Clearwire Corp. and Sprint Nextel Corp. on Wednesday, May 7, unveiled their long-awaited plan for creating a $14.5 billion company to build a next-generation wireless broadband network.
The venture has the backing of such blue-chip investors as Intel Corp., Google Inc. and Comcast Corp.
Sprint Nextel and Clearwire have been working for more than a year on creating a company to develop a WiMax network offering coast to coast wireless Internet at speeds up to five times faster than traditional wireless.
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