NASHVILLE, Tenn.-Tower industry officials last week said lessons learned from last year's horrific storms have made them better prepared for the next big one. Speaking at PCIA's wireless infrastructure convention, tower executives outlined how they have improved all aspects of disaster planning and response...
BOSTON—Shares of American Tower Corp. slid after the tower vendor said it will have to restate earnings due to inconsistencies regarding past stock-option grants. The company plans to file an amended annual report for 2005 that will "reflect the restatement of its consolidated financial...
NEW YORK-The broadening investigation into stock-option grants continues to plague wireless as federal prosecutors brought criminal charges against three former executives of Comverse Technology Inc. The criminal complaint, which was unsealed in federal court in Brooklyn, accuses founder and former Chief Executive Officer Kobi...
There's nothing like a new nationwide WiMAX network to invigorate the already booming tower industry, though news of Sprint Nextel Corp.'s WiMAX plans didn't come in time to boost second-quarter results from Global Signal Inc. or American Tower Corp. During an earnings conference call,...
The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms. Click here for wireless ratings from past weeks from RCR Wireless News. CarrierRBC Capital Markets downgraded Sprint Nextel Corp. to sector perform from outperform and...
NEW YORK—The broadening investigation into stock-option grants continues to plague wireless as federal prosecutors brought criminal charges against three former executives of Comverse Technology Inc. The criminal complaint, which was unsealed in federal court in Brooklyn, accuses founder and former Chief Executive Officer Kobi...
SARASOTA, Fla.—For the fifth quarter in a row, Global Signal Inc. blamed its net losses on the company’s $1.2 billion cash purchase of 6,600 Sprint Nextel Corp. towers, which the company announced in May 2005. Global Signal said its second-quarter net losses grew to...
BOSTON—American Tower Corp., the nation’s largest tower company, released limited second-quarter results—but said it will probably restate its past earnings as a result of its investigation of stock option-granting practices. AMT said it expects to report its full second-quarter results in the next four...
The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms. Click here for wireless ratings from past weeks from RCR Wireless News. CarrierStandard & Poor’s Ratings Services cut its corporate credit and unsecured debt ratings...
MOUNTAIN VIEW, Calif.—VeriSign Inc. confirmed it received a grand jury subpoena requesting documents related to the company’s stock-option grants and practices. The company is the latest in a growing list of wireless firms that have been caught up in a nationwide investigation into executive...
BOSTON—American Tower Corp. says it intends to "vigorously defend" its stock-option granting practices in the face of two lawsuits filed just days after the company received a subpoena from a New York district attorney. AMT said a securities class action lawsuit was filed against...
The nationwide investigation into executive stock-option grants seems to be widening daily. And some major players in wireless are coming under the microscope. At issue is the practice of retroactively changing dates stock-option grants become effective. Stock options-allowing employees to purchase shares of the...
The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms. Click here for wireless ratings from past weeks from RCR Wireless News.CarrierMerrill Lynch initiated coverage on Dobson Communications Corp. with a buy rating and...
BOSTON—American Tower Corp. said it received a subpoena in the rapidly widening probe of stock-option grants that is ensnaring several major wireless players. The company, which owns and operates more than 22,000 broadcast and wireless communications sites, confirmed it received the subpoena from the...
BOSTON—American Tower Corp., the nation’s largest tower company, announced that it received a formal letter of inquiry about its stock option grants from the Securities and Exchange Commission. The company said its board created a special committee of independent directors to conduct its own...
SARASOTA, Fla.—For the fourth quarter in a row, Global Signal Inc. blamed its net losses on the company’s $1.2 billion cash purchase of 6,600 Sprint Nextel Corp. towers, which the company announced in May 2005.Posting first-quarter losses of $35.1 million from revenue of $120.9...
Following several years of lean results, tower companies appear to be righting their ships thanks to network expansions and new technology investments. Indeed, Mark DeRussy, analyst with Raymond James Equity Research, said the tower sector remains solid as carriers continue to focus on network...
BOSTON—American Tower Corp. narrowed its financial losses, reporting first-quarter net losses of $2.6 million from revenue of $320.4 million compared to the year-ago loss of $31.6 million based on revenue of $184.4 million. "American Tower made significant progress over the past quarter," stated Jim...
WESTBOROUGH, Mass.-Eager to expand its portfolio, tower owner and operator Optasite Inc. completed a $125 million round of debt and equity financing.The company also closed on a slew of site acquisitions, bringing the company's portfolio of towers to more than 200. The acquisitions range...
WESTBOROUGH, Mass.—Eager to expand its portfolio, tower owner and operator Optasite Inc. completed a $125 million round of debt and equity financing. The company also closed on a slew of site acquisitions, bringing the company’s portfolio of towers to more than 200. The acquisitions...
BOSTON-Citing accounting changes and an increase in outstanding shares, American Tower Corp. posted a fourth-quarter net loss of $87.3 million on revenues of $307.6 million. For the same period in 2004, the nation's largest tower owner and operator reported a loss of $74 million...
Tower circles are buzzing with speculation as to who will walk off with AAT Communications Corp. and its 1,900 or so towers, in effect pushing aside fourth-quarter results from Crown Castle International Corp. and American Tower Corp. that provided few surprises in the tower...
The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms. CarriersPrudential Equity Group lowered its subscriber net adds forecast for UbiquiTel Inc., and consequently its EPS forecast for the company’s fiscal 2006. Prudential’s new EPS...
BOSTON—Citing accounting changes and an increase in outstanding shares, American Tower Corp. posted a fourth-quarter net loss of $87.3 million on revenues of $307.6 million. For the same period in 2004, the nation’s largest tower owner and operator reported a loss of $74 million...
