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Clearwire Corporation (CLWRD) Message Board

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  • bjspokanimal bjspokanimal Oct 14, 2010 4:12 PM Flag

    Why The CLWR Alliance Is Unraveling

    ... is going to partners other than sprint.

    They were at 1.7m total subscribers at 6/30 and reportedly over 2m now. I thought it was split evenly between clear and wholesale but not sure. If you have a better read on this, I'd love to see it.

    The investment consortium does bicker a lot and adds complexity (like how does a T-mobile involvement impact towers CLWR shares with Sprint) but the flip side is that there's also a "multi-insider", collective, proprietary mindset among them that seems anchored in the idea that no other network could rival Verizon and AT&T soon enough.

    I pushed my position today on the thinking that the sale will go off closer to the 40 cent high end. If it does, it'll reset everybody's thinking about the company's true liquidating value relative to book and maybe set a firmer floor at $7... I think an analyst was even suggesting it could firm up such a downside "cushion".

    Thx, S

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    • The 50%/50% split is what the company has disclosed.. they have not provided much clarity such as break outs.

      Revenue contribution from wholesale has not been much... do you have real or estimates for wholesale revs?

      • 1 Reply to teamrep
      • Clearwire said

        1Q net adds retail = 172K, wholesale = 111K
        2Q net adds retail = 127K, wholesale = 595K

        Clearwire also publishes total revenues.

        2 equations with 2 unknown ARPUs if one assumes ARPU's to be constant over a short period.

        The wholesale net adds revenue contribution in Q2 is probably light because 4G phone was introduced late in the quarter.