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11.04.2008 - The Vote Is Already In - FCC Approves Clearwire, Sprint WiMAX Deal



View Intel-Press related news. The votes have been counted and the Federal Communications Commission (FCC) today gave their unanimous 5-0 blessing on the proposed Sprint and Clearwire merger of their WiMAX businesses. The New Clearwire will combine forces, "injecting new and meaningful competition into broadband marketplace" according to Federal regulators. Together, the company will continue to focus on deploying the first nationwide 4G wireless broadband WiMAX network, offering mobile Internet experiences to consumers, small businesses, medium and large enterprises, public safety organizations as well as educational institutions. Five key investors including Intel Corporation through Intel Capital, Google, Comcast, Time Warner Cable Inc., and Bright House Networks, will collectively invest a total of $3.2 billion into the new Clearwire at the closing of the transaction. Next up, Clearwire will conduct a special meeting of its stockholders on November 20, 2008 to vote on the transaction.

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Categories: Press Release
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