Wireless communication tower owners American Tower Corp., Crown Castle International Corp. and SpectraSite Inc. spoke at last week's Raymond James & Associates Inc. Institutional Investors Conference, where all three companies expressed optimism for strong tower lease-ups in 2004. American Tower said it expects industry...
OVERLAND PARK, Kansas-Rumors that Sprint PCS might sell its 6,000 wireless communications towers to reduce debt are again circulating, according to a report from Bloomberg. The Bloomberg report said Sprint has hired Citigroup Inc. and Bank of America Corp. to advise on the possible...
CARY, N.C.-SpectraSite Communications Inc. announced it has completed the sale of its broadcast services division to Doty, Moore & Hoenninger L.L.C., an investment vehicle owned by members of the broadcast group's existing management team."The sale of our broadcast services division represents the final step...
BOSTON-American Tower Corp. has completed the redemption of $212.7 million principal amount of its 6.25 percent convertible notes due 2009. The company redeemed the notes at 102.1 percent of the principal amount, for a redemption price of $221.9 million, including $4.8 million in accrued...
American Tower Corp. and Crown Castle International Corp. released solid fourth-quarter 2003 financial results, as expected.American Tower's revenues totaled $191.5 million, up from $177.4 million for the fourth quarter of 2002. Net loss decreased to $51.2 million, or 23 cents per share, compared with...
NEW YORK-Tower stocks are slightly down in value despite strong earnings reports from American Tower Corp. and Crown Castle International Corp. earlier this week.Analysts from Raymond James & Associates Inc. point to Cingular Wireless L.L.C.'s suggestion yesterday that they would trim back on cell...
HOUSTON-Crown Castle International Corp. closely followed competitor American Tower in releasing its fourth-quarter 2003 results.Crown reported revenue for the fourth quarter of $214 million, up from $179.3 million during the same quarter in 2002. Revenue for the full year 2003 was $786.8 million, also...
BOSTON-American Tower Corp.'s fourth-quarter 2003 earnings reported today were in line with analyst expectations.The company said revenues totaled $191.5 million, up from $177.4 million for the fourth quarter 2002. Net loss decreased to $51.2 million, or 23 cents per share, compared with $52.4 million,...
BOSTON-American Tower Corp. announced it has refinanced its $267 million Term Loan B under its credit facilities, with a new Term Loan C due Dec. 31, 2007. The company also amended its credit facilities to permit the issuance of its 7.5-percent senior notes due...
BOSTON-American Tower Corp. announced it will sell $225 million principal amount of 7.5-percent senior notes due 2012 through an institutional private placement. Net proceeds are expected to be approximately $221.7 million. The company plans to use the proceeds to redeem all its outstanding $212.7...
The sale of AT&T Wireless Services Inc. is unlikely to have a long-term negative effect on the tower industry, according to tower companies and analysts in the space, who this week applauded strong 2004 tower-build expectations released by AWS and Cingular Wireless L.L.C.Cingular said...
Steve Dodge, founder of American Tower Corp., announced he will retire as chairman of the board.Dodge said he intends to retire officially sometime before American Tower's annual meeting of stockholders, scheduled to take place during the second quarter. Following retirement, he plans to continue...
NEW YORK-Standard & Poor's Ratings Services raised its outlook on American Tower Corp. to positive from stable, and affirmed its "B-" corporate rating on the company.S&P said it is likely carriers will maintain or increase tower-related spending, and concern over the impact carrier consolidation...
BOCA RATON, Fla.-SBA Communications Corp. is launching a new $350 million senior secured credit facility that will consist of a $75 million revolving credit facility to mature July 2008 and a $275 million term loan to mature October 2008.SBA plans to borrow from the...
Affirmation from wireless carriers and equipment vendors, as well as industry analysts and Wall Street, is driving optimism from tower companies regarding new tower builds. Analyst firm Raymond James and Associates Inc. said its belief cell-site deployments are increasing was validated by equipment supplier...
If the predictions pan out, wireless carriers will loosen their purse strings in 2004 to further build out and enhance their networks. To appease unsatisfied consumers and to prove their mettle against the competition, carriers likely will be issuing search rings to locate the...
When tight carrier capital spending forced tower companies to focus on their primary businesses, non-core assets like managed rooftop portfolios justifiably became a second priority. But as the sector rebounds, tower companies will have to decide whether to tend to those neglected assets or...
BOSTON-American Tower Corp. said in a recent filing with the Securities and Exchange Commission it plans to sell up to $850 million in debt securities, preferred stock, common stock, warrants, stock purchase contracts and equity units. The company plans to use the proceeds for...
BOSTON-American Tower Corp. announced last week its Verestar Inc. subsidiary has filed for Chapter 11 bankruptcy protection. American Tower had planned to sell the satellite and fiber network communications access provider by the end of 2003, and a year ago designated Verestar a discontinued...
WASHINGTON-The FCC's Wireless Telecommunications Bureau last month set down a marker as to whether towers can be placed along scenic highways and it came down on the side of the wireless industry."Given this consistent history of adapting the protection of the viewshed so as...
BOCA RATON, Fla.-SBA Communications Corp. has released its third-quarter 2003 financial earnings. The company also released the results of a re-audit of its fiscal year 2001 and 2002 financial statements to reflect the sale of towers to AAT Communications Corp. and other towers held...
BOSTON-American Tower Corp. announced its American Towers Inc. subsidiary will sell $400 million principal amount of 7.25-percent senior subordinated notes due 2011 in an institutional private placement.The company originally sought to issue $350 million of the notes. Net proceeds from the notes will be...
BOSTON-American Tower Corp. reported strong third-quarter results, including increased revenues and earnings before interest, taxes, depreciation and amortization and decreased net losses.Total operating revenues were $186.9 million, up from $174.9 million in the third quarter of 2002, and net loss was $52.9 million, or...
BOSTON-American Tower Corp. has completed its cash tender offer for its 2.25-percent convertible notes due 2009.The company said that more than $104 million in aggregate principal amount at maturity of notes was surrendered for repurchase. The repurchase price for the notes was $802.93 per...
