American Tower Corporation Announces Construction of Broadcast Towers in Columbia, South Carolina and Norfolk, Virginia.Business/Technology Editors BOSTON--(BUSINESS WIRE)--April 10, 2000 American Tower Corporation Formed in 1995, American Tower Corporation is a publicly held company (NYSE: AMT) that is a leading owner and operator of wireless and broadcast communications sites in North America. Today American Tower owns and operates over 30,000 sites in the United States, Mexico and Brazil. (NYSE NYSE See: New York Stock Exchange :AMT See vPro. ) announced today it has begun construction on broadcast towers in Columbia, South Carolina Columbia is the state capital and largest city of South Carolina. As of 2006, estimates for the population of the city proper is 122,819[1]. Columbia is the county seat of Richland County, but a small portion of the city extends into Lexington County. and Norfolk, Virginia Norfolk is an independent city in the Commonwealth of Virginia, in the United States of America. With a population of 234,403 as of the 2000 census, Norfolk is Virginia's second-largest incorporated city. . The 1,765-foot Columbia tower will serve Central South Carolina South Carolina, state of the SE United States. It is bordered by North Carolina (N), the Atlantic Ocean (SE), and Georgia (SW). Facts and Figures Area, 31,055 sq mi (80,432 sq km). Pop. (2000) 4,012,012, a 15. and will be home for many of the market's leading television and radio stations. In Norfolk, American Tower has closed on the purchase of the existing WHRO-TV broadcast tower and has begun construction on a second 1,250-foot tower on the site. Peter Starke, Vice President of Marketing and Development for the American Tower Broadcast Tower Group, noted, "Demand for a new broadcast tower in the Columbia and Norfolk markets is very strong. Both projects are major multi-tenant broadcast facilities designed to accommodate analog and digital television stations, FM Radio and a full complement of wireless technologies. Broadcasters in both of these markets have clearly seen the benefit of turning over to American Tower the responsibility of designing, building, owning and operating their towers. We appreciate their confidence and trust." Both towers are being designed and constructed by the Kline Iron and Steel Kline Iron and Steel was a company based in Columbia, South Carolina. Established on February 23, 1923, as Kline Iron and Metal Co., since 1953 it is primarily known for the construction of broadcast towers. Co., Inc. of Columbia, South Carolina, a subsidiary of American Tower Corp. Each project is slated to be completed in the fall of this year. Including these projects, American Tower has approximately 40 broadcast towers in construction or development and anticipates completing construction on over 20 of these broadcast towers in 2000. American Tower is the leading independent owner operator and developer of broadcast and wireless communications wireless communications System using radio-frequency, infrared, microwave, or other types of electromagnetic or acoustic waves in place of wires, cables, or fibre optics to transmit signals or data. sites in North America. Giving effect to pending transactions, American Tower operates approximately 10,400 sites in the United States and Mexico, including approximately 300 broadcast tower sites. Of the 10,400 sites, approximately 9,000 are owned or leased towers and approximately 1,400 are managed and lease/sublease sites. Based in Boston, American Tower has regional hub offices in Boston, Atlanta, Chicago, Houston, San Francisco and Mexico City. For more information about American Tower Corporation, please visit our web sites www.americantower.com. This press release contains "forward-looking statements" concerning future expectations, plans or strategies that involve a number of risks and uncertainties. American Tower Corporation, "the Company", wishes to caution readers that certain factors may have affected the Company's actual results and could cause results for subsequent periods to differ materially from those expressed in any forward-looking statement made by or on behalf of the Company. Such factors include, but are not limited to (i) substantial capital requirements Capital requirements Financing required for the operation of a business, composed of long-term and working capital plus fixed assets. and leverage principally as a consequence of its ongoing acquisitions and construction activities, (ii) dependence on demand for wireless communications, use of satellites for internet data transmission, and implementation of digital television, (iii) the success of the Company's tower construction program and (iv) the successful operational integration of the Company's business acquisitions. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances. |
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