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Sprint and Clearwire Join Forces, Receive $3.2 Billion From Technology and Communication Companies
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Sprint Nextel Corporation and Clearwire Corporation have announced plans this morning to combine their next generation wireless broadband businesses into a new wireless communication company. The new company, which will be named Clearwire, will have the focused goal of the developing of the first nationwide WiMAX network.
In support of this new merger and the development goals of the nationwide WiMAX network, five technology and communications companies, Google, Intel, Comcast, Time Warner Cable, and Bright House Networks, have pledged a $3.2 billion invest to Clearwire.
The hope is that the merger of Sprint and Clearwire and the initial $3.2 billion investment will spearhead access to the next generation of Internet use throughout the wireless community. The collaboration between these different companies displays the growing interconnectedness of Internet, communications, media, and entertainment in the world and the desires of mobile device users to have faster and more reliable access to the web wherever they may be.
for more information read the Official Press Release
