ISS Recommends Dish for Clearwire Buyout

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By Douglas A. McIntyre Updated Published
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Proxy firm ISS has sided with Dish Network Corp. (NASDAQ: DISH) in the battle between it and Sprint Nextel Corp. (NYSE: S) to buy Clearwire Corp. (NASDAQ: CLWR). The opinion means that the 4G spectrum that Dish needs to compete against AT&T Inc. (NYSE: T), Sprint and Verizon Wireless may become available soon. More importantly, the natural enemies of satellite broadcasting– the cable companies — will find themselves up against a more well-armed Dish as it can offer bundles of voice, TV and broadband.

Sprint has an offer to buy 78% of its shares from Japan’s Softbank. An alternative offer has been made by Dish. Between the two deals, the war between Dish and Softbank has become unusually complicated. Softbank believes that part of Sprint’s value is its ownership in Clearwire. Proxy firms have given Softbank the edge in the Sprint deal by recommending against Dish.

At this point, Softbank and Dish each likely will get only half of what they would like to have, which means each will walk away from the complex series of offers with visions of a combined Clearwire and Sprint tie up dead.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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