ATLANTA-Crown Castle International Corp. and BellSouth Corp. reached a preliminary agreement that calls for BellSouth to sublease the unused space on its 773 personal communications services towers to Crown Castle for $317 million in cash.
In addition, Crown Castle’s and BellSouth’s affiliates agreed to an exclusive three-year build-to-suit agreement.
The agreement includes BellSouth’s affiliates, BellSouth Carolinas PCS L.P. and BellSouth Personal Communications Inc. Crown Castle will be responsible for managing, maintaining and leasing the available space on the towers located in North Carolina, South Carolina, eastern Tennessee and parts of Georgia.
