Clearwire confirmed it has raised more than $1.5 billion in new investment capital.
The commitments are from Sprint Nextel, Comcast, Time Warner Cable, Intel, Eagle River Holdings and Bright House Networks, which in turn get newly issued shares in the company. Sprint Nextel is providing $1.176 billion of the equity financing.
Clearwire said this new backing allows it to expand the national rollout of its 4G mobile Internet service.
CEO Bill Morrow called the development “further validation of the importance of our 4G network to our strategic investors. We all benefit from this robust, all-IP, high-bandwidth network that delivers an unmatched combination of Internet speed and mobility.”
Clearwire provides 4G service using WiMAX technology in 24 markets at present.