WSJ: Cable ops may be interested in WiMAX

The Wall Street Journal reports that both Comcast and Time Warner Cable may be in talks with Sprint and Clearwire over forming a new company to run a network based on the technology.

The cable providers will provide funding for the venture, which will be operated by Sprint and Clearwire. It isn't known what the companies are looking for, but WiMAX could possibly give the carriers a mobile footprint.

Cable providers will be able to purchase wholesale access to the network, and would receive a stake in the eventual company.

About $1.5 billion of the $3 billion necessary to start up the service will be provided through the cable operators, the WSJ says. Additionally, another cable operator, Bright House Networks, could contribute up to $200 million in funds.

Sprint is obviously active in its search for funding for this venture. Investors have scoffed at the high price tag for WiMAX, especially considering Sprint's troubles: not only is it bleeding customers as of late, but also money.

Intel could possibly be a source for more funding, contributing as much as $1 billion, and Google has also been named as a possible benefactor. With all that funding in line, Sprint will actually be very close to the $3 billion goal.

CEO Dan Hesse has reportedly asked all involved to complete talks before next week, when the wireless industry meets in Las Vegas for the CTIA conference.