4G Coming to Kansas City, KS; Rochester and Syracuse, NY
Clearwire to Offer CLEAR(R)
Sprint to Offer Sprint 4G
Time Warner Cable to Offer Road Runner Mobile
KIRKLAND, Wash. & OVERLAND PARK, Kan. & NEW YORK, May 05, 2010 (BUSINESS WIRE) –Clearwire Corporation (NASDAQ:CLWR, news, filings), Time Warner Cable (NYSE:TWC, news) and Sprint (NYSE:S) today announced plans to launch their respective 4G mobile Internet services to additional cities in the summer of 2010. Each of the companies will offer 4G under their own 4G brand.
The companies plan to launch 4G mobile broadband services this summer in the following cities: Kansas City, KS; Rochester and Syracuse, NY. Consumers and businesses should expect to see additional network expansions throughout these cities, and a wide range of independent marketing and advertising initiatives.
The 4G customer experience from Clearwire, Sprint and Time Warner Cable is unlike any other wireless service available today from any national carrier. Customers in these cities will now be able to increase their mobility and productivity in many ways: from instantly downloading large files to get work done on the run, browsing the Web just like at home from across the city, or watching online videos and movies while travelling in the family car around town.
Clearwire, Sprint and Time Warner Cable 4G customers can expect to see wireless service significantly faster than today’s 3G. Clearwire and Sprint customers will also be able to purchase a wide range of 4G devices, including compact USB modems and other wireless devices, all aimed at making consumers’ mobile Internet experiences more efficient and productive when connected to the 4G network.
Clearwire’s 4G service is branded CLEAR. CLEAR offers super-fast mobile Internet service that works as fast on the go as it does at home. Customers will be able to purchase service online at www.clear.com, at CLEAR retail stores, from national retailers and local authorized dealers. For more information about pricing, services, devices, and local retail locations, visit www.clear.com.
Sprint’s 4G service is branded Sprint 4G. Sprint 3G/4G dual mode products available today combine the dependable nationwide Sprint 3G network with the turbo-charged wireless connectivity of Sprint 4G. With Sprint 4G, streaming video, fast file downloads and uploads and turbo-charged Web browsing are no longer just home, office or coffee shop benefits. Sprint 4G plans are available from Sprint retail stores, Best Buy stores, and local retailers in 4G service areas as well as Sprint telesales at 1-800-Sprint-1 or online at www.sprint.com/4G.
Time Warner Cable Road Runner Mobile
With Road Runner Mobile(TM), you get a secure, reliable Internet connection, away from home wherever you need it. No more searching for a public Wi-Fi hotspot – you have nationwide coverage on the 3G network plus super-fast 4G coverage in town and other 4G cities to download files, check email, update your profile, share photos or even watch your favorite show on the go. For more information visit www.timewarnercable.com.
Current 4G Markets
4G mobile broadband service is available today in 32 markets covering 41 million people. Services are offered by Clearwire and Sprint in each market as well as Time Warner Cable in select markets. By the end of 2010, Clearwire’s 4G mobile broadband network is expected to be available to up to 120 million people across the United States.
Clearwire and Sprint also announced today in separate releases the coming launch of service in additional cities across the United States.
Clearwire Corporation (NASDAQ:CLWR), through its operating subsidiaries, is a leading provider of mobile broadband services. Clearwire’s 4G network is currently available in areas of the U.S. where 41 million people live and the company plans to continue to expand its 4G coverage. Clearwire’s open all-IP network, combined with significant spectrum holdings, provides an unprecedented combination of speed and mobility to deliver next-generation broadband access. The company markets its service through its own brand called CLEAR(R) as well as through its wholesale relationships with Sprint, Comcast and Time Warner Cable. Strategic investors include Intel Capital, Comcast, Sprint, Google, Time Warner Cable, and Bright House Networks. Clearwire is headquartered in Kirkland, Wash.; additional information is available at http://www.clearwire.com.
About Sprint Nextel
Sprint Nextel offers a comprehensive range of wireless and wireline communications services bringing the freedom of mobility to consumers, businesses and government users. Sprint Nextel served more than 48 million customers at the end of the first quarter of 2010 and is widely recognized for developing, engineering and deploying innovative technologies, and the first and only wireless 4G service from a national carrier in the United States; offering industry-leading mobile data services, leading prepaid brands including Virgin Mobile USA, Boost Mobile and Assurance Wireless and instant national and international push-to-talk capabilities; and a global Tier 1 Internet backbone. With its customer-focused strategy, you can learn more and visit Sprint at www.sprint.com or www.facebook.com/sprint and www.twitter.com/sprint.
About Time Warner Cable
Time Warner Cable is the second-largest cable operator in the U.S., with technologically advanced, well-clustered systems located mainly in five geographic areas — New York State (including New York City), the Carolinas, Ohio, Southern California (including Los Angeles) and Texas. Time Warner Cable serves more than 14 million customers who subscribe to one or more of its video, high-speed data and voice services. Time Warner Cable Business Class offers a suite of phone, Internet, Ethernet and cable television services to businesses of all sizes. Time Warner Cable Media Sales, the advertising arm of Time Warner Cable, offers national, regional and local companies innovative advertising solutions that are targeted and affordable. More information about the services of Time Warner Cable is available at www.timewarnercable.com, www.twcbc.com and www.twcmediasales.com.
This release, and other written and oral statements made by Clearwire from time to time, contains forward-looking statements which are based on management’s current expectations and beliefs, as well as on a number of assumptions concerning future events made with information that is currently available. Forward-looking statements may include, without limitation, management’s expectations regarding future financial and operating performance and financial condition; proposed transactions; network development and market launch plans; strategic plans and objectives; industry conditions; the strength of the balance sheet; and liquidity and financing needs. The words “will,” “would,” “may,” “should,” “estimate,” “project,” “forecast,” “intend,” “expect,” “believe,” “target,” “designed,” “plan” and similar expressions are intended to identify forward-looking statements. Readers are cautioned not to put undue reliance on such forward-looking statements, which are not a guarantee of performance and are subject to a number of uncertainties and other factors, many of which are outside of Clearwire’s control, which could cause actual results to differ materially and adversely from such statements. Some factors that could cause actual results to differ are:
- We are an early-stage company with a history of operating losses and we expect to continue to realize significant net losses for the foreseeable future.
- Our current and future plans are subject to a number of conditions and uncertainties, including among others, our ability to manage ongoing market development activities (including the development of over 10,000 sites), our performance in launched markets and our access to additional funding.
- We regularly evaluate our plans, and we may elect to pursue new or alternative strategies which we believe would be beneficial to our business, including among other things, modifying the pace at which we build our 4G mobile broadband networks, augmenting our network coverage in markets we launch, changing our sales and marketing strategy and or acquiring additional spectrum.
- If our business fails to perform as we expect, or if we elect to pursue new plans or strategies, we may be required to raise substantial additional financing, and if we are unable to raise such financing on acceptable terms we may need to modify our plans accordingly.
- We may fail to realize all of the anticipated benefits of the transactions with Sprint and the strategic investors.
- We are committed to using commercially reasonable efforts to deploy wireless broadband networks based solely on mobile WiMAX technology, even if there are alternative technologies available in the future that are technologically superior or more cost effective.
- We currently depend on our commercial partners to develop and deliver the equipment for our legacy and mobile WiMAX networks.
- Many of our competitors are better established and have significantly greater resources, and may subsidize their competitive offerings with other products and services.
- Our substantial indebtedness and restrictive debt covenants could limit our financing options and liquidity position and may limit our ability to grow our business.
- Sprint Nextel Corporation owns a majority of our shares, resulting in Sprint holding a majority voting interest in the Company, and Sprint may have, or may develop in the future, interests that may diverge from other stockholders.
- Future sales of large blocks of our common stock may adversely impact our stock price.
For a more detailed description of the factors that could cause such a difference, please refer to Clearwire’s filings with the Securities and Exchange Commission, including the information under the heading “Risk Factors” in our Annual Report on Form 10-K filed on February 24, 2010. Clearwire assumes no obligation to update or supplement such forward-looking statements.
SOURCE: Clearwire Corporation
For additional information or to request an interview: Local/Regional Media: Clearwire Chris Comes, 847-993-9661 firstname.lastname@example.org or National Media and Industry Analysts: JLM Partners for Clearwire Mike DiGioia, 206-381-3600 email@example.com or Sprint Stephanie Vinge-Walsh, 310-213-0039 firstname.lastname@example.org or Time Warner Cable Justin Venech, 212-364-8242 email@example.com