The company formed by the merger keeps the Clearwire name. It aims to create a network that uses WiMax, a new wireless technology that promises faster data speeds than most current cellular broadband networks. The plans to make the new technology available to 120 million to 140 million people.
The remainder of the company will be owned by investors including Comcast Corp., Intel Corp., Time Warner Cable Inc., Google Inc. and Bright House Networks. They have put in a total of $3.2 billion in cash.