BOCA RATON, FLA. — It was formed in December 2023. Since then, Tony Peduto has risen to Chief Executive Officer and has actively led a Sacramento-area broadcast tower company as it builds out the digital infrastructure required to support wireless networks, artificial intelligence (AI) and cloud services.
Now, GTC Towers (formerly Grande Towers) is growing its asset stable by completing a deal with the company founded by the late Ed Christian.
“Several income producing towers” owned until today by Saga Communications are now the property of Peduto-led GTC, thanks to a transaction that saw Michael J. Bergner of Bergner & Co. serve as the exclusive broker in this deal.
Specifically, 22 towers were sold for $10.7 million, Streamline Publishing’s Radio Ink has confirmed. Saga will continue using the facilities without lease payments.
“Income producing towers remain in very high demand with multiples that far exceed radio station values,” Bergner said. “All radio companies should monetize their towers. It is business malpractice not to.”
Bergner has emerged as a tower deal broker of choice, if you will. In the last 18 months, he’s driven deals involving Beasley Media Group, Seven Mountains Media, SummitMedia, Withers Broadcasting and Forever Communications.
And, buyers have ranged from Boca Raton-based SBA Communications and Delray Beach-headquartered Vertical Bridge to internationally known companies including Crown Castle and American Tower Corp. Add GTC Towers to the mix, given its rapid growth over less than two years.
GTC is co-founded by Clarence Cook and Jason Peduto, and is backed by Norwest Venture Partners. Among the states where it owns towers are Florida, Georgia, Illinois, New Jersey, North Carolina, Oklahoma and South Carolina.
Meanwhile, Tony Peduto’s experience includes the founding of CTI Towers, leading the company through two sales in his 10 years there, before “retiring” in 2022. Prior to CTI Towers, he was COO of Optasite — a company acquired by Steve Bernstein’s SBA. Furthermore, Peduto was an American Tower VP after a 20-year cable TV industry career.
