AT&T Inc. (T) said it entered a definitive agreement with Deutsche Telekom AG (DTE) to acquire T- Mobile USA in a cash-and-stock transaction currently valued at approximately $39 billion.
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If completed, the deal would allow AT&T, now the second- largest U.S. wireless operator, to add 34 million customers and surpass Verizon Wireless as the largest in the country. The acquisition may face regulatory scrutiny because it combines the second- and fourth-largest wireless providers.

T-Mobile—after having suffered under AT&T, Verizon (including back when it was called Bell Atlantic) and Cingular, was the best of the terrible wireless providers in the United States. Of course, it would be bought out, and shut down by one of the worst providers I've had to deal with.

And, so far as that 'regulatory scrutiny', I'd like to remind you that AT&T has consistently been one of the country's biggest spenders on lobbying in Washington DC—to bought-out Democrats at Republicans alike. Still, I'd suggest you take the time to complain to your representative and senators.

This move effectively consolidates the US wireless market into two providers—AT&T and Verizon (with Sprint now definitively too small to compete). This also eliminates an entire form of competition from the US wireless market; T-mobile was the only provider to offer contract-free pricing discounts.

And, finally, this is most likely bad news for the Eastside economy. T-Mobile USA is (er... was) a major employer in Factoria. How many of those jobs will be heading over to the dusty paradise of Dallas Texas remains to be known.