Update at 4:07 a.m. PDT on Wednesday, May 7: This article has been updated to reflect the official announcement.
Sprint Nextel and Clearwire will create a new joint venture that will combine both companies' WiMax assets to create a nationwide broadband wireless network, the companies said Wednesday.
The deal, which will be valued at about $14.5 billion, is being backed by cable operators Comcast and Time Warner, as well as Intel and Google.
News of the deal was earlier reporter in The Wall Street Journal.
The new joint venture has raised a total of $3.2 billion … Read more