JHelg Posted March 7, 2012 Share Posted March 7, 2012 I think this is about as official as it's going to get with Sprint. Unfortunately, I think this is going to go on for a few more months. The article states: "LightSquared, based in Reston, Virginia, has paid Sprint $310 million in advanced payments for work on the network and its eventual operation. Sprint said in a securities filing last month that it would keep about $236 million of those payments and return as much as $74 million if the agreement was terminated after the March 15 deadline. If LightSquared’s lenders approve changes to the agreement, Sprint’s right to terminate will be deferred until June 25, according to the filing." You never know, but based on how this has gone so far, I'm guessing there is still some life in Falcone's relationship with Sprint. I don't wish it were true, but it probably is. Thanks for the link brker_guy. Link to comment Share on other sites More sharing options...
Cardboard Posted March 8, 2012 Share Posted March 8, 2012 I think that after March 15 that Sprint will finally announce that it is done with Lightsquared. Actually, it better starts to move really fast to build a strong 4G LTE network since the new IPad and coming IPhone 5 will likely mean that 3G is now a legacy network. They won't be able to build that without Clearwire spectrum and so are many players as well. http://allthingsd.com/20120307/verizon-at-sprint-t-mobile-stuck-on-sidelines/?reflink=ATD_yahoo_ticker Regarding the offering from Google. It was not done at $1.60, but at $2.26 and to the public. That makes a whole lot more sense. Even when I "clean" my portfolio, I don't throw money away, but try to recuperate as much as I can. Cardboard Link to comment Share on other sites More sharing options...
Guest ValueCarl Posted March 8, 2012 Share Posted March 8, 2012 JHelg, I notice you didn't provide a full link for your copy and paste, but would you mind defining who the "lenders" are who might prevent Sprint from "terminating" this contract as far as to the end of this calendar year according to the filing? TIA The arrangement contains contingencies related to possible interference issues with LightSquared’s spectrum, including the right of Sprint to terminate the arrangement if certain conditions are not met by LightSquared. As of December 31, 2011, the Company had received $310 million of advanced payments from LightSquared for future services to be performed under the spectrum hosting agreement. Beginning in December 2011, through a series of amendments, the arrangement was modified to, among other things, extend the date in which Sprint has the right to terminate the arrangement and suspend Sprint’s obligation to incur any further cost or expense related to performance under the original agreement. Under the amended arrangement, Sprint, for any reason, including but not limited to FCC action or inaction, or no reason at all, may terminate the agreement after March 15, 2012 and before April 30, 2012. If LightSquared secures lender’s consent for modifications to the agreement, Sprint’s right to terminate will be deferred until June 25, 2012 and will continue through December 31, 2012. In addition, the parties definitively agreed that approximately $236 million of the total $310 million of advanced payments made by LightSquared represent payment for incremental costs or obligations incurred by Sprint under the original agreement in support of LightSquared. The parties agreed that this amount is irrevocably and unconditionally paid and will not be subject to dispute or claim by LightSquared. Accordingly, Sprint will refund up to approximately $74 million of Lightsquared’s initial prepayments, of which $65 million will be paid on the earlier of LightSquared’s lender’s consent or March 15, 2012, and the remaining $9 million will remain subject to the termination and unwind provisions of the original agreement and will be returned to LightSquared upon termination, less any additional incremental cost or obligations incurred by Sprint in support of LightSquared. In the event the arrangement is terminated for LightSquared’s material breach, non-payment or insolvency, Sprint maintains a second lien on certain of LightSquared’s assets, including spectrum assets. Link to comment Share on other sites More sharing options...
JHelg Posted March 8, 2012 Share Posted March 8, 2012 JHelg, I notice you didn't provide a full link for your copy and paste, but would you mind defining who the "lenders" are who might prevent Sprint from "terminating" this contract as far as to the end of this calendar year according to the filing? TIA Sorry, I was quoting from the Bloomberg article that brker_guy linked to. Here's the link: http://www.bloomberg.com/news/2012-03-07/sprint-said-to-plan-end-to-deal-with-falcone-s-lightsquared.html Regardless, I don't know which lenders this is referring to. Your paste from Sprint's 10-K indicates the same thing without specifying who the lenders are, so I'm not sure--could it be as simple as getting Harbinger Capital's approval? I guess that is why I'm skeptical that this will really be terminated. Off the top of my head, I don't know who else is lending money to LightSquared, and I don't know if it would require all lender's consent. Ultimately, I would think that all lenders would want to allow LightSquared from preventing Sprint's termination, as Sprint's termination of the agreement would, indeed, seem to be the death knell for LightSquared. Link to comment Share on other sites More sharing options...
Guest ValueCarl Posted March 8, 2012 Share Posted March 8, 2012 I hadn't noticed that reference point in Brker_guy's original link, so my bad, and that's why I went to the 10K for further confirmation. This being said, I know of at least two CRIMINAL OPERATORS hiding on the DEBT SIDE of the EQUATION embedded in L2'd. Your assumptions are NOT far fetched until the authorities take charge assuming that's remotely possible! Link to comment Share on other sites More sharing options...
Guest ValueCarl Posted March 11, 2012 Share Posted March 11, 2012 This will be an interesting trading week for CLWR, as we witness the L2'd debacle UNFOLD. What will Sprint do, or be made to do? Will Mr. Market have ELEVATED GROUND to WHACK TWO MOLES hiding in their caves tied to the debt side of their equation? Let me decode this for the UNWASHED before I am accused of gibberish, or any other incomprehensible statements in expressing my disdain against "organized crime" including ENEMIES of NATIONS like Icahn and Soros. >:( Link to comment Share on other sites More sharing options...
brker_guy Posted March 14, 2012 Share Posted March 14, 2012 I guess these guys at LS2 didn't get the memo. :D Not only did the FCC said no to them, they also said "no" to DISH's LTE plan as well. So, now LS2 are going to burn taxpayers money while they reclaim their credibility: http://www.bloomberg.com/news/2012-03-13/falcone-s-lightsquared-hires-legal-team-to-fight-regulators-1-.html?cmpid=yhoo On the CLWR front, we got a small contract win today: http://www.businessweek.com/news/2012-03-14/clearwire-wins-contract-to-provide-network-for-leap-s-4g-service Link to comment Share on other sites More sharing options...
alertmeipp Posted April 18, 2012 Share Posted April 18, 2012 Down to 1.5. Anyone see news? Link to comment Share on other sites More sharing options...
enoch01 Posted April 18, 2012 Share Posted April 18, 2012 Down to 1.5. Anyone see news? Maybe this: http://bloom.bg/JgSbO9 Link to comment Share on other sites More sharing options...
Cardboard Posted April 18, 2012 Share Posted April 18, 2012 I am thinking that there is way, way too much spectrum for the current competitive environment. So what Verizon is doing is selling 700 MHz in the A and B blocks that it purchased and is not using yet and will complement its LTE with AWS from the cable cos. AT&T will turn around and buy what it needs to help its network, then some pieces will float to Metro PCS. The entire strategy is about killing the rest of the competition so that Verizon and AT&T can operate in a cartel of two. They are doing whatever they can to starve out the rest of the competition. Once Sprint and Clearwire are dead, they will take for peanuts all their spectrum which will then be used for the new demand that has not fully materialized yet and will raise prices for consumers accordingly. The Clearwire thesis appears broken IMO. It is a hostage of Sprint which is lead by a total loser. Then, you have Verizon and AT&T appearing to team up together to destroy the rest of the industry. Unless the FCC and the Justice Department wake-up soon or if there is a very deep pocketed player supporting Sprint, it is hard for me to see monetization of Clearwire's assets under a scenario that will be profitable for us shareholders. Cardboard Link to comment Share on other sites More sharing options...
brker_guy Posted April 19, 2012 Share Posted April 19, 2012 I came to the similar conclusion the last few days, Cardboard, when I read about VZ's plan to sell some of their prime spectrum and AT&T's CEO coming out to say that spectrum is plenty which is a total lie. So, unless someone can step up and rid ourselves of the total loser in charge of S, we are toast. I voted for everyone on Sprint's BOD except for the loser, Hesse. Link to comment Share on other sites More sharing options...
txlaw Posted April 19, 2012 Share Posted April 19, 2012 For your reading pleasure: http://gigaom.com/mobile/how-verizon-might-kill-any-hope-for-lte-interoperability/ Link to comment Share on other sites More sharing options...
bmichaud Posted May 7, 2012 Author Share Posted May 7, 2012 WOW what a PIG. Talk about the quinessential example of a dying/dead business not worth the brain damage to figure out. As Munger and Buffett said this weekend, a growing business is worth a heck of a lot more than a dying one - unfortunately I had to learn that with this thing last year, fortunately I sucked it up and dumped it at higher prices...makes me cringe thinking about it. Link to comment Share on other sites More sharing options...
txlaw Posted May 21, 2012 Share Posted May 21, 2012 More bad news for the value of CLWR spectrum, which gets less and less valuable the more Sprint lets the cablecos, T-Rex, and VZ eat its lunch. http://news.cnet.com/8301-1023_3-57438006-93/cable-companies-expand-free-wi-fi/ Link to comment Share on other sites More sharing options...
txlaw Posted July 25, 2012 Share Posted July 25, 2012 Well, CLWR reports on Thursday. This thing is under $1 now. Hopefully, Sprint will come to its senses soon. Link to comment Share on other sites More sharing options...
txlaw Posted July 30, 2012 Share Posted July 30, 2012 Very, very interesting: http://apps.fcc.gov/ecfs/document/view;jsessionid=Gz8CQWCTl4hFK1b3wJ1Tw7cMsF9bM5PpLrNH9nwCGhJ83ypYNZJ6!973241960!-856245186?id=7021991114 http://www.fiercewireless.com/story/rumor-mill-directv-interested-partnering-clearwire/2012-07-30 Link to comment Share on other sites More sharing options...
brker_guy Posted August 3, 2012 Share Posted August 3, 2012 For all of you guys who didn't catch this yesterday, one of CLWR's competitors in the spectrum holding space, NextWave, was bought by AT&T because the management at AT&T finally grew a brain and realized that they needed more spectrum for their LTE customers. So, they have to go out and buy someone. NextWave owns 5Mhz chunks in the 2.3GHz space. NextWave doesn't have any customer like CLWR does. All they are is just a holder of 2.3GHz. Have a look at this announcement. WAVE went up 416% yesterday alone. http://www.fiercewireless.com/press-releases/att-agrees-acquire-nextwave-wireless-inc http://finance.yahoo.com/q?s=WAVE&ql=1 CLWR owns MUCH MUCH MORE SPECTRUM than these guys. This should tell you what CLWR's truly worth because CLWR has assets, customers base, and technologies in deployment for LTE... Link to comment Share on other sites More sharing options...
bmichaud Posted August 3, 2012 Author Share Posted August 3, 2012 For all of you guys who didn't catch this yesterday, one of CLWR's competitors in the spectrum holding space, NextWave, was bought by AT&T because the management at AT&T finally grew a brain and realized that they needed more spectrum for their LTE customers. So, they have to go out and buy someone. NextWave owns 5Mhz chunks in the 2.3GHz space. NextWave doesn't have any customer like CLWR does. All they are is just a holder of 2.3GHz. Have a look at this announcement. WAVE went up 416% yesterday alone. http://www.fiercewireless.com/press-releases/att-agrees-acquire-nextwave-wireless-inc http://finance.yahoo.com/q?s=WAVE&ql=1 CLWR owns MUCH MUCH MORE SPECTRUM than these guys. This should tell you what CLWR's truly worth because CLWR has assets, customers base, and technologies in deployment for LTE... If WAVE's spectrum covers 360MM, total MHz-POP is 1.8B, which means they paid around $.35 per pop. That sound about right? If so, thats a HUGE boost for CLWR's valuation..... Link to comment Share on other sites More sharing options...
brker_guy Posted August 3, 2012 Share Posted August 3, 2012 Bmichaud, When I first joined this thread last May, there were quite a debate about WAVE and CLWR on the MHz-POP. I think back then, I said that people were valuing WAVE at something like $.30 per MHz-Pop and that CLWR was at $0.18 per MHz-Pop even though CLWR has more asset than WAVE? I think I said that CLWR should be value at $.20 MHz-Pop as the least value? Well considering how desparately, the telecom guys like VZ and ATT are scrambling to grab spectrum while talking down their valuation ought to tell you something about the value and the needs for spectrum. You also are seeing DISH is trying really hard to get the FCC to allow them to play in this space given their spectrum holding. And then, you have DTV needing to be in this space by wanting to be an investor in CLWR. I think the only thing that is holding down CLWR's valuation is the idiots at Sprint who don't know how to maximize their investment in CLWR by playing nice with them. CLWR has a REAL NETWORK with real subscribers. WAVE had no such thing! As days go by you shall see the value of CLWR's spectrum when they truly pull off this GLOBAL INTEROPERABILITY network: http://www.lte-tdd.org/ http://www.lte-tdd.org/newsdetail/733 http://www.lte-tdd.org/sites/default/files/TD-LTE%20Industry%20Briefing%20-%20Jan%202012.pdf Link to comment Share on other sites More sharing options...
brker_guy Posted August 3, 2012 Share Posted August 3, 2012 Looks like it's going to be tough for VZ to get approval on those precious spectrum they are buying: http://in.reuters.com/article/2012/08/02/idINL2E8J2EE420120802 Link to comment Share on other sites More sharing options...
bmichaud Posted August 6, 2012 Author Share Posted August 6, 2012 Bmichaud, When I first joined this thread last May, there were quite a debate about WAVE and CLWR on the MHz-POP. I think back then, I said that people were valuing WAVE at something like $.30 per MHz-Pop and that CLWR was at $0.18 per MHz-Pop even though CLWR has more asset than WAVE? I think I said that CLWR should be value at $.20 MHz-Pop as the least value? Well considering how desparately, the telecom guys like VZ and ATT are scrambling to grab spectrum while talking down their valuation ought to tell you something about the value and the needs for spectrum. You also are seeing DISH is trying really hard to get the FCC to allow them to play in this space given their spectrum holding. And then, you have DTV needing to be in this space by wanting to be an investor in CLWR. I think the only thing that is holding down CLWR's valuation is the idiots at Sprint who don't know how to maximize their investment in CLWR by playing nice with them. CLWR has a REAL NETWORK with real subscribers. WAVE had no such thing! As days go by you shall see the value of CLWR's spectrum when they truly pull off this GLOBAL INTEROPERABILITY network: http://www.lte-tdd.org/ http://www.lte-tdd.org/newsdetail/733 http://www.lte-tdd.org/sites/default/files/TD-LTE%20Industry%20Briefing%20-%20Jan%202012.pdf Brker_guy - thanks for the info! Looks like CLWR is starting to come back into favor with Mr. Market 8) Link to comment Share on other sites More sharing options...
brker_guy Posted August 8, 2012 Share Posted August 8, 2012 bmichaud, I have more wonderful news for you: Look like Dan "The Hustle" Hesse is needing CLWR more these days also... The Sprint chief also talked about the company's Network Vision network modernization plans and Sprint's recent LTE deployment. While he said Sprint made the right decision from a brand perspective to get behind Clearwire's (NASDAQ:CLWR) mobile WiMAX network so that it could market 4G, it is moving ahead with LTE. He also said that Clearwire's forthcoming TDD-LTE network, due to be launched by the middle of next year, is an "essential" part of the company's plans. He noted that Sprint needs Clearwire for excess LTE capacity since it "would run out of capacity sometime in roughly a couple years, including our 800 [MHz] and 1900 [MHz bands]," according to The Verge. Finally!!!!! Hesse has a clear vision on his "Network Vision"... Hallelujah!!!! Read more: Sprint's Hesse defends iPhone deal, takes a whack at Verizon, AT&T - FierceWireless http://www.fiercewireless.com/story/sprints-hesse-defends-iphone-deal-takes-whack-verizon-att/2012-08-08#ixzz25tfApOAZ Subscribe: http://www.fiercewireless.com/signup?sourceform=Viral-Tynt-FierceWireless-FierceWireless Link to comment Share on other sites More sharing options...
txlaw Posted August 8, 2012 Share Posted August 8, 2012 It's about time, huh, brker_guy? :) I'm getting tired of Verizon and AT&T's shenanigans. We need a strong S/CLWR to at least add a bit of competition to the market, both in the retail and wholesale markets. Crossing my fingers . . . Link to comment Share on other sites More sharing options...
bmichaud Posted August 8, 2012 Author Share Posted August 8, 2012 bmichaud, I have more wonderful news for you: Look like Dan "The Hustle" Hesse is needing CLWR more these days also... The Sprint chief also talked about the company's Network Vision network modernization plans and Sprint's recent LTE deployment. While he said Sprint made the right decision from a brand perspective to get behind Clearwire's (NASDAQ:CLWR) mobile WiMAX network so that it could market 4G, it is moving ahead with LTE. He also said that Clearwire's forthcoming TDD-LTE network, due to be launched by the middle of next year, is an "essential" part of the company's plans. He noted that Sprint needs Clearwire for excess LTE capacity since it "would run out of capacity sometime in roughly a couple years, including our 800 [MHz] and 1900 [MHz bands]," according to The Verge. Finally!!!!! Hesse has a clear vision on his "Network Vision"... Hallelujah!!!! Read more: Sprint's Hesse defends iPhone deal, takes a whack at Verizon, AT&T - FierceWireless http://www.fiercewireless.com/story/sprints-hesse-defends-iphone-deal-takes-whack-verizon-att/2012-08-08#ixzz25tfApOAZ Subscribe: http://www.fiercewireless.com/signup?sourceform=Viral-Tynt-FierceWireless-FierceWireless haha looks like Hess's getting a little more "sprint" in his step with a higher share price....hopefully he doesn't waste the opportunity before him 8) Link to comment Share on other sites More sharing options...
brker_guy Posted August 8, 2012 Share Posted August 8, 2012 TxLaw, It sure is about time. Aren't you glad you got back on CLWR in the low $1s now? Oh, it gets better for us. With VZ facing FCC and DOJ huddles(pun intended bc of the Olympics) for its spectrum acquisition from the MSOs, the crunch is on for VZ to find spectrum assets. Also, AT&T has to wait for at least 3 years to monetize its NextWave's spectrum assets, things are looking up for us: http://in.reuters.com/article/2012/08/02/idINL2E8J2EE420120802 http://www.nytimes.com/2012/02/23/technology/t-mobile-files-request-to-block-verizons-planned-spectrum-deal.html Link to comment Share on other sites More sharing options...
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