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 Send to email | Sprint Nextel (S) Affiliate iPCS Sues Sprint Over Clearwire (CLWR) Deal, Wants In in SPDFCLWRIPCS |  By Silicon
el 12-May-2008 |
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 A potential new hurdle in the way of Sprint's deal to spin off its super-fast WiMax wireless network into Clearwire (CLWR): A lawsuit filed today by Sprint Nextel (S) affiliate iPCS (IPCS).
In a complaint filed in a Illinois Circuit Court, iPCS alleged that Sprint's deal with Clearwire violates its exclusive right to sell service in certain geographic areas. iPCS wants the court to prevent Sprint and Clearwire from closing their deal until it accounts for iPCS's exclusivity rights.
Sprint and iPCS are no strangers in court: They've been in legal battle for three years, mainly regarding iPCS's exclusivity rights. Because of this, Sprint had already asked a Delaware court for a "Declaratory Judgment that Sprint's affiliate agreements with iPCS in no way prevent the operation of the new Clearwire in iPCS territory," a Sprint rep said by email. "This latest action by iPCS is simply a response to our request," he said.
iPCS, meanwhile, says Sprint is trying to evade an Illinois judgment that requires Sprint to "cease owning, operating and managing the Nextel network in iPCS Wireless's territory," in a release (PDF).
Tiny iPCS has about 640,000 wireless subscribers in seven states in and around the Midwest. The conventional wisdom is that someday Sprint will buy iPCS (market cap $495 million) in a tuck-in acquisition. So far, no deal, but the market is excited today: iPCS shares are up 6.5% on the news of the suit. Sprint shares, meanwhile, are down 2.3% after reporting lousy Q1 earnings this morning.
See Also:
Is Sprint-Clearwire Doomed From The Start?
Sprint, Clearwire Join Cable, Tech Companies For WiMax JV
Sprint Nextel (S) Q1 Loss Widens As Customers Depart, Layoffs Coming?
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| Sprint, Clearwire Join Cable, Tech Companies For WiMax JV | | Sprint finally gets its WiMax deal: As soon as tomorrow, it's expected to announce a $12 billion joint venture with Clearwire (CLWR) to sell wireless Internet and phone service, the WSJ reports.
A long list of backers includes Comcast (CMCSA), which will contribute $1.05 billion; Intel (INTC), which will kick in $1 billion; and Google (GOOG), which will contribute $500 milion. The JV, ma [..] Read complete article | | Published 06-May-2008 by Silicon in SVZCLWRTWCTDTCMCSAGOOGINTCAAPL
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| Comcast, Time Warner Cable To Fund Sprint-Clearwire WiMax Venture? | | Comcast and Time Warner Cable, the two biggest U.S. cable companies, are in talks to fund a wireless joint venture that would be run by Sprint Nextel and Clearwire, the Wall Street Journal reports ($).
According to the plan, Comcast (CMCSA) would kick in $1 billion, Time Warner Cable (TWC) would contribute $500 million, and Bright House, Google (GOOG), and Intel (INTC) could also fund th [..] Read complete article | | Published 25-Mar-2008 by Silicon in SVZCLWRTWCTCMCSAINTCGOOG
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| Sprint's WiMax Delays Will Make The '4G' Format War Worth Watching | | When will Sprint Nextel's (S) WiMax network get off the ground? Anyone's guess now: The launch has been postponed (again) from this month to "later this year" to work out logistics, a Sprint rep tells TheStreet.com.
What does this mean? With every delay, Sprint is losing some of its early advantage against rivals AT&T (T) and Verizon Wireless, which won't launch rival "4G," or "fourth ge [..] Read complete article | | Published 03-Apr-2008 by Silicon in ST
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