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Uniti is a REIT with over 110,000 route miles of fiber in the U.S.?with its footprint primarily in the southeastern part of the country?and over 800 towers in the U.S. and Latin America. Uniti focuses on three business segments: Leasing, Fiber, and Towers. Leasing currently makes up about two thirds of total revenue and consists almost entirely of Uniti's master lease agreement with Windstream. Uniti was spun out of Windstream in 2015 with a substantial portion of Windstream's network assets, and it immediately leased the entire portfolio back for Windstream's exclusive use. Other Leasing revenue stems from sale-leaseback transactions with other fiber holders. Uniti generates Fiber and Tower revenue by leasing dark and lit fiber and tower space to carriers and other enterprises.
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