Document
false0001051470 0001051470 2020-11-23 2020-11-23 0001051470 exch:XNYS 2020-11-23 2020-11-23


 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 23, 2020
Crown Castle International Corp.
(Exact name of registrant as specified in its charter)
 
 
 
 
 
Delaware
 
001-16441
 
76-0470458
(State or other jurisdiction
of incorporation)
 
(Commission File Number)
 
(IRS Employer Identification No.)

1220 Augusta Drive, Suite 600, Houston, Texas 77057-2261
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (713) 570-3000
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock, $0.01 par value
CCI
New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
 





ITEM 7.01 — REGULATION FD DISCLOSURE

On November 16, 2020, Crown Castle International Corp. ("Crown Castle") and DISH Network Corporation ("DISH") announced that they entered into a long-term agreement pursuant to which Crown Castle will lease DISH space on up to 20,000 towers ("Master Lease Agreement"). Among other things, pursuant to the terms and conditions of the Master Lease Agreement, Crown Castle is entitled to receive minimum contracted payments over an approximately 15-year initial term, including if space on less than 20,000 towers is leased by DISH, with other terms of the lease arrangement, including limited termination rights, renewal options, and contractual escalations, generally consistent with the terms of Crown Castle’s other long-term tower tenant contracts. The November 16, 2020 press release announcing the agreement is furnished herewith as Exhibit 99.1.

The above disclosure does not purport to be a complete statement of the parties’ rights and obligations under the Master Lease Agreement. 


ITEM 9.01 — FINANCIAL STATEMENTS AND EXHIBITS

(d) Exhibits

Exhibit Index

Exhibit No.
 
Description
99.1
 
104
 
Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document

The information in Item 7.01 and Exhibit 99.1 attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended ("Exchange Act"), or otherwise subject to the liabilities of that section, nor shall such information and exhibit be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.


Cautionary Language Regarding Forward Looking Statements

This Current Report on Form 8-K, including Exhibit 99.1 furnished herewith, contain forward-looking statements that are based on management's current expectations. Such statements include plans, projections and estimates regarding amounts to be received under the Master Lease Agreement and the potential benefits our assets may provide. Such forward-looking statements are subject to certain risks, uncertainties and assumptions, including prevailing market conditions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expected. More information about potential risks that could affect Crown Castle and its results is included in Crown Castle's filings with the Securities and Exchange Commission. The term "including," and any variation thereof, means "including, without limitation."










SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
 
 
 
 
CROWN CASTLE INTERNATIONAL CORP. 
 
 
By:  
/s/ Kenneth J. Simon
 
 
 
Name:  
Kenneth J. Simon
 
 
 
Title:
Executive Vice President
and General Counsel 
 
Date: November 23, 2020



Exhibit
Exhibit 99.1

https://cdn.kscope.io/e8a910e4130ee19a7a143f221720de0f-ccmasterbrandlogorgba05.jpg
 
November 16, 2020
 

DISH Signs Multi-Year Anchor Tenant Tower Agreement
with Crown Castle

November 16, 2020 — ENGLEWOOD, COLO. & HOUSTON — DISH and Crown Castle today announced a long-term agreement through which Crown Castle will lease DISH space on up to 20,000 communication towers. As part of the agreement, DISH will receive certain fiber transport services and also have the option to utilize Crown Castle for pre-construction services. The agreement encompasses leases on towers located nationwide, helping DISH facilitate its buildout of the first open, standalone and virtualized 5G network in the U.S.  
Crown Castle is the first infrastructure partnership DISH has announced. Over the past several months, DISH has made several wireless vendor announcements, including software, core, BSS/OSS, and 5G radios. These agreements provide a clear path toward DISH's rollout of a nationwide 5G network.
"The announcement of Crown Castle as our first tower partner marks an important milestone for DISH as we set our sights on building a first of its kind 5G network in the U.S.," said Dave Mayo, DISH Executive Vice President of Network Development. "Crown Castle brings the experience and broad tower portfolio we need, from major markets to more rural areas, to help DISH bring to life the promise of our standalone, nationwide 5G network."
"We are excited to establish this long-term strategic relationship with DISH, and we look forward to supporting their nationwide 5G network deployment for years to come," stated Jay Brown, Crown Castle's Chief Executive Officer. "DISH's 5G network buildout marks an important development for the industry, and we believe our ability to offer towers, small cells and fiber solutions at scale provides us the best opportunity to deliver value as we support their wireless infrastructure needs."
ABOUT DISH
DISH Network Corporation is a connectivity company. Since 1980, it has served as a disruptive force, driving innovation and value on behalf of consumers. Through its subsidiaries, the company provides television entertainment and award-winning technology to millions of customers with its satellite DISH TV and streaming SLING TV services. In 2020, the company became a nationwide U.S. wireless carrier through the acquisition of Boost Mobile. DISH continues to innovate in wireless, building the nation's first cloud native, OpenRAN-based 5G broadband network. DISH Network Corporation (NASDAQ: DISH) is a Fortune 250 company.






ABOUT CROWN CASTLE
Crown Castle International Corp. (NYSE: CCI) owns, operates and leases more than 40,000 cell towers and approximately 80,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service – bringing information, ideas and innovations to the people and businesses that need them. For more information on Crown Castle, please visit www.crowncastle.com.
MEDIA CONTACTS
DISH: Caroline Krause; Caroline.Krause@dish.com
Crown Castle: Andrea Bradford; Andrea.Bradford@crowncastle.com