Sprint may acquire Clearwire

Sprint has begun taking measures that may lead to its eventual acquisition of Clearwire. Currently, Sprint is the majority shareholder of Clearwire, however it needs to buy out shares owned by Comcast, Time Warner Cable, and Brighthouse in order to have complete control over Clearwire’s WiMax network. So far Sprint has been discussing the matter with Comcast to provide funding to Clearwire so that it can speed progress of upgrading its network to LTE. Clearwire shut down service back in February to work on upgrading its network but progress has been slow. Sprint knows that LTE will be a necessary upgrade for Clearwire to remain competitive. So far no further comment has been made by Sprint, Comcast or Clearwire, but we will keep you posted.

[via venturebeat]