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.

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