Sprint seeks majority control of Clearwire

Published October 18, 2012 10:14pm ET



NEW YORK (AP) — Flush with the promise of cash from a Japanese investor, Sprint Nextel Corp. on Thursday said that it wants to buy out the founder of Clearwire Corp. to gain majority control of the wireless network operator.

Sprint said in a regulatory filing that it will pay wireless pioneer Craig McCaw and his holding company $100 million for a stake in Clearwire, pushing Sprint’s voting stake in the Bellevue, Wash., company from 48.15 percent to 50.45 percent.

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