| Sprint and Clearwire today announced that they have agreed to amend Sprint's agreement to acquire the approximately 50 percent of Clearwire it does not currently own (the “minority stake”) for $5.00 per share, valuing Clearwire at approximately $14 billion, or about $0.30 per MHZ-pop. This increased offer represents a 47 percent premium to Sprint’s previous offer of $3.40 per share announced on May 21, 2013 and a 285 percent premium to Clearwire's closing share price on Oct. 10, 2012, the day before the Sprint-SoftBank discussions were first confirmed in the marketplace and Clearwire was speculated to be a part of that transaction. This offer also represents a 14 percent premium to the $4.40 per share DISH tender offer.|
Sprint has received commitments from a group of significant Clearwire stockholders, including Mount Kellett Capital Management LP, Glenview Capital Management LLC, Chesapeake Partners Management Co., Inc. and Highside Capital Management LP, which collectively own approximately 9 percent of Clearwire’s voting shares, to vote their shares in support of the transaction. These stockholders have also agreed to sell their shares to Sprint in the event the transaction does not close.
Together with the voting commitments previously received from Comcast Corp., Intel Corp and Bright House Networks LLC, who collectively own approximately 13 percent of Clearwire’s voting shares, and Clearwire’s directors and officers, stockholders owning approximately 45 percent of the Clearwire voting shares not affiliated with Sprint, have now agreed to vote their shares in support of the transaction. Sprint expects a majority of the non-Sprint stockholders to support the Clearwire merger based on these agreements and the votes of shareholders with both Sprint and Clearwire shareholdings who have already voted in favor of the Sprint SoftBank transaction.
| Sprint announced today that it has filed a complaint in the Delaware Court of Chancery against DISH Network Corporation and Clearwire Corporation asking the Court to prevent the consummation of the DISH tender offer for Clearwire. Sprint believes the transaction violates Delaware law and the rights of both Sprint and Clearwire’s other strategic investors under Clearwire’s charter and under the Equity Holders Agreement (“EHA”). In addition to seeking to enjoin the tender offer, Sprint’s lawsuit seeks to rescind certain parts of the tender offer agreement and seeks declaratory, injunctive, compensatory and other relief.|
In its complaint, Sprint outlines why DISH’s tender offer violates the rights of Sprint and other Clearwire stockholders under Clearwire’s governing documents and Delaware law. It also details how DISH has repeatedly attempted to fool Clearwire’s shareholders into believing its proposal was actionable in an effort to acquire Clearwire’s spectrum and to obstruct Sprint’s transaction with Clearwire. Among the points the suit makes:
| Starting today, customers using iPhone 5 and 4S will begin receiving a software update that includes Wireless Emergency Alerts. |
These are government-issued safety messages that include AMBER Alerts, emergency alerts – such as man-made or natural disasters, and Presidential alerts.
Wireless Emergency Alerts are part of the FCC’s CMAS program and are mandated by law. You may turn off alerts (except for Presidential alerts) if you choose. Go to Settings >Notifications>Turn On/Off.
When the software update is delivered to your phone, you will see a message that states “Carrier Settings Update: new settings required for your device have been installed”. After that, your iPhone 5 or 4S will receive all Wireless Emergency Alerts by default.
While the software update is mandatory, you are not charged for the data to deliver it and Wireless Emergency Alerts will never count against your messaging plan. The update will be sent to users with iOS 6.1 or higher.
| Sprint today announced the availability of its all-new 4G LTE network in 22 new cities, just in time for the official start of summer. Customers in “hotspots” such as Miami, New Orleans, Raleigh, N.C., and Tampa, Fla., are now able to download videos, access the Internet and send photos with greater speed and reliability thanks to the power of Sprint 4G LTE.|
Additionally, new customers switching to Sprint can save up to $100 on any smartphone with a new two-year service agreement and activation and a qualifying plan.
Today, Sprint is launching 4G LTE in:
- Baton Rouge, La.
- Centralia, Wash.
- Clarksville, Tenn.
- Corsicana, Texas
- Dalton, Ga.
- Dunn, N.C.
- Fond du Lac, Wis.
- Gainesville, Fla.
- Henderson, N.C.
- Kingsport, Tenn.
- Lansing/East Lansing, Mich.
- Longview, Wash.
- Napa, Calif.
- New Orleans
- Palatka, Fla.
- Raleigh, N.C.
- Sebring, Fla.
- St. Cloud, Minn.
- St. Joseph/Benton Harbor, Mich.
- Tampa, Fla.
- Warsaw, Ind.
| Sprint remains on schedule to decommission the iDEN Nextel National Network beginning at 12:01 am Eastern time on June 30. iDEN devices will then no longer receive voice service – including 911 calls and push-to-talk– or data service. Sprint will shut down switch locations in rapid succession on June 30, followed by powering down equipment and eliminating backhaul at each cell site. The last full day of iDEN service for active users will be June 29.|
Sprint announced plans in the fourth quarter of 2010 to phase out the iDEN Nextel National Network as part of its Network Vision plan. The company declared on May 29, 2012, that it planned to cease service on the network as early as June 30, 2013. During the past year, Sprint has extensively notified customers of the impending shutdown and encouraged early migration from the iDEN Nextel National Network to avoid service disruptions. The notifications have included customer letters, legal notifications, email reminders, voicemails and text messages. The company will use other communications tactics during the network’s final days of operation.
“We strongly urge customers to migrate now to the Sprint Nationwide CDMA network to avoid losing service,” said Bob Azzi, Sprint senior vice president-Network.
Customers who migrate to Sprint Direct Connect experience three times the push-to-talk coverage area compared to iDEN and can take advantage of International Direct Connect’s reach to Latin American countries and 3G broadband data capabilities.
“Sprint Direct Connect is a gold standard in push-to-talk,” Azzi said. “It comes with the broadband capabilities that businesses and public safety pros need for business applications and social media capabilities on Sprint’s broadband CDMA network.”
| Sprint has announced the planned summer launch of a trio of mobile broadband devices that will take advantage of three bands of 4G LTE wireless spectrum available to Sprint’s network. These devices are expected to bring customers improved network performance and stronger in-building coverage as LTE is deployed on each of these bands. With the ability to leverage Sprint’s 4G LTE network at 1.9GHz and 800MHz as well as Clearwire’s LTE network at 2.5GHz, these new devices offer Sprint customers ideal solutions to easily stay connected on the go.|
The first tri-band Sprint 4G LTE-capable mobile broadband devices will be the sleek MiFi® 500 LTE by Novatel Wireless™, international-capable NETGEAR® Zing Mobile Hotspot™ and the plug-in NETGEAR® 341U USB Modem. Pricing and exact availability dates for the three devices will be provided at a later date.
The three bands of spectrum accessible on these devices will provide Sprint customers a high-quality, consistently fast 4G LTE network experience, whether they are sitting at their desks, catching up with friends at a coffee shop, or riding in a cab in a crowded city:
The 800MHz spectrum that is being added to Sprint’s LTE network beginning later this year excels at in-building coverage. This spectrum is able to be repurposed for LTE as Sprint ceases operations of the Nextel National Network on June 30, 2013. Using 1.9GHz spectrum as its primary band for 4G nationwide coverage, Sprint is making substantial progress with deployment of its new 4G LTE network. Sprint now offers service in 88 markets nationwide, including Los Angeles, Charlotte, Boston and Dallas. Average performance is in the range of six to eight MB per second for downlink and two to three MB per second or higher for uplink. Many Sprint customers are discovering Sprint 4G LTE in cities that haven’t yet officially been announced, including Washington, D.C., New York and San Francisco. Sprint has announced more than 170 additional markets where LTE will be available in the coming months. Clearwire’s 2.5GHz spectrum for its LTE network, which excels at broad-based, high speed coverage, is expected to provide Sprint customers with increased speeds and capacity in densely populated cities.
| Clearwire Corporation today announced that its Special Committee of the Board of Directors and its Board of Directors have each approved the revised offer from Sprint (NYSE:S) to acquire the approximately 50 percent stake in the Company it does not currently own for $3.40 per share.|
The Special Committee of the Board of Directors determined that the revised offer, when compared with other potential transactions reasonably available to the Company at this time, is the most favorable potential transaction to the Company's unaffiliated stockholders and that the terms of the revised offer are advisable, fair to and in the best interest of such stockholders. The Clearwire Board recommends that stockholders vote their shares FOR all of the proposals relating to the transaction with Sprint by returning the WHITE proxy card with a "FOR" vote for all proposals.
The Special Meeting of Stockholders will reconvene on Friday, May 31, 2013, at 10:30 a.m. Pacific time at the Highland Community Center, 14224 Bel-Red Road, Bellevue, Wash 98007. The record date for stockholders entitled to vote at the Special Meeting remains April 2, 2013.
Evercore Partners is acting as financial advisor and Kirkland & Ellis LLP is acting as counsel to Clearwire. Centerview Partners is acting as financial advisor and Simpson Thacher & Bartlett LLP and Richards, Layton & Finger, P.A. are acting as counsel to Clearwire's Special Committee. Blackstone Advisory Partners L.P. has advised the Company on restructuring matters.
| Having built solid relationships with Kansas City startups to spur growth and establish the area as a hub for entrepreneurism and innovation, Sprint today announced that it has acquired Kansas City-based Handmark Inc. and its subsidiary OneLouder Apps Inc., a leading mobile app developer and advertising company. The combined teams will further enhance Sprint’s Pinsight Media+TM advertising service with an increased entrepreneurial spirit and capabilities to drive tremendous benefits for brands, app developers and consumers.|
“Bringing the capabilities of Handmark and OneLouder in-house is an exciting move as we position Sprint for market leadership in emerging mobile products and services,” said Mike Cooley, vice president – New Ventures at Sprint. “The business, culture and technology they bring will be a huge asset to our business, and ultimately the customers of Pinsight Media+.”
OneLouder immediately infuses Pinsight Media+ with an experienced advertising team, a sophisticated ad platform and top-rated mobile apps that serve millions of customers each day. OneLouder’s leading apps and technology platform, combined with Sprint’s large customer base and targeting capabilities, will enhance both companies’ abilities to connect brands with relevant audiences.
“As a long-time partner of Sprint, we’ve worked together on some of the mobile industry’s most successful initiatives,” said Augie Grasis, Handmark founder and CEO. “Joining forces is a natural progression to our relationship and will help scale our mobile media business, resulting in tremendous value for Sprint and OneLouder customers.”
| Secure your home, check in on your kids or pets, adjust the temperature, let your housesitter in the front door, or check to see if you closed your garage door, from almost anywhere all on the go. Available today for the first time in 15 markets, AT&T Digital LifeSM makes customers' lives easier by simplifying the management of their home. Digital Life offers customers security, convenience and peace of mind, in a customizable and easy-to-use experience from smartphones, tablets or PCs.|
AT&T* today announced the first commercial launch markets for AT&T Digital Life: Atlanta, Austin, Texas, Boulder, Colo., Chicago, Dallas, Denver, Houston, Los Angeles, Miami, Philadelphia, Riverside, Calif., San Francisco, Seattle, St. Louis and select areas of the New York and New Jersey metropolitan area. AT&T plans to introduce Digital Life in up to 50 markets by the end of 2013.
The foundation of AT&T Digital Life is complete home security with 24/7 professional monitoring. Through AT&T-owned and operated, U.S.-based monitoring centers, professionals will respond to emergencies and alert police and fire authorities. Customers can choose which alerts they want to receive and how.
"We know how important security is to our customers, and this was our top priority when we set out to build Digital Life," said Kevin Petersen, senior vice president, AT&T Digital Life. "People rely on their mobile devices more than ever, so Digital Life offers an easy and convenient way to secure their homes, protect their families and simplify their lives from virtually anywhere."
| Sprint today announced that Sprint Data Link™ and Static IP networking services now operate over the Sprint 4G LTE network. Both products are compatible with 3G as well as 4G, and include upgrades that make it easier for businesses and government agencies to deploy, manage and extend an enterprise network to modems, tablets and handsets.|
Sprint Data Link enables business networks to reach beyond the limits of a corporate enterprise WAN. Sprint Data Link provides mobile employees and connected devices with access to their mission-critical business information over a private wireless network, separate from the public Internet.
Sprint Data Link comes with a 99.9% availability service level agreement (SLA) and is supported on a vast array of 3G- and 4G-capable devices including handsets, tablets, laptops, mobile broadband cards, hotspots and M2M embedded modems. Uses range from setting up retail kiosks, seasonal storefronts, temporary offices, lottery terminals and wireline backup to remote monitoring and home healthcare.
| DISH Network Corporation today announced that it has submitted a merger proposal to the Board of Directors of Sprint Nextel Corporation (NYSE:S) for a total cash and stock consideration of $25.5 billion. The DISH proposal clearly represents superior value to Sprint shareholders, including greater ownership in a combined company that is better positioned for the future with more spectrum, products, subscribers, financial scale and new opportunities.|
DISH is offering Sprint shareholders a total consideration of $25.5 billion, consisting of $17.3 billion in cash and $8.2 billion in stock. Sprint shareholders would receive $7.00 per share, based upon DISH’s closing price on Friday, April 12, 2013. This consists of $4.76 per share in cash and 0.05953 DISH shares per Sprint share. The cash portion of DISH’s proposal represents an 18% premium over the $4.03 per share implied by the SoftBank proposal, and the equity portion represents approximately 32% ownership in the combined DISH/Sprint versus SoftBank’s proposal of a 30% interest in Sprint alone. Together this represents a 13% premium to the value of the existing SoftBank proposal.
“The DISH proposal clearly presents Sprint shareholders with a superior alternative to the pending SoftBank proposal,” said Charlie Ergen, Chairman of DISH Network. “Sprint shareholders will benefit from a higher price with more cash while also creating the opportunity to participate more meaningfully in a combined DISH/Sprint with a significantly-enhanced strategic position and substantial synergies that are not attainable through the pending SoftBank proposal.”
| Clearwire today announced that it has elected to take the $80 million April draw under the terms of its agreements with Sprint Nextel Corporation ("Sprint") that provide additional financing to Clearwire in the form of exchangeable notes, which will be exchangeable under certain conditions for Clearwire common stock at $1.50 per share, subject to adjustment under certain conditions (the "Sprint Financing Agreements"). The Special Committee has not made any determination as to whether to take any future draws under the Sprint Financing Agreements and has not made any determination to change its recommendation of the current Sprint transaction.|
As previously disclosed on January 8, 2013, Clearwire received an unsolicited, non-binding proposal from DISH Network Corporation ("DISH"), which was a preliminary indication of interest and subject to numerous, material uncertainties and conditions. Consistent with its fiduciary duties to Clearwire's non-Sprint class A stockholders, the Special Committee of Clearwire's board of directors has engaged in discussions with DISH concerning its proposal and with Sprint over the course of the last three months, and the Special Committee intends to continue such discussions. The Special Committee will pursue the course of action that it believes is in the best interests of Clearwire's non-Sprint Class A stockholders.
| Beginning today, Samsung Galaxy S II customers will be able to upgrade to Android 4.1, Jelly Bean, via an over-the-wire update (via Samsung’s Simple Upgrade Tool, http://www.samsung.com/us/support/SupportOwnersFAQPopup.do?faq_id=FAQ00052384&fm_seq=60310.|
Jelly Bean offers users stunning graphic capabilities with expanded feature functionality. This software update will make several premium and intuitive Galaxy S III features available to Galaxy S II users.
Smart Stay: Tracks eye movement to ensure the device screen is always on while it’s viewed so the backlight doesn’t dim or become idle
Direct Call: Converts text message interface to the voice call interface by simply raising the phone to the ear
Pop Up Play: Allows users to watch video content while operating any application at the same time
In addition, different operation modes allow users to modify phone functions to meet their always changing needs:
Easy Mode: A simpler home screen setup designed for first-time smartphone users, Easy Mode automatically populates your favorite settings, apps and contacts, in addition to a handful of larger Samsung widgets
| Sprint will offer the U.S. variant of Galaxy S 4 in the second quarter of this year.|
Fared Adib, senior vice president-Product Development at Sprint, issued the following statement:
“Sprint is excited to bring the benefit of Truly UnlimitedSM 4G LTE data to the U.S. variant of Galaxy S 4 in the second quarter of this year. Our customers will appreciate the ability to use Galaxy S 4 to surf the Web, share pictures and videos, and use this smartphone as much as they want without worrying about throttling or overage charges on their monthly bill due to data caps. NPD Group data indicated in 4Q 2012 that Sprint was the top U.S. seller of Samsung Galaxy S III, so we believe our customers will also enjoy its successor’s features and unlimited data.”
Galaxy S 4 customers can enjoy an unlimited data experience with Sprint Everything Data plans. Sprint’s Everything Data plan with Any Mobile, AnytimeSM includes unlimited Web, texting and calling to and from any mobile in North America while on the Sprint Network, starting at just $79.99 per month for smartphones – a savings of $20 per month versus Verizon’s comparable plan with unlimited talk, text and 2GB Web (excludes taxes and surcharges).
| As the opportunity to reuse or recycle idle mobile devices in the United States continues to grow, Sprint Emerging Solutions & Global Wholesale today introduced the Bring Your Own Sprint Device (BYOSD) program.|
BYOSD is intended to help Mobile Virtual Network Operators (MVNOs) address the growing number of inactive devices in the marketplace and offset the phone subsidy burden through the reactivation of used and inactive Sprint-branded devices on qualified MVNO price plans.
In the United States alone, the U.S. Environmental Protection Agency (EPA) estimates 135 million cell phones are discarded each year. Reusing or recycling these phones could save enough energy to power more than 24,000 homes for a year. With BYOSD, MVNO customers simply bring a deactivated Sprint device to their MVNO, who must determine the device’s eligibility for the BYOSD program. Upon meeting those specifications, the device is then activated by the MVNO.
| Many of Sprint’s customers enjoy the ease and freedom of its Truly UnlimitedSM data plans, but for customers who have chosen a different option Sprint wants ensure they can easily monitor and manage their wireless usage.|
Today, Sprint is announcing the expansion of its current usage alert program to include wireless voice and text messaging services – demonstrating Sprint’s commitment to ending “bill shock” well in advance of the CTIA-The Wireless Association® deadline of April 17, 2013.
“Our customers deserve an enjoyable, seamless and stress-free network experience,” said Bob Johnson, chief service and information technology officer for Sprint. “Giving them the tools and alerts to manage and monitor their voice, data, messaging and international service use should translate into a first-rate customer experience.”
Customers can elect to receive these free alerts via text message or email through Sprint’s Ready Now program or by accessing their account via Sprint.com. If a customer doesn’t choose a preferred method of communication, Sprint will provide alerts via text message as a default.
Usage alerts for Sprint customers will operate as follows: