Craig McCaw News
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Clearwire Corp.’s board agreed to a sweetened, $2.97-a-share takeover bid from its wireless partner Sprint Nextel Corp., which is now offering $2.2 billion to acquire the portion of the company it doesn’t already own.
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Clearwire Corp. investor Mount Kellett Capital Management LP said Sprint Nextel Corp.’s $2.90- a-share offer to buy out the wireless-network company “grossly” undervalues its assets, including its airwaves.
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Sprint Nextel Corp. offered to acquire all of Clearwire Corp. in a $2.1 billion deal, ending a four-year joint venture that struggled to build a nationwide network capable of challenging Verizon Wireless and AT&T Inc.
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The best escape for shareholders of Clearwire Corp., a stock whipsawed more than any other in the Russell 1000 Index, would be locking in a bid from Sprint Nextel Corp., even at $3 a share.
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Sprint Nextel Corp., the company that agreed to sell 70 percent of itself to Softbank Corp., plans to acquire telecom pioneer Craig McCaw’s stake in Clearwire Corp., gaining a majority of the wireless carrier.
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Craig McCaw ’s quest to dominate the emerging era of fourth generation, or 4G, wireless networks began in a Maryland basement office back in 2003. There, McCaw’s representatives met with Rudy Geist, a lawyer with one client, a Spanish-language broadcaster that happened to be the largest licensee of the 2.5-gigahertz frequency of radio spectrum.
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Clearwire Corp., a company creating a nationwide high-speed wireless network using WiMax technology, said Chairman Craig McCaw will step down today.
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Sprint Nextel Corp. Chief Executive Dan Hesse said he may seek to buy out corporate investors in wireless venture Clearwire Corp. at the right price.
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Philip Falcone left his hometown of Chisholm in northern Minnesota’s rusting Iron Range in 1980 in the passenger seat of a 12-year-old Mercury Cougar that cost $150.
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Phil Falcone, founder of Harbinger Capital Partners, has made and lost billions with bets on mortgages and iron mines. Now, in a bid to build a new broadband network, he’s blasting investors money into space.
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