Cincinnati Bell to sell cell towers for $100 million

Business
Nov 18, 2009
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CINCINNATI — Cincinnati Bell Inc. has agreed to sell 196 of its wireless communications towers to American Tower Corp. for $100 million, the companies said Wednesday, Nov. 18.

The towers are located primarily in Ohio and Kentucky. Cincinnati Bell will lease space on all 196 towers, under the sale agreement. American Tower, based in Boston, will own and operate the towers.

Cincinnati Bell said the towers are being sold because they are not part of its core business assets, and to improve the company’s liquidity. The sale is to close on or about Dec. 30, subject to closing adjustments.

Cincinnati Bell provides communication services in the Dayton and Cincinnati area markets.

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