SARASOTA, Fla.—Pinnacle Holdings Inc. said its lenders extended the deadline on its credit facility until Feb. 6, 2002, but the company raised serious doubts it will be able to meet payment requirements without having to sell assets or raise more capital.Pinnacle will have to...
SARASOTA, Fla.—Pinnacle Holdings Inc. settled with the Securities and Exchange Commission relating to Pinnacle's accounting for an August 1999 acquisition of certain Motorola Inc. assets. Pinnacle consented, without admitting or denying the SEC's findings, to the SEC's entry of an administrative order that Pinnacle...
SARASOTA, Fla.—Pinnacle Holdings Inc. closed on the sale of two of its colocation properties located in the central business district of St. Louis, Mo., generating $22 million that will primarily be used to repay bank debt, including payment of the company's fourth quarter scheduled...
Pinnacle Holdings Inc. painted a grim picture during its third-quarter earnings call last week, as executives tried to offer some hope that the company is going to survive even though two of its customers have disappeared and another is about to call it quits."Pinnacle...
SARASOTA, Fla.-Pinnacle Holdings Inc. reported revenues for the third quarter ended Sept. 30 of $46.5 million, just slightly more than the $45.3 million the company reported in revenues for the same period the previous year.Pinnacle felt the impact of paging providers PNI and TSR...
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...
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...
NEW YORK-Standard & Poor's placed its "B+" corporate credit and "B" senior unsecured debt ratings on Pinnacle Holdings Inc. along with the company on CreditWatch with negative implications.The CreditWatch listing is based on ongoing uncertainty regarding resolution of the Securities and Exchange Commission's investigation...
WASHINGTON-As the Occupational Safety and Health Administration prepares to launch a new tower safety program aimed at curbing increased injuries and fatalities that have accompanied phenomenal wireless growth during the past decade, the agency is struggling with how to deal with a gaping loophole...
NEW YORK-In this year's RCR Wireless News Major Players Vendors listing, Nokia Corp. and Ericsson Inc. each moved up a notch, rising to first and second place respectively among equipment vendors that are net income leaders.Lucent Technologies Inc., which had previously topped the charts...
Tri-County Communications Systems sold an unspecified number of its telecommunications towers in northern New York state to Pinnacle Holdings Inc., said David Abraham & Co., which represented the seller. Details of the transaction were not released by Tri-County or Pinnacle. David Abraham specializes in...
SARASOTA, Fla.-Pinnacle Holdings Inc. said the Securities and Exchange Commission unintentionally made public its investigation of Pinnacle's independent public accounting firm, PriceWaterhouseCoopers L.L.P., regarding certain related accounting issues, and consequently caused the devaluation of Pinnacle's stock.The stock closed at $14.75 last Friday, down $2.31...
NEW YORK-A 6-percent average summer dip in the price of shares in American Tower Corp., Crown Castle International, Pinnacle Towers Inc., SBA Communications and SpectraSite Communications also reflected "a shift of investors out of telecom into what are perceived to be faster growth areas,"...
SAN JUAN CAPISTRANO, Calif.-Shorecliff Communications Inc. announced the finalists for the Tower and Site Development Industry's Annual Excellence in Business Awards, to be given out at a dinner and ceremony Oct. 30 at the Paris Hotel & Casino in Las Vegas in conjunction with...
BELLEVUE, Wash.-Pinnacle Towers Inc. signed an agreement with Advanced Radio Telecom Corp., giving ART access to approximately 480 buildings in Dallas, New York, Los Angeles, San Francisco and Washington, D.C.Pinnacle also said it signed a master lease agreement with Times Three, a subsidiary of...
Pinnacle Holdings reversed itself last week on an announcement it made earlier this month that it planned to pursue opportunities in the colocation facility business.Long a renter of space on towers, the Sarasota, Fla.-based company had said it wanted to branch out to host...
SARASOTA, Fla.-Citing unfavorable market conditions, Pinnacle Holdings Inc., a provider of communication site rental space, said it intends to postpone its recently announced public offering of common stock.The company said it may pursue alternate sources of additional financing.
SARASOTA, Fla.-Pinnacle Holdings Inc. entered an agreement to acquire a collocation facility in Dallas for $136 million, the company said.The Univision Center Building houses numerous large anchor telecom tenants and has capacity to add new ones, said Pinnacle. Collocation facilities have similar characteristics to...
LAS VEGAS-The Motorola Inc. dealer meeting last week featured the infamously hot-tempered Mike Ditka, former coach of the Chicago Bears and New Orleans Saints, and now a football commentator for CBS Sports, as its motivational speaker.Central to the theme of Ditka's speech was that...
The Federal Communications Commission proposed auction licensing and service rules for the 4.9 GHz band. The agency proposed to allocate the band for fixed and mobile services on a primary basis. Public comment is being sought on the geographic areas and spectrum blocks that...
MCLEAN, Va.-LCC International Inc. has completed the first closing of a previously announced tower sale with Pinnacle Holdings Inc.The close included 134 of the 197 towers sold by LCC to Pinnacle under an agreement announced Feb. 25, with an initial closing valued at $56...
With 3,600 owned or managed towers in its inventory, Pinnacle Holdings Inc. ranks among the largest tower companies in the industry, but the way it built its portfolio differs from its peers.Pinnacle has completed more than 300 acquisitions to reach its present tower count...
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...
SARASOTA, Fla.-Pinnacle Holdings Inc. said it has entered agreements to acquire 552 communications sites in 20 separate transactions for a total purchase price of $50 million.The transactions include about 136 owned towers and 416 managed towers and rooftops, said the company. All of the...
