A unnamed wireless carrier who has recently merged has been sending out letters to landowners with leases for a cell tower on their property alleging that due to consolidation of assets, that the landowner must take a 45% to 75% reduction in rent if they want to continue receiving any income. The letter is written in a way to suggest that if the landowner fails to renegotiate the lease, that there is a significant chance that the lease will be terminated.
This carrier appears to be sending these letters out to every tower lease holder within certain regions of the country. What is disturbing is that in some of these areas, one of the merged carriers was not even operating prior to the merger and as such, there are no assets to consolidate. I don’t believe that these scare tactics are ethical and feel sorry for the rural farmer who needs the lease income but has no way to verify whether or not these threats are real.
To make matters worse, this carrier has turned over the letter writing campaign to a third party company who is probably operating on a contingency arrangement. Some of my landowners have related the claims that agents of this company have been making and they are bull. This is akin to the lease buyout companies claiming that satellites will make towers obsolete within a few years.
Bad business in my opinion.