AT&T and Crown Castle Announce $4.85B Tower Transaction:

AT&T and Crown Castle Announce $4.85B Tower Transaction:

AT&T has agreed to lease 9,100 cell towers and sell another 600 towers to Crown Castle International for $4.85B. After the lease expires in an average of 28 years, CCI will have the ability to purchase those towers for about $4.2B. This deal comes amid consolidation of cell-phone tower operators and positions both companies well for future growth.