Clearwire stockholders have waved goodbye to the old Clearwire and hello to a new Clearwire by approving a combination with Sprint Nextel's WiMAX business and a $3.2 billion investment from cable operators Comcast, Time Warner Cable and Bright House Networks along with Google and Intel.
Following a unanimous recommendation from Clearwire's board of directors, the stockholders voted for a "new" Clearwire which, under Sprint's direction, will develop a nationwide mobile WiMAX network.
The deal, which Clearwire CEO Benjamin Wolff in a news release called a "transformative step enabling an entirely new mobile Internet experience," already cleared regulatory hurdles, including getting FCC approval. Barring some unforeseen circumstance, everything is expected to close and the new company will be building WiMAX networks by the end of the year.
- see this news release
New Sprint-Clearwire deal a shot in the arm for mobile WiMAX
FCC approves Sprint-Clearwire WiMAX combo