Clearwire gets $1.6B in funding through Sprint deal

Broadband wireless provider Clearwire (Nasdaq: CLWR) said it struck a deal with Sprint which will give it access to $1.6 billion in funding and help it establish usage-based pricing for its WiMAX services.

Clearwire sells access to its network to Comcast (Nasdaq: CMCSA) and Time Warner Cable (NYSE: TWC) for their broadband wireless services. The agreement with Sprint will allow it to make $237 million in debt payments that are due today.

Sprint said the agreement will allow it to have access to Clearwire's network through at least 2015.

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- FierceWireless has this story

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