Sprint and Clearwire to Combine WiMAX Businesses, Creating a New Mobile Broadband Company

Intel, Google, Comcast, Time Warner Cable and Bright House Networks to Invest $3.2 Billion in Combined Company, at Target Price of $20.00 per Share Formation of New Company Brings Together the Nation's Leaders in Comm

KIRKLAND, Wash. & OVERLAND PARK, Kan. — Clearwire Corporation (NASDAQ: CLWR) and Sprint Nextel Corporation (NYSE: S) today announced that they have entered into a definitive agreement to combine their next-generation wireless broadband businesses to form a new wireless communications company.

Business Wire

The new company, which will be named Clearwire, will be focused on expediting the deployment of the first nationwide mobile WiMAX network to provide a true mobile broadband experience for consumers, small businesses, medium and large enterprises, public safety organizations and educational institutions. The new Clearwire expects to dramatically enhance the speed and manner in which customers access all that the Internet has to offer at home, in the office and on the road.

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