CLWR Ride Gets Wilder

6:00 PM -- Hold on tight!

As expected, the Clearwire LLC (Nasdaq: CLWR) rumor ride is getting wilder the closer we get to to its earnings call on May 12. The WSJ has once more kicked some life into that hoary old WiMax joint venture rumor. The old grey gasbag is now reporting that Clearwire LLC (Nasdaq: CLWR) and Sprint Corp. (NYSE: S) have raised $3.2 billion to fund a new WiMax venture. (See Clearwire's Rumor Ride.)

It is basically a retake on the rumored deal that was due to be announced at the CTIA show in April. The cable cos, Intel Capital , and Google (Nasdaq: GOOG) are all said to be stumping up cash this time. Unstrung heard that the April accord fell apart because of politicking among the different interests involved. (See Clearwire Q4 Drops, WiMax News Doesn't.)

— Dan Jones, Site Editor, Unstrung

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