Clearwire and Sprint Close Deal

This one has been a long time coming, but Clearwire and Sprint Nextel have officially announced the combination of their next-generation wireless Internet businesses. Under the terms of the combined agreement, Sprint will hand off all of its 2.5GHz spectrum and WiMAX-related assets (including XOHM) to Clearwire. In addition, Clearwire also made note that it has received a $3.2 billion cash from Comcast, Intel, Time Warner Cable, Google, and Bright House Networks. 

Other terms of the agreement as set forth on May 7, 2008 are being abided by as well. The company will retain the Clearwire name and its Kirkland, Washington headquarters. Further details on the deal are scant, but Clearwire announced a conference call for investors set for Monday, December 1. During the call, the company will share its perspective and provide additional details about the new company. 

We fully expected this news to come at some point; it was just a matter of time. Now, we’ll be anxiously watching as the new company rolls out WiMAX and the rest of us can start to really enjoy it.