---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-228402"
form_type: "8-K"
ticker: "VZ"
cik: "0000732712"
company_name: "VERIZON COMMUNICATIONS INC"
filed_at: "2024-09-30T23:59:59+00:00"
generated_at: "2026-05-31T01:00:27.170082+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Verizon agrees to $3.3B tower sale-leaseback of 6,339 towers to Vertical Bridge

## Summary
- Vertical Bridge will lease, operate and manage 6,339 Verizon towers in all 50 states for ~$3.3B total.
- Upfront cash proceeds of ~$2.8B; Verizon will lease back capacity for 10-year term, extendable to 50 years.
- Transaction expected to close by end of 2024, subject to customary conditions.
- Verizon Chairman and CEO Hans Vestberg says deal provides financial flexibility and reduces tower costs.
- Vertical Bridge, backed by DigitalBridge and CDPQ, will become a leading US tower operator.

## SEC filing metadata
- accession: 0001193125-24-228402
- form_type: 8-K
- ticker: VZ
- cik: 0000732712
- company_name: VERIZON COMMUNICATIONS INC
- filed_at: 2024-09-30T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/732712/000119312524228402/0001193125-24-228402-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/732712/000119312524228402/d889681d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-228402
- JSON: https://secwatch.observer/filing/0001193125-24-228402.json
- Plain text: https://secwatch.observer/filing/0001193125-24-228402.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.