Agile Networks announced today, along with Indiana Governor Mike Pence, that negotiations have been finalized on an agreement that will license the state of Indiana’s communications infrastructure to Agile. The Indiana Finance Authority board approved the agreement this morning, pending review by the state’s legislative budget committee. The deal will have Ohio-based Agile put up $50 million immediately to Indiana …
In unique deal, CTI picks up 10 towers from Connoisseur Media for $4.1 million
Connecticut-based Connoisseur Media has announced that it struck a $4.1 million deal to sell a “package” of towers to Massachusetts-based CTI Towers. What may be an unusual deal was announced in an unconventional way along with the possibility of creative financing. In place of providing a joint press release announcing the agreement, Connoisseur CEO Jeff Warshaw copied a short article …
Civil lawsuit filed against Verizon as the culprit for tower collapses
A Massachusetts tower owner says Verizon acted without due caution in adding equipment to their tower, causing it to collapse in 2014, and they are suing the carrier for $477,000. In reply to the complaint, Verizon said that the damages were caused by “an act of God, and were not in reason preventable by human foresight, strength or care.” North …
Hugely profitable state-wide tower deal most likely will never be bested
Hybrid fiber optic provider Agile Networks has a sweetheart deal with Ohio’s state officials that will make all tower companies blush with envy. The Department of Administrative Services authorized Agile to sublease space on up to 82 state-owned communication towers that form part of the state’s Multi-Agency Radio Communications System. And with just one tenant on them such as T-Mobile …
Court strips the FCC of its power to preempt state laws
A circuit court of appeals dealt a severe blow to the Federal Communications Commission when it ruled today that the agency could not preempt state laws that restrict the growth of municipal broadband networks. In February 2015, the FCC voted to block laws in North Carolina and Tennessee that prevent municipal broadband providers from expanding outside their service areas. Chairman Tom …
Amended colocation agreement lessens historic preservation reviews and speeds up 5G
The Federal Communications Commission took another significant step to facilitate the deployment of infrastructure critical to ensuring American leadership on next-generation wireless service, or 5G. Building on previous infrastructure reforms, the Wireless Telecommunications Bureau signed an agreement to eliminate historic preservation review for small facility deployments across the U.S. that do not adversely impact historic sites and locations. The agreement …
One ‘tower treasure’ found by a landowner is worth at least a quarter million dollars
Tower techs frequently talk about ‘tower treasures’ that they find at a cell site left by previous crews, from hand tools to rigging blocks, and a host of other equipment. But it’s rare for a homeowner to discover that someone had built a multi-tenant tower designed for someone else and left it installed on his property, while another property owner benefited …
Alaska’s contractors could feel the pinch of GCI’s capex belt tightening
Alaska’s General Communication, Inc. (GCI) announced yesterday that its deal to sell approximately 275 urban wireless towers and rooftop sites to Florida-based towerco Vertical Bridge closed Monday, providing the company with approximately $90 million in the transaction that was announced in May. The largest Alaska-based and operated, integrated telecommunications provider, however, also announced some unsettling news to its vendors and …
A large chunk of capital will help InSite expand its national presence
InSite Wireless Group, LLC (InSite) today announced that Macquarie Infrastructure Partners III (“MIP III”)—as part of an initial investment of approximately $280 million—has acquired a 42.5% equity interest in the company from Catalyst Investors II, L.P. and other minority investors. MIP III has also committed to additional future investments to promote InSite’s continued growth. InSite owns, operates, and manages wireless …
American Tower’s chief says pressures to lower their tenant rates aren’t working
During American Tower Corporation’s second quarter earnings analysts’ call yesterday, President and CEO James Taiclet fielded questions regarding whether the company might need to reduce its carriers’ tenancy rates. Taiclet said, no. Answering Barclays analyst Amir Rozwadowski’s question regarding concerns about future lease escalator rates, with some carriers expressing “some consternation about how the compounding growth outlook of that cost …
The sky doesn’t appear to be ready to fall upon tower company stocks anytime soon
Almost four months ago, a well-respected telecom financial analyst downgraded the public tower companies, later citing that she believed that a couple of the major carriers may be trying to bypass the major towercos – or at least presenting that posture so that they could control rising rent escalators. In a March 4 statement, Wells Fargo senior analyst Jennifer Fritzsche …
New FAA rules will require some 50-to-200-foot towers to be marked
Last December, the FAA established new obstruction lighting and marking rules, and Wireless Estimator developed a handy industry reference tool that breaks down and easily explains the 90-page document’s changes from the previous advisory circular. However, the most current regulations will likely be changed again by the FAA within the next year when certain towers, in the 50-to-200-foot in height …
Tower owner Digital Bridge spreads its wings with a major data center acquisition
Digital Bridge Holdings announced today the acquisition of DataBank, Ltd., a leading North American provider of enterprise-class data center solutions including colocation, managed services, as well as cloud and network services. Digital Bridge has partnered with Teachers Insurance and Annuity Association of America, Allstate Investments and The Edgewater Funds in the acquisition. Financial terms of the transaction were not disclosed. …
Lease buyout firm Unison cuts back its staff while selling off some assets
Cell site lease buyout firm Unison Site Management has sold 760 leases to competitor Melody Wireless Infrastructure for an undisclosed amount, according to a press release from Melody. Omar Jaffrey, Managing Partner at Melody Capital Partners, and CEO of Melody Wireless Infrastructure stated: “This latest acquisition will solidify Melody’s presence within the wireless infrastructure ecosystem and directly aligns with our …
Questionable generator footprint could cost American Tower up to $140,000
A real estate investor bought a Roanoke, Va. property last May that had American Tower Corporation enjoying a small leased portion of the 2613 Franklin Rd. site for a multi-tenant tower, but after Farrell Properties, Limited reviewed the lease documents, they’re claiming that ATC had encroached upon land outside of their leased area and put in a generator, and they …
GCI feels the FCC’s wrath again, this time for 911 outages costing them $2.4 million
The Federal Communications Commission’s Enforcement Bureau has reached a $2.4 million settlement with General Communication, Inc. (GCI), resolving an investigation into five 911 service outages that occurred on the company’s wireless network in various parts of Alaska between August 2008 and April 2016. As part of the settlement, GCI has agreed to strengthen its procedures for providing 911 service and …
Top U.S. towercos eyeing Deutsche Telekom’s towers in Germany
As America gets ready to celebrate Independence Day on Monday, considered by some to be the original Brexit, Deutsche Telekom is prepping the sale of thousands of its German towers in a potential $5.5 billion deal. Goldman Sachs and Morgan Stanly are organizing the sale of the structures. SBA Communications, American Tower and Crown Castle are on the invite list, according to …
Tower workers compensated for heights and dangers while building the CN Tower
Canada celebrated Toronto’s iconic 1,815-foot CN Tower’s 40th birthday yesterday as many of the iron workers who built it, lots of them now in their seventies and eighties, possibly celebrated that they weren’t killed during construction due to what appeared to be limited use of personal fall protection. But many of them photographed without any harness on didn’t appear to …
Vertical Bridge uses 1,500 tower sites to close on $321 million in funding
Vertical Bridge, the largest private owner and manager of wireless communication infrastructure in the U.S., today announced it has closed on a $321 million asset-backed securities offering led by Deutsche Bank Securities and Barclays. The issuance, which is secured by more than 1,500 Vertical Bridge tower sites across the U.S., gives the company additional flexibility to continue its real estate …
Communications Sales & Leasing to acquire Tower Cloud
Communications Sales & Leasing, Inc. (CS&L) announced today that it has entered into a definitive agreement to acquire privately-held Tower Cloud, Inc. for $230 million in cash and stock. Tower Cloud is a leading provider of data transport services, with a particular focus on providing infrastructure solutions to the wireless and enterprise sectors, including fiber-to-the-tower backhaul, small cell networks, and …
