Cequel sells tower business for $1b.(THIS JUST IN)(SBA Communications Corp.'s acquisition)(Brief article)
Multichannel News, March, 2006
ST. LOUIS -- Cequel III, the St. Louis-based investment firm headed by cable veteran Jerry Kent, last week said it agreed to sell its communications tower business AAT Communications Inc., to SBA Communications Corp. for $1 billion in cash and stock in a deal expected to close soon.
AAT is the fifth largest independent owner of such sites in the United States. Since investing in AAT in 2002, Cequel has expanded its portfolio from 300 towers to nearly 2,000.
Cequel said it became increasingly difficult to acquire and build new towers and that, through its Cebridge Connection cable subsidiary, wanted to focus more on that business.
Cequel has done two large deals in recent months, agreeing to buy 940,000 subscribers from Cox...
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