SARASOTA, Fla.-Global Signal Inc. said it will review its financial statements owing to changes in accounting rules about ground leases instituted by the Securities and Exchange Commission.The tower operator said it will affect the two months ended December31, 2002, the fiscal year ended December...
SARASOTA, Fla.-Like other major tower operators, Global Signal Inc. said it plans to release its fourth-quarter and year-end 2004 financial results March 10. The decision followed a letter from the Securities and Exchange Commission calling for a change in lease accounting. It will affect...
At long last, the tower deal causing months of speculation is etched on the record books. Global Signal Inc. has won the exclusive rights to lease or operate more than 6,600 towers from Sprint PCS for 32 years, sending Global's share price up 7.2...
SAROSTA, Fla.-Like other major tower operators, Global Signal Inc. said it plans to release its fourth-quarter and year-end 2004 financial results March 10. The decision followed a letter from the Securities and Exchange Commission calling for a change in lease accounting. It will affect...
SAN FRANCISCO-Sprint PCS may be near selling its tower business to Global Signal Inc. for $1.2 billion, according to press speculations.The deal, which entails up to 6,500 towers, is expected to be announced today.Global Signal has been one of the top contenders for the...
Sprint PCS tower assets are creating industry buzz again as the carrier affirmed it is talking with potential buyers. With its 6,200 towers up for sale, Sprint seems poised to get enough money to fund its merger with Nextel Communications Inc. and other technology...
In a move that drove up its shares 6 cents following the announcement, Global Signal Inc. said it plans to sell 2.9 million common shares. The company intends to acquire 233 communication sites in 13 states, such as Alabama, Michigan and New Hampshire, with...
SARASOTA, Fla.-In a move that drove up its shares 6 cents, Global Signal Inc. said it plans to sell 2.9 million common shares. The company intends to acquire 233 communication sites in 13 states, such as Alabama, Michigan and New Hampshire, with the proceeds.Morgan...
With carriers focusing on network efficiency, tower companies are not expected to yield any immediate benefits from the anticipated merger between Sprint PCS and Nextel Communications Inc., according to analysts. In a few years, however, SpectraSite Inc. may reap some financial gains if and...
SARASOTA, Fla.-Global Signal Inc. said its board of directors has increased its cash dividend for the fourth quarter to 40 cents per share of common stock from 37 cents in the third quarter of 2004.The dividend is payable Jan. 20.The tower player owns or...
NEW YORK-The stakes for Sprint Corp.'s 6,500 cell-phone towers rose as at least four bidders have offered proposals to buy them in an auction that could bring in as much as $1.2 billion, according to a report in The Wall Street Journal. Liberty Media...
The stakes for Sprint Corp.'s 6,500 cell-phone towers rose as at least four bidders have offered proposals to buy them in an auction that could bring in as much as $1.2 billion, according to a report in The Wall Street Journal.Liberty Media Corp. and...
SARASOTA, Fla.-Global Signal Inc. said it has issued a debt offering backed by a mortgage loan of about $293.8 million for a five-year period. The loan, which is issued in various classes of certificates, will close Dec. 7.The weighted average interest rate is about...
Wireless tower owners continue to gain steam, as reflected in third-quarter financial results released last week by Crown Castle International Corp., Global Signal Inc., American Tower Corp. and SBA Communications Corp. Crown Castle's solid third-quarter earnings included site-rental revenues that reached $134 million, up...
The history of Broadcast Towers Inc., a modestly sized tower services company, offers an account of the tower industry's past and suggests a different path the the future. Ben Gaboury, Ron Lipham and Michael Kerwick have more in common than sitting at the helm...
American Tower Corp. and Global Signal Inc. continued the wave of solid third-quarter 2004 financial results from wireless tower companies. American Tower reported total revenues of $199.2 million and income from operations of $24.6 million, increased from $186.9 million and $12 million, respectively, a...
Sprint Corp. Chairman and Chief Executive Officer Gary Forsee said last week that the company's highly anticipated sale of its more than 6,200 wireless towers could be completed by the end of this year, and that the company was moving aggressively on its deployment...
Sprint Corp. Chairman and Chief Executive Officer Gary Forsee said the company's highly anticipated sale of its more than 6,200 wireless towers could be completed by the end of this year and that the company is moving aggressively on its deployment of high-speed wireless...
SARASOTA, Fla.—Global Signal Inc. said it will purchase all of the equity of GoldenState Towers L.L.C. for up to $63.1 million, in a transaction excepted to close in the fourth quarter. GoldenState is a portfolio company of VS&A Communications Partners III L.P., a private...
CARY, N.C.-TowerCo Inc. announced it has begun operations at its Cary, N.C., headquarters and a southeast region office in Richmond, Va., on a commitment of up to $50 million in equity financing from Tailwind Capital Partners L.L.C."Our plan is to quickly build a reputation...
Global Signal Inc. said it will purchase all of the equity of GoldenState Towers L.L.C. for up to $63.1 million, in a transaction excepted to close in the fourth quarter. GoldenState is a portfolio company of VS&A Communications Partners III L.P., a private equity...
Change has been afoot in the wireless tower industry. In the past 18 months, two of the industry's five public players have gone through bankruptcy and returned, businesses have been divested and restructured, and stock valuations have fallen and risen like the tides. Meanwhile,...
Four of the five publicly traded wireless communications tower firms reinforced notions that this year would be a better one for the sector in their second-quarter 2004 financial results, released last week.In addition to its improved second-quarter results, SpectraSite Inc. announced the search is...
Global Signal Inc. will acquire 235 wireless communications towers from private tower venture Lattice Communications L.L.C. for $115 million.The towers are primarily located in Indiana, Ohio, Alabama, Kansas and Georgia. The towers' tenants include the top six wireless carriers and subsidiaries of Cinergy Corp.,...
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