AT&T Strikes $4.85B Cell Tower Deal with Crown Castle
AT&T today announced that it has agreed to lease 9,100 of its cell towers to Crown Castle for $4.85 billion. Under the terms of the agreement, AT&T will also sell 600 cell towers to Crown Castle outright. Crown Castle will have exclusive rights to operate and maintain the cell towers, with most towers leased for a period of 28 years. After the leases expire, Crown Castle will have the option to purchase them for an additional $4.2 billion. AT&T will sublease the towers for at least 10 years beginning at $1,900 per month. Rent increases will be capped at 2% per year. AT&T may also reserve additional capacity on the towers for potential future use. AT&T called the deal a good move for the company, as it brings in a significant chunk of cash while leaving room for AT&T to add capacity to its network over time.
Verizon Exploring Tower Sale
Verizon Wireless is weighing whether or not to sell its cell towers to a third party, reports Reuters. Earlier this month Verizon's Chief Financial Officer Fran Shammo indicated the company is interested in such an idea.
Verizon to Sell Landline Biz to Frontier for $10 Billion
Verizon Communications today confirmed plans to sell part of its wireline telephone and internet business to Frontier Communications for $10 billion. The deal covers Verizon's consumer and business assets in California, Florida, and Texas.
U.S. Cellular to Sell 595 Cell Towers for $159 Million
U.S. Cellular today said it has agreed to sell 595 of its cell towers to Vertical Bridge Holdings for $159 million.
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.
Sprint to Relocate Cell Sites In Bid to Cut Costs
Sprint hopes moving its radio infrastructure away from privately held companies to government-owned land and/or structures will help shave $1 billion in costs, reports Re/code. Sprint leases cell tower access from Crown Castle and American Tower, and lease rates are a significant part of it operational costs.
What where's all the hating trolls?
AT&T' sale is a very small portion of towers, but I...