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Clearwire, the wireless data company started by Seattle-area cell-phone billionaire Craig McCaw, will be recontsituted as a new company valued at $12 billion backed by primarily by Sprint, but also by cable providers Time Warner, Comcast and Bright House, chipmaker Intel and Web search behemoth Google. McCaw will continue as chairman of the board at Clearwire and Ben Wolff as CEO. Sprint CEO Dan Hesse agreed to give control to the pair as part of the deal, to ease concerns that Sprint's core wireless business would conflict as the new company's services began to compete for voice and data customers. Sprint has encountered numerous problems with deploying Intel-developed WiMax, and there's still the issue of whether the company will sell Nextel after a $35 billion acquisition in 2005 went south.