Sprint And Clearwire Complete WiMAX Deal

Clearwire Corporation and Sprint Nextel have announced that they have completed the deal to merge their next-generation wireless Internet businesses. Sprint will contribute all of its 2.5GHz spectrum and its WiMAX-related assets, which includes its XOHM business, though Clearwire will be dropping the XOHM branding and will be calling it “Clear” instead. Clearwire has also received a whopping $3.2 billion cash investment from giants such as Comcast, Intel, Time Warner Cable, Google and Bright House Networks. The transaction was completed based on the terms that were originally announced on May 7th 2008. The new company will retain the name Clearwire, and its headquarters will still be in Kirkland, Washington.