Verizon, largest US mobile phone company, is looking to sell approximately 12,000 of its wireless towers by the end of 2014 to Crown Castle, the leading tower company in the U.S. The $6 billion dollar price tag would enable Verizon to continue its network upgrade and expansion into the wireless market.
Other wireless carriers, including AT&T, have taken the same path, in order to acquire instant funds to utilize toward the improvement of their networks. According to a wireless industry strategist, “An infusion of cash would give Verizon more flexibility after its debt ballooned to finance the $130 billion deal to buy full control of its wireless unit earlier this year.”
This transaction will not only give Verizon the resources it needs to improve its wireless network, but it has also given Crown Castle even more power in the wireless industry. This will have an impact on property owners who have existing leases on their property. Proper representation is vital when re-negotiating or making changes to any telecom lease.
Vertical Consultants has made its mission to provide clients with the data they need. While Crown Castle has professionals on their side who know the true value of every tower site they currently control, and will soon be controlling due to this transaction, property owners should have advocates working for them to determine options to optimize their telecom assets.