{
  "docId": "019dd923-622c-750b-8b9c-80e6d77f0276",
  "docSlug": "14f44cdb0575",
  "documentTitle": "Crown Castle International Corp. (CCI)",
  "authorId": "02_Elliott_Management",
  "authorName": "Elliott",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2020-07-06 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.4444444,
  "pageNumber": 18,
  "pageCount": 67,
  "prevPage": 17,
  "nextPage": 19,
  "slideType": "comparison_table",
  "function": "compare_peers",
  "density": "overcrowded",
  "nDataPoints": 24,
  "notes": "The slide uses donut charts to show the shift in revenue mix for three major tower companies.",
  "elementsJson": [
    "headline_text",
    "paragraph",
    "donut_chart",
    "quote_block",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9c-80e6d77f0276/18",
  "deckHref": "/decks/019dd923-622c-750b-8b9c-80e6d77f0276",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9c-80e6d77f0276.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-80e6d77f0276#slide-18",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "While American Tower and SBA decided to remain pure-play tower businesses and expand into international towers, Crown Castle alone decided to venture away from towers and into fiber",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd952-ee36-760b-92a3-55f2e2cc3acd",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.55,
        "w": 0.5,
        "x": 0.2,
        "y": 0.3
      },
      "kind": "chart",
      "text": "Revenue composition donut charts for 3 companies across 4 time periods",
      "attrs": null,
      "subkind": "donut",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "685b0aea-2189-4676-9f84-4c5773d26048",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "revenue composition",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd952-ee36-760b-92a3-5e98d96d4882",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.9,
        "x": 0.05,
        "y": 0.16
      },
      "kind": "paragraph",
      "text": "Ten years ago, the \"Big Three\" owned comparable portfolios of U.S. tower assets. While American Tower and SBA decided to remain pure-play tower businesses and expand into international towers, Crown Castle alone decided to venture away from towers and into fiber",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "119f6858-95df-4d76-a186-ad2f40f1f934",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.55,
        "w": 0.2,
        "x": 0.75,
        "y": 0.3
      },
      "kind": "quote",
      "text": "\"Well, I think they made an effort to move into the international market about the time we made that decision to move into the small cell market...\"",
      "attrs": null,
      "subkind": "pull-quote",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "8ee37066-06ac-4cab-9298-a78c38fd35e2",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "“Well, I think they made an effort to move into the international market about the time we made that decision to move into the small cell market. We chose the U.S. business being the best for wireless infrastructure. They, I think, looked out and saw that the tower business is one of the best businesses ever and they would like to take that to different geographies. I think both of those decisions are really good decisions.” — CEO Jay Brown, November 2017",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd952-ee36-760b-92a3-5b888c012dfa",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.4,
        "x": 0.05,
        "y": 0.95
      },
      "kind": "source-note",
      "text": "Source: Company public filings. \"Today\" represents LQA Q1'20.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3b0bdc66-93d0-49ca-bfa3-0ec04258f89d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.7,
        "x": 0.05,
        "y": 0.05
      },
      "kind": "title",
      "text": "With Consistent Cash Flow and a Mature Industry, the \"Big Three\" Pursued New Areas of Growth",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "1a06a43f-5ba0-4446-8437-a2f538b82c6a",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Before-After-Bridge",
      "slug": "before-after-bridge",
      "agent": "Storyteller",
      "layer": "slide",
      "matchId": "18020708-32bd-4fb5-8d55-df635bfc60f4",
      "evidence": "With Consistent Cash Flow and a Mature Industry, the “Big Three” Pursued New Areas of Growth",
      "confidence": 0.7
    }
  ],
  "frameworks": [
    {
      "name": "comparison-frame",
      "slug": null,
      "matchId": "a3ac3b3e-6d2f-47df-b6f7-6da63f226a4c",
      "evidence": "Comparing strategic choices of three companies over time using consistent metrics.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 38,
      "from": 11,
      "beatId": "c051c5c5-ece4-46e8-bf57-9a7cbd17ebc3",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Agitate",
      "beatSlug": "problem-agitate-solution-agitate-make-it-worse",
      "evidence": "Slides 11-38 highlight the issues with Crown Castle's fiber business strategy",
      "position": 1,
      "confidence": 0.9,
      "parentBeatName": "Development",
      "parentBeatSlug": "development"
    }
  ],
  "loops": [
    {
      "to": 18,
      "from": 10,
      "name": "Before After",
      "slug": "21-before-after",
      "bestFor": "Product demos, process improvements, ROI justification",
      "matchId": "1b02ef28-0a46-48fc-881b-3b6db46201b5",
      "evidence": "Slides 10-18 present a before-and-after comparison of Crown Castle's potential",
      "position": 1,
      "objective": "Show the potential for improvement",
      "structure": "The Old Way (Pain) -> The Moment of Change -> The New Way (Glory) -> The Measurable Delta",
      "confidence": 0.7,
      "description": "Show the dramatic contrast between the old way and the new way through side-by-side comparison"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}