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The merger news comes on the heels of the failed Time Warner Cable/Comcast merger. Though the deal is technically in the formative stages, the two companies have already determined who would lead the new company: T-Mobile's offbeat CEO John Legere will remain CEO, while Dish Network's Charlie Ergen would become chairman. Dish has billions of dollars of wireless licenses, and T-Mobile has the cell network to put those licenses to use. Re/code's Ina Fried, however, says this merger is like two people who hook up because they are the last ones left in the bar at closing time.