AMT faces $300M AT&T Mexico arbitration and DISH default; churn triples to 5%

Filed April 28, 2026 · Period ending March 31, 2026 · Compared to 10-Q Apr 29, 2025 · ~2 min read

Key Changes

• high

  AT&T Mexico, representing $300M annual revenue, is withholding rent and challenging lease terms in arbitration scheduled for August 2026. AMT has recorded $40M in reserves to date with more expected.

  Legal Proceedings: AT&T Mexico arbitration verify on EDGAR →
• high

  DISH defaulted on its service contract in January 2026 after attempting to exit in September 2025. AMT filed suit in Colorado federal court and recorded $17.5M in impairment charges. DISH represented 4% of U.S. & Canada revenue.

  Legal Proceedings: DISH contract default verify on EDGAR →
• high

  Churn rate jumped from 2% to 5% of tenant billings, driven primarily by the DISH default. Non-cancellable lease revenue outlook fell from over $55B to over $50B, signaling weaker contracted revenue visibility.

  MD&A: Churn and revenue backlog verify on EDGAR →