The Wall Street Journal is reporting today that Clearwire will be getting a major boost soon in the form of hefty contributions from its investors. Sprint, who owns 51% of Clearwire, will be investing $1 billion, and Comcast, Intel, Time Warner Cable, and Bright House Networks - all of whom invested in the initial creation of the Clearwire company last year - have all agreed to contribute an additional $500 million. Noticeably absent from this list of investors is Google, who invested in Clearwire initially but is apparently not participating in this round of funding.
The money will be used to help Clearwire continue to expand their CLEAR WiMAX network. With Verizon planning on launching their 4G service, LTE, sometime in 2010, and AT&T to follow at some point thereafter, it is imperative that Clearwire continue expanding to take full advantage of a solid "head start" on their competitors.
