Crown Castle, which owns, operates and manages over 11,000 cell phone towers and wireless communications sites in the U.S. and Australia, agreed to acquire privately-held Mountain Union Telecom for approximately $309 million in cash (reduced by outstanding indebtedness). Mountain Union's assets at closing are expected to include 468 completed sites as well as 79 towers in various stages of development.
Crown Castle currently provides coverage to 76 of the top 100 U.S. markets and to substantially all of the Australian population.
Mountain Union's completed sites are expected to add approximately $26 million in annualized site rental revenue, over 92% of which is derived from wireless telephony, broadcast, and government tenants, and approximately $18.2 million in annualized site rental gross margin. The average age of the completed sites in the portfolio is 4.6 years with concentrations in key markets such as Puerto Rico, Los Angeles, Denver, Phoenix and Las Vegas.
http://www.crowncastle.comhttp://www.mountainuniontelecom.com
- Modeo, a subsidiary of Crown Castle International, plans to officially launch its DVB network and its commercial-grade multicast mobile broadcast center during 2006 in select major U.S. markets, including New York City. The company currently is working on deployment of the network to the top 30 U.S. markets, with launches targeted throughout 2007.
