Sprint, still intent of delivering WiMax mobile broadband, is teaming up with Clearwire for a $14.55 billion business venture.
The new company will retain Clearwire's name, but will focus on delivering a WiMax network. Both companies have been chasing WiMax independently.
Other companies are investing in the new venture including Time Warner, Comcast*, Intel, Google, and Bright House Networks.
They hope to roll out a WiMax network by 2010.
(*Disclosure: G4 is owned by Comcast)