The Puget Sound 4G Network Now Covers Nearly Three Million People
KIRKLAND, Wash., PHILADELPHIA, and OVERLAND PARK, Kan., July 19, 2011 (GLOBE NEWSWIRE) — Clearwire (NASDAQ:CLWR, news, filings), Comcast (NASDAQ: CMCSA) and Sprint (NYSE:S, news, filings) today announced an expansion of the Clearwire 4G network footprint and key capacity upgrades for mobile broadband customers in the greater Puget Sound, including communities on the Kitsap Peninsula, in Snohomish County and near Tacoma. The regional CLEAR®, XFINITY® Internet 2go and Sprint 4G service area has added coverage for an additional 240,000 people. Now, nearly three million Puget Sound area residents have access to Clearwire’s 4G mobile broadband network. This expansion represents enhanced coverage since Clearwire’s initial launch on Dec. 1, 2009.
Enhanced capacity and expanded coverage can be experienced in the following communities: Bellevue, Edmonds, Elk Plain, Everett, Federal Way, Frederickson, Kirkland, Lakewood, Lynnwood, Marysville, Parkland, Puyallup, Renton, Seattle Hill-Silver Firs, Seattle, South Hill, Spanaway, Tacoma, and Tukwila.
“The expansion of Clearwire’s 4G coverage and capacity provides our customers and those of our wholesale partners a wider service area and deeper network resources to better meet the rapidly growing demand for mobile broadband connectivity across the region,” said Amy Holly, regional general manager for Clearwire. “Consumers and businesses have recognized the important advantages of unlimited mobile broadband usage and we are committed to providing the best service experience in the greater Seattle-Tacoma area and anywhere within the Clearwire 4G network.”
“This is fantastic news for Sprint 4G customers in the Puget Sound,” said Kevin Kunkel, Sprint vice president-West Region. “Customers are eager for the latest 4G devices – either smartphones or mobile connectivity devices – and we are delivering. In fact, Sprint offers more than a dozen 4G devices available to customers today, and many of our service enhancements will ensure an even better 4G experience.”
“Comcast continues to drive innovation in the market by giving customers ways to extend its services to anywhere they work, live and play,” said Len Rozek, SVP of Washington Region for Comcast Cable. “The expansion of XFINITY Internet 2go in the Seattle area is another example of our focus in providing customers with an enhanced experience.”
4G customers in these cities will 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. A variety of 4G devices are available from both service providers.
A detailed coverage map of CLEAR 4G service is available at www.clear.com/coverage.
Additional information about Sprint 4G is available at www.sprint.com/4G.
Additional information about XFINITY Internet 2go is available at www.comcast.com/2go.
About Clearwire
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 130 million people live. 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® as well as through its wholesale relationships with Sprint, Comcast, Time Warner Cable, Locus Telecommunications, Cbeyond, Mitel and Best Buy. 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 Comcast Corporation
Comcast Corporation (NASDAQ: CMCSA, CMCSK) (www.comcast.com) is one of the nation’s leading providers of entertainment, information and communications products and services. Comcast is principally involved in the operation of cable systems through Comcast Cable and in the development, production and distribution of entertainment, news, sports and other content for global audiences through NBCUniversal. Comcast Cable is one of the nation’s largest video, high-speed Internet and phone providers to residential and business customers. Comcast is the majority owner and manager of NBCUniversal, which owns and operates entertainment and news cable networks, the NBC and Telemundo broadcast networks, local television station groups, television production operations, a major motion picture company and theme parks.
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 51 million customers at the end of 1Q 2011 and is widely recognized for developing, engineering and deploying innovative technologies, including the first 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; instant national and international push-to-talk capabilities; and a global Tier 1 Internet backbone. Newsweek ranked Sprint No. 6 in its 2010 Green Rankings, listing it as one of the nation’s greenest companies, the highest of any telecommunications company. You can learn more and visit Sprint at www.sprint.comor www.facebook.com/sprintand www.twitter.com/sprint.
Unlimited plans subject to CLEAR’s Acceptable Use Policy, posted at www.clear.com/legal/aup.
Clearwire, CLEAR, and the CLEAR logo are trademarks or registered trademarks of Clearwire Communications LLC in the United States and/or other countries. All other company or product names are trademarks of their respective owners.
Forward-Looking Statements
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 have a history of operating losses and we expect to continue to realize significant net losses for the foreseeable future.
- If our business fails to perform as we expect, we may require substantial additional capital, which may not be available on acceptable terms or at all, to be able to continue to operate.
- Our current plans, and our expectations about becoming EBITDA and cash flow positive, are based on a number of assumptions about our future performance, which may prove to be inaccurate, such as our ability to substantially expand our wholesale business and implement various cost savings initiatives.
- We expect that our business will become increasingly dependent on our wholesale partners, and Sprint in particular; if we do not receive the amount of revenues we expect from existing wholesale partners or if we are unable to enter into agreements with additional wholesale partners our business prospects, results of operations and financial condition could be adversely affected, or we could be required to revise our current business plans.
- 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, expanding our network coverage to new markets, augmenting our network coverage in existing markets, changing our sales and marketing strategy and or acquiring additional spectrum. Such modifications to our plans could significantly change our capital requirements.
- We have deployed a wireless broadband network based on mobile WiMAX technology, may need to deploy other 4G technologies such as LTE to remain competitive, and would incur significant costs to deploy alternative technologies. Additionally, such alternative technologies may not perform as we expect on our network and deploying such technologies would result in additional risks to the company, including uncertainty regarding our ability to successfully transition from the current technology to the new technology without disruptions to customer service.
- We may experience difficulties in maintaining and upgrading ournetworks, which could adversely affect customer satisfaction, increase subscriberchurn and costs incurred, and decrease our revenues.
- 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 22, 2011 and Quarterly Report on Form 10-Q filed on May 4, 2011. Clearwire assumes no obligation to update or supplement such forward-looking statements.
CONTACT: Regional Media for
Clearwire
Debra Havins
303-210-7269 (mobile)
debra.havins@clearwire.com
Regional Media for Sprint
Caroline Semerdjian
415-684-7314 (office)
caroline.semerdjian@sprint.com
Regional Media for Comcast
Steve Kipp
425-741-5757
steve_kipp@cable.comcast.com
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