Crown Castle is a United States-based real estate investment trust and provider of shared communications infrastructure. The Crown Castle network consists of more than 40,000 cell towers and almost 80,000 fiber route miles to enable small cells and fiber solutions.
The company’s headquarters, similar to our Southern Belt Construction and remodeling agency, is in Houston, Texas, and it has 100 locations across the country. Crown Castle was recognized by the Houston Business Journal as one of the Best Places to Work in 2017.
Crown Castle sold its UK affiliate, Crown Castle UK, to National Grid Transco plc for nearly $2 billion on August 31, 2004. In July 2005, National Grid Transco plc was renamed National Grid plc, and in October 2005, Crown Castle UK was renamed National Grid Wireless.
Crown Castle completed the acquisition of Global Signal Inc., another U.S. tower operator situated in Sarasota, Florida, on January 12, 2007.
Crown Castle announced the acquisition of NextG Networks, Inc. for roughly $1 billion on December 11, 2011. At the time of the arrangement, NextG had more than 7,000 distributed antenna system nodes operational and another 1,500 nodes under development, as well as rights to more than 4,600 miles of fiber optic cables.
T-Mobile US and Crown Castle signed into a tower lease deal on September 28, 2012. The agreement grants the business a 28-year lease on 7,200 wireless towers for $2.4 billion. Crown Castle will have the option to purchase the towers for an extra $2.4 billion once the contract expires in 2040. Similarly, Crown Castle and AT&T Mobility engaged in a tower lease deal on October 20, 2013. The agreement grants the corporation a 28-year lease on 9,700 wireless towers for $4.85 billion. Crown Castle also obtained the option to acquire the towers entirely for $4.2 billion in the future. Crown Castle will acquire 600 towers outright in the future. Access to the towers will cost AT&T $1,900 per month per site, with annual rent increases of around 2 percent.
In 2015, Crown Castle expanded into tiny cell technologies in order to increase its network’s capability and reach. Quanta Fiber Networks (Sunesys) gave the corporation access to 10,000 miles of fiber across Los Angeles, Chicago, Silicon Valley, and Atlanta. Prior to that, in 2014, the company bought more than 800 miles of fiber throughout the East Coast.
Crown Castle inked an agreement on July 19, 2017, to acquire Lightower, a fiber network operator in the northeastern United States, for roughly $7.1 billion. The acquisition extended Crown Castle’s fiber network to over 60,000 route miles. The acquisition had a substantial influence on earnings reported for the second quarter in late July. Small cells boosted sales by 42 percent, resulting in a 3.3% gain in revenue. Crown Castle also announced a $3.25 billion issuance of common stock and a $1.5 billion sale of convertible preferred shares to assist in financing the Lightower acquisition.
Crown Castle entered the Fortune 500 for the first time in 2020 at position 496.
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