New York, NY (AHN) - Sprint Nextel and Clearwire Corp are set to announce a $3.2 billion investment in a nationwide WiMax network. Investors include cable and technology giants, including Google and Intel.

Cable providers Comcast and Time Warner Cable are also investors, according to the Wall Street Journal and the Washington Post.

Sprint will own 51 percent of the joint venture, while Clearwire will control 27 percent with investors managing 22 percent. Analyst said the new company could be worth more than $12 billion.