Sprint is preparing to pump at least $1 billion more into Clearwire, according to the Wall Street Journal, with its partners Comcast, Intel and Time Warner Cable putting up another $500 million. Google, which has been a key joint venture partner, isn’t involved in the latest financing round, according to the paper. The new investment could come as soon as this week.

The report adds that Clearwire in recent months has been attempting to attract new capital from other telecom companies such as Deutsche Telekom, but these efforts have failed. Both Clearwire and Sprint are in a race against Verizon and AT&T, explains Om Malik, with cellular Long Term Evolution (LTE) technology due to arrive next year.

Clearwire currently has about 500,000 subscribers. Broadband Reports has Clearwire user forums on service in Chicago, Portland and Atlanta.

Posted by Sam Churchill on Monday, November 9th, 2009 at 6:16 am.