Comcast Starts Up Cell Tower Unit

Comcast Ventures announces formation of CTI Towers

September 28, 2011

1 Min Read

PHILADELPHIA -- Comcast Ventures, the venture capital affiliate of Comcast Corporation /quotes/zigman/89307/quotes/nls/cmcsa CMCSA +0.16% /quotes/zigman/89420/quotes/nls/cmcsk CMCSK +0.18% , announced today that it has formed a new portfolio company, CTI Towers, Inc., which will own, operate, and develop telecommunications towers throughout the United States. CTI Towers is launching with a portfolio of approximately 800 towers that were previously owned and operated by Comcast Cable subsidiaries. Headquartered in Boston, CTI Towers will actively lease tower space to wireless operators and other tenants, creating additional tower capacity for rapidly evolving businesses and technologies across the U.S.

Comcast Ventures also announced it has named Anthony F. Peduto CEO of CTI Towers. Mr. Peduto previously served as the Chief Operating Officer of Optasite, a company that engaged in the acquisition and development of telecommunications tower sites, and Vice President of the West and Northeast regions of American Tower Corporation, a leading provider of wireless and broadcast towers worldwide.

"Consumers are increasingly relying on their mobile devices and consuming high bandwidth applications, such as streaming video, requiring a next generation of wireless communications infrastructure," said Dave Zilberman, Principal at Comcast Ventures. "Newly formed CTI Towers will work with mobile operators and other service providers to improve the quality of the wireless network experience to their customers by leveraging the extensive footprint of urban and suburban towers in CTI's portfolio. With Tony Peduto's significant experience managing and developing towers and his deep understanding of the tower business, CTI is well positioned to aggressively support the build-out of new wireless networks."

Comcast Ventures

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