Tillman FiberCo, LLC and private investment firm Northleaf Capital Partners today announced a strategic partnership where Northleaf is funding Tillman FiberCo with an initial investment of $200 million, with the potential to invest up to $300 million more as Tillman FiberCo scales its operations. The new company will build and operate its own open access facilities-based fiber network to deliver …
MasTec stock tumbles on CAPEX shaves, but fundamentals remain positive
MasTec, Inc. reported mixed results for Q2 on Friday, with earnings beating the Zacks Consensus Estimate, but revenues of $2.87 billion missed their target mark of $3.01 billion by 3.1%. Nonetheless, it jumped 25% from $2.3 billion a year ago. However, the stock has taken a beating in the past three sessions, closing today at $92.70 from its closing on …
Electrifying love and other heartbreaks are resolved after tower climbs in India
Although unauthorized tower climber incidents are more frequent in India, the U.S. has its share of climbing events, such as a man who scaled a 320-foot guyed tower late last month in Thornton, CO, after he exited a stolen car after a police chase and thought he could disappear in the clouds. However, over the years, communications towers are often …
U.S. Cellular stock almost doubles after announcement it is being readied for the auction block
The boards of directors of Telephone and Data Systems, Inc. and United States Cellular Corporation have decided to initiate a process to explore strategic alternatives for U.S. Cellular. The comprehensive process will explore a range of strategic options. “The TDS board believes that now is the right time for a comprehensive review of strategic alternatives for U.C. Cellular. We will …
DigitalBridge says it will continue to profit from providing the picks and shovels for Gen AI that is edge delivered
DigitalBridge stock gained 1.2% in Friday trading after the company turned in much stronger than expected Q2 revenue and said it remains on track for its $8.0B fundraising target. During the Q2 analysts call, CEO Marc Ganzi’s message of “promises made, promises kept” appeared to resonate with shareholders as DBRG in pre-market this morning was up 4.23% at $16.73. Ganzi said the company …
DigitalBridge is betting a quarter billion dollars on its competitors becoming more profitable
On Monday, during its second-quarter earnings call, SBA Communications cited a slowdown in U.S. carrier activity, similar to previous announcements by American Tower Corp. and Crown Castle, whose Q2 activity had declined a whopping 50%. DigitalBridge Group, whose tower arm Vertical Bridge has 11,000 owned and master-leased towers, will release its quarterly report on Friday and takes no comfort in …
Lawsuit relies upon Wall Street Journal reporting about toxic lead-sheathed cable buried underground
UPDATE – August 2, 2023 – On Tuesday, Verizon investors filed a similar lawsuit in Pennsylvania federal court to AT&T’s securities fraud lawsuit, stating the carrier lied about the health and safety risks associated with its network of lead-sheathed cables, leading to a decline in Verizon stock after The Wall Street Journal’s articles exposed the toxic cables that are still in …
750 field services workers to be terminated by Ericsson; unprofitable contracts cited
On Thursday afternoon, Ericsson’s U.S. field services employees were informed via a live webcast that the company will be shuttering its self-performing installations group by September 29, 2023, since the current market demand will no longer allow the company to justify the cost of maintaining crews. A Friday memo from the company’s People Operations Team made it official. Approximately 750 …
One size PPE can’t fit all, says OSHA chief Douglas Parker, requesting to hear from all sizes of stakeholders
The U.S. Department of Labor announced a notice of proposed rulemaking to clarify the personal protective equipment standard for the construction industry. The current standard does not state clearly that PPE must fit each affected employee properly, which the Occupational Safety and Health Administration’s general industry and maritime standards do. The proposed change would clarify that PPE must fit each …
Crown Castle consolidates offices and axes 750 employees, many of them providing construction management
Crown Castle Inc. initiated a restructuring plan this week as part of the company’s efforts to reduce costs to better align the company’s operational needs with lower tower activity, as discussed in Crown Castle’s second quarter 2023 earnings release. The plan includes reducing the company’s total employee headcount by approximately 15%, discontinuing installation services as a product offering within the …
Incline acquires GME Supply as the company positions itself for additional product lines and growth
Platte River Equity, a Denver-based private equity firm, announced the sale of GME Supply Co. to Incline Equity Partners. GME is a premier critical worker safety and productivity supplier distributor to field-deployed technicians serving multiple infrastructure end markets. “Platte River’s investment played a pivotal role in the acceleration of our growth and development. We are confident that Incline shares our dedication …
Fentanyl water bottle death hoax hits home about not accepting water or food from strangers
Last Wednesday, San Diego Gas and Electric (SDG&E) sent out a warning to its contractors that claimed that a stranger gave two workers on a solar project a water bottle, and the incident alert said: “Apparently, the water bottles were laced with Fentanyl. Sadly, one of the flaggers died, and the other is in critical condition after ingesting the water.” …
AT&T says Mississippi county is stiffing it for relocation costs after they were forced off private property
AT&T is suing Rankin County, MS, in U.S. District Court for Southern Mississippi, for relocation expenses incurred when the county required the carrier to move its distribution and other equipment for a road expansion project from a leased easement from a private property owner that it had acquired in 1991. AT&T alleges that after Rankin County announced that it would widen …
As telecom infrastructure builds stall, some carriers are faced with a new dilemma, toxic lead cables
Shares of AT&T Inc fell more than 5% yesterday, reaching their lowest level in thirty years, after analysts downgraded the stock following a Wall Street Journal report last week that said the telecommunications giant left toxic lead cables buried across the United States. The investigative article said that Verizon and other carriers also abandoned the underground lead cables, possibly contaminating …
Insurer wins $112K default judgment for unpaid audit premiums owed by Vanguard Towers
A federal court for the Western District of Louisiana provided an insurer with a default judgment of over $112,000 against Vanguard Towers Inc. in its April 3, 2023, lawsuit over unpaid premiums after the company failed to enter a response to the insurer’s complaint. The court ordered the cell tower retrofitting and construction company to pay Fisher Brown Bottrell Insurance …
FCC nominee Gomez advances to Senate floor despite Ted Cruz’s protests, Carr and Starks are renominated
The Senate Committee on Commerce, Science, and Transportation voted today to bring nominations for the Federal Communications Commission to a floor vote against dissent from multiple Republican senators. The vote considered the renomination of commissioners Brendan Carr and Geoffrey Starks and the nomination of Democrat Anna Gomez, who currently serves as senior advisor for international information and communications policy in …
Doctor Joyce examines a tower site to appreciate how the industry can assist in curing the digital divide
Although Crown Castle’s safety protocols do not require having a medical doctor on a tower site when technicians are present, one was available for Novotech Construction’s safety-conscious tower techs recently should a medical emergency present itself during a recent tower compound visit by Pennsylvania Congressman John Joyce. Dr. Joyce has represented Pennsylvania’s 13th Congressional District since January 2019 and has …
QualTek is close to emerging from bankruptcy as stockholders lose all of their equity
QualTek Services, Inc., currently in a Chapter 11 bankruptcy reorganization, knew that its stock would be delisted from the NASDAQ stock market after it was notified on January 5, 2023, that if its listed securities didn’t reach a minimum bid price of $1 for 30 consecutive days through July 5, 2023, the company’s shares would be delisted. NASDAQ made it …
Collecting $3 million from an ISP will be a tough road to hoe for American Tower and Crown Castle with its $386k
American Tower Corp. (ATC) has filed a lawsuit against a wireless and satellite internet, phone, and DISH television provider, alleging it stopped paying rent payments on 60 of its structures on November 24, 2021. ATC says it is due $2,891,885 plus attorneys’ fees and other costs from TPT SpeedConnect, LLC. SpeedConnect advertises that it is proud of the role it …
Nexius, owing $600 million to creditors, shoveled millions to a supplier in Beirut before filing bankruptcy
In 2001, brothers Nabil and Ned Taleb co-founded Nexius in a two-bedroom Virginia apartment. They continued to bootstrap their first year’s revenues of $1 million to a multi-corporation self-performing wireless industry enterprise that boosted revenues to $1 billion in 2022. But cash is king, and they ran out of it last year and sought Chapter 7 bankruptcy protection three weeks …
