Reports Sprint/Clearwire Revive WiMax Venture With New Ambitious Plan (S, CLWR)

According to reports from the Wall Street Journal, Sprint (NYSE: S) and Clearwire (Nasdaq: CLWR) have revived joint venture talks to build a high-speed wireless WiMax network, citing people familiar with the matter.

The joint venture would bring in outside funding from Intel (Nasdaq: INTC), Google (Nasdaq: GOOG) and Best Buy (NYSE: BBY), which would lower the price tag for the ambitious project.

A Sprint/Clearwire WiMax plan was scrapped in November of last year, as Sprint, without a CEO, didn't want to make any major moves. The new revived plan could involve spinning off Sprint's WiMax unit and merging it with Clearwire, according to the paper.

Link To WSJ Article

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