Wow! I just heard this news on another site, and I cross-referenced it with two places before I was convinced it wasn't a hoax.
I never know how to "calculate karma" when two companies merge. Frankly, I have an extremely negative opinion of T-Mobile, and while I'm not in love with AT&T either, they actually are my current carrier. So what do you get when you combine "not great" with "thoroughly evil"?
I'm thinking maybe I will just choose between AT&T and Verizon based on which one can get me an iPhone 5 faster and cheaper (obviously this is still a few months down the road at least).