toggle

AAPL Stock: 122.77 ( -1.73 )

Printed from http://www.macnn.com

Clearwire shareholders approve Sprint WiMAX deal

updated 04:45 pm EST, Thu November 20, 2008

Clearwire Sprint deal a go

A merger between telecommunications companies Sprint and Clearwire announced back in May could be completed before year's end, as Clearwire's shareholders have approved the deal today, according to a Thursday report. Earlier this month, the FCC approved the merger as well, bringing the $14.6 billion venture one step closer to completion. The new company, also called Clearwire, will work on developing a mobile network based on WiMAX technology that promises wireless data transfer rates faster than any current network, approaching wired broadband speeds.

Sprint currently offers the WiMAX broadband network in Baltimore, MD under its Xohm brand. The deal has been opposed by competitor AT&T, which says the two companies have avoided full government scrutiny necessary to go ahead with their project, giving them an unfair advantage over AT&T and other carriers. Google, Intel and an unnamed group of cable companies will also invest in the newly formed Clearwire company.




by MacNN Staff

POST TOOLS:

TAGS :

toggle

Comments

Login Here

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

toggle

Network Headlines

Follow us on Facebook

toggle

Most Popular

Advertisement

Recent Reviews

15-inch MacBook Pro with Force Touch

Apple's 15-inch Retina MacBook Pro continues to be a popular notebook with professional users and prosumers looking for the ultimate ...

Typo keyboard for iPad

Following numerous legal shenanigans between Typo -- a company founded in part by Ryan Seacrest -- and the clear object of his physica ...

Entry-level 27-inch Retina iMac

The 27-inch Apple iMac with 5K Retina display is already one of the best value-for-money Macs that Apple has ever released. It was som ...

toggle

Most Commented