Sprint and Clearwire Merge WiMax Businesses

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posted 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.

more info at Sprint »

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