Uniti Group Inc. Completes Sale-Leaseback and Fiber Acquisition with CableSouth Media, LLC
LITTLE ROCK, Ark., Oct. 09, 2018 (GLOBE NEWSWIRE) -- Uniti Group Inc. (“Uniti”) (Nasdaq: UNIT) announced today the closing of its previously announced sale-leaseback and fiber acquisition with CableSouth Media, LLC (“CableSouth”). At closing, the Company acquired approximately 43,000 fiber strand miles located in Arkansas, Louisiana, and Mississippi, of which 34,000 fiber strand miles will be leased back to CableSouth on a triple net basis. Uniti will have exclusive use of 9,000 fiber strand miles, which are adjacent to Uniti Fiber’s southern network footprint. Total consideration was $31 million.
Uniti, an internally managed real estate investment trust, is engaged in the acquisition and construction of mission critical communications infrastructure, and is a leading provider of wireless infrastructure solutions for the communications industry. As of June 30, 2018, Uniti owns 5.4 million fiber strand miles, approximately 770 wireless towers, and other communications real estate throughout the United States and Latin America. Additional information about Uniti can be found on its website at www.uniti.com.
INVESTOR AND MEDIA CONTACTS:
Mark A. Wallace, 501-850-0866
Executive Vice President, Chief Financial Officer & Treasurer
Bill DiTullio, 501-850-0872
Director, Finance and Investor Relations
Source: Uniti Group Inc.