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Dish Will Close on Boost on July 1

Dish logo - NWIDABloomberg is reporting (link below) that Dish will close on Boost by July 1, Dish reported this in a regulatory filing, without providing terms.

Dish is expected to pay about $1.4 billion for Boost. The acquisition, which includes seven years of access to T-Mobile’s network, was coordinated by DoJ antitrust chief Makan Delrahim in order to help create a fourth national wireless carrier.

T-Mobile CFO Braxton Carter signed the agreement on behalf of T-Mobile and Sprint. He also announced Wednesday that he will retire on July 1 after 19 years with the company. Peter Osvaldik, the company’s chief accounting officer, will replace him.

In addition T-Mobile is taking a $200 million noncash impairment charge for Sprint’s billing system. And the company has changed its TV strategy and will write down $218 million of goodwill connected to Layer3, a streaming TV service purchased in 2018, according to another filing Wednesday.

T-Mobile also added between 800,000 and 900,000 wireless subscribers in the second quarter, due to strong sales to businesses. The company had previously forecast a range of zero to 150,000 new subscribers. Coronavirus-related costs, meanwhile, will be as much as $450 million, with merger costs ranging between $800 million and $900 million.

Read the entire article here

 

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