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
Monday–September 21

Supply Chain: Fiber Demand Skyrockets in Age of COVID

Broadband and cable operator are running into supply chain problems as they embark on construction—particularly for fiber.

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