Report: Investors to Pump $1.5B into Clearwire
Posted by Jesse Ward on Monday, November 9, 2009 · 
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Sprint Nextel and several other companies plan to make additional investments in Clearwire, according to published reports in the Wall Street Journal and Bloomberg News.
Clearwire, which currently offers mobile WiMAX service in 16 markets, plans to extend its coverage to 80 markets by the end of 2010, and has said in recent week that it needs an additional $2 billion in capital to complete the build out.
The Wall Street Journal reported that Sprint, which has a 51% stake in Clearwire, will contribute an additional $1 billion, while other investors including Comcast, Intel, Time Warner Cable and Bright House Networks, reportedly will contribute an additional $500 million.
It’s important to note that Google, an original investor in the Clearwire WiMAX network, is thought to be absent from this round of funding, according to the WSJ’s sources.
The new Clearwire was formed back in May 2008, and injected with an initial round of funding totaling $3.2 billion. The wireless provider is expected to announce the new round of funding tomorrow, during its scheduled quarterly earnings report.
Bloomberg has more.
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