Sprint and Clearwire Finalize Merger

Today Sprint announced that it has completed the merger of its Xohm Wimax unit with Clearwire Corporation. Sprint contributed all of its 2.5 GHz spectrum and its WiMAX-related assets. Comcast, Intel, Time Warner Cable, Google and Bright House Networks all combined to contribute $3.2 billion in cash to help the company get started. Clearwire plans to provide Wimax-based high-speed wireless Internet services.