Report: Cable on tap for 2nd Clearwire funding
Comcast, Time Warner Cable, Bright House Networks and Intel are set to invest another half a billion dollars into Clearwire, and Sprint another $1 billion.
Those five companies, along with Google, invested about $3.2 billion in Clearwire about a year and a half ago. Google will not participate in this round of funding, according to a report in The Wall Street Journal.
The WSJ also said that Clearwire had been looking for cash from other investors, including Deutsche Telekom, so far unsuccessfully.
Clearwire is in the process of a national rollout of a mobile WiMAX service, called Clear, that Comcast, TWC, Bright House and Sprint all have rights to re-brand and resell.
Clearwire said it is exceeding expectations in terms of subscriber numbers and has claimed all along that it has enough cash to keep expanding, but it has also been losing money.
Clearwire is trying to get a jump on the biggest U.S. cellular companies by rolling out its 4G WiMAX service before they can establish their competitive 4G services, based on LTE technology. Verizon Wireless vows to start rolling out LTE in 2010, and AT&T is expected to tag right behind.