Recovery Act: TowerStream eyes new markets - Telecom News Analysis

WiMax operator TowerStream Corp. (Nasdaq: TWER) has applied for up to $120 million in broadband stimulus funds from the Recovery Act and plans to use the money to provide wireless broadband to underserved businesses in nine existing markets and eight new cities in the U.S.

The Middletown, R.I.-based operator has been vocal about the importance of the broadband stimulus funds since they were unveiled with company CEO Jeff Thompson repeatedly blogging on the matter...