Sprint and Clearwire Announce Key Enhancements to Their Long-Term Wholesale Revenue Agreements, Minimum Cash Commitment of $1B (S, CLWR)

Sprint Nextel S and Clearwire CLWR today announced an amendment to their long-term agreement that establishes new wholesale pricing terms and provides Clearwire a minimum of $1 billion from Sprint to be paid during 2011 and 2012 for 4G wholesale services comprised of minimum usage commitments of $300 million in 2011, $550 million in 2012 and $175 million in pre-payments for 4G wholesale services to be used in 2011, 2012 and beyond. The parties expect the agreement to continue to drive the growth and collaboration of both companies' strategic 4G initiatives.