HOUSTON-Crown Castle International Corp. said it will pay the quarterly dividend on its 12 3/4 percent senior exchangeable preferred stock on Dec. 15, 2002, to all holders of record on Dec. 1, 2002.The dividend will be paid in shares of the preferred stock at...
NEW YORK-American Tower Corp.'s stock has been upgraded to "Strong Buy" by Raymond James & Associates Inc. in anticipation of several financial actions expected to occur by early 2003.American Tower is expected to announce structural separation of its Verestar satellite division before year-end, which...
NEW YORK-American Tower Corp.'s stock has been upgraded to "Strong Buy" by Raymond James & Associates Inc. in anticipation of several financial actions expected to occur by early 2003.American Tower is expected to announce structural separation of its Verestar satellite division before year-end, which...
BOSTON-American Tower Corp.'s third quarter results were met with congratulations from industry analysts on the company's subsequent conference call. Despite a $353.9 million net loss, or $1.81 per share, and decreased revenues, American Tower reported an EBITDA of $86 million, up 27 percent from...
BOSTON-The four publicly traded tower companies received a much-needed boost from Wall Street this week, following tolerable carrier earnings and some financial announcements of their own.Third-quarter earnings announcements from AT&T Wireless Services Inc. and Nextel Communications Inc., including AT&T's plan to spend $2.3 billion...
BOSTON-American Tower Corp. amended provisions of the loan agreement for senior secured credit facilities of some of its subsidiaries.The provisions ease the company's pro forma debt service covenant, tighten its leverage ratio and eliminate certain investment baskets. American Tower also said Verestar, which it...
NEW YORK-Standard & Poor's Ratings Services said late last week it has placed B-plus corporate credit ratings on American Tower Corp. and Crown Castle International Corp. and a B rating on SBA communications Corp., and put all three companies on CreditWatch with negative implications."The...
BOSTON-Attempting to squelch rumors it will run out of cash, American Tower Corp. reaffirmed its total revenues for third quarter 2002.American Tower expects to report tower revenues in the range of $140 million to $144 million and tower cash flow between $85 million and...
NEW YORK-Moody's Investors Service has assigned a speculative grade liquidity rating of SGL-3 to tower owner and operator Crown Castle International Corp.Moody's said that the company has "ample cash position and comfortable convenant cushion on its two U.S. credit facilities," but added that the...
WATERBURY, Conn.-MTS Holdings L.L.C. announced it has purchased American Tower Corp.'s MTS Wireless Components, Vancomm, Site Advantage and S&S Dynamic operations throughout the United States and Asia. The investor group includes prior Microwave Tower Service Inc. owner Tom Carpenter and President Ernie Carpenter,...
HOUSTON-Although Crown Castle International Corp. narrowed its net loss for the second quarter ended June 30 compared with second-quarter 2001, the company slashed in half its earnings expectations for 2002 and Wall Street took notice.Like American Tower Corp., which reported earnings late Wednesday, CCI's...
BOSTON-American Tower Corp.'s stock hit a 52-week low after the company reported earnings for the second quarter ended June 30.Although American Tower narrowed its losses, its stock dropped to $1.40 in mid-day trading, down 20 cents from the previous day's close. The company reported...
SAN JUAN CAPISTRANO, Calif.—Shorecliff Communications and RCR Wireless News announced the finalists for the 2001 Excellence in Business Awards, scheduled to take place Oct. 30 at the 2001 Tower Summit and Trade Show at the Bally's Hotel in Las Vegas.The awards recognize leadership and...
BOSTON-American Tower Corp. named James Taiclet president and chief operating officer. Taiclet previously worked for Honeywell International where he was president of Honeywell Aerospace Services.He replaces Doug Wiest, who is now executive vice president of operations.
NEW YORK-American Tower Corp., Boston, warned June 21 of greater losses than securities analysts had expected due to acquisition integration problems and a write-off related to the Nasdaq delisting threat against a company in which it invested.The wireless and broadcast tower owner and operator...
Tower companies tend to fall into a safe and cozy place in the hard driving, fast moving wireless machine, seemingly immune to the pitfalls that plague carriers and network equipment suppliers, pitfalls such as subscriber churn, microprocessor shortages and a crashing stock market that...
WASHINGTON-An environmental group told the Federal Communications Commission it must conduct a nationwide environmental impact statement before approving any more towers or risk being in violation of various environmental laws."The FCC must complete an environmental impact statement addressing the direct, indirect and cumulative effects...
American Tower Corp. and SpectraSite Holdings Inc. reported positive operational results last week for the first quarter ended March 31.American Tower said it constructed 375 new towers, acquired 238 wireless towers and one broadcast tower, and removed 175 sites from its active marketing list,...
NEW YORK-Lenders anted up significant capital during the first quarter for the five publicly traded wireless tower companies, even as their share prices declined amid the stock market's general concerns about telecommunications."At a time when companies like PSINet made announcements that their stock is...
As wireless carriers focus more and more of their resources on reducing churn, signing up new subscribers and acquiring spectrum for third-generation services, tower siting and construction is continually falling into the hands of companies like Mericom Corp., which has the ability to design,...
BOSTON-American Tower Corp. reported revenues for the fourth quarter and year ended Dec. 31 of $243.8 million and $735.3 million, respectively, compared with revenues of $89 million and $258.1 million for the fourth quarter and year-end 1999.The company recorded a net loss of $54.8...
BOSTON-American Tower Corp. has priced the sale of 10 million shares of class A common stock through Goldman, Sachs & Co. in an underwritten public offering. The net proceeds of this offering are expected to be approximately $361 million, American Tower said.The company also...
BOSTON-American Tower Corp. said it expects fourth-quarter revenues to be in the range of $226 million to $233 million, exceeding the company's previously announced expectations due in part to stronger-than-expected sales in the Internet, voice, data and video segments.American Tower also said it expects...
Back in October, when the top brass of the tower industry converged in Las Vegas for the 2000 Tower Summit and Trade Show, the room buzzed with anticipation over the new opportunities third-generation technologies were expected to bring.Why should the tower industry care about...
