It's been quite a month so far for Clearwire
Then again, turbulence is nothing new to Clearwire overall -- the company has been plowing ahead with a huge makeover in the past several months, including the late 2010 departure of founder and wireless pioneer Craig McCaw and a couple of rounds of CEO musical chairs.
The latest: Clearwire's majority owner, Sprint Nextel
This comes just a few days after executive chairman John Stanton (who last week transitioned out of his interim CEO role) essentially doubled down on Clearwire stock. Both of these events gave a boost to Clearwire's sagging stock price, which was pummeled most recently when an analyst cut his target price and said there was worry about Clearwire's future as a going concern.
Why all this interest in reviving a company that has been the source of so many troubled headlines, and considered far behind in adopting the latest wireless technology? As Forbes contributor Joan Lappin of Gramercy Capital Management wrote yesterday, "everybody covets that Clearwire spectrum."
Lappin, who owns shares in Clearwire (and says she doubled down herself last week), writes that "In round numbers, Clearwire has more spectrum than the combined AT&T
Forbes' Eric Savitz notes, however, that some industry analysts aren't convinced the Sprint-cable company talks about Clearwire are very substantial at this point, and could be more of an attempt by Sprint to hedge its bets for LTE capacity. Which, again, means it's all about the spectrum assets -- a market that McCaw Cellular vets like Stanton have a lot of experience navigating.
Curt Woodward is the senior editor at Xconomy Seattle. Reach him at firstname.lastname@example.org. Get story feeds and more on Twitter, @curtwoodward, and Facebook, on.fb.me/curtwoodward.
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