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p0663 BC-SprintNextel-Clearwir 8thLd-Writethru 05-07 1303 clone |
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Daily Herald
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Clearwire, Sprint Nextel to merge
KANSAS CITY, Mo. -- Clearwire and Sprint Nextel said Wednesday they will combine their wireless broadband units to create a $14.55 billion communications company.
The new company, which will retain Clearwire's name, will continue developing a mobile network based on WiMax technology, which promises faster speeds than the latest cellular networks for movies, games and other data services.
A group of outside investors, including Intel Corp., Google Inc., Comcast Corp., Time Warner Cable Inc. and Bright House Networks, will kick in $3.2 billion for the new company. |
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