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Crown Castle and the Tower Operators: The Foundation for Next-Gen Wireless

Firstly, I think any of the 3 majors in this sector would make fine investments, I just happen to prefer CCI to AMT.

Here are a few of the main reasons:

1. Lower share base allows for increased participation in earnings, buyback-related accretion, etc.
2. Margin expansion potential for Global Signal towers
3. Superior locations of tower assets
4. Lower risk international strategy

Crown Castle and the Tower Operators: The Foundation for Next-Gen Wireless

Thanks for the comments, guys.

Nanotube: I would suggest you take a peek at the current and projected free cash flows, as well as the 10-K to gain more comfort with the capital structure and related covenants. Remember the superior revenue and expense visibility that companies like this have.

Nathan: Any data to support your theory and/or information that would help quantify this risk? CCI is more a REIT than a technology provider, so my guess is this liability would lie much more with equipment manufacturers and service providers than the tower operators.