Sprint was a storied American brand, but it is no longer. T-Mobile, which closed its $30 billion merger with the wireless carrier in April, officially retired the Sprint brand Monday.
“I want to acknowledge the Sprint history and its 120-year legacy that is now part of our legacy as we launch into this new era,” said T-Mobile CEO Mike Sievert in a statement, adding, “We did it! Another historic day for new T-Mobile!”
The long-awaited merger means the end of Sprint’s long corporate history, but it also puts a capstone on several bruising decades of failed bets and teetering on the brink of bankruptcy.
Things aren’t looking good for the big merger between Sprint and T-Mobile.
The Department of Justice antitrust enforcement has informed Sprint and T-Mobile that the merger is “unlikely” to receive approval, according to the Wall Street Journal.
Speaking to sources familiar with the merger, the report states that the $26 billion deal is concerns from the Justice Department’s antitrust division over threats the merger poses to competition. Sprint and T-Mobile are the third and fourth biggest mobile carriers in the country.
Further complicating matters, several U.S. states are considering taking legal action against the two companies if the DOJ decides not to challenge the merger.