Tuesday, January 23, 2018

Layer3 TV Acquired By T-Mobile

Denver-based Layer3 TV, a company which offers up an online, streaming television service, has been acquired by wireless carrier T-Mobile, T-Mobile said on Tuesday. According to T-Mobile, it will use the acquisition to launch a new, TV service in 2018. Financial terms of the buy were not announced. T-Mobile said that its new TV team will be headed by Jeff Binder, who was CEO of Layer 3 TV; he becomes an Executive Vice President at T-Mobile as a result of the buy. T-Mobile said it will begin demonstrations and purchase options at "select" T-Mobile stores in Chicago, Dallas, Denver, Los Angeles and Washington, D.C. starting in coming weeks. Layer3 TV had raised around $100M in total from such investors as TPG and CAA for its efforts.