Crown Castle Reports Good Q2 and Purchases Leading Fiber Provider Lightower; Shares Fairly Valued
Crown Castle reported solid second-quarter results and announced its largest acquisition ever. As previously noted, Crown is acquiring Lightower for $7.1 billion in cash, or approximately 13.5 times adjusted EBITDA, which is roughly in line with valuation multiples of Crown’s prior fiber acquisitions. The acquisition will double Crown’s fiber footprint to about 60,000 route miles, making the combined entity one of the leading metro fiber providers in the U.S. and furthering Crown’s small cell gr...Crown Castle International is a holding company. Through its subsidiaries, the company owns, operates and leases shared communications infrastructure that is geographically dispersed throughout the U.S., including towers and other structures, such as rooftops (collectively, towers), and fiber primarily supporting small cell networks (small cells) and fiber solutions. The company's towers, fiber and small cells assets are collectively referred to herein as communications infrastructure. The company's core business is providing access, including space or capacity, to its shared communications infrastructure via long-term contracts in various forms, including lease, license, sublease and service agreements.
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