Wednesday, March 26, 2008

Rescue WiMax

WSJ reports that Comcast, Time Warner Cable, and Bright House Networks are contemplating close to investing $1.6 billion in a new company that would be operated by Sprint-Nextel and Clearwire. This is in addition to $1 billion that Intel is rumored to put into the new company, along with hundreds of millions of dollars coming from Google. The new company is aiming to raise about $3 billion. Here is how the total rumored funding for the new company breaks down:

Comcast: $1 Billion
Time Warner Cable: $500 Million
Bright House Networks: $100-$200 Million.
Intel Corp.: $1 Billion
Google: Undisclosed Millions.