Green Light for New Clearwire

Posted by Sam Churchill on

Clearwire shareholders decided Thursday it would be a good thing to collect $3.2 billion from Google, Intel, Comcast, Time Warner and team up with Sprint to build a new national high-speed wireless network, says the Kansas City Star.

“Today, our shareholders have taken a transformative step toward enabling an entirely new mobile Internet experience for consumers and businesses across the country,” Benjamin Wolff, chief executive officer of Clearwire, said in a statement. “With an unmatched spectrum portfolio, a next generation all IP network, an ever-expanding ecosystem of mobile 4G devices, and the backing of some of the most innovative communications, entertainment and technology companies in the world, Clearwire is ready to redefine mobile Internet services in the U.S.”

With the affirmative stockholder vote, the consent of its lenders in hand, review of the transaction under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 by the U.S. Department of Justice complete and approval from the Federal Communications Commission, no further consents or approvals for the transactions are required. The company is continuing to work toward closing the transaction before year-end.

An Illinois circuit court removed — for the time being — one of the last obstacles to the creation of the “new” Clearwire Monday, telling Sprint affiliate iPCS that it must pull its motion for a temporary restraining order on the deal,

The $14.6 billion venture, to be called New Clearwire, promises faster speeds than the latest cellular networks. Sprint currently offers the service in Baltimore under the Xohm brand and expects to roll out in Washington DC and Chicago soon. Clearwire is expected to roll out Mobile WiMAX in Portland, Oregon, early next year.

Clearwire is expecting to cover 100 million U.S. citizens by the end of 2010, and reach 200 million potential users by 2015.

Related WiMax stories on Dailywireless include; Clearwire: Show Us the Money, Xohm Marks the Spot, Chicago Xohmed Next?, WiMAX Doomed? Not., Mobile WiMAX: Fast, Cheap and Out of Control?, Mobile Data: Replacing Landline Broadband?, AT&T: No “Special Rights” for Clearwire, WiMAX Roundup, Cisco & Fujitsu Beamform Live Video, Motorola: People Get Ready, Barry West Talks, Intel + India’s BSNL = 100m WiMaxers, XOHM to Launch with Location Services, Denver Gets Fixed WiMAX, Clearwire: Retrofits Come First, Moscow WiMAXed, WiMAX Gets Cheaper – Theoretically, Clearwire: Anytime Now, WiMAX Roundup, Mobile WiMAX: Live in Idaho Falls, WiMAX: September in Baltimore, WiMAX Forum Certifies 2.5GHz Gear: Good to Go, Clearwire: We’re Gonna Be Big, Sprint: We’re the “3rd Pipe”, WiMax: East Meets West, Sprint: Samsung WiMAX Ready to Go, Battle of the (Muni) Bands, WiMAX: Cheap, Fast and Out of Control, It’s Official: Sprint, Cable & Google Building WiMAX Network, Mobile WiMAX Cooking- But Still in the Kitchen, WiMAX Roundup, Australia Unwired, Australian Blowup, BT’s European WiMAX Plan, Backhaul Delays Xohm Rollout, Hesse on WiMAX, Sprint’s WiMAX Rollout?, Sprint-Clearwire Deal Dead, Sprint Considering WiMAX Spinoff?, Sprint Forces Forsee Out, WiMAX Demoed on Chicago River, The Launch, ICO Wants Its Mobile TV – via DVB-SH, Google Apps for Clearwire, Sprint WiMAX: It’s Called “Xohm”, Xohm “Partners”?, Death to WiMAX?, Verizon: It’s LTE, and Sprint: It’s WiMAX!.

Posted by Sam Churchill on Thursday, November 20th, 2008 at 12:26 pm .

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