BOSTON-American Tower Corp. announced Jim Taiclet, formerly president and chief operating officer, will take over the roll of chief executive officer, replacing Steve Dodge who will continue as chairman of the company's board of directors.Taiclet joined American Tower in September 2001 with previous executive...
NEW YORK-Bear Stearns & Co. Inc. has raised its wireless tower sector rating to "market overweight," reflecting its confidence in the industry's ability to continue financial deleveraging. The analyst firm specifically raised its rating on Crown Castle International Inc. to "outperform" and its year-end...
BOSTON-American Tower Corp. has sold $35 million in 3.25-percent convertible notes due 2010 resulting in net proceeds of $33.9 million. The company plans to use $15.6 million of the proceeds to reduce debt under its credit facilities and to hold the rest in a...
BOSTON-American Tower Corp. has closed its previously announced offerings of Class A common stock and 3.25-percent convertible notes due 2010.With the closing of the Class A common stock offering, American Tower issued 12.4 million shares for $104.8 million. The underwriters exercised their option to...
The headline in the July 28 issue on page 12 about American Tower earnings should have read "American Tower to shed tall tower construction service subsidiary."In the "Cingular to use NextWave spectrum" story in the Aug. 4 issue of RCR Wireless News, the price...
BOSTON-American Tower Corp. Chairman and Chief Executive Officer Steve Dodge purchased 100,000 shares of American Tower stock priced between $9.13 and $9.37 according to a recent filing with the Securities and Exchange Commission. "AMT chairman has increased his personal equity exposure to the company...
BOSTON-American Tower Corp. has closed its previously announced offerings of Class A common stock and 3.25-percent convertible notes due 2010.With the closing of the Class A common stock offering, American Tower issued 12.4 million shares for $104.8 million. The underwriters exercised their option to...
Second-quarter results from public tower companies reflect improved financial stability and greater optimism that cell-site additions will ramp up in the coming months. Crown Castle International Corp. released its second-quarter financials late last week. The company reported revenue of $224.2 million, down slightly from...
BOSTON-American Tower Corp. has priced the public note offering and the convertible note offering it announced earlier this week.The company will sell $175 million principal amount of its 3.25-percent convertible notes due 2010 through an institutional private placement. Initial buyers also have an option...
BOSTON-American Tower Corp.'s second-quarter 2003 financial results reflected increased revenues as well as increased losses, and showed the company is still shedding non-core assets to further its financial stability.The company recorded total revenues of $178.2 million, up from $165.8 million in the second quarter...
Wireless tower industry stocks soared last week, with major players' shares rising above previous 52-week highs. American Tower Corp. was trading at $9.25 per share, Crown Castle International Corp. hit $7.94, SBA Communications Corp. was at $3.10 and SpectraSite Inc. was at $49.40 per...
Wireless infrastructure association PCIA is gearing up for its first industry trade show since it narrowed its focus to the tower sector last fall, but tight travel budgets will not be the only factor threatening the show's success. PCIA's Wireless Infrastructure Conference & Expo,...
Wireless tower industry stocks soared this week, with major players' shares rising above previous 52-week highs. American Tower Corp. was trading at $9.25 per share, Crown Castle International Corp. hit $7.94, SBA Communications Corp. was at $3.10 and SpectraSite Inc. was at $49.40 per...
As the wireless industry comes of age, upgrades are necessary to keep existing, legacy infrastructure in working order and compatible with emerging wireless communications technologies. Those upgrades and enhancements start with the very foundation of wireless communication, wireless tower sites.Physical tower upgrades occur mainly...
American Tower Corp.'s first-quarter 2003 results reflected a continued focus on its core rental and management operations and optimism in financial expectations for the latter half of 2003.The company reported revenues of $177.2 million, down from the $186.6 million reported a year ago, which...
BOSTON-American Tower Corp.'s first quarter 2003 results released today reflected a continued focus on its core rental and management operations.The company reported revenues of $177.2 million, down from the $186.6 million reported a year ago which American Tower said was due to its focus...
BOCA RATON, Fla.-SBA Communications Corp. has received a $195 million credit facility from GE Structured Finance and affiliates of Oak Hill Advisors Inc. to refinance the existing senior credit facility of subsidiary SBA Telecommunications Inc. SBA owes $255 million under the existing facility and...
BOSTON-Shares of American Tower Corp. hit a new 52-week high on Thursday, trading at $6.15 by mid-day. The company's stock is up 72 percent since the end of 2002. Other tower company stocks are also up for the year, with Crown Castle International Corp....
BOSTON-Speech technology provider SpeechWorks International Inc. announced Bob Kellegrew has joined as vice president and general counsel.Kellegrew joins the company from American Tower Corp. where he served in a similar position. He also has previous experience with videoconferencing company PictureTel Corp. and at FTP...
BOCA RATON, Fla.-With its stock still floating above $1 following last week's announcement of its pending tower sale, SBA Communications Corp. has reported its fourth-quarter and year-end 2003 results. For the fourth quarter, SBA's total revenue decreased 7.3 percent to $64.1 million from the...
HOUSTON-Tower owner and operator Crown Castle International Corp.'s fourth-quarter 2002 results released late Wednesday reflected lower total revenues, but an increase in site rental and broadcast transmission revenues and an improved net loss. The company reported total revenue of $228 million, down from...
ST. PETERSBURG, Fla.-Raymond James & Associates Inc. has increased its financial expectations, including year-end 2003 price targets, for tower giants Crown Castle International Inc. and American Tower Corp.Crown Castle's price target has been increased from $6 to $6.50. Analysts said the previous target was...
NEW YORK-American Tower Corp. announced it will receive $420 million following the sale of 12.25 percent senior subordinated discount notes due 2008 of newly formed and wholly owned subsidiary American Tower Escrow Corp. and warrants to purchase 11.4 million shares of Class A American...
NEW YORK-The U.S. wireless tower industry is at least 18 to 24 months away from recovery, according to a recent report from Standard & Poor's Rating Services.In its report, S&P cites financial challenges faced in 2002 by the five publicly traded U.S. tower companies,...
