Zayo Adds 90,000 Metro Fiber Route Miles in Crown Castle Deal

Zayo completed its acquisition of Crown Castle’s Fiber Solutions business, adding approximately 90,000 metro-dense route miles and 40,000 on-net enterprise locations to its North American fiber footprint. The deal expands Zayo’s metro and regional reach as AI, cloud, carrier, and enterprise customers push more traffic across data centers, cloud platforms, edge sites, and high-capacity interconnection hubs.  

The transaction gives Zayo a larger combination of long-haul backbone capacity and dense metro access in key U.S. markets. Zayo said the combined network now spans 224,000 route miles and 32 million fiber miles across North America, with connectivity into more than 400 markets globally.  

Crown Castle separately closed the sale of its Fiber Solutions business to Zayo and its Small Cell business to Arium Networks, an EQT Active Core Infrastructure fund company, for $8.5 billion, or about $8.4 billion net of preliminary adjustments. Crown Castle said it expects to use proceeds to repurchase $1.0 billion of shares and reduce outstanding debt by more than $7.0 billion.  

• Zayo adds roughly 90,000 route miles from Crown Castle’s fiber assets.

• Zayo’s network now totals about 224,000 North American route miles.

• The acquired assets add about 40,000 on-net enterprise locations.

• The transaction marks Zayo’s 50th acquisition and its largest to date.

• Zayo and Arium Networks entered a long-term commercial agreement for Zayo to provide fiber to Arium Networks.

• Crown Castle now positions itself as a U.S.-focused pure-play tower company with about 40,000 towers.

• Crown Castle updated its 2026 outlook, citing earlier receipt of sale proceeds, a $40 million decrease in expected interest expense, and a $10 million increase in expected interest income versus its April 22 outlook.  

“As AI is increasingly embedded in the global economy—bringing with it unprecedented connectivity needs—high-capacity fiber infrastructure has become indispensable,” said Steve M. Smith, CEO of Zayo. “This acquisition expands our ability to deliver capacity where it matters most and strengthens the critical fiber infrastructure powering today’s AI, cloud, and enterprise ecosystems.”

For its part, Crown Castle confirmed the close of the transaction, which includes the sale of its Fiber Solutions business to Zayo and its Small Cell business to Arium Networks, an EQT Active Core Infrastructure fund company, for a combined $8.5 billion, or approximately $8.4 billion net of adjustments. The company said it will use proceeds to repurchase $1.0 billion of shares and reduce outstanding debt by more than $7.0 billion. With the divestiture, Crown Castle transitions to a U.S.-focused, publicly traded pure-play tower operator.

“With the completion of the transactions, Crown Castle is now the only U.S. focused, large publicly traded pure-play tower company and is well positioned to become a best-in-class operator in the world’s strongest wireless market,” said Chris Hillabrant, President and CEO of Crown Castle.

🌐 Analysis: The deal separates two infrastructure strategies: Zayo doubles down on fiber scale for AI, cloud, carrier, and enterprise connectivity, while Crown Castle exits fiber and small cells to concentrate on tower economics, debt reduction, and capital returns. The transaction also highlights how AI infrastructure demand now depends not only on hyperscale data centers, but also on dense metro fiber needed to support distributed inference, enterprise cloud access, and data center interconnection.

🌐 We’re tracking the latest developments in digital infrastructure. Follow our ongoing coverage at: https://convergedigest.com/category/data-centers/