Apple's Beats brand in April unveiled the Powerbeats Pro, a redesigned wire-free version of its popular fitness-oriented Powerbeats earbuds.
Department of Justice Approves $26B Merger of T-Mobile and Sprint
Following more than a year of regulatory scrutiny, the U.S. Department of Justice today announced that it has approved the $26 billion merger of T-Mobile and Sprint, although with several conditions attached.
T-Mobile and Sprint will join together as "New T-Mobile" to become a dominant third carrier in the United States alongside Verizon and AT&T. Together, the companies have committed to building out a nationwide 5G network covering 97 percent of the U.S. population within three years and 99 percent within six years.
T-Mobile and Sprint earlier promised that they will not raise prices for three years following the completion of the merger.
Under the terms of the proposed deal, T-Mobile and Sprint must divest a substantial package of assets to Dish Network, including Sprint's prepaid subsidiaries Boost Mobile and Virgin Mobile and some 800MHz spectrum. Dish will also gain access to at least 20,000 cell sites and hundreds of retail locations.
The deal paves the way for Dish to become the fourth nationwide facilities-based wireless carrier in the United States, ensuring a competitive landscape. Dish has announced that it plans to deploy a 5G broadband network capable of serving 70 percent of the U.S. population by June 2023.
FCC chairman Ajit Pai:
Regardless, T-Mobile and Sprint expect to receive final federal regulatory approval in the third quarter of 2019 and anticipate that the merger will be permitted to close by the end of the year.
T-Mobile and Sprint will join together as "New T-Mobile" to become a dominant third carrier in the United States alongside Verizon and AT&T. Together, the companies have committed to building out a nationwide 5G network covering 97 percent of the U.S. population within three years and 99 percent within six years.
T-Mobile and Sprint earlier promised that they will not raise prices for three years following the completion of the merger.
Under the terms of the proposed deal, T-Mobile and Sprint must divest a substantial package of assets to Dish Network, including Sprint's prepaid subsidiaries Boost Mobile and Virgin Mobile and some 800MHz spectrum. Dish will also gain access to at least 20,000 cell sites and hundreds of retail locations.
The deal paves the way for Dish to become the fourth nationwide facilities-based wireless carrier in the United States, ensuring a competitive landscape. Dish has announced that it plans to deploy a 5G broadband network capable of serving 70 percent of the U.S. population by June 2023.
FCC chairman Ajit Pai:
I am pleased that the U.S. Department of Justice has reached a settlement with T-Mobile and Sprint. The commitments made to the FCC by T-Mobile and Sprint to deploy a 5G network that would cover 99% of the American people, along with the measures outlined in the Department's consent decree, will advance U.S. leadership in 5G and protect competition.T-Mobile CEO John Legere:
The T-Mobile and Sprint merger we announced last April will create a bigger and bolder competitor than ever before -- one that will deliver the most transformative 5G network in the country, lower prices, better quality, unmatched value and thousands of jobs, while unlocking an unprecedented $43B net present value in synergies. We are pleased that our previously announced target synergies, profitability and long-term cash generation have not changed.The merger remains subject to remaining regulatory approvals and certain other customary closing conditions. Additionally, a number of states filed an antitrust lawsuit in U.S. federal court in June to block the proposed transaction; that lawsuit remains on the docket and must be resolved before the merger can go forward.
Regardless, T-Mobile and Sprint expect to receive final federal regulatory approval in the third quarter of 2019 and anticipate that the merger will be permitted to close by the end of the year.
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Top Rated Comments
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3 weeks ago
Expect higher prices for everyone, regardless of what they claimed to make this deal happen.
3 weeks ago
Yes! This will help bring some real competition against Verizon and AT&T as the merged T-Mobile will be better equipped for 5G deployment and infrastructure. Besides, if you haven’t noticed prices have been climbing across the board anyways
Sorry you missed that class in Econ 101. lol
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3 yrs from now....price goes at least 25% higher, You heard it now.
I laugh at your optimism.
[doublepost=1564161096][/doublepost]Oligopoly is not permitted in Europe, the way it is here. That's why last time I was there I stuck a SIM card in my iPhone, that I bought at the drugstore, that gave me unlimited 4G data and unlimeted calling for EIGHT UNITED STATES DOLLARS.
Anyone who thinks this merger is good for anyone except a few super wealthy people is beyond salvageable.
3 weeks ago
As long as Legere stays in charge I'm ok. If he leaves any time soon look out below...
3 weeks ago
Yes! This will help bring some real competition against Verizon and AT&T as the merged T-Mobile will be better equipped for 5G deployment and infrastructure. Besides, if you haven’t noticed prices have been climbing across the board anyways
3 weeks ago
As long as Legere stays in charge I'm ok. If he leaves any time soon look out below...
John Legere is a national treasure:
[MEDIA=youtube]4NW3AAkI9pU[/MEDIA]
[MEDIA=youtube]bKqn8_gwW3c[/MEDIA]
3 weeks ago
Is it going to be the same company, with the Unlimited plans, and the friendly deals? Or will you become a Verizon?
3 weeks ago
This seems like a win-win for everyone. There will be a new, budget carrier and T-Mo and Sprint will be able to create enough critical mass to rollout 5G. So we will still have four cellular carriers in the U.S. and three nationwide 5G networks.
3 weeks ago
3 yrs from now....price goes at least 25% higher, You heard it now.
40+% higher is my guess.
3 weeks ago
I was with ATT for over 20 years. It was generally decent coverage, and after smartphones came out, in metro areas, speed was usually great. My work offered to foot my phone bill, but I had to switch to Sprint. I dropped calls more often, couldn’t use the internet while on the phone, coverage was abysmal outside of DC, and speed was slooooow. I just switched to Verizon for the past several months, and it’s night and day better than Sprint. Maybe not quite as good as ATT on speed, but coverage is good; time will tell on my overall impression. At least it’s not Sprint. Never had T-Mobile.
Here’s hoping this merger makes Sprint/T-Mobile a decent service for folks who have it. Perhaps it will, or it may continue to suck. Either way, I just wish SOMEONE (including ATT/Verizon) would actually invest in COVERAGE OVER SPEED. LTE phones are fast enough when coverage is good. What I want more than anything is LTE speed (ok sure, 5g would be great), even if I’m driving through the mountains. Whatever company gets there first will have my undying loyalty.
Here’s hoping this merger makes Sprint/T-Mobile a decent service for folks who have it. Perhaps it will, or it may continue to suck. Either way, I just wish SOMEONE (including ATT/Verizon) would actually invest in COVERAGE OVER SPEED. LTE phones are fast enough when coverage is good. What I want more than anything is LTE speed (ok sure, 5g would be great), even if I’m driving through the mountains. Whatever company gets there first will have my undying loyalty.
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