T-Mobile (NASDAQ:TMUS) has completed its acquisition of Layer3 TV, first announced in December. The acquisition is intended to support the mobile operator's plans to launch a standalone over-the-top (OTT) TV service this year based on Layer3's technology and content relationships.
"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! Well, good news 'cause that's exactly what we're gonna bring!" said John Legere, president and CEO of T-Mobile. "I can't wait to take the fight to Big Cable and Satellite TV on behalf of consumers everywhere!"
T-Mobile's new TV team will be led by Jeff Binder, CEO of Layer3 TV, who has joined T-Mobile as an executive vice president and part of the senior leadership team. Binder is joined by nearly 200 Layer3 TV employees including his executive leadership team: 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.
While T-Mobile develops its new TV service, the existing Layer3 TV product will be available to demo or purchase in certain T-Mobile stores in Chicago, Dallas, Denver, Los Angeles and Washington, DC, starting in the coming weeks.