“After thorough review and analysis of our municipal wireless business we have decided that making significant further investments in this business could be inconsistent with our objective of maximizing shareholder value,” said Rolla P. Huff, EarthLink president and CEO. [prnews]
So no more money for any muni projects. “The net book value of the assets attributable to EarthLink’s municipal wireless business is approximately $40 million.” What will ELN do? Will ELN ride out its cashflow position, as looks to a buyer? Maybe ask Platinum Equity if they can join the PE team, which currently includes USR, Trinsic/Z-Tel, Matrix, and Covad.
If this story looks similar to the one on WISPA's site, it is a result of the same guy writing for both sites.