Sprint Nextel and Clearwire are reviving their WiMax effort with an unusual array of partners from the tech and media industries. Comcast, Google, Intel, Time Warner, and others are investing billions of dollars in a new company that plans to build a nationwide high-speed wireless network using the still unproved WiMax technology standard.

The first concrete benefit to come out of the Wednesday deal is Google's plan to expand its relationship with Sprint to bring Google's mobile search, maps, and YouTube to Sprint handsets. Google said the new features will begin to be available this summer.

The new partners have pledged $3.2 billion to resuscitate the Sprint-Clearwire partnership. Google pledged $500 million, while Comcast offered $1.05 billion, Intel offered $1 billion, and $550 million is coming from Time Warner.

Sprint had an on-again, off-again partnership with Clearwire, but the early venture was dissolved last November after the companies couldn't raise the necessary funding to deploy the wide area technology.

"Sprint had the spectrum, but it didn't have the money," said Adlane Fellah, senior analyst at broadband wireless researcher Maravedis, in an interview Wednesday. "This is great news -- in the short term. Now they must deliver soon at the right price points."

Sprint has been racked in recent months by subscriber losses, a falling stock price, and management upheaval. According to recent media reports, Sprint is considering spinning off its poorly performing Nextel unit. Ironically, Clearwire's top executive, Craig McCaw, was a founder of Nextel, which has rapidly been losing subscribers and acts as an albatross around Sprint's neck.

Although the new WiMax company will be called Clearwire, it will be 51% owned by Sprint. Existing Clearwire stockholders will own about 27% of the new company, while the new investors will own about 22%.

"This is an opportunity to unlock and bring visibility to the value of our significant spectrum assets, technology, and expertise," Sprint president and CEO Dan Hesse said in a statement. "We've made an excellent start developing XOHM WiMax services."

Sprint has been testing its XOHM service in Chicago and the Washington/Baltimore area in anticipation of rolling out the service on a nationwide basis.