{
  "docId": "019dd923-622b-71dc-a6dc-0da390d7ba55",
  "docSlug": "1861656eaa18",
  "documentTitle": "Crown Castle International Corp. (CCI)",
  "authorId": "11_Corvex",
  "authorName": "Corvex Management",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2014-10-14 00:00:00",
  "orientation": "portrait",
  "aspectRatio": 0.77272725,
  "pageNumber": 36,
  "pageCount": 44,
  "prevPage": 35,
  "nextPage": 37,
  "slideType": "valuation_table",
  "function": "compare_peers",
  "density": "balanced",
  "nDataPoints": 6,
  "notes": null,
  "elementsJson": [
    "headline_text",
    "bullet_list",
    "bar_chart_grouped"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6dc-0da390d7ba55/36",
  "deckHref": "/decks/019dd923-622b-71dc-a6dc-0da390d7ba55",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6dc-0da390d7ba55.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-0da390d7ba55#slide-36",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "CCI's trades at a ~1.5x-4.0x discount to AMT and SBAC on Consensus 2014E EBITDA, and a ~0.5x-2.5x discount on Consensus 2015E EBITDA",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd952-ee37-76cb-8474-1a8caac38bb2",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.45,
        "w": 0.64,
        "x": 0.18,
        "y": 0.33
      },
      "kind": "chart",
      "text": "Consensus EBITDA Multiples",
      "attrs": null,
      "subkind": "bar-grouped",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "29c002d4-f294-4e0c-822d-798ebf0fe952",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "EBITDA multiple: 1.5x-4.0x",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd952-ee37-76cb-8474-1c83726ff6bf",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.86,
        "x": 0.067,
        "y": 0.21
      },
      "kind": "paragraph",
      "text": "CCI's trades at a ~1.5x-4.0x discount to AMT and SBAC on Consensus 2014E EBITDA, and a ~0.5x-2.5x discount on Consensus 2015E EBITDA",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "2f009772-f6e9-4dc8-a5a8-f6474b21336d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.1,
        "x": 0.067,
        "y": 0.91
      },
      "kind": "source-note",
      "text": "Source: Bloomberg.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9e62b90f-3c7c-44b2-8a46-c32efaa730b6",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.35,
        "x": 0.067,
        "y": 0.125
      },
      "kind": "title",
      "text": "Valuation Comparison (cont'd)",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a02ef480-802a-4696-9e0e-d7d2450d7ddd",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "comparison_frame",
      "slug": null,
      "matchId": "77374d7b-e831-453b-9f99-827964055cbe",
      "evidence": "Comparing valuation multiples across peer group",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 44,
      "from": 34,
      "beatId": "a83f55d0-c1eb-43ae-b604-1b9e028c3d19",
      "arcName": "The Consultant's Gambit",
      "arcSlug": "consultants-gambit",
      "beatName": "Impact & Next Steps",
      "beatSlug": "consultants-gambit-impact-next-steps",
      "evidence": "The document concludes with a call to action and provides additional data and analysis in the appendix",
      "position": 4,
      "confidence": 0.8,
      "parentBeatName": "Resolution",
      "parentBeatSlug": "resolution"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}