For now it handles its 3G traffic itself and passes 4G traffic to Clearwire.
Neither Clearwire nor the Special Committee has any further comment on this matter at this time.
Clearwire, Softbank, China Mobile and Vodafone were among the founding members of the group.
Clearwire is the real prize here and the ridiculous low ball price will not prevail.
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Under the multi-part deal, Sprint agreed to participate in a future Clearwire equity offering.
FORBES: Clearwire CEO Prusch: We Got Our 'Big Three' In Sprint Deal
Clearwire shares traded sharply lower after hours Wednesday on a weaker-than-expected financial outlook for 2012.
Clearwire, which declined comment in the wake of the public offering, offers no timeline for profit.
Telecom executives say (unofficially) that Sprint is too busy digesting Nextel to think of buying Clearwire.
McCaw could still call it a victory, particularly given his spotty history and Clearwire's iffy prospects.
Clearwire has said that its customers use seven gigabytes of data per month, on average.
The chipmaker holds a 20.0% stake in Clearwire and spied a bonanza in building WiMax-enabled chips.
The relationship between Clearwire and Sprint has been an uncomfortable marriage to say the least.
There was not a single mention of Clearwire and its fate in the announcement today.
Clearwire is unable to ink wholesale agreements with a major customer other than Sprint.
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The company is the majority stakeholder in Clearwire and resells its service as Sprint 4G.
FORBES: Sprint Goes From Chump To Challenger In Long-Term Evolution Becoming A Smartphone Player
Clearwire said it will use the net proceeds for general corporate purposes and working capital purposes.
The new company will be called Clearwire, and Sprint will own a 51% stake.
As a wholesale operator to other carriers, Clearwire intends to provide backup support for overflow traffic.
The filing says that Clearwire has accepted neither the January nor the February payments.
FORBES: Is Clearwire's "Special Committee" Finally Doing Its Proper Job?
Sprint, like Clearwire, is also heavily debt laden and has run itself poorly in recent years.
FORBES: Is Clearwire's "Special Committee" Finally Doing Its Proper Job?
As part of the consideration for this sale, Crest received a significant number of Clearwire shares.
FORBES: Sprint's Hesse Underbidding For Clearwire, Still Hopes Shareholders Can Be Duped
And I am not objective because my firm and I own shares in Clearwire.
FORBES: Sprint's Hesse Underbidding For Clearwire, Still Hopes Shareholders Can Be Duped
Since December when McCaw abruptly resigned from the Clearwire Board, he is no longer an insider.
Trading in Clearwire was halted after the close of trading on January 8, 2013.
FORBES: Fat Lady Still Not Singing In the Sprint Acquisition of Clearwire
Clearwire has been scorned by U.S. investors who denigrate its 2.5 Ghz spectrum position.
FORBES: Softbank Must See The Value in Clearwire's 2.5 Ghz Spectrum
If Softbank is after spectrum, the entity with the juicy spectrum position is Clearwire.
FORBES: Softbank Must See The Value in Clearwire's 2.5 Ghz Spectrum
In the fall of 2011, Sprint was doing its best to distance itself from Clearwire.
FORBES: Clearwire Back In Softbank/Sprint Nextel's Crosshairs
Their job on the call was to convince those listening that Clearwire had no other options.
FORBES: Sprint/Clearwire Sing Way Off Key From Same Page In The Softbank Hymnal
The ties between Softbank and the various players at Clearwire and Sprint are wide and deep.
FORBES: Softbank's Brilliant Buy One (Sprint), Get One Free Deal (Clearwire)
Clearwire can program as many as eight 20Mhz wide channels in an urban center.
FORBES: Softbank's Brilliant Buy One (Sprint), Get One Free Deal (Clearwire)
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