The Best Business in the World


By John Celentano, Inside Towers Business Editor

Tower owners and operators, and their investors, believe “the tower business is the best business in the world.” Think about the tower business model – build a tower with capacity for multiple tenants; keep maintenance low on a passive tower structure; sign new tenants to long-term leases that add to monthly revenues and profits. Build or buy more towers, then repeat. Sure, this is an oversimplification, but you get the idea. The tower business model is very attractive financially.

More importantly, towers are at the nexus of new 5G deployments worldwide. Most of the initial deployments involve low-band and mid-band frequencies to achieve wide area population coverage from macro cells on towers. This means demand for space on towers likely will remain at a high level over the next five to seven years.

In the Intelligence Q2 2021 issue, released this week, our lead article, “Inside the Tower Business” looks at key aspects of the tower business model along with comparisons between North American and international markets.

In a separate article, we discuss how DISH Network is establishing itself as the fourth U.S. national mobile network operator. In the process, it is entering in a mature wireless market and competing with big, deep pocketed incumbent MNOs. Relying on a new Open RAN wireless network architecture and a differentiated business model, DISH is confident in its plans and prides itself in being the disruptor as it was when it entered the pay TV business.

Titled “DISH Network: A Strategic Analysis,” the article dives deep into the company’s opportunities and challenges as it stands on the threshold of launching a greenfield 5G Open RAN network.

This issue includes updates to our proprietary Wireless Infrastructure Index with current numbers along with notable Tower Transactions that took place through Q2 to date. Plus, we added some color on what goes into compiling the Index, and how to interpret it.

The issue also features contributions from four knowledgeable, highly regarded individuals.

Michael DeMita of Tower Capital Advisors, in our M&A Advisory, talks about how the wireless infrastructure business has become a seller’s market.

Top-ranked analyst Colby Synesael of Cowen shares his views on trends and outlook for towers, small cells, and data centers in our Investor Perspective piece.

In the D.C Watch section, Rod Carter and Mike Long, telecom attorneys with Husch Blackwell, discuss the regulatory “tools” available in the Infrastructure Investment and Jobs Act.

A jam-packed issue, for sure, with actionable market intelligence and analysis.

Learn more about Intelligence by Inside Towers, or subscribe at:

Thanks to our sponsors, Alpina Capital, Drachman M&A Co., and Husch Blackwell.

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