Clearwire raises an additional $1.5B to continue building its nationwide WiMAX network


Sprint, Comcast, Time Warner Cable, and Bright House Networks (to name a few) continue to bet big on Clearwire’s WiMAX nationwide wireless network. The foursome have just pumped an additional $1.494 billion into Clearwire’s coffer, with another $50 million coming from Intel and $20 million from Eagle River Holdings. CHA-CHING.

More specifically, Sprint, which owns 51 percent of Clearwire, invested $1.176 billion, Comcast Corp. put in $196 million, Time Warner Cable Inc. dropped another $103 million, and Bright House Networks contributed a cool $19 million.

According to Christopher King, an analyst at Stifel Nicolaus, the new influx increased Clearwire’s cash stockpile to a whopping $1.8 billion and will help to mitigate the “funding gap” for its nationwide WiMAX network build-out to $3 billion. The new funds will purportedly allow Clearwire to hold off on raising more dough until at least the end of 2011.

[via Y! News]