Clearwire CEO John Stanton has said that the WiMAX operator will not consider selling its spectrum in 2011, despite the company posting a net loss of almost US$227m in its Q1 results yesterday.
In an interview with Bloomberg, Stanton reportedly said that…
Clearwire CEO John Stanton has said that the WiMAX operator will not consider selling its spectrum in 2011, despite the company posting a net loss of almost US$227m in its Q1 results yesterday.
In an interview with Bloomberg, Stanton reportedly said that spectrum was rising in value and the company did not need to consider selling it in 2011.
Stanton also reportedly said that the company had received offers for its spectrum, but that it had raised enough cash this year to get by without a sale.
Clearwire, in which Sprint Nextel holds a 54% stake, has a relatively large amount of spectrum compared to its competitors.
According to Bernstein Research figures published by AT&T, Sprint/Clearwire holds 3.72MHz per subscriber, compared to just 0.86 for AT&T.
In early February, Bloomberg reported that T-Mobile USA was potentially a bidder for Clearwire spectrum and that the deal could close in Q1 2011. Now, however, T-Mobile has agreed to be acquired by AT&T.
Clearwire’s Q1 2011 results, released yesterday, showed an increase in losses. The net loss for Q1 2011 was almost US$227m, compared to a net loss of US$92m in the same three-month period in 2010.
There was more positive news in terms of subscriber numbers. During Q1, it increased its number of subscribers by 1.8m to a total of 6.15m. At the end of Q1 2010, the total number of subscribers stood at just 971,000.
