Richland Towers is adding to its portfolio.
The tower company has acquired seven of Clear Channel’s towers in five markets: Cleveland, Columbia, S.C., Cedar Rapids, Iowa, West Palm Beach, Fla. and Prospect, Conn.
The privately-owned Richland specializes in tall towers for broadcast and wireless communications. Company EVP Matthew Bray says the deal allows Richland to both reach more customers and serve new broadcast markets.
Last month, Richland purchased a Clear Channel tower in Shaw Butte, Ariz., its first property in the Phoenix market.
Contract details for this most recent deal were not released.