AT&T Weighing Sale of Its Cell Towers
AT&T is more seriously considering a sale of its wireless towers, reports Bloomberg. AT&T said earlier this year that it might sell its towers. AT&T could net about $5 billion from such a sale, and possible bidders include Crown Castle International, SBA Communications, and American Tower, according to Bloomberg's unidentified source. AT&T owns and operates about 10,000 towers throughout the country, which generate approximately $326 million in annual revenue thanks to other companies that lease space on the towers. The tower sale could shore up AT&T's cash position as it is making a $14 billion investment in its network. AT&T declined to comment on Bloomberg's report.
T-Mobile Sells 600 Towers to Phoenix Tower
T-Mobile has finalized the sale of some 600 cell towers to Phoenix Tower International. The deal, first announced in August, transferred ownership and management rights to Phoenix Tower.
AT&T and Verizon Will Work Together On Future Cell Towers
AT&T and Verizon have tapped Tillman Infrastructure to build hundreds of small cell towers around the country. Tillman already builds, owns, and operates a series of towers and small cells.
Sprint to Sell Certain Network Assets for $2.2 Billion
Sprint has agreed to sell select network assets to a company called Network LeaseCo and then lease back those assets for an unspecified sum. The move is meant to boost Sprint's cash position and will eventually add $2.2 billion to the company's coffers.
Court: FCC Allowed to Manage Tower Siting Process
An appeals court sided with the FCC recently in a decision that upholds the agency's authority to accelerate the process of gaining local approval for cell towers. The U.S.
Essential Cans Plans for New Phone, Puts Itself Up for Sale
Essential Products is for sale, reports Bloomberg, and has cancelled plans to develop a new phone. The company has hired a financial firm in order to help advise it on a potential sale, according to Bloomberg's sources, who also say Essential has already received interest from one possible buyer.