Crown Castle Inc.

The company owns, operates, and leases shared communications infrastructure across the U.S. This infrastructure includes over 40,000 towers and other structures like rooftops, approximately 105,000 small cell nodes generating revenue or under contract, and about 90,000 route miles of fiber primarily supporting small cells and fiber solutions. Historically, the company had two operating segments: Towers and Fiber, which encompassed both small cells and fiber solutions. On March 13, 2025, the company signed an agreement to sell its Fiber segment, including supporting assets and personnel, for an aggregate of $8.5 billion, subject to closing adjustments. Zayo Group Holdings Inc. is acquiring the fiber solutions business, and EQT Active Core Infrastructure fund is acquiring the small cell business. This transaction is expected to close in the first half of 2026, pending closing conditions and regulatory approvals. Due to this sale, the Fiber Business's results and net assets are presented as discontinued operations, and prior periods have been restated. The company will continue to operate the Fiber Business until the transaction closes. Following this reclassification, the company has one reportable segment: its towers operations. The core business involves providing access, including space or capacity, to its towers through long-term contracts such as lease, license, sublease, and service agreements.