Where Elliott Management’s Attack on Crown Castle Small Cell Strategy Hits and Misses

We reviewed the Elliott Management slickly produced attack on Crown Castle ($CCI). In short, Elliott believes that CCI has underperformed its peers, American Tower (AMT) and SBA Communications (SBAC). While the underperformance is clear, I also think that Elliott’s analysis omits to give proper credence to the opportunity that fiber/small cells may provide to Crown Castle that its peers will miss.

Are Three Towers Really Necessary?

Zoning Board Questions Whether They Should Be Forced to Allow Three Towers Within 300′ of Each Other First- start by reading this news article about how the Cape Elizabeth, ME planners are dealing with a request from Tower Specialists to build a new tower near an existing Crown Castle tower that has already been slated […]

Desperate to Get Back at the Tower Companies: The Verizon, AT&T, and Tillman Infrastructure JV

Yesterday, in a surprise press release by Verizon, Verizon indicated that it had formed a joint venture with AT&T and Tillman Infrastructure to develop “hundreds” of communication towers with “the potential for significantly more new site locations in the future”.  Tillman Infrastructure is relatively new to the US- but owns a few thousand towers in […]

What’s Happened So Far in Wireless in 2017?

As we look back over the first half of 2017, there has been much non-activity on the merger front. Many people (myself included) expected greater merger and acquisition activity but other than a few fiber related transactions, nothing material has transpired. Sprint and T-Mobile are still separate companies, and DISH has not merged with or […]

Research In Progress- Sprint vs. T-Mobile Site Overlap

We are currently working on a bespoke research project for a client where we examine the overlap between Sprint and T-Mobile cell sites.  The merger talks seem to have stalled while Softbank talks to Comcast, Charter, Warren Buffett, and anyone who will listen about merging or investing.   Nonetheless, there is still investor interest in […]

AT&T Wins FirstNet but TowerCos are the Real Winners

FirstNet Award to AT&T Confirmed: Checks Confirm Amendment Activity before Official Announcement Tickers: T, AMT, CCI, SBAC Tags: Ken Schmidt, Wireless Infrastructure In Examining FirstNet Assumptions 12/9/2016, we reviewed the likelihood that AT&T would win the FirstNet RFP and the impact on TowerCos, Equipment OEMs, and FiberCos. As the time, the FirstNet award was stalled […]