Clearwire Sells $1.5B In Equity To Back WiMax Growth

Law360, New York (November 10, 2009, 4:52 PM EST) -- Clearwire Corp.'s national 4G broadband infrastructure got a boost Tuesday when Sprint Nextel Corp., Comcast Corp., Time Warner Cable Inc. and Intel Corp. agreed to pump over $1.5 billion into the company as it expands its high-speed mobile WiMax network.

The investors, which are all current stockholders, will receive newly issued shares priced at $7.33. Sprint, which owns 51 percent of the Clearwire, will buy $1.176 billion, Comcast $196 million, Time Warner $103 million, Intel $50 million, and Eagle River Holdings LLC and Bright House Networks...
To view the full article, register now.