Dish officially enters wireless business, buying Boost from T-Mobile

Dish Network is now in the wireless business, having closed its $1.4 billion purchase of Boost Mobile and other prepaid assets from T-Mobile.

Why it matters: The deal was a condition for regulatory approval of T-Mobile's Sprint purchase and is part of an effort to create a fourth national wireless carrier.

How it works: Dish will operate Boost, but utilize T-Mobile's network while it builds its own 5G network.

• Boost is reviving an option where customers' bills go down over time if they pay them on time. A new "$hrink-It!" plan starts at $45 per month for 15 gigabytes of data, but goes down by $5 per month after three on-time payments and by an additional $5 after six on-time payments. (Boost offered a similar plan until 2014.)
• A separate option will offer 10GB of data and unlimited text and talk for $35 per month.

Go deeper: Dish Chairman Charlie Ergen says history will vindicate him on 5G