Verizon Communications Inc. (NYSE, Nasdaq: VZ) and Vertical Bridge today announced they have entered into a definitive agreement for Vertical Bridge to obtain the exclusive rights to lease, operate and manage 6,339 wireless communications towers across all 50 states and Washington, D.C. from subsidiaries of Verizon for approximately $3.3 billion, including certain commercial benefits. The transaction is structured as a …
Luxury lifestyles, no bars: America’s wealthiest town in Texas blocks cell tower, Vertical Bridge lawsuit alleges
If you reside in Westlake, Texas, you’re part of the wealthiest community in the state, where the average home sells for nearly $5 million, and the mean household income soars to $508,000. In this exclusive enclave, dandelions dare not blemish the meticulously manicured lawns; luxury is the norm. However, even in a town that Forbes once named the most affluent …
Judge throws out Vertical Bridge’s trade secret lawsuit against Everest Infrastructure in Pennsylvania
The United States District Court for the Western District of Pennsylvania has dismissed the lawsuit filed by Vertical Bridge REIT, LLC and its subsidiaries against Everest Infrastructure Partners, Inc. The lawsuit, which included allegations of trade secret misappropriation, violations of the Lanham Act, and other claims, was dismissed without prejudice by Judge W. Scott Hardy. Vertical Bridge initially filed the …
Vertical Bridge kicks broadcast squatter off its towers after running up $2 million in unpaid leaseback payments
A Texas-based radio station network has been kicked off Vertical Bridge’s towers for ignoring its rent payments for years, forcing the company to take nine stations silent. In February 2018, Vertical Bridge, REIT Inc. purchased 43 towers and the underlying property from High Plains Radio Network, LLC of Texas (HPRN). The purchase price was not published but was likely $16 …
Industry leaders at Connect X foresee massive growth for indoor 5G networks
The wireless industry is abuzz with anticipation for the potential of bringing 5G technology indoors. This technology promises faster and more reliable connections, lower latency, and the ability to connect a massive number of devices simultaneously. During the Wireless Infrastructure Association’s (WIA) View From the Top session on Thursday at Connect X, moderated by Patrick Halley, President and CEO of …
Industry influencers Adelstein and Borghei make strategic moves to new company leadership roles
Two seasoned leaders, Jonathan Adelstein and Bernard Borghei, have announced new positions within the digital infrastructure industry. Adelstein has joined TWN Communications as the new Executive Vice President, Chief Strategy and External Affairs Officer. He was previously a managing director at DigitalBridge. Borghei will now be Symphony Wireless’s Chief Executive Officer. He formerly served as the Chief Revenue Officer of Tower …
Everest’s defense in Vertical Bridge’s trade secrets theft lawsuit is they weren’t even close to trade secrets
In an April 3, 2024, Western District of Pennsylvania court filing, Everest Infrastructure Partners moved to dismiss an amended complaint filed by Vertical Bridge, arguing that the trade secrets Everest is accused of stealing and benefitting from were not secrets. Vertical Bridge filed a lawsuit against competitor Everest last June, alleging that it ran an unfair “multi-million dollar scheme to …
DigitalBridge’s corporate move to downtown Delray Beach will provide an uptown setting for its employees
When a large corporation moves to a new headquarters, it’s often a problem for employees who have to relocate. Still, DigitalBridge’s announcement today that it is moving its entire staff north to a new mixed-use complex is being welcomed by employees since the move to Delray Beach from its Boca Raton, FL headquarters is less than six miles further or …
Shentel strikes a $310 million deal with Vertical Bridge to sell its tower portfolio of 226 sites
Shenandoah Telecommunications Company (Shentel), a prominent provider of broadband services, including cable TV across the Mid-Atlantic region, has announced a significant transaction with Vertical Bridge Holdco, LLC, a company based in Boca Raton, Florida, led by President and CEO Ron Bizick. Shentel will sell its tower portfolio and operations to Vertical Bridge for $310.3 million in cash. This deal, expected …
While doubling its portfolio, Vertical Bridge maintains carbon neutrality
Vertical Bridge REIT, LLC (Vertical Bridge), the largest private owner and operator of communications infrastructure in the United States, today announced that it has achieved CarbonNeutral® company certification through 2023, in accordance with The CarbonNeutral Protocol, the leading global framework for carbon neutrality. Vertical Bridge began a proactive review of its environmental footprint in 2020, which resulted in its initial CarbonNeutral® Certification. The …
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 …
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 …
Aggravated over aggregator Everest’s ‘multi-million dollar scheme’, Vertical Bridge files a lawsuit
Vertical Bridge REIT, LLC has filed a lawsuit against competitor Everest Infrastructure Partners (EIP), alleging that it ran an unfair “multi-million dollar scheme to unlawfully improve its market share” at Vertical Bridge’s expense through trade secret misappropriation, interfering with existing contractual relations and false advertising. Vertical Bridge, the tower arm of Digital Bridge, requests that EIP provide an accounting of …
Bernard Borghei joins Tower Engineering Professionals as its new Chief Revenue Officer
Tower Engineering Professionals (“TEP”), a leading full-service provider of engineering and maintenance services to the tower, mobile network, and other telecom infrastructure customers, welcomes Bernard Borghei as its new Chief Revenue Officer. Borghei is the Co-Founder and former Executive Vice President of Operations of Vertical Bridge and has over 29 years of experience in the wireless telecom and infrastructure …
Verizon and Vertical Bridge agreement creates new profit share model while speeding deployment
Verizon and Vertical Bridge have agreed to build cell towers nationwide to expand Verizon’s 4G and 5G Ultra Wideband services. Vertical Bridge has agreed to construct these towers to-suit with Verizon as the anchor tenant. The towers will be held in an LLC formed by Vertical Bridge in which Verizon has a profits interest. The new towers will add to the …
Vertical Bridge appoints Ronald Bizick as President and CEO, Alex Gellman becomes Executive Chairman
Vertical Bridge REIT, LLC, the largest private owner and operator of communications infrastructure in the United States, today announced the appointment of Ronald G. Bizick, II as President and Chief Executive Officer effective May 2, 2023. Bizick has served as President and Chief Operating Officer since joining the Company in March 2022. Current CEO and Co-Founder Alex Gellman will become …
Ian’s Florida cell site outages still critical in some counties with a 28% average as deaths continue to mount
According to the FCC, the cell site outage average on Sunday dropped to 28% in the most affected Florida Counties that saw outages of 20% or higher. Although it’s a severe concern for residents and first responders still performing rescue missions, service had increased considerably since Thursday when half of the state’s cell sites were down. At least 89 people …
Vertical Bridge achieves carbon neutrality for third consecutive year
Vertical Bridge REIT, LLC, the largest private owner and operator of communications infrastructure in the United States, today announced that it has realized 100 percent carbon neutrality for the third consecutive year. The Company began a proactive review of its environmental footprint in 2020 which resulted in its initial CarbonNeutral® Certification that year and the subsequent renewal in 2021. “U.S. …
Johnny Crawford and Bob Paige elevated to key executive positions at Vertical Bridge
Vertical Bridge, the largest private owner and operator of communications infrastructure in the United States, today announced the promotion of two of its longest serving leaders to Executive Vice President. Johnny Crawford was named Executive Vice President of Development, and Bob Paige was appointed Executive Vice President of Mergers & Acquisitions and Corporate Development. “Bob and Johnny have been leaders …
Bogus BLS averages put larger wireless contractors at a greater risk of being red-flagged
Avetta and other compliance vendors continue to use the U.S. Department of Labor’s Bureau of Labor Statistics (BLS) data to initially assess the safety culture and performance of wireless contractors through metrics such as the Total Recordable Incident Rate (TRIR) average. Compliance vendors red flag contractors if their TRIR exceeds the BLS’s current TRIR averages, even though they are aware …
