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Report: Cable on tap for 2nd Clearwire funding

Mon, 11/09/2009 - 7:40am
Brian Santo

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.

More Broadband Direct 11/09/09:
•  Impairment charge sinks Charter's Q3
•  GE, Comcast edge closer to NBC Universal deal
•  Cox Business scores with financial firms
•  Report: Cable on tap for 2nd Clearwire funding
•  Dish's earnings dip in Q3, subscribers grow
•  Windstream's revenue down in Q3; D&E purchase OK'ed
•  Moto targets IPTV with Mediaroom integration
•  Google to buy mobile ad network for $750M
•  Sony: 'What we're doing is game-changing for TV'
•  Software cos. eye key patent case in Supreme Court
•  Liberty Media revenue up at 2 biggest businesses
•  Broadband Briefs for 11/09/09

 

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