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Comcast, Time Warner eye wireless plan

NEW YORK - Comcast Corp. and Time Warner Cable Inc. are discussing a plan to fund a new wireless Internet venture that would be run by Sprint Nextel Corp. and Clearwire Corp., The Wall Street Journal reported late Tuesday.

The partnership would create a nationwide network using WiMax technology, which promises faster wireless Web connection speeds for laptops and cell phones than mobile operators' third-generation networks.

Under the plan, Philadelphia-based Comcast, the nation's largest cable operator, would put up as much as $1 billion, while No. 2 Time Warner Cable would add $500 million, the Journal reported, citing unnamed people familiar with the matter. Another cable operator, Bright House Networks, would contribute $100 million to $200 million, the Journal said.

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