A “new” wireless communications giant created

By Tom Stundza -- Purchasing, 5/7/2008 10:24:00 AM

Sprint Nextel and Clearwire have created a $14.55 billion WiMax (wireless communications) joint venture with $3.2 billion in funding from such strategic investors as Intel, Google, Comcast and Time Warner Cable. It also will get investments from Trilogy Equity Partners and Bright House Networks.

The Associated Press reports that the “new” Clearwire company will concentrate on rolling out a mobile network based on the emerging WiMax standard. The plan is to install a network with faster download speeds than the latest networks run by cell-phone operators, and it's even seen as a potential competitor to fixed-line broadband.

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