AT&T Strikes $4.85 Billion Tower Deal With Crown Castle

AT&T Inc. (NYSE:T) agreed to lease or sell 9,700 of its wireless towers to Crown Castle International Corp. (NYSE:CCI) for $4.85 billion.

The deal is expected to bolster the largest U.S. phone company’s balance sheet.

AT&T Terms Of The Deal

Under the terms, AT&T Inc. (NYSE:T) would lease the rights to roughly 9,100 of its company-owned wireless towers to Crown Castle International Corp. (NYSE:CCI), with the latter purchasing about 600 AT&T towers.

The terms of the lease...