We believe American Tower (AMT) remains in a substantially better position than Crown Castle (CCI) as the tower industry faces a final speed bump before renewed stability. Towers are facing an interesting conundrum in which the extreme stability of their internal business model has been repeatedly rocked by structural changes in the industry vertical. At this point, the impacts of T-Mobile’s (TMUS) acquisition of Sprint are mostly known, but similar disruptions remain ongoing from Dish’s sale to EchoStar (S ...