Wireless Industry News » CTI TOWERS ACQUIRES TOWER PORTFOLIO FROM MEDIACOM
CTI TOWERS ACQUIRES TOWER PORTFOLIO FROM MEDIACOM
Franklin, MA – CTI Towers announced it has agreed to acquire the tower portfolio of Mediacom Communications, which is expected to add over 360 towers to the company’s existing portfolio. With the acquisition, CTI now owns or manages over 1,000 wireless communication towers across the United States. Mediacom represents the third tower portfolio of cable television operators for CTI as the company continues its growth to become one of the nation’s largest privately-owned tower companies.
“The Mediacom tower acquisition represents CTI’s largest individual transaction since we were founded in 2011,” stated Tony Peduto, CTI’s chief executive officer. CTI has demonstrated it is best positioned to lease tower space to the wireless carriers, while protecting the interests of the cable operators. “Our cable partners must be able to operate their systems without interruption or interference, and CTI works closely with the field representatives of our cable partners to ensure wireless tenants are able to install their equipment in the most efficient manner,” Peduto added.
With the increasing demand for data by customers, the wireless carriers are looking for new locations to handle that demand while adding capacity in a cost-efficient manner. These locations include new tower sites along with small-cell deployments.
“Zoning issues and the timing to get new locations are the biggest challenges carriers face in giving their customers the services they are demanding today, while building the networks to handle the future services such as 5G, including coverage for autonomous vehicles. Customers want all the amenities available to them, but few desire a tower built in their neighborhoods to facilitate those amenities,” stated Peduto. “The Mediacom towers are constructed and ready for collocation, and we are pleased to offer an additional group of assets to our customers.”
Comcast Ventures, the venture capital arm of Comcast Corporation, founded CTI Towers in 2011 and remains the primary equity investor. “We’re excited about the Mediacom transaction and CTI’s continued strong business growth,” said Dave Zilberman, Managing Director at Comcast Ventures. “This third tower portfolio acquisition is significant in solidifying CTI Towers as an industry leader.”
"Transitioning Mediacom's tower portfolio to CTI will result in a mutually beneficial transaction for both parties," said John Pascarelli, Mediacom's Executive Vice President of Operations. "CTI will be able to maximize the asset value of the towers by attracting more users without any disruption to our existing network functionality."
About CTI Towers: Based in Franklin, MA, the company was founded in 2011 to provide wireless carriers an opportunity to further continue network deployment without having to go through lengthy zoning processes to have towers constructed. The CTI Towers portfolio allows for immediate collocation and expanded wireless coverage and capacity on existing towers. The company serves the national wireless carriers, regional carriers, utility companies, along with state and federal governmental agencies. CTI Towers is a Comcast Ventures portfolio company. For more, go to www.ctitowers.com
About Mediacom Communications: Mediacom Communications Corporation is the 5th largest cable operator in the U.S. serving almost 1.4 million customers in markets primarily in the Midwest and Southeast. Mediacom offers a wide array of information, communications and entertainment services to households and businesses, including video, high-speed data, phone, and home security and automation. Through Mediacom Business, the company provides innovative broadband solutions to commercial and public sector customers of all sizes, and sells advertising and production services under the OnMedia brand. More information about Mediacom is available at www.mediacomcable.com.
Contact for CTI Towers: Megan Bertino, firstname.lastname@example.org, 508-440-5780 x241