Sprint and WiMax Partners to Invest Further $1.5 Billion In Clearwire

Sprint and several partners in the new Clearwire will be investing a further $1.5 billion in capital in order to assist the WiMax service provider in completing the first stage of the nationwide rollout of its WiMax network, which Clearwire has struggled with since the beginning of its current venture in April 2008. The most well-known partner in Google has chosen not to participate in this round of financing.

Clearwire’s Clear-branded service is currently available in Portland, Atlanta, Las Vegas and select markets in North Carolina and Texas, with the most recent launch in Philadelphia and select cities in the Dallas/Ft.Worth Metroplex.