AT&T Agrees to $4.85 Billion Tower Deal With Crown Castle
By Scott Moritz & Serena Saitto - Oct 21, 2013
AT&T Inc. is banking $4.85 billion from yesterday's cell-tower deal with Crown Castle International Corp., giving it extra cash for network upgrades, new spectrum and a possible European expansion.
The agreement, which involves leasing or selling 9,700 wireless towers to Crown Castle, makes AT&T the latest carrier to offload antenna sites to independent operators -- a transaction that lets the company focus on growth areas or more profitable parts of the business.
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