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Sprint and Clearwire Merge WiMax Businesses

May 7, 2008, 7:10 AM by Eric M. Zeman

Today Sprint Nextel and Clearwire Corporation announced that they will combine the two companies' WiMax businesses to create one national WiMax network. The new company will be called Clearwire and its goal will be to build out a high-speed wireless mobile WiMax network covering much of the U.S. Several other companies, including Comcast, Time Warner, Intel and Google, have contributed funds--totalling $3.2 billion--to this new company. Once the paperwork filings for the new company are complete, Sprint will own 51% of Clearwire, the former Clearwire investors will hold 27%, and the group of investing companies will own the remaining 22%. Part of the plan will allow the cable company investors to resell Xohm WiMax services to their cable customers. The service will provide mobile internet access to all types of consumer electronics devices, including laptops and cell phones. The company expects to be fully formed by the fourth quarter of 2008. It did not provide any information on when WiMax services will actually become available beyond Clearwire's existing customers and Sprint's test markets.

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Comments

This forum is closed.

This forum is closed.

Omagus

May 7, 2008, 9:25 AM

Well

Sprint is just all over the news these days. That could be good or bad...

rjflyn

Trying to make sense of it all. Merging here, selling there, bought out over here. Who knows.

I get the feeling the cell phone business is going to be sold to DT, broadband to this new venture and Nextel spun off on it own. Anyone else have a...
(continues)

...

nextel18

Looks like it will be to the benefit that way because this move is a very attractive one for potential funders of those who want to take part like current mentioned and other ones but more importantly to be able to try to sell Sprint to Google or DT o...
(continues)

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