Everybody- I'm back!
You know what these videos mean.
It means I have big news to share.
Actually, this time we have big news to share.
That's right.
John and I are here together to share some incredibly important news
for consumers and businesses across the country.
Today, we're announcing that T-Mobile and Sprint have reached a definitive agreement to come together
and form a new stronger company.
A company that will supercharge the uncarrier strategy
and create robust competition and lower prices across wireless video and broadband.
A company that will create thousands of new American jobs
and the only company with the capacity to quickly create a broad and deep nationwide 5G network.
So Marcelo and I wanted to talk to you about what this all means.
That's right John.
This is very important because 5G is coming
and what happens in the first few years of a new technology is crucial.
Look at 4G. The US led early with broad deployment.
And I gave a generation of American innovators and entrepreneurs the opportunity to build services at scale.
Analysts estimate that America's early 4G leadership are in millions of jobs in this country and billions in US GDP.
And in 5G, the stakes are even higher
Just to put this in perspective, the difference between 4G or 5G
is the difference between black and white TV and color TV.
Global tech leadership for the next decade is at stake.
And only The New T-Mobile will have the network and spectrum capacity
to quickly create abroad and deep 5G network in the first few years of the 5G innovation cycle,
the years that will determine if American firms lead or follow in the 5G digital economy.
Listen, only T-Mobile and Sprint can do this together.
We can't do this separately. And neither can Verizon or AT&T nor any of the other new players.
In fact, for Verizon and AT&T to build a truly nationwide 5G,
they either have to kick customers off LTE - which would take years
or build on their millimeter wave spectrum which, get this,
would cost roughly 1.5 trillion dollars to cover the US nationwide.
No one company has the breadth and depth of clear spectrum truly required to do this quickly except New T-Mobile.
With Sprint's incredible 2.5 GHz spectrum, T-Mobile's nationwide 600 MHz and our other combined assets,
together, we will build the highest capacity mobile network in US history.
With 30X more capacity than T-Mobile today and speeds that are up to a 100X faster.
This is the kind of network needed to fuel the next wave of mobile internet innovation in the United States.
And unleash the next generation of mobile internet super stars in the US
just like we saw happen when 4G took off years ago!
It is critically important that America and American companies lead in the 5G era.
This will result in huge economic stimulus for the United States.
And 5g will mean the combined company can create robust competition in wireless and beyond.
Because in reality, this industry is no longer just 4 wireless companies.
Industry lines are blurring and wireless, video and broadband they're all converging.
AT&T is now the #1 TV provider in this country.
Comcast entered wireless last year
and added more postpaid phone customers than AT&T and Verizon combined!
Charter is launching Spectrum Wireless this year.
And more than 1 in 10 American already uses wireless as their only internet access.
They have no home broadband at all.
It's not the Big 4 anymore, it's the Big 7 or 8.
That's right, and when it comes to 5G, it's not even a Big 7 or 8
it's about zero to one, and creating the one company that can build a 5G network America needs in the early formative years of 5G.
We plan to compete aggressively in this converged marketplace.
Because this combined company will have the scale and resources to bring real competition
and unmatched value across the United States
and drive down prices - especially in rural America, for businesses and government customers, and in broadband.
Did you know that the latest FCC figures from 2016 show that 51% of Americans have only one option for their broadband provider?
With nationwide 5G, we can end that and bring real competition and lower prices everywhere.
And nowhere is that more important than rural America.
In many of these communities, they already have very limited wireless choices
usually between Dumb and Dumber or a myriad of other regional and MVNO players.
We will change all that. We'll build hundreds of stores and hire thousands of people to compete in rural America.
And that's going to create more choice in competition for millions of Americans in rural communities.
And when it comes to business wireless, Verizon and AT&T have 4X the number of business and government customers than we do together.
That's a lot of businesses and governments paying too much for too little in wireless, and together,
with Sprint's Enterprise capabilities and the new companies combined resources,
we can create a real alternative and give business and government customers real competition.
And, the new company plans to hire more people to help us compete here, too.
Yep and that is another reason this deal makes so much sense.
Jobs!
Let me be clear here: The New T-Mobile will create thousands of jobs.
From Day 1 and every year thereafter, we will employ more people than Sprint and T-Mobile do separately.
This deal is a net creator of jobs. Period!
Don't take my word for it. We have a track record here.
Five years ago, almost to this day, we merged with MetroPCS.
Back then, people said it was bad for jobs,
but fast forward to today, and 3X the number of people work on MetroPCS.
That is our track record on job creation.
And on top of that, the combined company will invest approximately 40 billion dollars in business
over the next three years.
That is going to spare a huge wave of investment and economic stimulus,
leading to the creation of thousands of new jobs.
Plus, we'll put more pressure on all of our competitors
to invest more across wireless, video and broadband
to try to keep up and do better for consumers.
So, this deal will create thousands and new jobs in the short term
and drive the broader economy across the country in the longer term.
This is an exciting day.
I can't wait to bring the ultra-talented Sprint and T-Mobile teams together.
If there's one thing I've learned about the Sprint team in the last five years, it's that they don't stop either.
They keep fighting and pushing. And I have a lot of respect for that.
And can you imagine what kind of competitive force these two teams be together?
Verizon and AT&T and Comcast and the others better watch out!
Because we are coming.
And We Won't Stop!