MOUNTAIN VIEW, Calif.-As President Clinton stated in his Economic Forum speech, "The United States is unambiguously committed to open markets and trade as the best engine we know of to lift living standards, reduce environmental destruction and build shared prosperity."Space station technology was spawned...
CARY, N.C.-SpectraSite Communications Inc. signed a definitive agreement with AirTouch Cellular, obtaining rights to about 430 towers in Southern California through a master sublease agreement valued at $155 million. SpectraSite also will enter a three-year exclusive build-to-suit agreement with AirTouch in the area."This acquisition...
WASHINGTON-Tower-siting bills in the Virginia and Massachusetts legislatures have triggered angry backlashes from local residents and officials who do not want to lose their voice in zoning matters and who suspect political influence peddling may be at the core of legislation in both states.Despite...
The story in the Feb. 14 issue of RCR headlined "Telephia financing totals $11B plus," should have read "Telephia financing totals $11M plus."The story that appeared in the Feb. 14 issue of RCR titled, "Mixed feelings remain between technology camps," should have said that...
American Tower Corp. completed its private placement of $450 million principal amount of 5-percent convertible notes due 2010, issued at 100 percent of their face amount. The amount includes the initial purchaser's exercise of their full option to purchase an additional $50 million aggregate...
BOSTON-American Tower Corp. said it plans to make a private placement of $300 million of convertible notes due 2010 with the option granted to the initial purchasers of an additional $50 million principal amount of notes.The notes will be convertible to class A common...
NEW YORK-Publicly held long-term debt set an unwelcome record in 1999 as 147 corporate and sovereign issuers defaulted on $44.6 billion in bonds, more than double the $21.2 billion of defaults during 1999.Moody's Investors Service Inc., which released its year-end 1999 bond default report...
NEW YORK-Tower companies are sitting pretty and poised for even greater prosperity in 2000 and beyond as domestic demand for their properties grows.Prime movers in this rosy scenario are the "booming" cellular and personal communications services providers, whose voice traffic and subscriber numbers are...
BOSTON-American Tower Corp. is having a busy start to the new millennium, announcing a new merger and adding more towers to its portfolio.The merger, with Galaxy Engineering Services, will provide American Tower with a global turnkey provider of engineering consulting services."We view Galaxy as...
After five years, Bell Atlantic Mobile got the last laugh. Long-time opponents of BAM cell tower construction in Rock Creek Park had it all planned: They would resort to civil disobedience to block the siting of a 130-foot antenna when the BAM crew arrived. But...
It is a generally accepted fact that today's dollar doesn't buy as much as it used to, but in the case of wireless airtime, it may actually buy more."Since the introduction of PCS, there is a whole new paradigm of wireless pricing. In most...
SARASOTA, Fla.-Pinnacle Holdings Inc., Sarasota, Fla., raised $369 million Jan. 18 in a secondary stock sale of 9 million shares priced at $41 each.Deutsche Bank Alex. Brown was lead underwriter for the offering, and net proceeds will be used to pay down Pinnacle's senior...
BOSTON-American Tower Corp., Boston, has obtained amended credit facilities, arranged by four financial institutions, that will permit it to take out revolving loans of up to $2 billion."The new facilities will be used in part to provide financing for previously announced transactions scheduled to...
Brightpoint Inc. will continue as the exclusive distributor of Ericsson Mobile Phones in the United States, according to the company. The agreement extends Brightpoint's distribution and sales of Ericsson wireless phones through Dec. 31, 2001, and authorizes Brightpoint to act as a distributor of...
RCR announced several promotions and new hires to its editorial staff, effective Jan. 3.Reporter Lynnette Luna has been promoted to Denver bureau chief. She will continue her responsibilities as a reporter, as well as take on more news-gathering duties. "This promotion recognizes the contributions...
In many ways, the wireless tower industry is experiencing the best of times and the worst of times.Tower companies are reporting the wireless industry is building more sites than ever, and the buildout boom is expected to last at least for the next year,...
Looking out the window of his Los Angeles office, William E. Jackson II can see two wireless sites his company designed, but he hopes nobody else can see them.Jackson is president of Clock Tower Communications Inc., one of several companies that has emerged to...
AT&T Wireless Services Inc. affiliate Triton PCS Inc. selected Transcept Inc. to help the carrier extend its personal communications services network using Transcept's TransCell 1900TM PCS-Over-Microwave system.Trancept's focus is on offering equipment that helps carriers deploy and improve their networks while building fewer towers...
MURRAY HILL, N.J.-Lucent Technologies Inc. has taken a page from Ericsson Inc. and Cisco Systems Inc., each of which now dominate in certain areas of telecommunications infrastructure provision, said Richard A. McGinn, Lucent's chairman and chief executive officer."In the communications networking market for service...
DENVER-Newly formed UltraRF, the former semiconductor division of Spectrian Corp., announced a new amplifier integration technology, in addition to details of its focus as an autonomous business unit.UltraRF produces laterally diffused metal oxide silicon and bipolar transistors. The company will begin U.S. beta testing...
Lucent Technologies Inc. charged ahead during the first half of the year, recording a substantial jump in profit growth and edging ahead of Nokia Corp. as the major players' leader in net income for the first half of the year.Profit leadersLucent displaced Alcatel as...
WASHINGTON-Language that requires the National Park Service to issue permits to Bell Atlantic Mobile to site two towers in Rock Creek Park made its way into the federal budget. The provision also ensures that future antenna-siting applications will be completed within a four-month time...
WASHINGTON-A federal appeals court in Philadelphia ruled a U.S. district court erred in forcing a Pennsylvania town to allow a personal communications services tower to be built in the Pittsburgh market.The U.S. Court of Appeals for the Third Circuit concluded the Penn Township's zoning...
WASHINGTON-In a major setback to Bell Atlantic Mobile and AT&T Wireless Services Inc., the Virginia Supreme Court ruled wireless carriers must have local approval to erect towers on state-owned property.The decision complicates a 1997 agreement by the Virginia Department of Transportation to let AT&T...
