Sprint and Clearwire officially merging WiMAX operations
Looks like its official–Sprint and Clearwire have announced that they are combining their next-gen wireless (aka WiMAX) businesses.
Sprint will have 51 percent ownership but the venture will be called Clearwire and Clearwire shareholders will own 27 percent.
That still leaves 22 percent and that’s where the rest of WSJ’s story from yesterday comes in.
You might remember that in a WSJ story yesterday they named Comcast, Intel, Time Warner Cable, Google and Bright House as other investors and their sources were right–those companies are each contributing for the other 22 percent ownership, each combining to invest $3.2 billion.
Check out the full press release here if you’re interested.
What about AT&T and Verizon? They’re leaning towards the upcoming 4G service by LTE, but if WiMAX really takes off I’m sure they wouldn’t be opposed to making money off WiMAX.