LEGERE DIVES IN STREAM

T-Mobile’s TV buy

The future of television is online — and T-Mobile is trying to get in on the action.

In a move to take on the cable industry as well as its wireless rivals, T-Mobile acquired Layer3 TV, an internet-based TV service, the nation’s No. 3 wireless carrier said Wednesday.

Terms of the deal were not disclosed — and TMobile also did not release pricing, what networks may be offered in a pay-TV package or when the service would start.

The transaction will allow T-Mobile to jump into the streaming-TV space, currently occupied by rivals such as AT&T-owned DirecTV and Verizon’s go90.

“Consumers are fed up,” TMobile Chief Executive Officer John Legere (inset) told analysts on a conference call. “Big cable has held them hostage with contracts that locked them in, confusing sky-high bills and insane hidden fees, bundles people don’t want or need, and the worst customer service on the planet, maybe all planets.”

The quirky CEO ushered in a new era of growth for the company, which is dubbed the “uncarrier” because it offers contract-free pricing structure.

T-Mobile’s move into the streaming world comes as customers, especially younger ones, lap up videostreaming services like Netflix, Hulu, YouTube and Sling TV.

At the same time, pay-TV consumers are voting for change by cutting the cord or opting for skinny bundles.

Most streaming pay-TV packages offer a narrower assortment of channels.

“While execution against a rising tide of competition is key, the Layer3 TV deal seems to be a low-cost move to get [their] foot in the evolving videodistribution game,” said Barclays analyst Amir Rozwadowski, who added T-Mobile’s streaming service “is likely to take time to scale.”

In announcing the deal, TMobile showed mock-ups of smartphone screens with its logo and those of A&E, HGTV, CNN, the Food Network and NBA basketball, but the company did not say whether any of those products will be included in its upcoming service from Denver-based Layer3.

Layer3 currently sells an online-TV subscription with hundreds of channels that starts at $75 a month.

T-Mobile shares inched up 35 cents on Wednesday, to $63.83.