03-27-2008, 08:18 PM
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News: Comcast & Time Warner to help fund Xohm
Quote:
The Wall Street Journal breaks the news this morning that both Comcast and Time Warner Cable are in talks to fund Sprint's Xohm deployment. Combined with a recent cash influx from Google, Intel and Best Buy, Xohm's future fortunes suddenly got a whole lot brighter. Comcast would contribute a billion dollars, with Time Warner Cable and Brighthouse also contributing. In turn, we assume those companies would provide rebranded WiMax service to their broadband customers (though they're not keen to bundle wireless). Talks should be wrapped up quickly:
Sprint CEO Dan Hesse is pressing all parties to wrap up discussions in time for the wireless industry's trade show next week in Las Vegas, so Sprint can have something to present to investors. In addition to the $3 billion Sprint and Clearwire are trying to raise now to start rolling out WiMax, they will likely need more to complete a nationwide network. Sprint previously had told Wall Street the venture would cost $5 billion by 2010.
Sprint's partnership with the cable industry to provide wireless phone service (brand named "Pivot") hasn't worked particularly well. As we mentioned earlier in the week, Cox appears to be pursuing their own wireless broadband strategy. Once the financing is settled, analysts believe that Sprint will likely announce that Xohm, with Clearwire's help, is being spun off a la Embarq.
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SOURCE: Comcast, Time Warner To Fund Xohm - Sprint's project to get additional cash infusion... - dslreports.com
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