Sprint Nextel has been preaching the merits of WiMAX for years, often noting that the wireless broadband technology will soon be a national reality. For just as long, however, Sprint's ambitious WiMAX plans have failed to pan out, stymied by criticism and business difficulties.

That could all change after today, with the wireless carrier joining forces again with former partner Clearwire in a massive, $14.5 billion joint venture to create a national WiMAX carrier.

A handful of other giants in the ISP and Internet space have also signed on as backers. Those investors, who include Intel, Google, Comcast, Time Warner Cable and Bright House Networks, will pump approximately $3.2 billion into the new company.

The deal is expected to close during fourth quarter.

Once complete, the new WiMAX carrier will be known simply as Clearwire. The venture's backers said the Clearwire WiMAX network could provide service for up to 140 million people in the U.S. by 2010.

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