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...
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...
BOCA RATON, Florida, United States-Feeling financial pressure as wireless carriers continue to slash capital expenditures, wireless tower owner and operator SBA Communications has lowered its third-quarter guidance for earnings before interest, taxes, depreciation and amortization (EBITDA).SBA now expects to report EBITDA between US$18.5 million...
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...
BOCA RATON, Fla.-SBA Communications Corp. is going to reduce capital expenditures and new tower development activities in 2002, and suspend any material new investment for additional towers, the company said.Several offices will be closed and an unspecified number of employees will be laid off...
BOCA RATON, Fla.-SBA Communications Corp. reported strong results for the third quarter ended Sept. 30 with revenues of $63 million, an increase from the $45.4 million reported for third-quarter 2000.The company reported a net loss of $49.1 million, or $1.03 per share, compared with...
BOCA RATON, Fla.-SBA Communications Corp. reported revenues for the third quarter ended Sept. 30 of $63 million, an increase from the $45.4 million reported for third-quarter 2000.The company reported a net loss of $49.1 million, or $1.03 per share, compared with a net loss...
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...
BOCA RATON, Fla.-SBA Communications Corp. said it increased its portfolio by 210 towers in the third quarter ended Sept. 30, bringing the company's total tower count to 3,464.Of the 210 towers added in the third quarter, 133 were newly built and 77 were existing...
BOCA RATON, Fla.-SBA Communications Corp. announced Ronald Bizick, its chief operating officer, will resign from the company, effective Jan. 1, 2002, and Kurt Bagwell, currently vice president of operations for SBA, will take his place.Bagwell joined the company in February from Sprint PCS, where...
Crown Castle International Corp., SpectraSite Holdings Inc. and SBA Communications Corp. reported positive revenues for the second quarter ended June 30, but they did not escape the current telecom shakedown unscathed.All three companies laid off employees and cut back on general expenses during the...
H.O. SystemsH.O. Systems has chosen Scott Berry as vice president of professional services. His 12 years of industry experience includes executive positions at Alltel, Convergys and Cellular One. At H.O., Berry will be responsible for streamlining and growing business operations for the company. Of...
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...
The commercial wireless division of the FCC's Wireless Telecommunications Bureau allowed the Friends of the Earth and the Forest Conservation Council to withdraw a petition that claimed a tower being built by SBA Towers Inc. violated the National Environmental Protection Act. The petition is...
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...
WASHINGTON-The Small Business Administration has warned the Federal Communications Commission that the FCC may have violated a law meant to protect small businesses when it removed the requirement that a cost-recovery mechanism be in place before carriers are required to implement enhanced 911 service."Advocacy...
WASHINGTON-The Federal Communications Commission is wading through competing comments and competing economic studies as it decides whether to eliminate the cap that limits the amount of spectrum a company can control in a market, leave it in place or raise the cap to 70...
BOCA RATON, Fla.-SBA Communications Corp. reported it increased its tower portfolio for the first quarter ended March 31 by 449 towers, 182 of which were newly built, and 267 of which were existing towers acquired by SBA.The 267 towers were acquired in 21 separate...
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...
BOCA RATON, Fla.-SBA Communications Corp., a tower developer and owner, has closed on 203 of the 275 towers included in its agreement with TeleCorp PCS Inc., an affiliate of AT&T Wireless. The entire sale is expected to be finalized in the second quarter. The...
LAKE CHARLES, La.-US Unwired Inc. announced SBA Communications Corp. exercised its option to purchase up to 173 of its communication towers in the second quarter of 2001 throughout US Unwired's territory in Alabama, Arkansas, Louisiana, Mississippi, Texas and Florida.SBA also retained the option to...
LAKE CHARLES, La.-US Unwired Inc. sold 127 of its towers in Louisiana, Texas and Arkansas to SBA Communications Corp. for about $40 million.SBA paid $313,000 per tower, and US Unwired said it will lease space on the towers for an initial monthly fee of...
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...
