BELLEVUE, WASH. & DENVER—T-Mobile has completed its acquisition of Denver-based Layer3 TV, an important part of the company’s plan to launch a new pay TV service to challenge cable and satellite TV providers, the wireless carrier announced today.
In December 2017, T-Mobile revealed its intention to buy Layer3 TV as a major step in bringing to market its new television service. “We know people love their TV, but hate their TV providers. But, the reaction to our announcement last month took even me by surprise. People are ready for choice and change,” said T-Mobile President and CEO John Legere in a press release announcing the deal closing.
The wireless carrier said the time is right for it “to disrupt the entertainment space” with the introduction of 5G and the convergence of wireless, wireline and cable technologies and capabilities. The new T-Mobile TV service will work over landline, mobile Internet connections, regardless of the carrier, including AT&T and Verizon, it said.
Jeff Binder, CEO of Layer3 TV at the time of the acquisition, has joined T-Mobile as EVP and a member of the company’s senior leadership team. He will lead the new T-Mobile TV services. Nearly 200 former Layer3 TV employees have stayed on to work on T-Mobile’s new TV service.
Among the members of Layer3 TV executive leadership team joining T-Mobile are:
· Lindsay Gardner, former president of distribution at Fox;
· Dave Fellows, former CTO of Comcast and AT&T Broadband;
· Amos Smith, former SVP and CFO of Time Warner Cable Residential Services; and
· Gregg Grigaitis, former SVP products of Suddenlink.
Terms of the deal were not disclosed; however, T-Mobile said the acquisition is not expected to impact previously announced company guidance or expectations.
More information is available on the T-Mobile website.
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