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Illustration: Aïda Amer/Axios

A federal judge allowed the merger of T-Mobile and Sprint to move forward in a Tuesday decision, ruling against a coalition of state attorneys general who fought against the deal.

Why it matters: The deal, announced back in April 2018, reduces the number of national carriers from four to three, but creates a much larger rival to AT&T and Verizon, and was seen as vital for Sprint, which has continued to lose market share during the deal's long approval process.

Details:

  • Shares of Sprint surged after reports of the deal, while T-Mobile's stock rose more modestly.
  • Under a settlement with the Justice Department, T-Mobile will sell off a number of prepaid assets and provide other services to Dish Network to allow it to become a national cell phone provider.
  • The companies also promised regulators they will deliver a 5G network to 97% of the U.S. within three years.

The states' lawsuit was by far the largest remaining hurdle to the T-Mobile/Sprint deal, although California's Public Utilities Commission has yet to approve the deal. The states could also appeal the ruling.

What they're saying: Company executives and federal regulators that already cleared the deal cheered the news, while deal opponents lamented the ruling, reiterating their view that the merger will result in higher prices for consumers and could kill jobs.

The big picture: The deal comes at a precarious time for antitrust regulation, with a wide push for greater scrutiny for tech companies, new theories of antitrust in the digital age, and new proposals to reorganize federal antitrust authority.

Our thought bubble: The judge's ruling might pave the way for Sprint and T-Mobile to merge while not weighing too heavily on the future of antitrust regulation. This deal was a classic horizontal merger of two companies in the same market, while many of the biggest questions now center around how much power tech companies should be allowed to amass through vertical integration.

Read the ruling.

Go deeper

Updated 2 hours ago - Politics & Policy

Prosecutors charge parents of Michigan school shooting suspect

Photo: Scott Olson/Getty Images

The parents of a 15-year-old accused of killing four students and wounding seven other people at a Michigan high school have been charged with four counts of involuntary manslaughter, according to court documents.

The latest: Lawyers for James and Jennifer Crumbley told the Detroit News they are "returning to the area to be arraigned," after law enforcement officials announced a search for the Crumbleys had been initiated.

Updated 6 hours ago - Politics & Policy

Omicron dashboard

Illustration: Shoshana Gordon/Axios

  1. Health: Coronavirus variant surveillance varies widely by state — Omicron cases confirmed in 5 U.S. states America probably won't lead the effort to understand Omicron.
  2. Vaccines: Omicron adds urgency to vaccinating world — Omicron fuels the case for COVID boosters — Moderna loses patent battles tied to COVID vaccine.
  3. Politics: Nevada to impose insurance surcharge on unvaccinated state workers — New Jersey GOP lawmakers defy statehouse COVID policy — Oklahoma sues Biden administration over Pentagon vaccine mandate — Omicron travel bans are sign of what's to come.
  4. World: WHO: Delta health measures help fight Omicron — COVID cases surge in South Africa in sign Omicron wave is coming — Germany approves new restrictions for unvaccinated people.
  5. Variant tracker: Where different strains are spreading.
7 hours ago - World

Putin to demand legal guarantee against NATO expansion in call with Biden

Biden and Putin meeting in Geneva in June. Photo: Mikhail Metzel\TASS via Getty Images

Russian President Vladimir Putin is demanding a legally binding guarantee that NATO will not expand east — including to Ukraine — and plans to raise the issue in an upcoming phone call with President Biden, according to the Kremlin.

Why it matters: Russia has massed more than 94,000 troops on the border with Ukraine and could be preparing for a large-scale invasion at the end of January, Ukraine's defense minister said Friday.