Sprint - Nextel 2011 Annual Report Download - page 140

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Table of Contents
CLEARWIRE CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued)
The following table lists the voting interests in Clearwire as of December 31, 2011:
_
______________________________________
Intel, Comcast, Time Warner Cable and Bright House, collectively, whom we refer to as the Strategic Investors, and Sprint own shares of Class B Common Stock,
which have equal voting rights to Clearwire’s Class A Common Stock, but have only limited economic rights. Unlike the holders of Class A Common Stock, the holders
of Class B Common Stock have no right to dividends and no right to any proceeds on liquidation other than the par value of the Class B Common Stock. Sprint and the
Strategic Investors hold their economic rights through ownership of Class B Common Interests. Google Inc., which we refer to as Google, owns shares of Class A
Common Stock.
Clearwire Communications Interests
Clearwire is the sole holder of voting interests in Clearwire Communications. As such, Clearwire controls 100% of the decision making of Clearwire
Communications and consolidates 100% of its operations. Clearwire also holds all of the outstanding Clearwire Communications Class A common interests representing
33% of the economics of Clearwire Communications as of December 31, 2011. The holders of the Class B Common Interests own the remaining 67% of the economic
interests. It is intended that at all times, the number of Clearwire Communications Class A Common Interests held by Clearwire will equal the number of shares of
Class A Common Stock issued by Clearwire.
The non-voting Clearwire Communication units are designated as either Clearwire Communications Class A common interests, all of which are held by Clearwire,
or Class B Common Interests, which are held by Sprint and the Strategic Investors. Both classes of non-voting Clearwire Communication units participate in distributions
of Clearwire Communications on an equal and proportionate basis.
F-73
Investor Class A Common Stock
Class A Common
Stock Voting %
Outstanding Class B Common Stock
(1)
Class B Common
Stock % Voting
Outstanding Total Total % Voting
Outstanding
Sprint
627,945,914 74.8% 627,945,914 48.6%
Comcast
88,504,132 10.5% 88,504,132 6.9%
Time Warner Cable
46,404,782 5.5% 46,404,782 3.6%
Bright House
8,474,440 1.0% 8,474,440 0.7%
Intel 28,432,066 6.3% 65,644,812 7.8% 94,076,878 7.3%
Eagle River 30,922,958 6.8% 2,728,512 0.3% 33,651,470 2.6%
Google Inc. 29,411,765 6.5%
29,411,765 2.3%
Other Shareholders 362,859,489 80.2%
362,859,489 28.1%
CW Investment Holdings LLC 588,235 0.1%
588,235
%
452,214,513 100% 839,702,592 100% 1,291,917,105 100%
(1) The holders of Class B Common Stock hold an equivalent number of Class B Common Interests, except for Sprint. As of December 31, 2011, Sprint holds
705,359,348 Class B Common Interests in Clearwire Communications representing 51.5% of the economic interests.