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December 2, 2011 12:20 am GMT
Clearwire's WiMax network. Without it, Clearwire would have had to choose between paying up on a $237 million interest payment or continuing to build out its LTE network — a necessity in terms of competition for both Clearwire and Sprint. The deal consists of Sprint paying $926 million for unlimited 4G WiMax services between 2012 and 2013. In the meantime, Sprint is also pledging an advance of $350 million paid over a two-year period for Access to Clearwire's forthcoming LTE capacity. This will allow Clearwire to pay off its debt without derailing plans for its LTE network. That said, Sprint needs LTE just as desperately, so it only makes sense that Sprint would cover for its struggling partner.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/yvqs5HCfL-4/
Sprint Inks Deal To Support Clearwire With $1.6 Billion
Clearwire's WiMax network. Without it, Clearwire would have had to choose between paying up on a $237 million interest payment or continuing to build out its LTE network — a necessity in terms of competition for both Clearwire and Sprint. The deal consists of Sprint paying $926 million for unlimited 4G WiMax services between 2012 and 2013. In the meantime, Sprint is also pledging an advance of $350 million paid over a two-year period for Access to Clearwire's forthcoming LTE capacity. This will allow Clearwire to pay off its debt without derailing plans for its LTE network. That said, Sprint needs LTE just as desperately, so it only makes sense that Sprint would cover for its struggling partner. Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/yvqs5HCfL-4/
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