American Tower Corporation announced changes to its senior management team. Ed DiSanto intends to step down from his position as Executive Vice President, Chief Administrative Officer, General Counsel, and Secretary, effective January 1, 2023. Ruth Dowling, who has been with American Tower for over ten years, will succeed DiSanto in those roles. To assist in the transition of responsibilities, DiSanto …
Verizon signs lease deal with American Tower to boost 5G deployment
American Tower Corporation and Verizon Communications Inc. (NYSE, Nasdaq: VZ) announced today that they have signed a new overarching lease agreement, facilitating Verizon’s on-going 5G network deployment across American Tower’s extensive U.S. portfolio of communications sites, with over 11,000 of them on Verizon towers that American Tower acquired the rights in 2015 to lease and operate through 2045. The agreement …
NATE, American Tower Corporation and MILLERCO Host U.S. Senator Roger Wicker
NATE: The Communications Infrastructure Contractors Association and member companies American Tower Corporation and MILLERCO hosted U.S. Senator Roger Wicker on a communications tower site visit in Gulfport, Mississippi yesterday. Gulfport Mayor Billy Hewes also attended the event. During the site visit, Senator Wicker and Mayor Hewes toured the communications tower compound with event participants to learn about all the on-site …
Indiana court nixes Norfolk Southern’s claim that it was due profit sharing revenues from towerco
An Indiana court found that Global Tower LLC did not owe Norfolk Southern Railway Co. a percentage of its revenue from a tower on land owned by the railroad in Peru, Indiana. United States District Judge Robert Miller, Jr. granted Global’s summary judgment motion Tuesday, finding that the tower operator never agreed to take on the previous deal between Norfolk …
Stonepeak carves out a 29% interest in American Tower’s U.S. data center business for $2.5 billion
American Tower Corporation and Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced that Stonepeak, on behalf of certain affiliated investment vehicles, will acquire an ownership interest of approximately 29% in American Tower’s U.S. data center business as part of a new long-term strategic partnership. The partnership will be realized through an investment in common …
A reverse stock split is oftentimes cautionary, but DigitalBridge Group says it’s all part of the grand plan
A reverse stock split oftentimes signals that a company is trying to stay listed on major exchanges, such as the New York Stock Exchange, where a company’s shares are required to not trade below $1 for 30 consecutive days. NYSE-traded DigitalBridge Group announced yesterday that within the next three months the company expects to have a reverse stock split in …
Towerco stocks tank as Communication Services Sector declines 33% and REIT Index shaves 23%
Towerco stocks notched a slight increase on Friday, but they’re still way off their 52-week highs. All four of the publicly traded companies saw significant declines beginning in December 2021, with considerable losses last week. DigitalBridge Group is down a reeling 45%, while Crown Castle Int. Corp. declined 26%, and SBA Communications Corp. saw a 25% drop. American Tower Corp. …
Pieter Nel elevated to CEO of American Tower Europe; Julian Plumstead takes M&A Post
American Tower Corporation, one of the world’s largest real estate investment trusts and a leading independent owner, operator and developer of telecommunications real estate and infrastructure, continues to grow in Europe. Pieter Nel was appointed CEO for Europe, one of the key markets for the multinational. Pieter has more than 25 years’ experience in the telecommunications sector and has spent more than a …
Nationwide strike of contractors averted after carriers and towercos agree to meaningful concessions
An organized work stoppage action by U.S. wireless contractors that could have exceeded the breadth of economic damage caused by the steel workers strike of 1919, that shut down the nation’s steel industry, was averted yesterday after carriers and tower owners offered concessions to offset untenable matrix pricing being offered for 5G installations. The call to action for a national …
U.S. towerco is bid up in down under 2,000 tower deal that went to ATN and Singtel for $2.7 billion
UPDATE – April 1, 2022: Macquarie Asset Management today announced that, alongside its coinvestors, it has entered into binding agreements with Australia Tower Network (ATN), owned by AustralianSuper and Singtel, for the sale of 100% of Axicom for $2.7 billion (US). Earlier reports said that the assets, formerly Crown Castle’s towers, were expected to fetch approximately $2.1 billion US. American …
ATF accuses man of setting fire to American Tower cell site, trying to destroy multiple other locations
A Jackson County Mississippi man is facing federal charges from the U.S. Department of Justice, Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) after a special agent said the arsonist maliciously set fire to an American Tower cell tower earlier this month. Manuel Alejandro DeJesus is alleged to have set fire to at least three cell towers in the Jackson …
American Tower reportedly a contender for 41,000 Deutsche Telekom towers for $20 billion
American Tower is reportedly a key contender for a 41,000 Deutsche Telekom towers acquisition. Deutsche Telekom reportedly started the sales process for its mobile towers business as part of broader efforts to maximize the value of its infrastructure assets. Reuters reported the Germany-headquartered operator is working with Goldman Sachs as adviser in the sale of its 40,600 towers, which the …
Wireless infrastructure pioneer Van Thompson passes away
Van Thompson, a cell tower development pioneer, passed away quietly at his home in Annapolis, Maryland on January 5. He was 66. Thompson was known as a founding force in managing, developing and implementing wireless infrastructure in the mid-Atlantic region. He began his career in telecom in 1987 as a consultant purchasing right of way for fiber optics in Texas. …
American Tower makes mammoth $10.1 billion deal to buy data giant CoreSite Realty
American Tower Corporation and CoreSite Realty Corporation today announced that they have entered into a definitive agreement through which American Tower will acquire CoreSite for $170.00 per share in cash. The total consideration for the transaction, including the assumption and/or repayment of CoreSite’s existing debt at closing, is approximately $10.1 billion. The transaction, which was unanimously approved by the boards …
Day of remembrance includes American Tower subsidiary’s 13 employees who died on September 11
As we mark the passage of two decades since the day that changed our lives forever, the pain will be revisited on this day of remembrance and prayer, especially for those at a tower company who knew many of those people in a sister company who died in the collapse of the twin towers on September 11, 2001. General Telecom, a subsidiary …
India’s towercos in for a sharp tenancy decline if Vodafone Idea collapses leaving a duopoly
American Tower’s ATC Telecom and six other leading tower infrastructure companies could see their tenancies decrease overnight if Vodafone Idea (VI), the third-largest mobile carrier, goes bankrupt and leaves India with a duopoly telecom market. According to the Digital Communications Regulatory Authority of India (DCRAI) in a June report, VI lost its largest number of subscribers ever of 4.3 million …
It’s possible the infrastructure bill will require tower techs and other workers to receive huge pay increases
Since the text of the infrastructure bill was released earlier this month, industry media have been surgically dissecting the limited details in the $1.2 trillion act that provides $65 billion for the nation’s broadband development. What is known is that $42.45 billion will be funneled to states to fund projects each state approves independently, if their telecommunications provider can offer speeds …
The unvarnished Tennessee truth: Trained tower techs will save lives
The nation’s tower techs take pride in their work and their ability to safely rescue a fellow worker if the occasion ever arises. Most techs will spend their career never having to perform an emergency rescue on a tower, but when it’s necessary, it’s nice to know that the men and women working alongside you have you covered. Such was the case …
American Tower is convinced Crown Castle’s early Dish builds is not a long-term concern
American Tower Corp. EVP, Treasurer and CFO Rod Smith said at Monday’s J.P. Morgan Global Technology, Media and Communications conference call that he’s not concerned that a competitor is expected to get a larger than typical share of Dish Network colocations. Although J.P. Morgan Managing Director Phil Cusick did not mention Crown Castle as the competitor in his interview, he …
American Tower shocks industry analysts with its planned acquisition of China Tower for $17.4 billion
Boston-based American Tower Corp. (ATC) is close to inking an agreement to buy China Tower Corp. Ltd. for $17.4 billion, a huge deal that will see ATC acquiring China Tower’s 2.2 million towers, expanding ATC’s 186,000 worldwide towers by 1,100 percent, according to a Forbes report today. The well-kept secret took the industry by surprise, and analysts are still trying …
