General

Via David Gelles and Nichael J. De La Merced at The New York Times, the long rumored merger between Sprint and T-Mobile is starting to heat up:

Sprint and T-Mobile have talked about a combination for years but continued to put it off, each preoccupied with other deals, and concerned about scrutiny from antitrust regulators.

But in recent days, the two sides have settled on the terms of a $32 billion deal that is likely to be announced this summer, people briefed on the matter said on Wednesday.

Under the terms of the deal, which are still preliminary, Sprint would acquire T-Mobile for about $40 a share in cash and stock, a 17 percent premium to Wednesday’s price.

Between this, the proposed Comcast-Time Warner Cable merger and, to a lesser extent the proposed AT&T-DirecTV coupling, the DOJ and FCC have a lot of work ahead of them.