Crown Castle Sells Fiber Business for $8.5 Billion, Announces Dividend Cut

The sale is part of a strategic shift to reduce debt and fund a $3 billion stock buyback program.

Crown Castle sold its Fiber segment, including small cells and fiber solutions, to EQT Active Core Infrastructure fund and Zayo Group Holdings for $8.5 billion.
The company plans to use the proceeds to pay down $24 billion in debt and launch a $3 billion stock repurchase initiative.
Crown Castle reduced its annual dividend from $6.26 to $4.25 per share, with plans to realign it to 75–80% of adjusted funds from operations (AFFO) after the sale closes.
The Fiber segment sale is expected to close in the first half of 2026, pending regulatory approvals.
Crown Castle reported a $3.9 billion net loss in 2024, primarily due to a $5 billion goodwill impairment charge in its Fiber segment.