Sprint is reportedly in talks to acquire T-Mobile, its smaller rival in the wireless carrier industry. The big idea is to generate more scale by combining the no. 3 and no. 4 players. Sprint has 50 million subscribers and T-Mobile has 34 million. Combined, that's 84 million, almost as big as rivals AT&T and Verizon, which are above 90 million.Update 3/21:
AT&T has just swooped in and scooped up T-Mobile for $39 billion.