NEW YORK (TheStreet) -- Shares of DISH Network (DISH) are higher by 5.63% to $74.80 in pre-market trading on Thursday morning, following reports the TV provider is in merger talks with wireless carrier T-Mobile (TMUS).
Both companies are in close agreement regarding what the combination would look like, sources told The Wall Street Journal.
DISH CEO Charlie Ergen will become the chairman and T-Mobile CEO John Legere would serve as CEO of the new company.
A total purchase price and the mix of cash and stock that would be used to pay for the deal are yet to be known, The Journal sources said. Adding that the talks are at "the formative stage" and cautioned that the discussions could result in no deal.
Deutsche Telekom (DTEGY) owns 66% of T-Mobile and has for some time been looking to sell or merge the company, The Journal noted.
If a deal were to be reached it would be the latest in a string of mergers between TV providers and wireless carriers. AT&T (T) is close to finishing up a $49 billion deal for DirecTV (DTV), and Charter Communications (CHTR) recently announced its intent to acquire Time Warner Cable (TWC) and Bright House Networks.
Separately, TheStreet Ratings team rates DISH NETWORK CORP as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation: