Top Sprint story from Forbes: T-Mobile Closes $26 Billion Sprint Deal, Budget Conscious Consumers Beware

From Forbes:

You may need to start paying close attention to your wireless bill as T-Mobile announced the closing of its $26 billion Sprint acquisition. These combined companies could raise fees for pre-paid and other low-cost mobile phone plans, now that they have control of more than 127 million customers. With the U.S. wireless market dominated by three national players instead of four, will this leave Black and low income consumers behind in the wireless carrier race?

The Breakdown You Need To Know: Low cost mobile phone plans are the exact types of plans Sprint and T-Mobile had previously been driving down, according to CultureBanx. The median household income for African Americans was just over $39,000 in 2016, putting Black people directly in T-Mobile’s sweet spot among customers who make less than $75,000 per year. Sprint’s pre-paid brand Boost counts 83% of its users in that income range, according to data from Kagan, S&P Global Market Intelligence data. To obtain regulatory approval, T-Mobile and Sprint agreed to sell off certain assets, including Sprint’s prepaid wireless business, to the satellite TV service Dish.

Letitia James, the New York attorney general who was a key plaintiff in the case to stope this merger, had argued that the deal would cost subscribers at least $4.5 billion annually, according to the New York Times.

Merging The Lines: You know the drill when it comes to mergers: everything is good and always will be, right up until it’s no longer good. For starters current T-Mobile CEO John Legere is stepping down and former T-Mobile COO Mike Seivert will now lead the new company. Not to mention T-Mobile is counting on the competition being so overpriced that it can keep Sprint customers, even though they’re getting less and paying more than before. The merged company has committed to not raising prices for three years, albeit that was before the coronavirus pandemic took over.

Continue reading T-Mobile Closes $26 Billion Sprint Deal, Budget Conscious Consumers Beware on Forbes

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