The carrier then launched its own prepaid brand, called Total by Verizon, in September 2022 to take on similar prepaid brands Metro by T-Mobile and AT&T's Cricket Wireless. is buying Mint Mobile, the budget wireless provider part owned by actor Ryan Reynolds, for as much as 1. The last notable prepaid brand sale was Tracfone, which Verizon acquired for $6 billion in 2021. He currently owns about one-fourth of Mint Mobile. Since I’m a Mint Mobile customer, T-Mobile will. Mint Mobile, the wireless firm that counts Reynolds as a minority owner, has been acquired by wireless giant T-Mobile in a. Simply put, wireless companies will slow down a customer’s data speeds if the network gets congested. Reynolds became part-owner of Mint Mobile in 2019 and has promoted the company through TV ads he's starred in and social media posts from his personal 21 million follower Twitter and 47 million follower Instagram accounts, as Bloomberg pointed out. Actor and producer Ryan Reynolds has cut his first billion-dollar deal. It's also unclear whether the Mint Mobile brand would continue or if it would be folded into other T-Mobile-owned brands such as Metro by T-Mobile. It wasn't immediately clear whether Ultra Mobile would be sold alongside Mint, or if T-Mobile was just interested in the latter. Ryan Reynolds bought into Mint Mobile in 2019, but now, T-Mobile is buying the direct-to-consumer carrier in a deal that could be worth up to 1.35 billion. Actor Ryan Reynolds is diversifying his portfolio with the purchase of an ownership stake in mobile wireless provider Mint Mobile. That Mint is already using T-Mobile could help make any transitions of customers a bit easier. While Mint Mobile pitches itself as a rival to larger wireless companies, it doesn't run its own 4G LTE or 5G service and instead is an MVNO that operates on T-Mobile's network. Mint Mobile declined to comment on speculation. “We think customers are really going to win with a more competitive and expansive Mint and Ultra.”Īfter the deal is closed, Mint’s founders David Glickman and Rizwan Kassim will manage the Ka’ena brands at T-Mobile, with the brands operating as a separate business unit.T-Mobile didn't immediately respond to a request for comment. “Over the long-term, we’ll benefit from applying the marketing formula Mint has become famous for across more parts of T-Mobile,” he said. Mike Sievert, CEO of T-Mobile, said in a statement on Wednesday that Mint had built an “an incredibly successful digital direct-to-consumer business.” is considering an acquisition of Mint Mobile, the budget wireless provider backed by actor Ryan Reynolds. The company announced on March 15 that it's entered into an agreement to acquire Ka'ena Corporation, its subsidiaries and its brands, including Ryan Reynolds' prepaid wireless organization Mint. Oli ScarffAFP/Getty Images T-Mobile US Inc. Reynolds is also a part owner of Welsh soccer club Wrexham FC, and cofounded and sold digital marketing agency Maximum Effort which he claims was born “accidentally.” Ryan Reynolds could cash in on Mint Mobile. In 2020, beverage giant Diageo purchased Aviator Gin-a liquor brand co-owned by the actor-for up to $610 million. Who We Are Careers Reviews Ryan Reynolds Press Refer A Friend Become A Partner. The wireless service provider announced on March 15, 2023. The deal marks the latest major deal involving a company Reynolds co-owns. Get 6 month free wireless service when you buy buy a new phone and a 6-month plan. In 2019, Ryan Reynolds bought an ownership interest in the company. will give it access the budget wireless provider Mint, along with Ultra Mobile and wholesaler Plum. “I am so proud of the entire Mint team and so excited for what’s to come.” Reynolds’ Midas touch Ryan Reynolds sells Mint Mobile to wireless giant T-Mobile. The actor Ryan Reynolds purchased an ownership stake in the company in 2019. “We are so happy T-Mobile beat out an aggressive last-minute bid from my mom Tammy Reynolds as we believe the excellence of their 5G network will provide a better strategic fit than my mom’s slightly-above-average mahjong skills,” the Deadpool star joked. T-Mobile is acquiring Mint Mobile, the budget-friendly wireless provider partially owned by Ryan Reynolds, in a deal valued at up to 1. In a statement on Wednesday, Reynolds-who will remain a spokesman for Mint-said the deal would enhance Mint’s ability to deliver for its customers.
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