News

Vertical Bridge says a $3.3 billion deal involving thousands of towers across the United States has been finalized.

By: Brad Randall, Broadband Communities

A multi-billion-dollar deal between a communications infrastructure operator and Verizon has finalized as of late December.

In the deal, which sees Vertical Bridge acquire leasing rights for more than 6,300 wireless communications towers, Verizon will receive approximately $3.3 billion.

In addition to leasing rights, Vertical Bridge will acquire operational rights, along with management rights, a December statement from the company explained.

Ron Bizick, the president and CEO of Vertical Bridge, called it a transformative milestone in the company’s history.

“These under-tenanted towers, many in hard-to-site locations, uniquely position us to expand vertical real estate solutions to our customers,” Bizick said in Vertical Bridge’s Dec. 23 announcement. “With the addition of these towers, Vertical Bridge looks forward to growing our partnership with all our tenants.”

Currently, Vertical Bridge has control of roughly 17,000 owned and leased towers, a summary of their operations stated.

The towers included in the deal, first announced months ago after growing speculation, stretch across all 50 states, a summary of the deal stated.

The news caps off a busy year for transactions involving communications towers in the United States.

In May, T-Mobile announced their own deal to acquire “substantially all” of UScellular’s wireless operations, including the company’s wireless customers, stores, and some of the firm’s spectrum assets.

The deal, which was subject to regulatory approval, will allow T-Mobile to lease space on 2,100 towers operated by UScellular.

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