Telecom tower company Crown Castle announced an agreement to sell its Fiber segment for $8.5 billion.
EQT Active Core Infrastructure fund will acquire the small cells business, while Zayo Group Holdings will take over the fiber solutions business.
The transaction is expected to close in the first half of 2026, pending regulatory approvals.
Proceeds will be used to repay debt and fund a $3 billion share repurchase program.
This move aligns with Crown Castle’s strategy to become a pure-play U.S. tower company, enhancing shareholder value and focusing on the growing demand for wireless infrastructure.
Crown Castle is targeting site rental revenue of $3.987 billion – $4.032 billion in 2025. Crown Castle has reported 3 percent drop in site rental revenue to $6.358 billion in 2024.
Crown Castle said capital expenditures during 2024 were $1.2 billion. Discretionary capital expenditures of $1.1 billion included approximately $1.0 billion attributable to Fiber and $100 million attributable to Towers. Crown Castle’s 2024 capital expenditures represented a $202 million decrease compared to Capex in 2023, including a decrease of $61 million in Towers and $130 million in Fiber.
Baburajan Kizhakedath