Clearwire Raises Another $1.6 Billion, Led by Sprint Nextel

Authored by Mark Hefflinger on November 10, 2009 - 9:21am.

Kirkland, Wash. - Giving it more ammunition to roll out its high-speed wireless (WiMax) network in more cities across the U.S., Kirkland, Wash.-based Clearwire said on Tuesday that it has raised another $1.6 billion, including a $1.2 billion investment from partner Sprint Nextel (NYSE: S).

Time Warner Cable (NYSE: TWC), Intel (NASD: INTC), Eagle River Holdings and Bright House Networks also participated.

Noticeably absent from the list is Google (NASD: GOOG), which played a major role in the company's $3.2 billion funding last year.

Sprint Nextel owns a majority stake in Clearwire, and has rolled out the company's high-speed service, branded as Sprint 4G, in several of its markets.

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