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Gerard Hallaren

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  • Verizon Set To Shake Up CDN Market With Proposed EdgeCast Buy [View article]
    Content Delivery Network -- a network optimized for delivering content, primarily video, but also music
    Dec 10 09:21 AM | Likes Like |Link to Comment
  • Is Gold Resource Corp.'s Dividend Unsustainable? [View article]
    I agree with most of the comments in opposition to the author. But the Investment Doctor makes one good point. The name should be Silver Resource Corporation.
    Nov 26 08:33 AM | 1 Like Like |Link to Comment
  • Is Sprint A Sell After The Earnings Report? [View article]
    800 and 900 MHz spectrum is fairly common in the industry. Sprint's 900 MHz licenses are quite small and could be sold or used in another spectrum swap. The 800 stuff is low frequency, good for voice coverage and rural data.
    Aug 26 01:00 PM | Likes Like |Link to Comment
  • Is Sprint A Sell After The Earnings Report? [View article]
    Sprint's IR says otherwise.
    Aug 22 04:51 PM | Likes Like |Link to Comment
  • Is Sprint A Sell After The Earnings Report? [View article]
    1. Yup
    2. Yup
    3. Not yet, maybe they should sell this spectrum.
    4. mostly correct
    5. have you figured out where the money comes from to do this?
    6. Yup, though it might be better to say "Stole" Clearwire. Not quite double but that is just me being picky.
    7. Yup it had little or nothing to do with Masayoshi Son. Not so sure about uneventful though. Absent recaptures from Nextel and US Cellular, Sprint lost subs and customers.
    Yes, I maintain my Strong Buy on Sprint Stock
    Aug 19 01:48 PM | 1 Like Like |Link to Comment
  • Is Sprint A Sell After The Earnings Report? [View article]
    has not yet repurposed Nextel spectrum, I would not be surprised if it elected to sell the spectrum.

    Remember that excluding recaptured Nextel and US Mobile customers, postpaid subscribers and prepaid customers declined in the quarter.

    EBITDA is not the dominant factor in executive compensation.
    Aug 19 01:16 PM | Likes Like |Link to Comment
  • The FCC has reportedly approved SoftBank's (SFTBY.PK) $21.6B acquisition of 78% of Sprint (S) by a vote of 2-1 and it has authorized the U.S. carrier's purchase of the roughly 50% of Clearwire (CLWR) that it doesn't already own. FCC backing was the final U.S. regulatory hurdle that needed to be overcome. Clearwire shareholders are due to vote on the Sprint deal on Monday. [View news story]
    I'd like it better if the FCC allowed an official announcement, the document you site is a Sprint 13-F which disagrees with your conclusion. I think the FCC will allow the Clearwire deal. To the best of my knowledge it has not yet granted approval.
    Jul 3 09:54 AM | Likes Like |Link to Comment
  • Dish Ups Clearwire Bid In A High-Stakes Game Of Poker With Softbank [View article]
    I have not read Sprint's Delaware complaint so it is hard to comment. Please post if you have a copy. For all of its sophistication, Delaware Chancery Court does not offer a good electronic filing system. The opposing complaint has many issues. To me the most persuasive, is that, at least some of, Clearwire's directors have a fiduciary responsibility to all shareholders and that has been breached.

    The sad thing is that it now looks like Sprint has all the votes it needs. IMHO, Mt. Kellet, Chesapeake, Glenview, and Highside sold out too cheap.
    Jun 23 08:56 AM | Likes Like |Link to Comment
  • Clearwire (CLWR +26%) is now within $0.02 of Dish's (DISH +0.5%) $4.40/share offer price; upgrades from DA Davidson and Raymond James could be helping. Macquarie asserts the move "forces SoftBank (SFTBF.PK) to negotiate with Dish," and raises the odds SoftBank walks away from Sprint (S +0.3%). The firm thinks Sprint will now have to offer $4.50+/share for Clearwire. Likewise, JPMorgan argues Dish is "attempting to de-value the Softbank bid by injecting itself into Clearwire as a permanent ... minority shareholder." Wells Fargo: "We can't see how Charlie doesn't win here--he is either going to get the partnership we believe he always wanted ... or he is going to walk away with a significant amount of spectrum." [View news story]
    First of all Dish's bid for LightSquared spectrum was based on and valued as Satellite spectrum.

    I think you are right about Sprint walking away. Upping its bid for Clearwire by such a small amount is an error of biblical proportion.

    Think about this, Sprint has cost Charlie a fair bit of dough. Dish paid Sprint something like $115 MM to shut up about TerraStar and ICO. Somehow Sprint wormed out of this and it remained a vocal critic of Charlie's work to get his satellite spectrum licensed. Ultimately, the FCC rendered 5 MHz of Dish's 40 MHz of limited use. I think it would be very hard for Dish and Sprint to agree on a hosting agreement.
    Jun 5 03:42 PM | Likes Like |Link to Comment
  • Dish Ups Clearwire Bid In A High-Stakes Game Of Poker With Softbank [View article]
    Standstill Agreement
    The Equityholders’ Agreement provides that Sprint, Intel and the Strategic Investors will not be able to purchase any common stock of the Company for at least five years after the Closing, subject to certain exceptions, which exceptions include the acquisition by an Equityholder of 100% of the outstanding common stock of the Company where such acquisition has been approved by a majority of both the board of directors and stockholders of the Company. Eagle River is not subject to this restriction.
    Jun 5 11:37 AM | Likes Like |Link to Comment
  • Dish Ups Clearwire Bid In A High-Stakes Game Of Poker With Softbank [View article]
    Item 3.03. Material Modification to Rights of Security Holders.
    At the Closing, the Charter and the Company’s Bylaws became effective.
    In general, the Charter and the Company’s Bylaws provide that the approval of the holders of at least a majority of all of the votes cast by the stockholders present and entitled to vote at a stockholder meeting at which a quorum is present will be required for corporate action that requires a stockholder vote. However, the Charter provides that the approval of the holders of at least 75% of all of the outstanding shares of capital stock of the Company entitled to vote in the election of directors, voting together as a single class, will be required to approve certain actions constituting a change of control of the Company or Clearwire Communications. In addition, the Charter and the Company’s Bylaws provide that special meetings of the stockholders may only be called by a majority of the board of directors, the chairman of the board, the chief executive officer, the president, the holders of at least 662/3 in voting power of all of the then-outstanding shares of Class B Common Stock or the holders of at least 50% in voting power of the then-outstanding shares of Class A Common Stock.
    Under the Charter, holders of Class A Common Stock or Class B Common Stock are subject to certain transfer restrictions. In addition, a holder of Class B Common Stock will be able to exchange one share of Class B Common Stock together with one Clearwire Communications Class B Common Interest for one share of Class A Common Stock. If any holder of Class B Common Stock attempts to transfer a share of Class B Common Stock without a corresponding Clearwire Communications Class B Common Interest, that share of Class B Common Stock will be redeemed by the Company for its par value.
    The foregoing descriptions of the Charter and the Company’s Bylaws do not purport to be complete and are qualified in their entirety by reference to the full text of the Charter and the Company’s Bylaws which are filed as Exhibits 3.1 and 3.2 hereto and incorporated by reference herein.
    The information set forth under the heading “Equityholders’ Agreement” in Item 1.01 of this Report is hereby incorporated by reference into this Item.
    ITEM 5.01. Changes in Control of Registrant.
    The Transactions resulted in a change of control of the Company, with Sprint and the Investors receiving shares of Class A Common Stock and Class B Common Stock which represents approximately 81% of the Company’s outstanding voting power at the Closing.
    The information set forth under the heading “Equityholders’ Agreement” in Item 1.01 of this Report is hereby incorporated by reference into this Item.
    Jun 5 11:35 AM | Likes Like |Link to Comment
  • Dish Ups Clearwire Bid In A High-Stakes Game Of Poker With Softbank [View article]
    If Charlie is serious, he will make a public tender that does not require any board approval. At $4.40, he will not likely get enough minority shares to sustain the blocking position he needs if and when Sprint's board officially declines his Sprint merger proposal.

    It looks like Sprint made a major error in raising its Clearwire bid instead of walking in the short term.

    To ERB69: do the minority provisions outlast the standstill?
    Jun 4 10:04 AM | Likes Like |Link to Comment
  • Clearwire (CLWR +26%) is now within $0.02 of Dish's (DISH +0.5%) $4.40/share offer price; upgrades from DA Davidson and Raymond James could be helping. Macquarie asserts the move "forces SoftBank (SFTBF.PK) to negotiate with Dish," and raises the odds SoftBank walks away from Sprint (S +0.3%). The firm thinks Sprint will now have to offer $4.50+/share for Clearwire. Likewise, JPMorgan argues Dish is "attempting to de-value the Softbank bid by injecting itself into Clearwire as a permanent ... minority shareholder." Wells Fargo: "We can't see how Charlie doesn't win here--he is either going to get the partnership we believe he always wanted ... or he is going to walk away with a significant amount of spectrum." [View news story]
    Charlie is very smart. Should his tender prove successful he can block or at least mitigate Sprint damage to Clearwire. The market may like Charlie's $4.40 price, but that is still well below low case value estimates for Clearwire's spectrum portfolio.
    May 30 03:48 PM | Likes Like |Link to Comment
  • DISH moves closer to getting financing for its $25.5B bid for Sprint (S), receiving signed commitment letters from 5 banks for $9B, reports the WSJ. Dish hasn't yet paid commitment fees as Charlie Ergen is waiting for Sprint's board to declare Dish's offer potentially superior to SoftBank's (SFTBF.PK) $20.1B bid. Earlier, Dish responded to SoftBank's touting of the benefits of it gaining control of Sprint. [View news story]
    Before SoftBank borrowed dime 1, it had Sprint's board approval.
    May 24 12:57 PM | Likes Like |Link to Comment
  • What Clearwire Shareholders Are Mulling Over This Weekend [View article]
    That is true but it still requires 75% of the "unaffiliated" share holders to approve a Sprint merger.
    May 19 10:08 PM | Likes Like |Link to Comment
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