This week, EarthLink Inc. (NASDAQ: ELNK) announced its Q4 results. There was a loss of $9.5 million, or $0.08 per share, which included a $31.1 million write-off from its wi-fi assets.
And, yes, now the company wants to offload the segment. So what does this mean for EarthLink, as well as the space?
Well, I had a chance to interview Craig Settles, who is the author of After Muni Wireless Comes to Town. According to him:
Probably the most common question this sale generates is, why would anyone want to buy the business? It ultimately depends on how much is the asking price, and what actual assets come with the deal. If you look back at Metricom, who marketed Ricochet, they didn't get a whole lot when they sold their business out of bankruptcy court.
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