Clearwire (CLWR) Higher as FCC Backs Faster 4G Expansion, Cuts Unnecessary Regulation

August 3, 2012 1:11 PM EDT
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Clearwire Corp. (Nasdaq: CLWR) shares are much higher on the session following a decision earlier by the Federal Communications Commission (FCC) with respect to wireless Internet.

According to a news release, the FCC is moving to accelerate the roll-out of fourth-genertation (4G) broadband networks, accelerate the role of expanded wireless broadband communications in national economic revitalization and job creation, and bring new broadband services to rural areas.

In addition, the FCC said unnecessary regulations would be eliminated.

Operators will also see cost savings via the use of smaller antennas in certain microwave bands. This will allow for increased deployment in rural areas, better coverage, and reduced cost.

Shares of Clearwire are off of highs, but still up 11 percent Friday.

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