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Under the terms of the deal, Sprint will also hold more than 50 percent ownership over Clearwire's Class A Common Stock. In a quarterly filing over the summer, Clearwire revealed that Sprint owned only Class B Common Stock. In today's filing, the carrier assumes the conversion of 706 million Class B shares into Class A shares, giving it 50.8 percent ownership. The deal between Sprint and Eagle River Holdings was rumored to be in the works yesterday. According to reports, Clearwire was a major sticking point in Softbank's recent announcement that it will acquire a 70 percent stake in Sprint for $20.1 billion. The Japan-based carrier reportedly said that it wanted Sprint to acquire Clearwire.

Clearwire, which offers 4G services to carriers and consumers in select markets, was viewed highly by Softbank, which wants to take advantage of the company's services, iphone 6s case according to reports, However, Softbank is one of the few companies to actually see value in Clearwire, After a multibillion-dollar investment by Sprint, Google, Intel, and Comcast propped up Clearwire in 2008, the company's goal of establishing a fully realized national wireless network never really materialized, Sprint's partner investors have largely bought their way out of Clearwire for fear of teaming with a sinking ship..

Sprint hasn't indicated how it will use its new majority ownership. CNET has contacted both Sprint and Clearwire for comment. We will add their comments when we hear back from them. This story has been updated throughout the morning. The company won't acquire Clearwire outright, but has obtained enough shares to take majority voting power, and thus, control the company. The drama between Sprint and Clearwire might finally be coming to an end. The carrier announced today in a Securities and Exchange Commission filing that it has entered into a deal with Eagle River Holdings that will see it receive additional voting power.

Through a combination of cost cuts and an effort to squeeze as much profit out of the rest of the business, Verizon managed to avoid that fate, Today, it posted a iphone 6s case third-quarter profit of $1.59 billion, or 56 cents a share, compared with a year-earlier profit of $3.54 billion, or 49 cents a share, Excluding one-time costs related to patent litigation settlements, the company earned 64 cents a share, Revenue, meanwhile, rose 3.9 percent to $29 billion, Analysts had an average estimate of 64 cents a share in earnings and $29 billion in revenue, according to Thomson Reuters..

That could change in the fourth quarter as iPhone sales ramp up. Since the iPhone 5 launched with only a week to go in the quarter, Verizon could only sell so many units. It was also hampered by the broader supply constraints that have been affecting Apple. It sold 3.1 million iPhones in the period, with 651,000 of them being iPhone 5 units. Chief Financial Officer Fran Shammo warned on a conference call today that the iPhone impact would cut into Verizon's profitability a little, but it wouldn't be as bad as a year ago.