The sale of an array of four AM towers in Bethesda, Md. for a record $75 million or more wasn’t based upon outrageously high multiples being paid for Cumulus Media’s prime Beltway tower site; in fact, the buyers, Winchester Homes and Toll Brothers will be dismantling the four 400-foot towers that were erected in the early 1940s. The reported high …
U.S. tower counts and site information are often inaccurate and purposely misleading
Editor’s Note: The following article on the elusive number of towers in the U.S. and the total number of structures that companies state they own was published in Sept. of 2010, and while wireless technology has dramatically changed, tower count accuracy and a desire to embellish statistics hasn’t. And the article is still on target and worth the read. View Top 100 U.S. Tower Companies. Reporters, …
Lawsuit win sees contractor’s claim doubled and ownership of 32 towers up for grabs
A court decision requiring the owners of tower consolidator Horizon Towers of Marblehead, Mass. to have 32 of their towers “liquidated and distributed or otherwise used to satisfy the creditors of debtor Eastern Towers, Inc.,” also awarded Timberline Construction of Canton double its owed $264,774 for new site builds due to an unfair or deceptive act. The open market will …
200-plus tower deal floats Vertical Bridge to 5th largest U.S. tower owner
CiG Wireless Corp., a leading owner and operator of wireless communications infrastructure in the U.S. has announced the signing of an agreement to be acquired by an affiliate of Vertical Bridge Holdings, LLC, a wireless communication towers company. Vertical Bridge is acquiring the company’s tower assets, including a geographically diverse group of more than 200 tower sites, in a transaction …
Crown is exploring sale of its Australian towers and settling in the US
Crown Castle International Corp. announced today that it plans to explore the potential sale of its Australian subsidiary (CCAL). “In light of recent unsolicited offers we have received for our interest in CCAL, we have determined that fully exploring the options available to us will ensure the best long-term results for our shareholders,” stated W. Ben Moreland, Crown Castle’s President …
ATC leads slightly over Crown with their $5 billion 11,324 Verizon tower deal
American Tower Corporation today announced that it has been the successful suitor in acquiring the rights to approximately 11,324 wireless communications towers and purchase approximately 165 additional towers from Verizon Communications, Inc. for $5.056 billion. Under the agreement, American Tower will have the exclusive right to lease and operate the Verizon towers for a weighted average term of approximately 28 …
Varied opinions surface regarding Grain’s nTelos tower buy for $41 million
Although conversations at a Florida Wireless Association networking social of over 200 attendees last night ranged from carrier cap ex expenditures to planned business expansions of a number of key players, one frequent topic was Sarasota Fla.-based Grain Management’s purchase this week of 103 nTelos Wireless’ cell towers for $41 million. However, opinions differed regarding whether the $398,000 per-tower-deal made …
Vertical Bridge picks up iHeartMedia’s towers for $400 million
iHeartMedia today announced a deal to sell an undisclosed group of its radio towers to tower owner Vertical Bridge for up to $400 million. The broadcaster will continue to use the towers in a lease arrangement after the purchase closes, which is expected in the first quarter of 2015. iHeartMedia says the sale will help optimize its balance sheet and maximize …
