Ryan Reynolds’ wireless company to be sold in…
Ryan Reynolds’ wireless company to be sold in $1.35 billion T-Mobile deal
SANTA MONICA, CALIFORNIA – DECEMBER 06: Ryan Reynolds attends the 2022 People’s Choice Awards at Barker Hangar on December 06, 2022 in Santa Monica, California. (Photo by Amy Sussman/Getty Images )
By Peter Sblendorio | New York Daily News
PUBLISHED: March 15, 2023 at 1:33 p.m. | UPDATED: March 15, 2023 at 2:16 p.m.
Peter Sblendorio | (TNS) New York Daily News
Major money is on the way for Ryan Reynolds.
The actor’s Mint Mobile company is being acquired by T-Mobile as part of a larger deal worth up to $1.35 billion, executives announced Wednesday.
T-Mobile said it would pay 39% cash and 61% stock to buy Ka’ena Corporation, which Mint Mobile is a subsidiary of.
I only want the best for Mint Mobile customers. Think I’ve found it. pic.twitter.com/nSNmGKLmN2
— Ryan Reynolds (@VancityReynolds) March 15, 2023
Reynolds, who frequently appears in Mint ads, holds a 25% stake in the affordable wireless company, according to Bloomberg.
“Mint Mobile is the best deal in wireless and today’s news only enhances our ability to deliver for our customers,” Reynolds said in a statement Wednesday.
“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,” he added. “I am so proud of the entire Mint team and so excited for what’s to come.”
The Canadian-born Reynolds, 46, will remain in a creative role with Mint, of which he became a partial owner in 2019.
Reynolds, known for Marvel’s “Deadpool” movies and hit comedies including “Free Guy” and “Pokémon Detective Pikachu,” previously sold his Aviation Gin company for $610 million in 2020. He’s part of the ownership group behind the Wrexham Association Football Club with fellow actor Rob McElhenney.
Wednesday’s deal also includes T-Mobile acquiring the international calling service Ultra Mobile and the wholesaler Plum.
“Over the long-term, we’ll also benefit from applying the marketing formula Mint has become famous for across more parts of T-Mobile,” Mike Sievert, CEO of T-Mobile, said in a statement. “We think customers are really going to win with a more competitive and expansive Mint and Ultra.”
Reynolds, who has four kids with wife Blake Lively, also celebrated the deal in a pair of tweets Wednesday.
“I only want the best for Mint Mobile customers. Think I’ve found it,” he wrote. “I never dreamt I’d own a wireless company and I certainly never dreamt I’d sell it to T-Mobile. Life is strange and I’m incredibly proud and grateful.”
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Peter Sblendorio