Crown Castle: Why Mess It Up With Tower TV?

Forbes asks a valid question: you are a tower company and have a cushy business of collecting monthly rent checks…so why mess it up with going after the mobile TV market? Next year Crown Castle hopes to launch Modeo, a broadcast service offering live and prerecorded sports, news and music in 30 markets, something we have been covering in some detail.
Crown Castle has so far invested $30 million of its own cash in Modeo, but Kelly is hedging his risk by hiring Allen & Co. to raise $500 million in other people’s money. Crown can maintain a controlling stake as long as Modeo’s equity value continues to increase with each new city added.
An interesting differentiation between Modeo and Qualcomm MediaFlo: Whereas Qualcomm is focusing on the 205 million U.S. mobile-phone subscribers, Crown Castle sees Modeo as a broadcast aimed at any device that can take an antenna: iPods, BlackBerrys, automobiles, gaming devices such as Sony PSP and gadgets from companies yet to be born.
Related: Crown Castle Renames Mobile TV Division As Modeo; To Launch In 30 Markets