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Jun 20, 2013

Sprint raises Clearwire bid, wins key investor support

NEW YORK, June 20 (Reuters) – Sprint Nextel Corp
raised its buyout offer for Clearwire Corp to $5 per
share on Thursday and announced support from a key group of
dissident shareholders, trumping rival suitor Dish Network Corp
.

Sprint, already Clearwire’s majority shareholder, also had
Clearwire agree to changes in its governance rules, which could
make it much harder for a rival bidder to buy the firm.

Jun 19, 2013

Analysis: Sprint should raise Clearwire bid to avoid Dish tension

NEW YORK (Reuters) – Sprint Nextel Corp should consider raising its offer price for Clearwire Corp or risk being saddled with a contentious relationship with Dish Network Corp, controlled by feisty billionaire Charlie Ergen.

Shareholders of Clearwire, already majority owned by Sprint, will vote on June 24 on Sprint’s $3.40-a-share offer to buy the rest of the company. But Clearwire’s board has recommended shareholders instead accept a higher, $4.40-a-share tender offer from Dish.

Jun 19, 2013

Sprint should raise Clearwire bid to avoid Dish tension

NEW YORK, June 19 (Reuters) – Sprint Nextel Corp (S.N: Quote, Profile, Research)
should consider raising its offer price for Clearwire Corp
(CLWR.O: Quote, Profile, Research) or risk being saddled with a contentious relationship
with Dish Network Corp (DISH.O: Quote, Profile, Research), controlled by feisty
billionaire Charlie Ergen.

Shareholders of Clearwire, already majority owned by Sprint,
will vote on June 24 on Sprint’s $3.40-a-share offer to buy the
rest of the company. But Clearwire’s board has recommended
shareholders instead accept a higher, $4.40-a-share tender offer
from Dish.

Jun 19, 2013

Softbank closer to acquiring Sprint after Dish abandons bid for now

TOKYO/NEW YORK, June 19 (Reuters) – Japan’s SoftBank Corp
cleared a major hurdle in its attempt to buy U.S.
wireless provider Sprint Nextel Corp, as rival bidder Dish
Network Corp declined to make a new offer after
SoftBank sweetened its own bid last week.

SoftBank Chief Executive Masayoshi Son is now a step closer
to sealing the largest overseas acquisition by a Japanese
company in history, after winning support from a key shareholder
by raising SoftBank’s offer to $21.6 billion from $20.1 billion
last week.

Jun 19, 2013

Dish abandons Sprint bid for now to focus on Clearwire

NEW YORK (Reuters) – Dish Network Corp said it would not make a new offer to buy No. 3 U.S. wireless provider Sprint Nextel in time for a Tuesday deadline and would instead focus on its tender offer for Clearwire Corp.

The decision may be good news for Japan’s SoftBank Corp, which is also trying to buy Sprint. A purchase by SoftBank could provide Sprint with access to more capital that it could use to beef up its network and compete better.

Jun 13, 2013

Gannett surges to five-year high on deal to expand TV reach

By Sinead Carew and Liana B. Baker

(Reuters) – Gannett Co Inc (GCI.N: Quote, Profile, Research) shares soared 27 percent to a five-year high after the largest U.S. newspaper chain struck a $1.5 billion (955.8 million pounds) deal for television company Belo Corp (BLC.N: Quote, Profile, Research), dramatically increasing TV’s importance to Gannett’s results.

Gannett’s surge nearly equalled the entire purchase price, an unusual move for the buyer in a takeover. Analysts said it would probably mean a richer valuation for the company, and might spur buyout interest in peer companies with local TV assets.

Jun 13, 2013

Gannett to expand in TV with $1.5 billion Belo purchase

By Sinead Carew and Ben Berkowitz

(Reuters) – Gannett Co Inc, the largest U.S. newspaper chain, said it will pay $1.5 billion for television company Belo Corp, adding a stable of faster-growing TV assets that will offset the company’s newspaper businesses.

The deal would nearly double Gannett’s broadcasting holdings, making it the fourth-largest U.S. owner of major network affiliates, reaching nearly one-third of U.S. households, the company said on Thursday.

Jun 12, 2013

Clearwire urges shareholders to accept Dish offer

NEW YORK (Reuters) – Clearwire Corp’s (CLWR.O: Quote, Profile, Research, Stock Buzz) board urged shareholders on Wednesday to accept a tender offer from Dish Network Corp (DISH.O: Quote, Profile, Research, Stock Buzz) over an earlier deal with majority owner Sprint Nextel Corp (S.N: Quote, Profile, Research, Stock Buzz) to buy out the minority shareholders of the wireless service provider.

The decision was a boost for Dish Chairman Charlie Ergen who is also in a takeover battle with SoftBank Corp (9984.T: Quote, Profile, Research, Stock Buzz) to take full control of Sprint.

Jun 12, 2013

Cisco sees new product raising core router revenue to $10 billion

NEW YORK (Reuters) – Cisco Systems Inc predicts that a new product it unveiled on Wednesday will increase its cumulative revenue from core routers, which direct Internet data traffic, by 25 percent – to $10 billion – within the next two years.

The leading network equipment maker expects to cash in on ever increasing demand for Internet services with its new CRS-X router, its third in the CRS product series.

Jun 11, 2013

SoftBank raises Sprint offer, wins key shareholder support

TOKYO/NEW YORK (Reuters) – Japanese mobile operator SoftBank Corp said it agreed with Sprint Nextel Corp to raise its offer for the U.S. wireless carrier to $21.6 billion from $20.1 billion, as it fights off a counter bid by Dish Network Corp.

SoftBank’s amended offer, Japan’s biggest outbound deal, won the backing of hedge fund Paulson & Co, Sprint’s second-biggest shareholder, which had earlier supported the Dish bid. Paulson said it would vote all its shares in favor of SoftBank’s improved offer.

    • About Sinead

      "Sinead is a telecommunications industry correspondent. Her coverage area spans U.S. service providers, cellphone makers and chip makers. Before joining Reuters in 2002, she covered technology and telecoms for various trade publications."
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