U.S. tower companies addressed the financial implications of T-Mobile USA’s...
U.S. tower companies addressed the financial implications of T-Mobile USA’s proposed purchase of MetroPCS. T-Mobile said Wednesday it had a deal to buy MetroPCS from its shareholders for $1.5 billion in cash and 26 percent ownership of the merged company…
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(CD Oct 4 p1). T-Mobile accounted for 7 percent of American Tower’s consolidated operating revenues for Q2 and MetroPCS 2 percent, the company said in a news release Thursday. American Tower has separate leases for antenna space with T-Mobile and MetroPCS on the same site at about 1,000 of its sites. The combined revenue from T-Mobile and MetroPCS leases at those sites represents about 1 percent of American Tower’s consolidated operating revenue for the quarter. The average remaining term on American Tower’s long-term lease arrangements with T-Mobile and MetroPCS is about nine years, American Tower said. About 1 percent of SBA Communications’ revenue in Q2 was generated by redundant T-Mobile and MetroPCS leases on the same site, company Finance Director Mark DeRussy told us. Crown Castle International said it has received about $54 million in revenue from redundant leases by T-Mobile and MetroPCS, which represents about 2.3 percent of its ‘12E revenue. CCI said that figure includes revenue from its recent deal to get control of 7,200 T-Mobile towers (CD Oct 1 p16).