Intel is taking a $950 million asset impairment charge from its investment in Kirkland, WA-based Clearwire, because of the declining value of Clearwire’s stock, according to this report in GigaOm. Clearwire, the brainchild of wireless pioneer Craig McCaw, is building a national WiMAX network to improve broadband wireless connections. Clearwire (NASDAQ: [[ticker:CLWR]]) stock closed yesterday at $4.98.
Author: Luke Timmerman
Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.
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