WiMax Retreat Clonks Clearwire
Sprint (S) throws a few plans into reverse, hoping to undo the damaging course set by its previous chief.
In a blow to WiMax enthusiasts, the Reston, Va., telco says it has torn up an agreement with Clearwire (CLWR), taking it off the hook to jointly build a nationwide mobile broadband network. The deal called for Sprint to chip in $2.75 billion toward the expansion of 4G wireless service to 19 cities by the end of next year.
The news comes just two weeks after Sprint put its wireless service partnership with cable companies on hold. The so-called Pivot project was an attempt to add a mobile phone offering to the cable companies' triple play service bundle.
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