Tuesday, November 10, 2009

Clearwire Confirms $1.5 Billion Fundraising Effort

Kirkland-based Clearwire confirmed today that it is in a deal to raise $1.564 billion in new investment capital, coming from Sprint Nextel Corporation, Comcast, Time Warner Cable, Intel Corporation, Eagle River Holdings, and Bright House Networks. The firm said the strategic funding will allow it to support its "aggressive" 4G WiMax network build plans. Clearwire also broke down the contribution of its individual investors to the funding, saying that Sprint Nextel invested $1.176 billion, Comcast $196 million, Time Warner Cable $103 million, Intel $50 million, Eagle River $20 million and Bright House Networks $19 million in the round.