Clearwire Corporation has executed a definitive agreement to raise $1.564 billion in new investment capital from Sprint Nextel, Comcast, Time Warner Cable, Intel, Eagle River Holdings, and Bright House Networks in exchange for newly issued shares priced at $7.33 per share. Sprint Nextel is kicking in the lion’s share of new equity financing with $1.176 billion. Comcast has committed $196 million; Time Warner Cable $103 million; Intel $50 million; Eagle River $20 million; and Bright House Networks $19 million.

"This additional level of strategic funding marks another important milestone in the progress of Clearwire, and will enable us to maintain our leadership and aggressive 4G WiMAX network build plans," said Bill Morrow, CEO of Clearwire, in a statement.

The Daily

Subscribe
Friday–January 15

RMCA Transforms into Media+Tech Collective

The Rocky Mountain Cable Association is tearing down all its boundaries. On the surface, it may look like its just-revealed rebrand to the Media+Tech Collective is the latest example of a group shedding cable

Read the Full Issue
The Skinny is delivered on Tuesday and focuses on the cable profession. You'll stay in the know on the headlines, topics and special issues you value most. Sign Up