T-Mobile and Sprint to Merge
T-Mobile Chief Executive John Legere will head the merger and the company, which will be named T-Mobile. In a video announcement posted on Twitter, Legere said the new company will "create robust competition and lower prices across wireless, video and broadband" and lead the way to 5G technology.
Sprint has a lot of debt and has posted a string of annual losses. The company has cut costs and made itself more attractive to customers, BTIG Research analyst Walter Piecyk said, but it hasn't invested enough in its network and doesn't have enough airwave rights for quality service in rural areas.
I'm not normally in the camp that believes a merger of this magnitude is good for the regular consumer — but this might actually be good. Better to have three functional telecoms than four uncompetitive companies vying for the top spot amongst consumers. Sometimes it's good to shake things up a bit.