Federal regulators are giving Sprint Nextel Corp. the green light to spin off and merge its new WiMax wireless broadband network with that of Clearwire Corp.

In a 5-0 vote Tuesday, the Federal Communications Commission approved a plan to combine Sprint’s Xohm network with Clearwire’s WiMax-like network. Google Inc., Intel Corp. and a group of cable companies are investing billions into the $14.6 billion venture, which will carry Clearwire’s name.

The Justice Department has already indicated that it will allow the deal to proceed, but will continue to monitor it.

Via AP News