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Sprint closes Wi-MAX deal with Clearwire Print
Written by Network News Journal Staff   
Saturday, 29 November 2008

Clearwire has completed its merger with the unit of Sprint/Nextel on Friday.  The deal that brought the two companies together was announced in May of this year.  Together they are in the process of building a next-gen wireless data network.  The company formed by the merger will keep the Clearwire name. The aim is to create a network that uses WiMax, and make it available to 120 million to 140 million people.

Sprint will own 51 percent of the company while investors in the original Clearwire will own about 22 percent.  The remainder of the company will be owned by investors including Comcast, Intel, Time Warner Cable, Google and Bright House Networks, which have put in a total of $3.2 billion in cash.
 
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