FACTBOX: Clearwire and Sprint's WiMax venture plan

NEW YORK (Reuters) - Sprint Nextel Corp and top U.S. cable companies said on Wednesday they were investing in Clearwire Corp to build a network based on WiMax, an emerging high-speed wireless technology.

Five partners, bringing a combined $3.2 billion in funding, include Comcast Corp, Time Warner Cable, Intel Corp, Google Inc and Bright House.

Following are details of the venture plan:

Venture ownership:

Sprint Nextel: 51 percent

Clearwire shareholders: 27 percent

Strategic investors: 22 percent

Leadership:

Chairman: Craig McCaw, Clearwire founder

CEO: Benjamin Wolff, current Clearwire CEO

President: Barry West, current Sprint technology chief

Board members:

John Stanton, Trilogy Equity Partners

Seven directors representing Sprint and including:

Dan Hesse, Sprint CEO

Four members representing other investors including: