T-Mobile acquires TV tech company Layer3 TV, launch new TV serviceT-Mobile (TMUS) US resident and CEO John Legere unveiled the next phase in the Un-carrier’s mobile video strategy, announcing plans to launch a disruptive new TV service in 2018.To fuel that, Legere also announced the Un-carrier has signed a definitive agreement to acquire TV technology innovator Layer3 TV, Inc. and will work with Layer3 TV’s leading technology and talent to create T-Mobile’s new TV service.People love their TV, but they hate their TV providers. And worse, they have no real choice but to simply take it – the crappy customer service, clunky technology and outrageous bills loaded with fees! That’s where we come in. We’re gonna fix the pain points and bring real choice to consumers across the country,” said John Legere, president and CEO of T-Mobile.“It only makes sense for the Un-carrier to do to TV what we’re doing to wireless: change it for good! Personally, I can’t wait to start fighting for consumers here!”T-Mobile added: “Currently, Layer3 TV delivers a product that seamlessly integrates the best of television, streaming online video content and social media and is available in five cities across the US. With Layer3 TV’s leading technology and talented team, T-Mobile plans to launch its own disruptive new TV service next year, tapping into the amazing content available from creators today to disrupt legacy cable and satellite TV’s distribution model.The Un-carrier’s new TV service will take full advantage of T-Mobile’s nationwide retail presence, top-rated brand and award-winning sales and customer care organizations.”Legere also said that services like Netflix (NFLX) are “absolutely booming.” Says TV service plans part of long-term Un-carrier strategy for video and mobile entertainment. Says legacy TV model “utterly broken,” looks like wireless from a few years ago. Legere expects the Layer3 deal to close in the next few weeks.
TMUS is up 82 cents to $64.30.
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