Communications Sales & Leasing, Inc. (CS&L) today announced that they have entered into an agreement with Windstream Holdings, Inc. to acquire 32 wireless towers owned by Windstream and operating rights for 49 wireless towers previously conveyed to the company in its spin-off from Windstream in April of last year.
With a portfolio of 81 towers after closing, CS&L will rank as the 56th largest tower owner in the U.S., according to Wireless Estimator’s Top 100 Tower Companies in the U.S.
Multiple wireless carriers currently leasing access to these towers will become customers of CS&L. The company will also receive rights to construct and operate wireless towers on approximately 1,000 properties currently leased exclusively to Windstream by CS&L. The transaction cost is approximately $3 million.
This acquisition is consistent with CS&L’s strategy of owning and constructing mission critical communications infrastructure, the company said in a statement, and advances its goal of expanding its relationships with the largest wireless carriers. Additionally, the 1,000 properties represent growth potential for future wireless tower construction.
In January, CS&L acquired fiber provider PEG Bandwidth for $409 million, giving the company a fiber network consisting of over 300,000 strand miles in the Northeast / Mid Atlantic and South Central regions of the United States, as well as Ill.