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...
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