Clearwire To Get More Cash From Sprint, Comcast, Others

Clearwire (CLWR) is going to get another $1.5 billion in capital from some of its key corporate investors, according to the Wall Street Journal, which cits “two people familiar with the matter.” The company needs the additional capital to build out its WiMax wireless broadband network.

The Journal writes that Sprint (S), already a majority investor in Clearwire, will plunk down another $1 billion, while a group that includes Comcast (CMCSA), Intel (INTC), Time Warner Cable (TWC) and Bright House Networks will throw in another $500 million. Previous investor Google (GOOG) isn’t supposed to be in this round. The same group invested $3.2 billion in Clearwire 18 months ago.

In case you were wondering (I was): As of the end of September, according to a 10-Q filed last week, Sprint had about $5.9 billion in cash and short-term investments.

In today’s trading:

• Clearwire is up 33 cents, or 5.1%, to $6.83.


• Sprint is up 20 cents, or 7%, to $3.05.