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 would facilitate Crown Castle to have exclusive rights to lease and operate approximately 9,100 AT&T Inc. (NYSE:T) towers, with the average terms of the lease…