The big appear to keep getting bigger as Nokia Corp. and Motorola Inc. accounted for half of the 188 million phones sold in the second quarter, according to research and consulting firm Strategy Analytics. However, such gains came at the expense of others in...
Two of the nation's largest tower operators posted second-quarter losses despite increasing revenues as they continued to move toward a pending merger. SpectraSite Inc. reported a net loss of $1.4 million, or 3 cents per share, during the quarter, compared with a net profit...
BOCA RATON, Fla.-Global Towers Partners said it has signed a definitive agreement to acquire 51 towers from Jesta Towers, a regional developer and wireless facilities owner with a focus on the Gulf Coast region. Terms of the acquisition were not disclosed because both companies...
Global Towers Partners said it has signed a definitive agreement to acquire 51 towers from Jesta Towers, a regional developer and wireless facilities owner with a focus on the Gulf Coast region. Terms of the acquisition were not disclosed because both companies are privately...
Less than a month ago, I wrote a column about how the recent lull in wireless activity (mergers, etc.) was just the calm before the storm.Boom! Did you hear the thunder?What a week! Repercussions from wireless carrier consolidation reverberated throughout the industry, affecting wireless...
American Tower Corp. and SpectraSite Inc. announced they have agreed to merge in an $11.3 billion stock-for-stock transaction. The combination would create the largest tower company in North America with a site portfolio that exceeds 22,000 towers.The merger agreement calls for SpectraSite shareholders to...
The following wireless companies had debt ratings changes by financial services firms this week.Standard & Poor's Ratings Services placed its ratings on four wireless tower companies on CreditWatch with positive implications. The companies are SpectraSite Inc., Crown Castle International Corp., AAT Communications Corp. and...
Nextel Partners Inc. said it has entered into an agreement with TowerCo Inc. to purchase, construct and own 300 cell towers for an undisclosed amount. The agreement calls for TowerCo to purchase up to 92 existing towers from Nextel Partners, predominately in the carrier's...
CARY, N.C.-SpectraSite Inc. said it has filed a statement with the Securities and Exchange Commission to offer 250,000 shares of its common stock to adjust to a market price obligation.This will fulfill a stock buyback agreement with Goldman, Sachs & Co., and the market...
Tower company SpectraSite Inc. said it lost $1.8 million in the fourth quarter, as part of its results for the period and full year. The company also revised its 2005 outlook. In 2004, the company said it achieved record revenues and net cash provided...
CARY, N.C.-Tower company SpectraSite Inc. reported results for the fourth quarter and full year ended Dec. 31, 2004, and updated its 2005 outlook. In 2004, the company said it achieved record revenues and net cash provided by operating activities of $355.1 million and $141.1...
NEW YORK-Once again, the tower operators are postponing their earnings releases for the fourth quarter. The major players, American Tower Corp., Crown Castle International and Global Signal Inc., said they are still reviewing their accounts.Others like SBA Communications and SpectraSite have not released their...
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...
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...
SpectraSite Inc. continues to ride a wave of positive momentum following its emergence from Chapter-11 bankruptcy protection earlier this year.The company followed an improved second quarter with further improvements in both revenues and net income during the third quarter ended Sept. 30. SpectraSite said...
CARY, N.C.-SpectraSite Inc. named Mark A. Slaven chief financial officer.Slaven most recently was CFO of 3Com Corp. Before that he served in several executive positions at 3Com.Gabriela Gonzalez and Steven Lilly had been serving as interim co-CFOs during the last three months.<p
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...
SpectraSite Inc. said it has purchased 191 wireless communications towers from affiliates of SBC Communications for $50 million in the final closing in its commitment to acquire SBC's leasehold and sub-leasehold interests.In all, SpectraSite purchased 319 SBC towers for $84 million."We are pleased that...
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...
Two tower companies, SpectraSite Inc. and Crown Castle International Corp., reported improved quarterly financials.SpectraSite reported improved second-quarter financial results and announced the search is on for a new chief financial officer.The company said revenues reached $87.4 million, up from $77.6 million from the second...
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...
CARY, N.C.-SpectraSite Inc. announced its wholly owned operating subsidiary SpectraSite Communications Inc. has amended its credit facility. The amendment provides for a $216.5 million basket that will allow the subsidiary to repurchase SpectraSite Inc.'s existing debt with a sub-limit of up to $175 million,...
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...
