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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.

Jun 7, 2013

Ontario Teachers to vote for SoftBank/Sprint deal

NEW YORK (Reuters) – The Ontario Teachers Pension Plan, the fifteenth biggest shareholder in Sprint Nextel Corp (S.N: Quote, Profile, Research, Stock Buzz), said on Friday it intends to vote for SoftBank Corp’s (9984.T: Quote, Profile, Research, Stock Buzz) plan to buy 70 percent of Sprint for $20.1 billion.

The pension plan owned 40.2 million shares, or 1.33 percent, of Sprint, according to the latest publicly available information.

    • 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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