{
  "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": 29,
  "pageCount": 67,
  "prevPage": 28,
  "nextPage": 30,
  "slideType": "comparison_table",
  "function": "compare_peers",
  "density": "balanced",
  "nDataPoints": 12,
  "notes": "The slide uses a checkmark column to visually reinforce the superiority of the tower business model across all listed KPIs.",
  "elementsJson": [
    "headline_text",
    "subtitle_text",
    "comparison_table",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9c-80e6d77f0276/29",
  "deckHref": "/decks/019dd923-622c-750b-8b9c-80e6d77f0276",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9c-80e6d77f0276.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-80e6d77f0276#slide-29",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "While fiber businesses can be excellent investments, towers are simply superior businesses. Crown Castle’s strategic choice has been to diversify away from the “best business ever”",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd952-ee36-760b-92a4-15d7b4410fda",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "EBITDA margin: 64%",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd952-ee36-760b-92a4-1a6f910a4e24",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.9,
        "x": 0.05,
        "y": 0.12
      },
      "kind": "paragraph",
      "text": "While fiber businesses can be excellent investments, towers are simply superior businesses. Crown Castle's strategic choice has been to diversify away from the \"best business ever\"",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0695b10c-577f-4849-b425-b9e2e2eb599f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.6,
        "x": 0.05,
        "y": 0.92
      },
      "kind": "source-note",
      "text": "Source: Company filings. Market data from Bloomberg and CapitalIQ as of June 29, 2020. Financial statistics as of LTM Q1'20.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "83148f17-68f5-4cc8-88c8-bd9796989203",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.65,
        "w": 0.9,
        "x": 0.05,
        "y": 0.23
      },
      "kind": "table",
      "text": "Comparison table of 7 KPIs between Towers and Fiber",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "53fb1a33-3d3a-4912-81a2-3e971c94c00b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.4,
        "x": 0.05,
        "y": 0.06
      },
      "kind": "title",
      "text": "Towers vs. Fiber: KPI Comparison",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a1034549-e03d-4b66-8fdf-f20aaf591341",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "comparison_frame",
      "slug": null,
      "matchId": "f473f9d0-6eb3-4fa0-b3fe-7b2c2b9a20c3",
      "evidence": "Direct comparison of two business segments across multiple KPIs to argue for the superiority of one.",
      "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": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}