×

Sprint, T-Mobile Merger in Doubt Over Reported Differences

Talks to merge the nation’s 3rd- and 4th-largest wireless operators have run into difficulties, according to multiple reports, with some even suggesting that the deal may not happen at all.

Japan’s Nikkei reported Monday that Sprint owner Softbank is backing out of talks to merge Sprint and T-Mobile. That account was corroborated by a Wall Street Journal report. However, CNBC followed up with a report that talks are still ongoing, but that both parties are struggling to come to an agreement over key issues.

At the center of the rift seems to be the question of who is going to control the combined entity, with both Softbank and T-Mobile’s German parent Deutsche Telekom insisting on being in the driver’s seat.

Sprint’s and T-Mobile’s stock both cratered after Nikkei’s initial report broke, and have only slightly recovered since.

Both telcos have been eyeing a potential merger for years. Talks of such a deal heated up last month, with reports indicating that the companies were close to agreeing to tentative terms.

A combined company would have more than 130 million wireless subscribers, allowing them to much more closely compete with AT&T and Verizon.

Previous reports indicated that a final announcement about the deal could come at the end of October, which could also indicate that these last-minute public quarrels may be part of final negotiations.

More Digital

  • Fubo Sports Network

    FuboTV Launches Free, Ad-Supported Streaming Sports Network

    FuboTV, one of the players duking it out in the competitive internet pay-TV arena, is dropping into the free streaming-video market with a network it wants to distribute as widely as possible — off its own platform. On Thursday, the company is soft-launching the Fubo Sports Network: a live, free-to-consumer TV network for U.S. sports [...]

  • BTS World

    BTS World Mobile Game From K-Pop Group Rockets to No. 1 Spot on App Charts Worldwide

    BTS, the biggest K-pop group in the world, now has the biggest app in the world. “BTS World,” a mobile simulation game that lets fans virtually become the South Korean pop stars’ manager, quickly rose to the top of Apple’s App Store charts in multiple countries just hours after its release on Wednesday, June 26. [...]

  • Discovery Names Andrew Georgiou Eurosport and

    Discovery Taps Andrew Georgiou as Eurosport and Sports Rights Boss

    Andrew Georgiou has been appointed president of Discovery-owned Eurosport. The sports channels and streaming service has been without a chief since Peter Hutton left for Facebook. Georgiou assumes a wider role than Hutton, running Eurosport as well as overseeing sports rights and marketing across Discovery. It has been moving aggressively into the sports sector, licensing [...]

  • Can a Studio Make Movies for

    Listen: Can a Studio Make Movies for VR?

    STX Entertainment is best known for movies like “The Upside” and “Ugly Dolls,” but it also has a division dedicated to creating virtual-reality movies like the recent action short “The Limit.” STXsurreal is working on over a dozen films in a variety of genres, according to its founders, Rick Rey (pictured, right) and Andy Vick. [...]

  • Kathryn Friedrich

    Condé Nast Entertainment Taps Ex-RYOT Studio Head Kathryn Friedrich for New Role

    Condé Nast Entertainment hired Kathryn Friedrich, a YouTube and Google alum who most recently headed Verizon’s RYOT Studio, to the newly created role of EVP, operations and general manager. Friedrich started in the new gig this week, reporting to Condé Nast Entertainment president Oren Katzeff, who joined the company last year from Tastemade. Based in [...]

More From Our Brands

Access exclusive content