Breaking: Sprint and Clearwire Land Major WiMax Deal, Create New Company

Clearwire Corporation and Sprint Nextel Corporation today announced that they have entered into a definitive agreement to combine their next-generation wireless broadband businesses to form a new wireless communications company:

“The new company, which will be named Clearwire, will be focused on expediting the deployment of the first nationwide mobile WiMAX network to provide a true mobile broadband experience for consumers, small businesses, medium and large enterprises, public safety organizations and educational institutions,” the company said in a statement this morning. “The new Clearwire expects to dramatically enhance the speed and manner in which customers access all that the Internet has to offer at home, in the office and on the road.”

The release also said that a group of tech firms, including Google, Intel, Comcast, and more, will invest a total of $3.2 billion in the new company. Next step for Sprint: Fix all the customer service issues.