Comcast Unlikely to Boost Investment in Clearwire
Comcast’s Chief Financial Officer Michael Angelakis said Wednesday the cable giant is unlikely to increase its investment in Clearwire, the mobile-broadband provider.
Clearwire has long been cited by Comcast (CMCSA) as an important part of its wireless strategy. Comcast owns nine percent of Clearwire (CLWR), while Sprint Nextel (S) owns 54 percent and Intel (INTC), Google (GOOG) and Time Warner Cable (TWC) also hold stakes in the company.
But tensions have recently flared over the strategic direction of Clearwire, leading to questions about the company’s next round of financing. “Clearwire has to figure this out,” said Angelakis at an investor conference in New York.