Clearwire: three years after $3.2 billion deal, wireless broadband company with regional footprint may miss debt payment

In late November 2008, Clearwire announced it had closed a $3.2 billion deal to build out cable infrastructure to compete against phone-based video and Internet providers like Verizon. The investors in the Washington state-based wireless Internet provider included Time Warner Cable, Intel, Google, Brighthouse Networks, wireless spectrum from now majority-stake owner Sprint Nextel and $1.05 billion from Comcast.

It was a big deal.

Three years later, Clearwire will likely skip Wednesday a $237 million debt payment, as the Wall Street Journal reported.

There’s local impact to the national story, as the more than 200 hires made in the region continue to fizzle and complications around the company’s infrastructure will persist. From Clearwire’s major local marketing blitz of 2009, many in regional leadership have moved on.

The news started breaking back in March with the company’s CEO stepping down and its stock plummeting after the news that it might delay on its debt. Investors are putting a lot into this news and the reviews are mixed, but at least some are predicting real trouble.

Comcast Roundup: Olympic channel controversy, Justice Dept. on telecom abuse and More

Every Thursday morning, find all the stories you need to know about your friendly telecommunications giant in the Comcast Roundup.

The United States Olympic Committee and Comcast announced yesterday they would partner to launch in 2010 The U.S. Olympic Network, broadcasting the trials and training and everything else that goes into the international event.

Comcast’s corporate blog takes on the rosy dream of giving you superhuman mega athletes and their schmaltzy stories 24/7/365. Of course, the N.Y. Times and the Debbie Downers that they are focus more on the fact that, well, the International Olympic Committee has made clear they have not given name or TV rights for the project.

The Times reports that this is just the latest development in the tense relationship between the U.S.O.C. and the I.O.C.

Richard Carrion, an I.O.C. executive board member, told the Times that they were concerned about the viability of the network and its affect on longtime U.S. broadcaster NBC.

“We’ve given the rights to NBC to be the Olympic network,” he said. “I don’t think something else called the Olympic network will fly.”

After the jump, Verizon crashes Steel Town, what Pirate Bay wants to sell Comcast and five other stories for the faithful.

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