Alpha Media Sells Towers To Vertical Bridge
March 2, 2016 at 9:39 AM (PT)
VERTICAL BRIDGE, the largest private owner and manager of wireless communication infrastructure in the U.S., has completed the acquisition of nearly 200 radio broadcast towers in a two-part transaction with ALPHA MEDIA. The portfolio of assets acquired includes 64 sites from ALPHA MEDIA’s existing portfolio and 49 sites which ALPHA MEDIA recently acquired as part of its purchase of radio stations from DIGITY, LLC. Financial terms of the transaction were not disclosed.
With this acquisition, VERTICAL BRIDGE now has a total portfolio of over 42,000 towers, rooftop locations, billboards, utility infrastructure and other site locations that it owns, operates or manages.
“We are thrilled to partner with LARRY WILSON and ALPHA MEDIA, which owns and operates an admirable portfolio of assets in prime locations across top markets,” VERTICAL BRIDGE CEO ALEX GELLMAN said. “It would be challenging to site these towers today, and we feel fortunate to expand our portfolio into these areas and further strengthen VERTICAL BRIDGE’s offering to our partners. Since these towers have not yet been marketed to wireless carriers, they offer attractive new collocation opportunities. Our broadcast partners will also benefit from the height of these towers as they will provide good relocation options relative to the 600MHz auction repacking process.”
“We could not have done this without the hard work and determination from the great team at VERTICAL BRIDGE," ALPHA MEDIA Chairman LARRY WILSON said. "We’re proud to call them a partner of the ALPHA MEDIA family."