American Tower and Verizon Announce New Long-Term Agreement

American Tower Corporation (NYSE: AMT) and Verizon Communications Inc. (NYSE, NASDAQ: VZ) announced yesterday that they have signed a new overarching lease agreement, facilitating Verizon’s on-going 5G network deployment across American Tower’s U.S. portfolio of communications sites. The agreement provides a simplified and efficient leasing process through a contractual framework that will drive mutual growth and value over a multi-year period.

"This agreement represents another key milestone and an extension of our decades-long strategic partnership with Verizon," said Steve Vondran, President – U.S. Tower Division, American Tower Corporation. "We look forward to supporting Verizon as they continue their accelerated and efficient 5G network build-out by utilizing our distributed nationwide portfolio of high-quality communications sites."