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Comcast ups investment in Clearwire again

Fri, 11/20/2009 - 7:25am
Maisie Ramsay, Wireless Week

It looks like Clearwire is getting a little more cash than it originally planned. In a document filed yesterday with the Securities and Exchange Commission, Clearwire reported it was able to raise just over $2 billion in funding from its investors.

The company secured $1.6 billion in funding, up from the $1.45 offering proposed on Nov. 10. That cash will go toward paying off $1.4 billion in debt, netting the company an extra $200 million in cash.

Sprint and Comcast kicked in an extra $247 million in capital on top of the $1.56 billion from existing investors and Eagle River Holdings.

Together with the $200 million left over from the higher-than-anticipated offering, Clearwire managed to raise $2.01 billion in new funding.

More Broadband Direct 11/20/09:
•  Comcast Spotlight takes sales circulars to VOD
•  Verizon to announce FiOS launch plans in Philly
•  Report: Another drop in telecom capex in 2010
•  Comcast ups investment in Clearwire again
•  TV Guide Network, Comcast extend carriage agreement
•  Fox Business finds a home on Cablevision
•  3 charged in Pa. with redirecting Comcast traffic
•  eBay closes Skype sale
•  Broadband Briefs for 11/20/09

 

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