American Tower corporation has renewed its long-standing partnership with Verizon by signing a new lease agreement. Neither the financial terms nor the length of the new tower agreement were disclosed. This long-term lease agreement will bolster Verizon’s ongoing 5G network deployments across the US. The access to additional towers is key to advancing their goal of closing the coverage gap on T-Mobile US.
In a statement to Mobile World Live (MWL) Verizon said that the two companies had been negotiating since December, when the previous contract expired. A new agreement was reached on August 30th.
Craig Moffett, a MoffettNathanson analyst, noted in a July research note that Verizon and AT&T’s recent earnings results were good for tower leasing companies such as American Tower, as investing to catch up with T-Mobile is one of the most plausible paths they may take to improve their performance.
If you have a cell tower lease with Verizon or American Towers and are wondering how this agreement impacts you, contact Vertical Consultants. Our experts will help you understand your lease and options. If you are renewing a lease, considering a new one, or selling one, we will ensure that you get the most value and best terms possible.
The tower companies have experts on their side. Shouldn’t you?