According to a recent report from The Wall Street Journal, it has been revealed that satellite broadcaster Dish Network (DISH) is in talks to merge with telecommunications provider T-Mobile US (TMUS). The publication notes that while the proposed merger is only in its formative stages as issues such as purchase price or the structure of an eventual combination of the two companies remains unresolved, there is “close agreement” about a leadership team, “with Dish Chief Executive Charlie Ergen becoming the company’s chairman and his T-Mobile counterpart, John Legere, serving as the combined company’s CEO.”
T-Mobile, currently in fourth place behind Verizon (VZ), AT&T (T) and Sprint Corp. (S) in total wireless subscribers, has a current market cap of $32.66 billion, while Dish has a market capitalization of $35 billion.
The deal talks come amid a dramatic period of consolidation in the telecom industry. One of T-Mobile’s larger rivals, AT&T, is seeking a $49 billion merger with Dish’s biggest rival, DirecTV (DTV).
Shares of Dish climbed 6% to $75.05 in early Thursday morning, while T-Mobile rose 4.62% to $40.10.