The on-again-off-again relationship between Sprint and Clearwire appears to be back on again. The Wall Street Journal is reporting that the two companies will soon announce a $12 billion partnership for their WiMax networks, giving users across the country true high-speed wireless access for their cell phone and laptop. The relationship has some pretty big backers too; Comcast has a $1.05 million stake, Intel $1m, Time Warner Cable $550m and Google is in for $500m.
source: Wall Street Journal
The deal is done. XOHM is no more, the new company will be called Clearwire despite Sprint's 51% stake. Existing Clearwire shareholders will own 27%, and the remaining 22% is divvied up between Intel, Comcast, Time Warner Cable, Google and Brighthouse.
source: Business Wire