Clearwire and Sprint/Nextel have agreed to combine their wireless broadband units. The decision will create a $14.5 billion communications company. The new company, which will retain the Clearwire name, will concentrate on rolling out a mobile network based on the new and emerging WiMax standard. WiMax promises faster download speeds than the current standards offered by cell phone carriers. WiMax is seen as a potential competitor even fixed-line broadband.

Some big names have invested billions of dollars on the deal. Google, Comcast, Time Warner, Intel, to name a few are betting on the emerging WiMax standard. These companies will get a 22% stake in the new venture with Sprint/Nextel as the majority owner with 51% of the equity of the company.