NEW YORK Oct 25 Clearwire Corp said on
Thursday that it cut its capital spending target for 2012 as it
is slowing down its network upgrade for high-speed wireless
services to conserve money.
The wireless service provider, whose biggest shareholder is
Sprint Nextel, cut its target for 2012 capital spending to
a range for $125 million to $175 million from its previous
budget of $350 to $400 million.
It also narrowed its forecast for an adjusted loss before
interest, tax, depreciation and amortization in a range of $150
million to a loss of $200 million, compared with its previous
target for a loss of $175 million to a loss of $225 million.