Google partners to back broadband venture

Google Inc. (GOOG.O: Quote, Profile, Research) , Goldman Sachs Group Inc. (GS.N: Quote, Profile, Research) and Hearst Corp. are investing about $100 million in Current Communications Group, a start-up that offers high-speed Internet connections over electricity lines, The Wall Street Journal reported on Thursday.

Current Communications, of Germantown, Maryland, uses a (BPL) technology that sends Internet signals over regular power lines, the newspaper said, citing people familiar with the situation. Current, a closely held company, offers its high-speed service in the Cincinnati area and is expected to use its new investment to expand

(Source: Wall Street Journal)

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