Comcast uses cable to connect to its customers, but the MSO owns a bunch of towers to receive signals and link its systems. Now its venture capital subsidiary, Comcast Ventures, is launching a tower company to handle leasing to various wireless companies and other tenants.
The new portfolio company is called CTI Towers. Headquartered in Boston, it will be headed by CEO Anthony Peduto. He previously served as CEO 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.
CTI Towers is launching with a portfolio of approximately 800 towers that were previously owned and operated by Comcast Cable subsidiaries.
“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.”
“As a new entrant with an extensive portfolio of un-leased tower space, CTI Towers will offer a coherent solution for mobile operators that are looking for suppliers offering an extensive regional portfolio of sites to improve their coverage. CTI Towers will expeditiously cater to customer requirements with an experienced team of dedicated tower professionals,” said Peduto.