(CNN) - The future of the U.S. wireless industry may soon be in the hands of the Obama administration.
Reports indicate Sprint and T-Mobile are close to finalizing a $32 billion merger proposal.
If approved by regulators, the deal would unite the nation's third and fourth largest carriers.
The combined company would generate estimated subscriber numbers comparable to industry leaders AT&T and Verizon.
The rumored merger has generated skepticism from some industry observers who worry about the creation of another telecom behemoth.
But both Sprint and T-Mobile have been losing money consistently.
They argue that they need to combine to take on their larger competitors.
Copyright 2014 CNN. All rights reserved.