Sprint Looking for Funding for WiMAX

By BetaNews Staff, BetaNews

June 14, 2007, 11:38 AM

With shareholder concern mounting over the cost of building out its fourth generation WiMAX network, Sprint is reportedly looking for other options to fund the project, the Wall Street Journal reported on Thursday. One option would be a joint venture with high speed provider Clearwire, while the other would be to look for funding from its cable company partners.

The cost of construction would set the wireless provider back some $3 billion next year, however some of its largest investors have called the strategy questionable. Both options reduce the final cost, and may help to quell those fears. For example, under the Clearwire plan, the unit would be spun off. If Sprint's cable partners join in, they could benefit by being able to offer broadband services from the network.