CTI Towers, Inc. (“CTI Towers”), a prominent player in the wireless tower industry and a portfolio company of Palistar Capital LP (“Palistar”), an alternative asset manager specializing in mission-critical communications and digital infrastructure, has unveiled its latest strategic move. The company proudly announces the acquisition of 56 towers in North Dakota from SRT Communications Inc. (“SRT”), the state’s largest telecommunications …
Towerco’s ‘synthetic’ leases surface in a 3,100 tower site deal that could be near $2 billion
Under the exploratory teaser name of Project Lighthouse, a U.S.-based towerco is looking to sell a portfolio of 3,100 real estate interests consisting of perpetual easements that might be sold at 25 times the $80 million base rent paid to the buyer, in the potential $2 billion deal, according to two Wireless Estimator sources familiar with the offering. For the …
North Carolina catches up to India’s ongoing homeowner lease scams
Ashe County, N.C. Sheriff B. Phil Howell is reaching out to residents, urging their support and collaboration in addressing a recent potential cell tower scam that has reportedly fleeced money from “many potential victims.” The Asche County Sheriff’s Office (ACSO) believes some homeowners may have fallen for this scheme, which may involve sending money for a deed search, cell tower …
TowerCo and Everest acquire 546 towers from Charter, which once had 1,200, lightly eclipsing CTI 525-tower deal
Everest Infrastructure Partners, Inc. (“Everest”) and TowerCo (“TowerCo”) have jointly revealed the acquisition of 546 wireless towers for an undisclosed amount from Charter Communications, Inc. (“Charter”) to be completed over multiple closings starting this month. The wireless tower assets included in this transaction are located in 37 states throughout the U.S. and collectively represent one of the more significant portfolio …
Crown Castle’s surprising about-face on Canonsburg relocation sparks employee confusion
Crown Castle Inc., in a dramatic turnaround, has left its employees in Canonsburg, PA, scratching their heads after abruptly canceling plans to relocate them to the corporate headquarters in Houston, TX. The decision comes following activist investor Elliott Investment Management’s call for changes within the company as CEO Jay Brown prepares to step down in January. Interim CEO Anthony Melone, …
Crown Castle CEO Jay Brown announces retirement amid activist investor pressure to resign
Communications infrastructure provider Crown Castle Inc. is undergoing a significant leadership change as CEO Jay Brown has decided to retire, effective January 16, 2024. The announcement comes amidst pressure from activist investor Elliott Management, which has been advocating for leadership changes and strategic improvements at the company. Brown’s departure follows a series of scathing critiques from Elliott, known for its …
Thieves find it more profitable in India to steal the entire cell site instead of stripping cable
Thieves normally specialize in stealing batteries or transmission lines at communications sites in the U.S., but in an incident in India, thieves went for the full monty, stealing the entire cell site. The theft occurred last March but wasn’t reported to authorities until last week in Uttar Pradesh’s Kaushambi district, where a cell tower, standing at 165 feet and weighing …
Crown Castle CEO Jay Brown must go, says Elliott Investment Management, after investing $2 billion
Elliott Investment Management L.P., which manages funds that collectively have an investment of approximately $2 billion in Crown Castle Inc., released a letter and presentation today detailing its perspectives on the company’s history of underperformance and calling for significant changes. One of those adjustments is for the Board of Directors to immediately provide an interim CEO to replace Jay Brown, who has held that position …
Delusional ‘Postmaster General’ serial coax thief Douglas Lee arrested again in North Carolina
In August, Yadkin County NC Sheriff’s Office investigators received a report that someone had climbed a tower in East Bend and cut off several hundred feet of coaxial cable that would likely be sold to a scrap metal firm. In October, another Yadkin County theft of copper cable was reported in Yadkinville. Detectives, with the assistance of AT&T Mobility Services, …
Big policy decisions loom over the future of America’s wireless networks, says WIA CEO Halley
By Patrick Halley, President and CEO, WIA – Wireless Infrastructure Association Access to broadband – fixed and mobile – is table stakes for participation in today’s Internet-driven economy. Hence the billions of dollars coming out of Washington to connect every unserved home in America. That’s good news for consumers who remain on the other side of the digital divide. Beyond a …
After an excellent Q3 financial report by DigitalBridge, the stock unexpectedly falls off a cliff
When American Tower Corporation (ATC)) released its Q3 earnings report on October 26, 2023, analysts were pleased with the company, beating its earnings per share of $1.26 by 11.51%. The company also had a surprise increase in revenue of 2.10% at $2.82 billion. Although ATC cautioned that its 2024 expectations might be slightly lower since annual 5G investments by U.S. …
Following a tech’s death, the industry unites for best practices for wire mesh grips in new NATE advisory
After a 32-year-old tower technician passed away last December in Texas and Wireless Estimator identified that a hybrid cable hoisting grip failure might have caused the fatality, NATE: The Communications Infrastructure Contractors Association engaged a Hoisting Grip Task Team to examine the use of wire mesh grips (WMG), and they provided initial guidance. Those subject matter experts within the industry, …
Ohio tower technician succumbs from injuries following a 250-foot fall during an AT&T installation
Services have been announced for Darren Bishop, 28, of Proctorville, OH, who passed away on Monday, September 25, 2023, after falling approximately 250 feet off a 300-foot guyed tower in Huntsburg Township, OH. According to individuals knowledgeable of the incident, Bishop, employed by Overland Contracting, had been working on an AT&T overlay project managed by Black & Veatch when he …
Rewards offered for a copper stripper’s arrest and recovery of a Hydradyne hoist
Two cash rewards have been offered, one leading to the arrest of an individual who stripped a Subcarrier Communications tower of copper and another for information that will lead to recovering a single drum winch and trailer. Last week, Tad Pepmeier was at a gas station in Monroe City, Indiana, close to where he lives, and noticed a tower climber …
Crown Castle’s Federal Sales Director says he was fired in retaliation for whistleblowing
A US District Court judge for the Eastern District of Virginia, on August 23, 2023, denied Crown Castle USA, Inc.’s request to dismiss a whistleblower’s complaint for failure to make a claim, and the company is now required to answer Matthew Foosaner’s amended complaint by September 15, 2023. Foosaner alleges one count of retaliation against Crown Castle according to the …
Breakaway pole requirement is just one of several ‘misapplied standards’ in Verizon’s New Jersey lawsuit
Verizon Wireless filed a lawsuit on September 7, 2023, against Monmouth County in New Jersey federal court, alleging the County wrongly rejected its applications to provide small cell site structures along the Borough of Belmar’s boardwalk based upon misapplied standards that were not supported by substantial evidence. Verizon said that it initiated a discussion with Belmar approximately five years ago …
Midco sells its towers and is sold on Sioux Falls as its new headquarters
Midco announced that it sold its tower portfolio to K2Towers. The companies did not reveal the amount of the transaction nor how many towers were in the agreement. However, according to Midcontinent Communications’ registrations with the FCC, the company has 33 structures. In a statement, Midco said the sale further solidifies the company’s commitment to delivering exceptional broadband services to …
As communities struggle with Idalia’s damage, cell tower sites have weathered the hurricane
Hurricane Idalia left a path of destruction in areas of Florida normally not impacted by a hurricane, leaving a trail of destruction on Wednesday in Florida before losing power as it moved inland through Georgia, South Carolina, and North Carolina. Although the Idalia might become one of the US’s costliest hurricanes, fortunately, it appears to have had a minimal impact …
Charleston’s historic skyline is degraded by a 5G mono toilet paper pole: residents
Founded 353 years ago, the City of Charleston, SC, is one of America’s most beautifully preserved architectural and historical treasures. It boasts the first public college, museum, and playhouse in the U.S., and unfortunately, as The Post and Courier has labeled it, the first “toilet paper tower” that has become a “prominent and regrettable Charleston landmark.” The publication’s editorial excoriated the erection …
Vertical Bridge lawsuit says 30-foot tower near Finley Point, Montana won’t fly
Vertical Bridge filed a lawsuit last week against Lake County, Montana, stating that there is a well-known gap in mobile coverage near the Finley Point area of Polson, Montana, and an unnamed carrier wants to fix it. Still, Vertical Bridge claims that Lake County’s onerous restriction of only allowing a 30-foot tall tower violates the towerco’s “federal rights” under the …
