Clearwire and Sprint Nextel complete merger

1 Dec 2008

Having been announced in May 2008, US-based broadband provider Clearwire has completed its merger with the unit of Sprint Nextel that is building a new wireless data network, the companies have announced via press release. The new company will retain the Clearwire name, and plans to create a WiMAX-based network that will cover almost 140 million potential customers. Sprint Nextel’s WiMAX network in the Baltimore region, developed originally under the Xohn brand, will be absorbed into the new entity, as will spectrum belonging to the wireless and broadband operator. Following the merger Sprint will own 51% of the new venture, while Clearwire will take a 22% stake; the remainder of the company will be owned by investors which include Comcast, Intel, Time Warner and Google.

United States, Clearwire, Sprint Corporation (now part of T-Mobile US)