Sprint, Comcast, Time Warner Cable, and Bright House Networks (to name a few) continue to bet big on Clearwire’s WiMAX nationwide wireless network. The foursome have just pumped an additional $1.494 billion into Clearwire’s coffer, with another $50 million coming from Intel and $20 million from Eagle River Holdings. CHA-CHING.
More specifically, Sprint, which owns 51 percent of Clearwire, invested $1.176 billion, Comcast Corp. put in $196 million, Time Warner Cable Inc. dropped another $103 million, and Bright House Networks contributed a cool $19 million.
According to Christopher King, an analyst at Stifel Nicolaus, the new influx increased Clearwire’s cash stockpile to a whopping $1.8 billion and will help to mitigate the “funding gap” for its nationwide WiMAX network build-out to $3 billion. The new funds will purportedly allow Clearwire to hold off on raising more dough until at least the end of 2011.
[via Y! News]
its good to see oney invested in wireless communication networks, especially in challenging economic times as it is vital for the development of wireless communications.
The bad side is that this country won’t have a universal 4G system, like the GSM has in most European & Asian countries. When the technology is the same, consumer wins because carriers will fight for business by offering better phones and lower prices.