Clearwire Speculation is Inevitable

Craig McCaw's resignation as Clearwire chairman is bound to raise some questions about the company's future, though McCaw's investment group owns only about four percent of the firm's total equity. Still, a high-profile resignation of this type is bound to provoke questions.

Michael Mahoney, senior managing director for Falcon Point Capital LLC, is among those who think the departure is significant. "He is Clearwire," Mahoney says. "So you sort of think, 'Geez, are they going under?'"

Others will simply suggest that some major change of ownership is coming, and that any new majority or sole owner will name a new chairman. Nor is an ultimate Clearwire sale an unusual thought. Perhaps few analysts would ever have predicted that Clearwire would remain in business, under its own name, as an independent company, indefinitely.

No company Craig McCaw ever has founded has remained independent. Sprint already owns between 54 percent and 57 percent of Clearwire, depending on how one measures. And most observers would say six national 4G networks is an unstable situation.

Clearwire Chair Craig McCaw to Quit Today - BusinessWeek