Sprint to Gobble Up T-Mobile for $32B

Sprint and T-Mobile US are reportedly in agreement on a mega-merger that would have Sprint buying T-Mobile for roughly $32 billion. While the companies are still working out a formal contract, and the deal could fall through, the merger is expected to be completed this summer. The merger would combine the third- and fourth-largest wireless companies, making the combined entity better positioned to challenge market leaders AT&T and Verizon. The merger could face stiff opposition from regulators, however, and would need approval of both the FCC and the Justice Department.