It’s official: T-Mobile and Sprint are merging, with the combined company valued at $146 billion.
T-Mobile USA chief executive officer John Legere made the announcement by tweeting a seven-minute video breaking down the merger, while also including a link to a website further explaining the combination. Deutsche Telekom owns two-thirds of T-Mobile, and will control the newly formed firm.
Legere will be CEO of the combined entity, which will keep the T-Mobile name, and have headquarters located in both Bellevue, Wash. and Overland Park, Kan.
To read more about the T-Mobile and Sprint merger, click here.
In other news:
'We can build a real business': YouTube's betting you'll be watching it on the big screen in your living room. This week the web video giant is rolling out new offerings for advertisers to deliver ads to this audience, and also helping them reach people who don't watch a lot of linear TV.
Ad buyers, for instance, will now be able to buy inventory for YouTube TV streaming service on some US cable networks. This will be through its Google Preferred program, which currently includes content from the most popular 5% of YouTube channels.
Facebook's annual developer conference is coming up - and developers have never been more unhappy. One accused the firm of waging war on developers after the Cambridge Analytica scandal.
Marketing analytics startups Radius and Leadspace are merging to beat out Salesforce. Leadspace CEO Doug Bewsher will become the chief executive of the combined company, while Radius CEO Darian Shirazi will become its executive chairman.
Music industry insiders say Google's big streaming music plans won't beat Spotify or Apple because of its basic business dilemma. Previous YouTube subscription services were uninspired and never made much impact.
WPP shares soar as the ad holding company beats forecasts, The Wall Street Journal reports. Results were better than analysts had expected, with like-for-like net sales declining 0.1% in the three months to March 31, against the -1% analysts had estimated.