Sprint's T-Mobile Deal Called Off, CEO Replaced As Turnaround Efforts Pick Up

A Sprint-T-Mobile merger would have created an entity as big as Verizon or AT&T (based on number of subscribers) and was being seen as an important move for Sprint to turn around its declining fortunes. Now that the deal is off, Sprint will have to come up with a plan B to compete against strong competitors in a largely saturated market. Shareholders echoed these concerns as the company's stock dropped about 20% on Wednesday, likely reflective of the sentiment that a turnaround was going to be d...