Cell Phone News – Comcast Won’t Give Clearwire Any More Money

Comcast Chief Financial Officer Michael Angelakis has indicated that the company will not invest any more capital in WiMax network operator Clearwire. Comcast is one of several initial investors, and owns 9% of Clearwire. Sprint, Google, Intel and Time Warner own the remaining portion of Clearwire. Despite touting Clearwire’s 4G network as vital to its growth plans, Comcast won’t give Clearwire any more money for the time being. Sprint also recently said that it can’t afford to buy out Clearwire, which will need a new round of funding by the end of the year in order to continue operations. “Clearwire has to figure this out,” said Angelakis to investors on Wednesday.

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