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American Tower Corporation To Purchase Los Angeles Broadcast Site from Allcom Enterprises.


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 that it has entered into an agreement to purchase the Allcom Broadcast Tower Site on Mount Wilson in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , California.

The purchase includes the existing Allcom towers and allows for the development of an additional broadcast tower on the site. Construction of the new tower will begin immediately upon closing which is expected to occur in the second quarter 2000, subject to customary closing conditions.

Jack Simison, President of Allcom Enterprises, stated, "We felt the American Tower team was the choice to take over this long-time owned site. They are broadcasters with the ability and resources to serve our existing customers and to continue our plans to construct a new tower to serve the future needs of Greater Los Angeles broadcasters."

Peter Starke, Vice President of Marketing and Development for American Tower, noted, "For years Mount Wilson has provided television and radio broadcasters with a tremendous technical advantage. We expect our new tower to be the most sought after digital television site in Los Angeles."

Including this project, 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 North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . Giving effect to pending transactions, American Tower operates approximately 10,400 sites in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area.  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 San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden  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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Copyright 2000, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1USA
Date:Apr 10, 2000
Words:453
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