Crown Castle International Corp. last week confirmed it is selling its U.K. business, including 3,600 tower sites, to British utility company National Grid Transco plc for $2.035 billion cash."The price fully values the U.K. business plan," said Ben Moreland, Crown's chief financial officer. "We...
AeroSolutions L.L.C. has found its niche in the oft-neglected wireless tower infrastructure industry. The company said it is being discovered by bigger players that increasingly rely on its expertise to forge their own successes in the wireless business.Steel tower structures physically deteriorate in the...
A regional wireless industry association could be coming to a neighborhood near you. A movement is afoot in the wireless industry, and the tower sector, hungry to learn the intricacies of the industry from the experts, is leading the charge. Atlanta, home to the...
Wireless tower owner Global Signal Inc., formerly known as Pinnacle Holdings, has returned to the public market with an initial public offering of 7 million shares of common stock priced at $18 per share. Shares of Global Signal, under the symbol GSL, began trading...
Wireless tower owner Global Signal Inc., formerly Pinnacle Holdings, has returned to the public market with an initial public offering of 7 million shares of common stock priced at $18 per share. Shares of Global Signal, under the symbol GSL, began trading today, and...
Despite increased revenues, tower companies Crown Castle International Corp. and SBA Communications Corp. reported first-quarter financials in the red, although Crown managed to shave its losses.Crown reported site rental and broadcast transmission revenue of $219.4 million, up 18.6 percent, or $34.4 million, from last...
HOUSTON-Wireless communications tower owner Crown Castle International Corp. released financial results for the first quarter of 2004 in line with guidance issued last month.The company reported site rental and broadcast transmission revenue of $219.4 million, up 18.6 percent, or $34.4 million, from last year's...
SpectraSite Inc. kicked off wireless tower company first-quarter earning releases this week on a positive note.The company said revenues for the first quarter were $84.6 million and operating income was $21.4 million. Net income, after expenses, was $7.1 million, or 15 cents per share,...
BOCA RATON, Fla.-SBA Communications Corp. announced it has hired a new chief financial officer. In addition to heading up financial aspects of SBA, Anthony Macaione, 40, will also serve as senior vice president. Macaione, a certified public accountant, joins from Perry Ellis International Inc.,...
Crown Castle International Corp. put wireless communications tower stock traders in a frenzy this week when it offered up a concrete sign of hope for the sector by raising its earnings expectations for the full year.Crown said it now expects site rental and broadcast...
NEW YORK-Lehman Brothers analyst Blake Bath this week initiated coverage of tower companies American Tower Corp., Crown Castle International Corp. and SpectraSite Inc. with various ratings. Bath rated American Tower "overweight" with a $16 price target, Crown was rated "equal-weight" with a $15 price...
HOUSTON-Crown Castle International Corp. announced it has extended its offer to exchange newly issued 7.5 percent senior notes due 2013 for $300 million outstanding principal amount of its 7.5 percent existing senior notes due 2013.The offer's expiration date has been extended through March 12,...
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...
HOUSTON-Crown Castle International Corp. said it will recognize the loss related to the extinguishment of the tendered 9 percent and 9.5 percent senior notes in the first quarter of this year, which will decrease its previously reported fourth-quarter and full year 2003 net loss....
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...
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...
ALEXANDRIA, Va.-The newly formed Women's Wireless Leadership Forum launched its first educational teleconference-"New Historic Preservation Rules: Impact on Your Bottom Line," scheduled for Feb. 19.The teleconference, to be hosted by Monica Gambino, associate general counsel for regulatory affairs at Crown Castle International Corp., will...
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...
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...
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...
HOUSTON-Crown Castle International Corp. announced it has received consents for amendments to the terms of its 10.375-percent senior discount notes and its 11.25-percent senior discount notes from holders of the notes following its Nov. 24 tender offers and consent solicitations.As of Dec. 9, when...
