Clearwire connects for entertainment network

May 07, 2008 Movies and games on cell phones will get a boost through the creation of a new WiMax network to be built by a communications company born Wednesday by combining the broadband businesses of Sprint Nextel and Clearwire. Clearwire still needs to raise about $2.3 billion to build out its wireless, high-speed Internet network, so the venture is considering bringing aboard more investors. Wall Street seemed intrigued by the deal Wednesday, with Bernstein Research analyst Craig Moffett calling cable competitors DirecTV and Dish Network the "odd men out."

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