Clearwire and Sprint have announced that they have completed the transaction to combine their next-generation wireless Internet businesses. Sprint contributed all of its 2.5 GHz spectrum and its WiMAX-related assets, including its XOHM business, to Clearwire. In addition, Clearwire has received a $3.2 billion cash investment from several companies which include: Comcast, Intel, Time Warner Cable, Google and Bright House Networks. The transaction with Sprint and the new cash investment were completed on the terms originally announced on May 7, 2008. The new company will keep the name Clearwire and will remain in Kirkland, Washington where it is head quartered.

On Monday, December 1, 2008, at 10 a.m. Eastern Time (7 a.m. Pacific Time), Clearwire will hold a conference call on Monday, December 1, 2008 for press and industry analysts to share info and other details about the new company.

See More: Sprint and Clearwire Merger