Comcast, others close to WiMAX deal

Comcast Corp., Time Warner Cable Inc. and others are very close to a deal with Sprint Nextel Corp. and Clearwire Corp. to form a joint venture to market high-speed Internet or video on mobile devices, sources close to the deal say. An announcement could come today. Comcast reportedly is investing $1.05 billion in the WiMAX wireless joint venture, which is valued at $12 billion, and will sell the service as a premium product for customers seeking fast online connections outside their homes or in cars.

Other investors, including Google Inc., are putting an additional $2.2 billion into the new venture - for a total financial investment of $3.2 billion. Sprint and Clearwire will contribute wireless spectrum that will create a national footprint for the wireless product, sources say, and the WiMAX technology for the venture. WiMAX is considered a fourth-generation wireless technology with Internet speeds similar to a cable modem. ...