Deals
T-Mobile to Buy Layer3 TV in Preparation for Video Service
- Layer3 provides high-end online TV to Chicago, Washington
- Wireless providers seek revenue outside phone subscriptions
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T-Mobile US Inc. agreed to acquire closely held Layer3 TV Inc. as the wireless carrier prepares to enter the crowded field of online television service next year.
With the purchase, T-Mobile joins its larger peers AT&T Inc. and Verizon Communications Inc. in a strategic shift to media and video ventures as the wireless industry struggles to find new growth. AT&T started an online TV service called DirecTV Now a year ago that recently exceeded 1 million subscribers. Verizon secured expanded rights this week from the National Football League to stream live games to mobile devices.