T-Mobile to launch a new television service in 2018, acquire Layer3 TV

NEW YORK (Reuters) – U.S. No. 3 wireless carrier T-Mobile US Inc will launch a new television service in 2018 and acquire television technology company Layer3 TV Inc for an undisclosed amount as part of its plans, it said on Wednesday.

FILE PHOTO: A T-Mobile logo is advertised on a building sign in Los Angeles, California, U.S., May 11, 2017. REUTERS/Mike Blake/File Photo

The announcement follows T-Mobile’s announcement last week that its board approved its first-ever buyback program, a month after the company and rival Sprint Corp ended deal talks.

Chief Financial Officer Braxton Carter said at the time that the company was focused on smaller, “tuck-in” acquisitions, noting that such deals would be another use of cash.

Layer3 TV integrates television, online video content and social media and is available in five cities across the United States, T-Mobile said.

T-Mobile shares were up 1.3 percent at $64.30 in Wednesday morning trading.

Reporting by Anjali Athavaley; Editing by Meredith Mazzilli and Susan Thomas

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