After a unanimous vote, the Federal Communications Commission announced that it approved the transactions between SoftBank Corp, Sprint Nextel Corp., and Clearwire Corp. today.

This announcement confirms and finalizes all federal government reviews necessary for Sprint Nextel's acquisition of Clearwire Corp, All companies are expected to finalize the transactions early this month. Further conditions must be satisfied to ultimately close the deal.

The buyout came after the approval of shareholders of Sprint Nextel last June 25. The shareholders of Clearwire was scheduled to vote last July 8^th with recommendation from the board of directors.

Chief executive officer of Sprint Nextel Dan Hesse reacted on the buyout, "We would like to thank Acting Chairwoman Clyburn, Commissioners Rosenworcel and Pai, as well as the staff of the FCC for their thorough review of these transactions."

In response, President and chief executive officer of Clearwire Erik Prusch said, "We appreciate the forward thinking, consumer focused stance the FCC has taken by approving the proposed transaction. As the company that built America's first nationwide 4G network, Clearwire looks forward to joining Sprint and deploying an even faster and richer 4G experience for consumers across the country."