[November 18, 2009] American Tower to acquire wireless towers from Cincinnati Bell Tweet Nov 18, 2009 (CORPORATE IT UPDATE via COMTEX) -- American Tower Corporation (NYSE:AMT) and integrated communications solutions provider Cincinnati Bell Inc (NYSE:CBB) announced on Wednesday that American Tower has entered into a definitive agreement to acquire 196 of Cincinnati Bell's wireless communications towers. The value of the agreement is estimated at USD100m. The towers are located primarily in Ohio and Kentucky and currently average 2.1 tenants per tower. Cincinnati Bell will remain a tenant on all 196 towers pursuant to a long-term Master Lease Agreement. The transaction is a continuation of Cincinnati Bell's strategy to improve liquidity and unlock shareholder value, the company said. The acquisition is expected to close on or about 30 December 2009 and the acquisition's consideration is subject to certain closing adjustments. American Tower Corporation is an independent owner, operator and developer of broadcast and wireless communications sites. Comments on this story may be sent to [email protected] [ Back To TMCnet.com's Homepage ]