Clearwire Signs Deals With Sprint, Makes Debt Payment

Clearwire Corp. signed a four-year deal with Sprint Nextel Corp. valued at as much as $1.6 billion, giving the wireless-broadband provider breathing room as it builds out a new fourth-generation network.

The agreement soothes investor fears Sprint was seeking to distance itself from its 4G provider as the carrier planned its own new high-speed network on the LTE technology favored by AT&T Inc. and Verizon Wireless. Sprint will pay $926 million for unlimited use of Clearwire’s WiMax 4G network through 2013, giving Clearwire a needed cash infusion.

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