Clearwire as Mud
by John Paczkowski
Posted on December 1, 2008 at 1:10 PM PT
Ironic, isn’t it, that the nationwide WiMAX network created by the $14.5 billion merger of Clearwire (CLWR) and Sprint Nextel (S) is to be rebranded as “Clear,” since the joint-venture transaction that spawned it is about as muddy as they come.
With $3.2 billion in investments from the likes of Comcast (CMCSA), Intel (INTC), Time Warner Cable (TWX), Google (GOOG) and Brighthouse Networks, the new Clearwire has quite a few masters to serve, though CEO Benjamin Wolff insists none will have a direct hand in the company’s operations. “We have very little in common with a joint venture,” he said during a conference call on Monday, claiming Clearwire’s investors have no say in the timing of network launches. Hard to believe that’s the case when a $1 billion investor like Intel holds a seat on Clearwire’s board. But if it is, Wolff’s lucky. Because with Verizon (VZ) and AT&T (T) planning to bring a competing fourth-generation network called LTE (long-term evolution) online in the next year or so, Clearwire can’t afford any unnecessary distractions lest it lose that all important time-to-market advantage. “The credit markets are lousy” will only work as an excuse for slowed deployment for so long …
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Comments
Intel needs to be smarter about its investments…be more aggressive than this type of utility play that’s expensive and overly complex in ownership
Posted by Sam Harrison at December 1st, 2008 at 12:43 pmPlease watch Carl Icahn’s 60 minute on You Tube about US CEO’s and the rest of the useless gangs at the top of many US companies.
He says that many are useless and they have failed many times in the past however, they are Frat boys who simply keep getting handed positions because of who they know or associate with.
Then read the bio of Perry Satterlee, you can be assured that this twit that drove Nextel Partners into the ground will continue his winning streak with Clearwire. But no big deal because when the dust settles he will walk away with his truck loads of money as he has done in the past.
Good luck
Posted by Carl Irrr at December 1st, 2008 at 2:46 pm