Press release from GlobeNewswire (a Nasdaq OMX company)
SBA Communications Corporation Releases Information Regarding Contemplated Combination of AT&T and Leap Wireless
Monday, July 15, 2013
SBA Communications Corporation Releases Information Regarding Contemplated Combination of AT&T and Leap Wireless13:28 EDT Monday, July 15, 2013
BOCA RATON, Fla., July 15, 2013 (GLOBE NEWSWIRE) -- SBA Communications Corporation (Nasdaq:SBAC) ("SBA" or the "Company") today released certain information in light of AT&T's contemplated acquisition of Leap Wireless. As of June 30, 2013, (i) AT&T and Leap Wireless represented approximately 22% and 2%, respectively, of SBA's annualized site leasing revenue and (ii) SBA had separate leases for antenna space with each of AT&T and Leap Wireless on the same tower on approximately 325 of the Company's more than 17,500 currently owned tower sites. As of June 30, 2013, the revenue generated from Leap Wireless on these sites represents less than 1.0% of SBA's annualized site leasing revenue. The average remaining current term associated with these leases is approximately two and a half years for AT&T and three years for Leap Wireless.
Abou t SBA Communications Corporation
SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central and South America. By "Building Better Wireless", SBA generates revenue from two primary businesses - site leasing and site development services. SBA's primary focus is the leasing of antenna space on its multi-tenant towers to a variety of wireless service providers under long-term lease contracts. For more information please visit: www.sbasite.com.
CONTACT: Mark DeRussy, CFA Capital Markets 561-226-9531 Lynne Hopkins Corporate Communications 561-226-9431