year ended December 31, 2006, in Part I, Item 1A, “Risk Factors.”
One Response to “Sprint doesn’t need Clearwire”
By william on May 14, 2008 | Reply
hate to tell u the bad news but here ya go
Information in these materials includes “forward-looking statements” within the meaning of the securities laws. The statements in these materials regarding agreements between Sprint Nextel Corporation (“Sprint”) and Clearwire Corporation (“Clearwire”) and the investors and the benefits to Sprint and Clearwire of the arrangements contemplated by the agreements; plans for the development and deployment of a broadband network based on WiMAX technology; the timing, availability, capabilities, coverage, and costs of the WiMAX network; products and services to be offered on the WiMAX network; and other statements that are not historical facts are forward-looking statements. The words “will,” “would,” “may,” “should,” “estimate,” “project,” ”forecast,” “intend,” “plan,” “expect,” “believe,” “target,” “designed” and similar expressions are intended to identify forward-looking statements. Forward-looking statements are projections reflecting management’s judgment and assumptions based on currently available information and involve a number of risks and uncertainties that are beyond Clearwire’s control and that could cause actual results to differ materially from those suggested by the forward-looking statements.
Future performance cannot be assured. Actual results may differ materially from those in the forward-looking statements due to a variety of factors, including, but not limited to:
* the ability of Sprint and Clearwire to complete the merger and other transactions contemplated by the definitive agreements and satisfy the conditions thereunder, including obtaining Clearwire stockholder, FCC and Department of Justice approvals;
* the uncertainties related to the implementation of each company’s respective WiMAX business strategies;
* the costs and business risks associated with deploying a WiMAX network and offering products and services utilizing WiMAX technology;
* the ability of third party suppliers, software developers and other vendors to perform requirements and satisfy obligations necessary to create products and software designed to support WiMAX features and functionality, under agreements with one or both of Sprint and Clearwire;
* the impact of adverse network performance;
* rapid changes in technology and industry standards;
* industry competition;
* protection of proprietary rights; and
* other risks referenced from time to time in each company’s respective filings with the Securities and Exchange Commission, including in the Forms 10-K for the year ended December 31, 2007, in Part I, Item 1A, “Risk Factors.”
Sprint and Clearwire believe the forward-looking statements in these materials are reasonable; however, you should not place undue reliance on forward-looking statements, which are based on current expectations and speak only as of the date of this release. Forward-looking statements that are believed to be true when made may ultimately prove to be incorrect. Sprint and Clearwire are not obligated to publicly release any revisions to forward-looking statements to reflect events after the date of these materials.
Important Additional Information will be filed with the SEC
In connection with the proposed transaction, a registration statement on Form S-4 will be filed with the Securities and Exchange Commission (the “SEC”). CLEARWIRE SHAREHOLDERS ARE ENCOURAGED TO READ THE REGISTRATION STATEMENT AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE, INCLUDING THE PROXY STATEMENT/PROSPECTUS THAT WILL BE PART OF THE REGISTRATION STATEMENT, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE MERGER AND RELATED TRANSACTIONS. The final proxy statement/prospectus will be mailed to shareholders of Clearwire. Investors and security holders will be able to obtain the documents free of charge at the SEC’s web site, http://www.sec.gov, or from Clearwire Investor Relations at investorrelations@clearwire.com.
Participants in Solicitation
Clearwire and its directors and executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies in respect of the merger and related transactions. Information concerning Clearwire’s participants is set forth in the proxy statement dated April 29, 2008 for Clearwire’s 2008 annual meeting of shareholders as filed with the SEC on Schedule 14A. Additional information regarding the interests of participants of Clearwire in the solicitation of proxies in respect of the merger and related transactions will be included in the registration statement and proxy statement/prospectus to be filed with the SEC.
good luck and kiss yer ass goodbuy cause these scums will stop at nothing to rip u off and now there being back by intel,google,comcast,time warner and a few others