WiMAX

WiMAX Featured Articles

More WiMAX Community Stories

November 09, 2009

Sprint Nextel Puts More Money into Clearwire for Next-Gen Networks

By Marisa Torrieri
TMCnet Editor

Sprint (News - Alert) Nextel will invest at least $1 billion more into Clearwire Corp., the Wall Street Journal reported, citing two people familiar with the matter.
 
The latest round of funding will help Kirkland, Wash.-based Clearwire (News - Alert) build out its proposed 4G mobile broadband service, called CLEAR, which is based on WiMAX technology. The plan is for CLEAR to be available in all metropolitan areas across the United States.
 
The financial infusion comes 18 months after Sprint, Intel (News - Alert), Comcast and other partners first invested $3.2 billion into Clearwire. That deal gave Sprint and its partners a big ownership stake in Clearwire, which lost $241.4 million in the quarter ending June 30, according to the Journal.
 
Clearwire’s shares have continually taken a hit as the company has struggled to build out CLEAR. Shares have traded as high as $9 this year, but tumbled to around $6.50 in recent weeks, according to reports. Clearwire will report its latest quarterly results on Tuesday.
 
Sources said Clearwire had in recent months made failed attempts to attract capital from other telecom stalwarts, such as Deutsche Telekom AG, the Journal reported.
 
Founded in 2003, Clearwire currently provides 4G service, utilizing WiMAX (News - Alert) technology, in 17 markets and provides pre-WiMAX communications services in 40 markets across the United States and Europe.
 
At the end of June, Clearwire reportedly had 511,000 phone and Internet subscribers in the United States.

Marisa Torrieri is a TMCnet Web editor, covering IP hardware and mobility, including IP phones, smartphones, fixed-mobile convergence and satellite technology. She also compiles and regularly contributes to TMCnet's gadgets and satellite e-Newsletters. To read more of Marisa's articles, please visit her columnist page.

Edited by Marisa Torrieri


comments powered by Disqus