To appease a growing wireless data appetite from phones, phablets, and tablets, AT&T raised $4.85 billion from Crown Castle international ( CCI). Crown Castle is buying 600 cell phone towers and will receive an exclusive right to lease and operate over 9,000 other towers from AT&T. The deal between Crown Castle and AT&T makes sense because Crown Castle can increase the monetization of each tower while at the same time lowering AT&T's cost. Also, AT&T is able to free up a war chest of cash that it can use for buying light spectrum and acquisitions including Europe. Follow @RobertWeinstein This article was written by an independent contributor, separate from TheStreet's regular news coverage.