Telecom Daily
Welcome to Faulkner's Telecom Daily. We publish Monday through Friday, updating top stories as events warrant.
Monday, February 24...
T-Mobile, Sprint Amend Terms on Merger Agreement, Including
SoftBank Stake
T-Mobile and
Sprint have
amended the terms of their planned merger, which is now set to take place
"as early as April 1, 2020." In a joint press release, the former carrier rivals
revealed that their respective Boards have unanimously approved changes in terms
that will primarily affect New T-Mobile behind the scenes. The arrangement
includes Sprint parent company SoftBank
surrendering 48.8 million T-Mobile shares it would have acquired, giving it a 24
percent share-hold after the transaction, with T-Mobile's parent
Deutsche Telekom holding 43 percent.
The remaining 33 percent will be held by "public shareholders." Other terms
include T-Mobile re-issuing to SoftBank its previously surrendered shares,
pending the achievement of "certain stock price milestones by New T-Mobile"; the
extending of their "outside date" to July 1st; and the modification of "certain
other provisions." The amendment, it was noted, will have "no impact on
T-Mobile’s previously stated outlook on the New T-Mobile’s synergies, long-term
profitability and cash generation." In a statement, T-Mobile CEO John Legere
called the actions a "significant step forward toward finally closing this
transaction." The merger still, it was noted, remains subject to a few "closing
conditions."
FCC: Digital Divide "Closing" as Broadband Competition
"Increasing"
The Federal Communications Commission (FCC)
has published
select data that it claims demonstrates both a "closing" digital divide and
"increasing" broadband competition across the country, during the current
administration's reign. The Commission is specifically claiming "substantial
progress" in both areas over the two-year period from December 2016 to December
2018. Of note, the FCC asserts that those "without any options" for 250/25Mbps
and 25/3Mbps fixed terrestrial broadband service fell 74 percent (47 million)
and 30 percent (18 million), respectively. The agency also pointed to an alleged
general "increase in competition" of 52 percent for both those with one choice
for broadband (69.8 million) and "two or more options" (22 million). While the
numbers do appear impressive, some view the new statistics as the latest attempt
to inflate the perception of success that FCC Chairman Ajit Pai has had during
his tenure, which has in many ways been defined by his position that eliminating
net neutrality would help to expand rural broadband proliferation. Full
stats
are available via the FCC Web site.
Comcast Names Newest CCO
Comcast has
promoted Jennifer Khoury to the position of CCO, succeeding the retiring
D'Arcy Rudnay. Khoury, who has been with Comcast for more than 20 years, will
oversee both internal and external corporate communications functions. The
executive currently oversees the Corporate Digital Communications team, has led
Communications for Comcast Cable, and has managed strategic communications for
"numerous campaigns and product and technology launches." Khoury will report to
Chairman and CEO, Brian Roberts, and SEVP, Adam Miller. Rudnay - who was with
Comcast for 16 years before announcing her retirement - will remain on through
the end of 2020 in a "senior advisor" capacity.
....Brady Hicks, Faulkner Information Services
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