T-Mobile and Sprint Agree to Merge and Unite Under T-Mobile Brand and Leadership
T-Mobile and Sprint today announced plans to merge in an all-stock deal that will create a "New T-Mobile" worth $146 billion. The new company's combined radio spectrum assets will allow it to accelerate deployment of 5G technology. The new T-Mobile plans to spend "up to $40 billion" on its new combined network in the first three years, 46% more than T-Mobile and Sprint spent combined in the past three years. The new company will assume both the T-Mobile brand and most of the T-Mobile leadership. John Legere, current President and CEO of T-Mobile US, will serve as CEO of the new company, and Mike Sievert, current COO of T-Mobile, will serve as President and COO. Tim HÃ¶ttges, current T-Mobile Chairman of the Board, will serve as Chairman of the Board for the new company. Current Sprint CEO Marcelo Claure will serve on the board. Following closing, the company will be headquartered in Bellevue, Wash., with a "second headquarters" in Overland Park, Kan. The combined company will have lower costs and greater economies of scale, expected to result in run rate cost synergies of $6+ billion. The transaction is expected to close no later than the first half of 2019, subject to customary closing conditions, including regulatory approvals
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Samsung today officially unveiled its Galaxy S21 series of flagship phones for 2021. All three models sport a distinctive new "Contour Cut Camera" design where the metal frame extends around one corner to surround the rear cameras.
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US carriers have launched a flurry of new entry-level phones from LG and Samsung in recent weeks. The phones include three new models from each of the two manufacturers.
What about the Prepaid divisions?