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T-Mobile teases $15 5G plan and other post-merger initiatives
When, and if, it launches its 5G network on December 6th, T-Mobile will offer a new $15 per month prepaid 5G plan to customers. The plan will include a 2GB per month data allowance, in addition to unlimited talk and text. At $15, the plan is half the price of T-Mobile's current cheapest plan. For $25 per month, customers can upgrade to a plan with 5GB of monthly data. Additionally, T-Mobile says it will add 500MB of data to both plans every year for up to five years.
FCC formally approves the T-Mobile-Sprint merger
Today, the Federal Communications Commission (FCC) formally approved the T-Mobile-Sprint merger. The decision comes after a drawn-out, and at times contentious, review of T-Mobile's $26.5 billion bid to merge with Sprint.
The FCC voted to approve the T-Mobile-Sprint merger
Today, the FCC formally approved the contested T-Mobile and Sprint merger, The Verge reports. But commissioners are still speaking out. Commissioners Jessica Rosenworcel and Geoffrey Starks released statements explaining their decisions to vote against the transaction.
T-Mobile’s Sprint merger is opposed by 18 state attorneys general
Pennsylvania Attorney General Josh Shapiro is the latest state attorney general to oppose T-Mobile's Sprint merger. Today, Shapiro announced that he'll join a lawsuit to block the "megamerger" of the telecom giants, making him the 18th attorney general to challenge the deal.
FCC approves Nexstar’s $6.4 billion acquisition of Tribune Media
The long, drawn out saga over Tribune Media Company's fate could soon come to an end. Today, the Federal Communications Commission (FCC) approved the sale of Tribune to Nexstar Media Group. The $6.4 billion deal will create the nation's largest local TV broadcaster and local media company, Nexstar said previously.
FCC chairman Ajit Pai endorses T-Mobile / Sprint merger
The proposed merger of Sprint and T-Mobile is inching ever closer to being complete, after the Department of Justice gave its conditional endorsement last month. Now, Federal Communications Commission chairman Ajit Pai is formally recommending that the agency's commissioners approve the deal. Pai said that after the FCC reviewed the details of the merger, "the evidence conclusively demonstrates that this transaction will bring fast 5G wireless service to many more Americans and help close the digital divide in rural areas."
CBS and Viacom agree to sign $30 billion merger deal
CBS and Viacom have reached a long-rumored merger agreement. The two companies announced today that they will reunite as ViacomCBS. According to The Wall Street Journal, CBS and Viacom hope that, together, they'll be better positioned to fight against cable TV competition and streaming services.
Justice Department has approved T-Mobile / Sprint merger
Sprint and T-Mobile have cleared a significant hurdle towards completing their merger. The Department of Justice rubber-stamped the deal on the condition that the carriers sell some parts of the business to Dish Network.
DOJ could approve T-Mobile and Sprint merger tomorrow
T-Mobile and Sprint are still grappling with state lawsuits attempting to block their merger, but they can at least take some consolation from the federal government. CNBC sources claim that the Department of Justice is expected to approve the merger on July 25th (that's tomorrow, if you're reading in time). The union is contingent on T-Mobile selling assets to Dish, though. Reportedly, Dish will buy T-Mobile's prepaid phone business for $1.4 billion, and spend another to snap up $3.6 billion in wireless spectrum. You can likely say goodbye to a T-Mobile-owned Metro, then.
Bloomberg: Dish is close to a $6 billion deal with Sprint and T-Mobile
Over the last couple of weeks, we've heard that getting DoJ approval for T-Mobile's proposed $26 billion purchase of Sprint will require making moves to create a new national wireless carrier as a competitor. That could be achieved by selling off Boost Mobile and enough spectrum to make a service viable, however they needed to find a buyer. Now Bloomberg reports that Dish Network is in talks and could announce this week that it will be the company to do it, rather than possibles like Altice and Charter (Amazon wasn't mentioned). The price? Apparently about $6 billion. The pair promised the FCC they would sell Boost Mobile, and if talks don't fall through, then their hope is that this would help get approval and overcome a lawsuit filed by several state AGs. For its part, Dish has long harbored wireless ambitions, and acted to make them come true. It was even proposed as a buyer for divested T-Mobile assets during merger talks with AT&T back in 2011. We'll see if it happens this time or if things fall apart on the 1-yard line all over again.
NYT: Sprint, T-Mobile merger could get federal approval next week
Just days after AGs representing ten states filed suit to stop the combining of Sprint and T-Mobile, the New York Times reports the Justice Department is "moving closer" to approval. Doing so apparently hinges on an arrangement, previously reported, that would have the two sell off assets to create a new national wireless competitor. The Times specifically mentions Dish Network, Charter and Altice as companies that have apparently been approached about buying Boost Mobile, as Bloomberg reported earlier this week. If the companies sell off Boost Mobile and enough spectrum to make a valid fourth option, then that may help them defend against the state AGs charges that a merger would hurt competition. The trick, however, is first finding someone to bite on the offer, and with even Amazon's name coming up as an option, we'll need to see who's interested before things move any further.
Ten states sue to block T-Mobile merger with Sprint
The proposed merger between T-Mobile and Sprint just ran into a major roadblock. Ten states, including California and New York, have sued to stop the merger on the grounds that it would hurt competition and raise prices for cellphone service. They argue that this would not only reduce the number of choices, but punish lower-income communities where even a slight rate hike could cause trouble. They're also concerned that there would be a "substantial loss" of retail jobs in the wireless space, not to mention lower wages for those who remain.
Amazon is reportedly interested in buying Boost Mobile
If helping to create a competitor is a necessary condition to get the Sprint/T-Mobile deal done, then perhaps Amazon can help. A report from Reuters suggests the retailer is interested in buying Boost Mobile from the combo, particularly because it would come with the ability to use T-Mobile's network for six years. The unnamed sources also claimed the company could be interested in spectrum the newly-merged pair would have to divest. Amazon has tried to get into the mobile business before -- remember the Fire Phone? -- and it wouldn't be a huge surprise to see it add wireless to the suite of services it offers. Yesterday's report pointed to the possibility of a cable company trying to rise up as the fourth major mobile operator, but if Amazon can pass regulatory scrutiny, maybe Prime will cover one more thing pretty soon.
Bloomberg: T-Mobile's merger could require creating a competitor
While FCC commissioner Ajit Pai is ready to recommend approval of a merger between T-Mobile and Sprint, the Department of Justice has been reportedly unconvinced. Now Bloomberg reports that one thing the two could do to convince unnamed "top" officials is to "lay the groundwork" for a new national wireless carrier. In previous years the Justice Department has balked at seeing the national wireless market from below the four major options, so it's a surprise to see this is as a condition, but it may not be one they're willing to meet. The report's source claim Justice Department antitrust chief Makan Delrahim specifically is unconvinced by the claim that the two combining would make for a stronger third player against AT&T and Verizon. These concerns helped scuttle AT&T's attempt to take over T-Mobile in 2011, and a previous merger attempt by these two in 2014. Finally, an analyst interviewed suggests that a fourth option could come from a cable company combining spectrum it owns with a virtual network deal -- similar to Comcast's Verizon-powered mobile service. It's unclear whether or not any of this will happen, but if it doesn't, then we could be looking at yet another failed attempt once the deadline passes on July 29th.
T-Mobile and Sprint make promises to clinch FCC's merger approval
T-Mobile and Sprint are still determined to secure a merger, and they've just made a fresh round of promises to win regulators' hearts. The carriers have made new commitments to the FCC that would guarantee wider access to high-speed mobile internet and home broadband, not to mention address concerns about a lack of competition. They've vowed to deploy 5G service that covers 97 percent of the US population within three years of an approved merger, and 99 percent in six years. About 90 percent of Americans would have mobile internet at speeds of "at least" 100Mbps, while 99 percent would have speeds of 50Mbps or more.
T-Mobile and Sprint push merger deadline to July 29th
T-Mobile and Sprint have pushed back the deadline to complete their $26 billion merger, reports Reuters. The companies will now have until July 29th to earn the approval of the US Justice Department and the Federal Communications Commission.
T-Mobile and Sprint merger is 'unlikely' without major changes
So much for T-Mobile and Sprint enjoying a smooth merger. Wall Street Journal sources say the Department of Justice has told the carriers that their $26 billion union is "unlikely" to receive approval under its current structure. While the particular objections aren't available, DOJ offcials reportedly questioned claims that the merger would create "important efficiencies."
Instant Pot's creator is merging with the company behind Pyrex
Instant Pot cookers already have a loyal following, and now they're about have some extra clout, too. Corelle Brands, the company behind kitchen brands like CorningWare and Pyrex, has unveiled plans to merge with Instant Pot's creators Instant Brands. The two hope to create a "world-class" housewares company that covers food prep head-to-toe, whether it's the actual cooking or storing leftovers. Instant's CEO, Robert Wang, also touted that this would help foster its "expanding product development pipeline."
Appeals court upholds AT&T's purchase of Time Warner
AT&T doesn't have to worry that its acquisition of Time Warner might be undone. A federal appeals court has upheld the merger in the face of a Justice Department challenge from July. The explanation behind the decision isn't available as of this writing, but the judge who approved the deal didn't apply conditions. The DOJ was concerned AT&T might raise prices and reduce competition in pay TV by charging providers more for Time Warner (now WarnerMedia) programming.
Democrats want to take another look at the T-Mobile-Sprint merger
T-Mobile's planned purchase of Sprint is facing new and intense scrutiny from the Democrat-controlled House of Representatives. The executives of the two companies will sit before two congressional hearings this week -- House Committee on Energy and Commerce took up the topic on Wednesday and the House Committee on the Judiciary will question the company heads on Thursday.
