Updated with Sprint's plan to avoid impact from a potential Clearwire collapse.NEW YORK ( TheStreet) -- Clearwire ( CLWR) has failed to get its partners Sprint ( S), Comcast ( CMCSA), TimeWarner Cable ( TWC), Intel ( INTC) and Google ( GOOG) to invest more money in its network expansion bid and now says it is cutting staff, delaying new market launches and looking for alternate sources of funding. With a 54% stake in Clearwire, Sprint shares took a 3% hit on concerns that if Clearwire goes belly up, Sprint's standing with its lenders may suffer. As a result, Sprint indicated in a federal filing Friday that it could "take certain actions, at its own discretion and control, which would eliminate the potential for Clearwire to be considered a subsidiary of Sprint." You sort of knew this day was coming for Clearwire.
Readers Also Like: