SBA To Put Up $1.45B For 3K TowerCo Wireless Towers

Law360, New York (June 26, 2012, 3:02 PM ET) -- SBA Communications Corp. will scoop up more than 3,000 cellphone towers across the U.S. and in Puerto Rico from TowerCo in a cash-and-stock deal worth $1.45 billion to capitalize on exploding wireless data traffic, SBA said Tuesday.

By picking up the cache of 3,252 towers, SBA forecasts a cash flow boost between $93 million and $95 million for the 2013 calendar year. The new facilities, which can each accommodate multiple wireless carriers, also give SBA a stronger foothold in a market erupting with the rise of...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers