Crown Castle International Corp.
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| Public | |
| Traded as | NYSE: CCI |
| Website |
crowncastle |
Crown Castle International Corp. is an American corporation headquartered in Houston, Texas, which provides infrastructure for broadcasting, mobile telephony and wireless broadband including small cell, traditional cell sites, rooftop sites and indoor/outdoor distributed antenna systems.[1] It operates in the United States and Puerto Rico. It provides mobile telephone coverage to all of the top 100 markets in the US[2] on behalf of service providers such as Verizon, AT&T Mobility, Sprint and T-Mobile. In 2015, the company ranked #166 in the S&P 500 index.
Recent History
On August 31, 2004 Crown Castle completed the sale of its UK subsidiary, Crown Castle UK, to National Grid Transco plc for $2.035 billion in cash. National Grid Transco plc was renamed as National Grid plc in July 2005, while Crown Castle UK was renamed National Grid Wireless in October 2005.
On January 12, 2007, Crown Castle completed the acquisition of Global Signal Inc., a rival U.S. tower operator which was based in Sarasota, Florida.[3]
On December 11, 2011, Crown Castle announced a definitive agreement to purchase NextG Networks, Inc. for about $1.0 billion. NextG had over 7,000 distributed antenna system nodes on-air at the time of the agreement with another 1,500 nodes under construction as well as rights to more than 4,600 miles of fiber optic cables.[4]
On September 28, 2012, Crown Castle entered a tower leasing agreement with T-Mobile USA. The deal leases 7,200 wireless towers to the company for a term of 28 years in exchange for $2.4 billion. After the deal ends in 2040, Crown Castle may be able to purchase the towers for an additional $2.4 billion.[5]
On October 20, 2013, Crown Castle entered a tower leasing agreement with AT&T Mobility. The deal leases 9,700 wireless towers to the company for a term of 28 years in exchange for $4.85 billion. Crown Castle also gained the right to acquire the towers outright in the future for $4.2 billion. 600 towers will be acquired outright by Crown Castle in the future. AT&T will pay $1,900 a month per site to access the towers with rent rising approximately 2% per year.[6]
References
- ↑ "CCI Profile | Crown Castle International Corp Stock - Yahoo! Finance". Finance.yahoo.com. Retrieved 28 September 2012.
- ↑ http://investor.crowncastle.com/phoenix.zhtml?c=107530&p=irol-newsArticle_print&ID=1888377&highlight=
- ↑ Crown Castle International Corp. - Crown Castle International Completes Acquisition of Global Signal
- ↑ Brow, Jay (2011-12-16). "Crown Castle Announces Agreement to Acquire NextG Networks". Crown Castle. Retrieved 4 November 2013.
- ↑ Rusli, Evelyn (2012-09-28). "T-Mobile Sells Rights to Towers for $2.4 Billion". The New York Times. Retrieved 4 November 2013.
- ↑ De La Merced, Michael (2013-10-20). "AT&T in $4.85 Billion Tower Deal With Crown Castle". The New York Times. Retrieved 4 November 2013.