AT&T announced Sunday it has agreed to lease or sell the rights to 9,700 cell phone towers for $4.85 billion to Crown Castle International, which provides infrastructure for broadcasting and mobile telecommunications.
Under the terms of the deal, Crown Castle will have the option to purchase 9,100 towers for $4.2 billion after the average lease term of 28 years expires. Crown Castle will also purchase about 600 AT&T towers immediately.
As part of the deal, AT&T will sublease network capacity on the towers for $1,900 per month tower. That … Read more