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Technology Stocks : 4G - Wireless Beyond Third Generation
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To: Saturn V who wrote (861)11/9/2007 5:10:44 AM
From: FJB  Read Replies (1) of 1002
 
Paper: Sprint and Clearwire Splitting Up
Friday November 9, 1:54 am ET
Sprint and Clearwire Cancelling High-Speed Wireless Network Tie-Up, Wall Street Journal Says

NEW YORK (AP) -- Sprint Nextel Corp. and Clearwire Corp. are canceling their plan to combine the high-speed wireless networks the companies are building, according to The Wall Street Journal.
The complexity of the deal and the departure of Sprint Chief Executive Gary Forsee last month made it too difficult to finalize the deal, the paper said, citing unnamed people familiar with the matter.

Sprint and Clearwire representatives did not immediately return calls from The Associated Press late Thursday.

Clearwire has a network in some parts of the country based on WiMax technology, which is seen as an cost-effective successor or competitor to cellular broadband. Sprint plans to build a network based on the same technology at a cost of $5 billion through 2010, but Forsee's departure has called the future of those plans into question.

Reston, Va.-based Sprint's board has considered spinning off the WiMax unit and merging it with Clearwire, but a decision will probably wait till a new CEO has been appointed, the Journal reported.

Sprint and Clearwire announced their intention to join their networks in July. It was seen as a big boost for Kirkland, Wash.-based Clearwire, which was founded by cell-phone pioneer Craig McCaw.

biz.yahoo.com
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