HOUSTON-Crown Castle International Corp. announced it is soliciting consents from the holders of its 10.63-percent senior discount notes due 2007 and its 12.75-percent senior exchangeable preferred stock due 2010 to certain amendments to the instruments governing these securities to conform those instruments to the...
Lucent Technologies Inc. charged ahead during the first half of the year, recording a substantial jump in profit growth and edging ahead of Nokia Corp. as the major players' leader in net income for the first half of the year.Profit leadersLucent displaced Alcatel as...
LAS VEGAS-The agreement between Crown Castle International Corp. and GTE Corp. by many accounts eliminated the last major carrier tower portfolio on the market and capped off a year of massive and frenzied consolidation of tower assets into a handful of increasingly large hands.Several...
Crown Castle International Corp. plans to acquire about 2,300 towers through a joint venture with GTE Corp.Crown Castle has a similar joint venture agreement with Bell Atlantic Corp., which is in the process of acquiring GTE. Including the GTE towers, Crown Castle controls about...
Tower companies late last week made several announcements: Nextel Communications Inc. signed a master lease agreement with Crown Castle International Corp. to collocate on 1,264 wireless sites owned by Crown Castle in the United States. The agreement represents annualized leasing revenue for Crown Castle...
While most tower companies have been focusing their attention on the domestic market, Crown Castle International Corp. has cast its net overseas.Crown, through its Crown Castle UK Ltd. subsidiary, controls 1,800 towers in the United Kingdom, including the BBC's TV and radio networks. Earlier...
Following is a summary of the finalists for the tower industry Excellence in Business Awards sponsored by RCR and Shorecliff Communications Inc. Winners will be announced at the 1999 Tower Summit & Trade Show Nov. 8 in Las Vegas.Most Innovative Collocation Solution Crown Castle...
WASHINGTON-The Personal Communications Industry Association last week attempted to neutralize legislation to curb antenna siting by telling Congress that consolidation in the tower business will reduce the number of wireless facilities in communities across the country in the future.John Kelly, president of Crown Castle...
AMSTERDAM, The Netherlands-Detron Group N.V. established a joint venture with Crown Castle International. Crown Castle initially will invest $10 million in the venture, and Detron's Sites & Towers affiliate will be part of the venture through a minority stake. Lehman Brothers, a global investment...
WARWICK, United Kingdom-Castle Transmission International, the U.K. subsidiary of Crown Castle International Corp., said it is working in cooperation with One 2 One on plans for a mobile network in Northern Ireland.Under terms of a preliminary agreement, CTI will design the One 2 One...
NEW YORK-As the Internet accelerates the globalization of telecommunications, mergers and acquisitions among traditional and nontraditional players have eclipsed initial public offerings as the preferred strategy for retaining competitive advantage."In the United States, the Internet economy generated $301 billion in 1998 and will generate...
HOUSTON-Crown Castle International Corp. announced it filed a preliminary prospectus supplement covering up to 5 million shares, worth approximately $115 million, of its common stock owned by Robert and Barbara Crown.Additionally, Crown Castle said it closed on two notes offerings and has received combined...
TeleCorp PCSTeleCorp PCS Inc. hired Raul Burgos as vice president and general manager of its Puerto Rican operations. He most recently served as general manager and vice president of operations for Nextel International Inc. in Sao Paulo, Brazil. He is a 10-year veteran of...
WEST POINT, Ga.-Powertel Inc. reported revenues for the second quarter ended June 30 of $63.9 million, a significant increase over the $40.8 million reported for second-quarter 1998.Powertel recorded net earnings of $60.6 million, or $2.19 per basic share, compared with a net loss of...
HOUSTON-Crown Castle International Corp.'s U.K. subsidiary, Castle Transmission International Ltd., increased its revolving senior credit facility to $236 million.The bank syndicate led by Credit Suisse First Boston has expanded from six banks to 19 banks in the new facility, said the company. Two-thirds of...
HOUSTON-Easterly Investor Relations announced Crown Castle International Corp. and Quanta Services Inc. have been added to the Russell 3000 Index, which measures the performance of the 3,000 largest U.S. companies based on total market capitalization.Crown Castle is on the Russell 1000 Index, a subset...
ATLANTA-Crown Castle International Corp. and BellSouth Corp. reached a preliminary agreement that calls for BellSouth to sublease the unused space on its 773 personal communications services towers to Crown Castle for $317 million in cash.In addition, Crown Castle's and BellSouth's affiliates agreed to an...
The gap between large and small independent tower companies became wider last week as a pair of transactions added nearly 2,500 towers to the portfolios of two of the larger players in the tower industry.American Tower Corp. will add about 600 owned and operated...
HOUSTON-Crown Castle International Corp. said it has acquired 619 wireless communications towers from Powertel Inc. for approximately $262 million in cash.The agreement provides Powertel with a 10-year lease, with three five-year renewal terms. Crown Castle said it will receive $1,800 per month per tower...
After securing purchase-leaseback deals with BellSouth Cellular Corp. and Powertel Inc., Crown Castle International Corp. capped off its first quarter with significant increases in revenues and cash flow.Total revenues increased 366 percent to $55.1 million, compared with revenues of $11.8 million during last year's...
The transition of control of cell sites from wireless carriers to independent tower companies is accelerating, and build-to-suit companies increasingly are getting the call from carriers to handle the buildout of their networks.Most industry watchers agree the transition is good for carriers and tower...
PITTSBURGH, Pa.-Crown Communications said it won a contract to provide build-to-suit services in Texas for Western Wireless Corp., increasing Crown's domestic tower portfolio by about 50 towers.Crown Communications is the domestic operating subsidiary of Crown Castle International Corp.
HOUSTON-Crown Castle International Corp. and Bell Atlantic Mobile have closed a $660 million transaction involving a five-year exclusive build-to-suit program, the construction of 1,460 wireless towers and the establishment of Crown Atlantic Holding Co. L.L.C., a joint venture formed to own and operate the...
In the last two weeks alone, Crown Castle International Corp. has more than doubled its tower portfolio in the United States and United Kingdom, securing a top position for itself among independent tower companies.The most recent transactions with Powertel Inc. and the U.K.'s One...
