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Uniti Group agrees to buy fiber assets from CableSouth Media

Uniti Group Inc. agreed to buy fiber assets spanning 607 route miles or approximately 43,000 fiber strand miles across Arkansas, Louisiana and Mississippi from CableSouth Media LLC for $31 million in cash.

The communications real estate investment trust will sign an agreement with CableSouth to lease back 34,000 fiber strand miles on a triple-net basis once the deal closes in the third quarter. The lease will have an initial term of 20 years, with four five-year renewal options.

Uniti will have exclusive use of 9,000 fiber strand miles near the REIT's southern network footprint.