Clearwire and Sprint Nextel will merge their wireless broadband units to create a new $14.55 billion communications company. The new firm, to be named Clearwire, will receive a $3.2 billion investment from Intel, Google, Comcast, Time Warner, and Bright House. Sprint Nextel will be majority owner with a 51 percent equity stake, while existing Clearwire shareholders will receive 27 percent interest. Clearwire will concentrate on launching a mobile network based on the emerging WiMAX standard, which promises faster download speeds than the latest networks run by mobile-telephone operators and it is seen as a possible competitor to fixed-line broadband. Rivals such as AT&T and Verizon have not embraced WiMAX, instead choosing upgrades to their current wireless broadband networks and a future technology called Long Term Evolution.
