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Clearwire Says Shareholder Vote Will Happen In Mid-November; Wants FCC To Approve Transaction Soon

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Clearwire’s (NSDQ: CLWR) CEO Ben Wolff announced what the senior staff appointments will be of the new Clearwire, following its merger with Sprint (NYSE: S) Nextel’s WiMax division, and provided an update on the merger and when they expect the FCC to approve the transaction in an email sent to employees. The full text can be found in a SEC document filed today. Clearwire and Sprint Nextel are in limbo as they wait to receive FCC approval on the merger between the two company’s WiMax operations. Following the transaction, the company will raise $3.2 billion of capital from Google (NSDQ: GOOG), Comcast (NSDQ: CMCSA), Time Warner (NYSE: TWX) Cable and Bright House Networks. Woff wrote: “Clearly the infusion of $3.2 billion of capital together with the tremendous talent, resources and benefits to our combined organization brought through the relationships with our new strategic partners puts us in great shape for moving forward with our game changing business, notwithstanding the current turmoil in the financial markets.”

SEE ALSO: Industry Moves: Clearwire Names Likely Executives To Lead Post-Merger; CFO Will Leave

On shareholder approval: Wolff: “Last week we filed the second amendment to the Clearwire Proxy Statement with the SEC. We expect to be able to mail the Proxy shortly and hold the shareholder vote in mid-November.”

On FCC approval: Wolff wrote: “you may have seen Chairman Martin’s recent comments in which he indicated that approving our transaction was one of his top priorities, and that he expected the approval to occur before year end, although we are making every effort in the hope of having the FCC act well before then. As a result, I continue to be confident that the transaction will close before the end of the year.”

On staff appointments: Last month, Wolff announced who the likely high-level execs will be when the two companies merge. The appointments will still need board approval. Today, he provided a detailed list of employees, who will report to those executives. A complete list is after the jump.

Barry West’s Team:
Ali Tabassi, WiMAX Ecosystem and Standards

John Saw’s Team:
Ali Afrashteh, WiMAX Development
Greg Jones, IT — Core Development
     
Atish Gude’s Team:
Don Stroberg, Pricing, Channel & Field Marketing Programs
Rick Robinson, Web Marketing and Customer Quality Assurance
Peter Cannistra, Market Development

Perry Satterlee’s Team:
Doug Smith, Network Engineering & Deployment - Eastern US
Magnus Ojert, Network Deployment — Eastern US
Eamon O’Leary, Network Engineering — Western US
John Storch, Network Deployment — Western US
Jim Ryder, Sales — Company Owned Distribution
Philip Gaske, Customer Care
Jeff Pearson (NYSE: PSO), IT — Operations
Mark Fanning, People Development

Ben Wolff’s Team:
Hope Cochran, Finance, Planning & Treasury (pending CFO appointment)
Bob DeLucia, Accounting
Steve Ednie, Tax and SOX
Mary Ekman, Investor Relations
Susan Johnston, Public Relations
     
Gerry Salemme’s Team:
Noelle Beams, Spectrum Acquisition & Management
Terri Natoli, Regulatory

Broady Hodder’s Team:
Ross Vincenti, Legal

Oct 14, 2008 3:49 PM ET

Posted In: Money, M&A & Venture Capital, Mergers & Acquisitions, Technologies / Formats, Broadband, WiMax, Companies, Clearwire, Sprint

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