Business

November 10, 2009 9:43 AM

Amid layoffs, Sprint commits $1.176 billion to Clearwire venture

A day after announcing up to 2,500 layoffs, Sprint Nextel has agreed to pump $1.176 billion into Clearwire Corp., the public company that is building out the fourth-generation WiMax wireless network Sprint is counting on to boost its own business.

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