American Tower Offers Info Related to Proposed Deal Between Sprint and Clearwire
American Tower Corporation (NYSE: AMT) today released information about its business in light of Sprint's (NYSE: S) contemplated acquisition of 100% ownership of Clearwire (NASDAQ: CLWR), which is subject to regulatory approval. For the quarter ended September 30, 2012, Sprint and Clearwire accounted for approximately 15% and 3%, respectively, of American Tower's consolidated operating revenues. American Tower currently has separate leases for antenna space with Sprint and Clearwire on the same site at approximately 1,800 communications sites owned or operated by American Tower. The revenue generated from Clearwire on these sites represented approximately 1% of American Tower's consolidated operating revenues for the quarter ended September 30, 2012. The average remaining current term on the long-term lease arrangements on these sites with Sprint and Clearwire is approximately nine and five years, respectively.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.