The wireless broadband company is down 2.2% in after hours trading following Dish Network‘s announcement that it has taken its $4.40 a share offer off the table. Dish says that it made its decision after Clearwire’s board recommended that investors accept a $5 offer from Sprint, which already owns about half of Clearwire‘s stock. Sprint’s offer valued Clearwire at more than $14B. The developments pose a dilemma for Dish Chairman Charlie Ergen as he tries to create a national wireless broadband service. He has been amassing airwave spectrum rights but has said that he needs additional licenses. He had hoped to secure that by acquiring a large minority stake in Clearwire — and by acquiring Sprint. But Japan’s SoftBank is poised to win the mobile phone provider after it outbid Dish.
Dish Network Withdraws Offer For Clearwire
What's Hot on Deadline
'Tomorrowland,' 'Pitch Perfect' Battling For No. 1; 'Mad Max' Holds Strong; 'Ultron' To Cross $400M - Box Office Saturday
TLC "Deeply Saddened" As It Pulls All Episodes of '19 Kids And Counting' In Wake Of Child Molestation Allegations - Update
'Jurassic World' Tracking Like 'Man Of Steel' - But How Many $100M+ Openings After That In Summer 2015?
Hot Cannes 'Circle' Package Imperiled As Alicia Vikander In Talks To Star In 'Assassin's Creed', New 'Bourne' Film
Latest Business News
- ‘Tomorrowland,’ ‘Pitch Perfect’ Battling For No. 1; ‘Mad Max’ Holds Strong; ‘Ultron’ To Cross $400M – Box…
- Studiocanal & Switzerland’s Impuls Enter Output Deal – Cannes
- Point.360 To Acquire Troubled Postproduction House Modern VideoFilm
- Time Warner Cable Nears A Decision On A New Merger Deal – Reports
- Hollywood Teamsters Reach Contract Deal With Basic Crafts Unions
- Martha Coolidge: Blaming DGA For Lack Of Female Directors Is “Dangerous Side-Path”