Sprint Commits Another $1 Billion to Clearwire

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posted Nov 8, 2009, 8:59 PM   by Eric M. Zeman

Sprint and its investor partners have agreed to invest another $1.5 billion in Clearwire, provider of WiMax services. Sprint will front $1 billion, and Comcast, Intel, Time Warner Cable and Bright House Networks will contribute the remaining $500 million. Google, which has already made investments in Clearwire, is not partaking in this financing round. Clearwire and Sprint have been launching WiMax networks in various markets across the country, most recently Philadelphia, and have plans to launch more in 2010. So far, Sprint and Clearwire have about 511,000 subscribers.

more info at Wall Street Journal »

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