Portfolio Includes Nearly 200 Towers on More Than 100 Sites in Key Markets
BOCA RATON, FL – March 2, 2016 – Vertical Bridge, the largest private owner and manager of wireless communication infrastructure in the U.S., today announced that it 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. The company’s geographic presence in key markets across the U.S. has also expanded significantly.
“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,” said Alex Gellman, Chief Executive Officer of Vertical Bridge. “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.”
Alpha Media Chairman, Larry Wilson commented on the announcement, “We could not have done this without the hard work and determination from the great team at Vertical Bridge. We’re proud to call them a partner of the Alpha Media family.”
George Reed of Media Services Group is the broker for Alpha Media.
About Vertical Bridge
Vertical Bridge is the largest private owner and manager of wireless communication infrastructure in the United States. The company owns, operates and manages over 42,000 tower, rooftop, billboard, utility attachment and other site locations in support of all wireless network deployments. Based in Boca Raton, Florida, Vertical Bridge was founded in 2014 by key executives from Digital Bridge Holdings, LLC and former senior officers of Global Tower Partners. The senior management team at Vertical Bridge has over 150 years of collective experience in tower infrastructure and related sectors. For more information, please visit http://www.verticalbridge.com.
About Alpha Media
Alpha Media is a radio broadcast media company that is the third largest broadcast tower company in the U.S. Headquartered in Portland, Oregon and formed by veteran radio executive, Larry Wilson, in 2009, Alpha Media owns and operates over 250 radio stations within 53 markets across the United States covering all formats including Top 40, Adult Contemporary, Spanish, Urban, News Talk, Sports, Rock, Country and more. In addition to these radio stations, Alpha Media owns the intimate performance venues, Skype Live Studio in Portland, Oregon and Alamo Lounge in San Antonio, Texas. For more information, please visit www.alphamediausa.com.