AAPL Stock: 118.3 ( + 0.49 )

Printed from

Sprint nears closure on $12b WiMax deal

updated 06:25 pm EDT, Tue May 6, 2008

Sprint nears deal on WiMax

Sprint is nearing closure on a $12 billion joint venture with Clearwire, backed by industry giants such as Intel, Google, Time Warner, and Comcast, among others. The Wall Street Journal reveals that Sprint would merge its wireless broadband services with Clearwire, after raising a total of $3.2 billion from the aforementioned technology and wireless firms, of which the final approval was given Tuesday. The announcement could come as soon as Wednesday, according to insiders.

The deal still requires approval from regulators, but would give all firms involved a chance to construct the future of mobile internet access, as well as provide the firms with expanded revenue generation by diversifying business stratagems. It also gives WiMax a chance to propagate in the face of competition from Long Term Evolution (LTE).

For Sprint, the deal allows the company to compete with, and surpass in some ways, competitors AT&T and Verizon Wireless, who currently look to 3G wireless standards, offering an eighth of the speed of WiMax.

by MacNN Staff



Login Here

Not a member of the MacNN forums? Register now for free.


Network Headlines

Follow us on Facebook


Most Popular


Recent Reviews

Ultimate Ears Megaboom Bluetooth Speaker

Ultimate Ears (now owned by Logitech) has found great success in the marketplace with its "Boom" series of Bluetooth speakers, a mod ...

Kinivo URBN Premium Bluetooth Headphones

We love music, and we're willing to bet that you do, too. If you're like us, you probably spend a good portion of your time wearing ...

Jamstik+ MIDI Controller

For a long time the MIDI world has been dominated by keyboard-inspired controllers. Times are changing however, and we are slowly star ...


Most Commented