Sprint (NYSE: S) has come to Clearwire's (Nasdaq: CLWR) rescue with a new wholesale pricing agreement that will provide the beleaguered 4G wireless player with $1 billion over 2011 and 2012.
"Sprint has been our biggest and most important customer and partner since we launched 4G services in the U.S. more than two years ago ... (and this) agreement further aligns Sprint and Clearwire's interests and lays the foundation for a continued, constructive relationship," Clearwire Interim CEO John Stanton said in t a news release.
Clearwire needed money from somewhere. Its three cable partners--Comcast (Nasdaq: CMCSA), Time Warner Cable (NYSE: TWC) and Bright House Networks--while giving lukewarm vocal support to the wireless company have all said they would not add any future financial contributions.
For more:
- see this news release
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