Tuesday April 20, 10:24 am Eastern Time
Company Press Release
American Tower Corporation and Acrodyne Communications, Inc. Enter Into Agreement to Offer Turnkey Solutions to Television Broadcasters
BOSTON--(BUSINESS WIRE)--April 20, 1999--American Tower Corporation (NYSE:AMT - news) announced today that its Broadcast Tower Group has entered into an agreement with Acrodyne Communications, Inc., a leading manufacturer and installer of television transmission systems, to offer television broadcasters turnkey solutions to their analog and digital transmission needs.
Under the terms of the agreement, Acrodyne can furnish analog and digital transmission products for American Tower's Turnkey RF Transmission System, a complete broadcast package which includes the tower, transmitter, transmission line, antenna and other components. In offering turnkey solutions, American Tower will enable broadcasters to transition from analog to digital without incurring the large capital costs associated with building a safe and state-of-the-art broadcast site.
Peter Starke, Vice President of Broadcast Development, stated, ''Based on our feedback from broadcasters, there is a strong demand for American Tower to provide turnkey RF transmission solutions. Acrodyne will enable us to offer numerous economical products to broadcasters for their digital transmission needs.''
Acrodyne Industries, Inc., the operating subsidiary of Acrodyne Communications, Inc. and a publicly traded company (NASDAQ:ACRO - news), has been an established and respected manufacturer of television broadcast equipment for over 30 years. Acrodyne is a leading producer of technically advanced, high quality television transmitters.
American Tower owns, operates or is in the process of developing more than 57 broadcast tower sites nationwide. It expects to complete construction of a minimum of ten additional broadcast facilities this year including Washington, D.C., Greensboro, North Carolina, Des Moines, Iowa, and Houston, TX.
American Tower Corporation is a leading independent owner, operator and developer of broadcast and wireless communications sites in the United States and, giving effect to pending transactions, operates more than 3,200 towers in 44 states and the District of Columbia. Based in Boston, the Company has a national footprint with regional hubs in Boston, Atlanta, Chicago, Houston and San Francisco.
This press release contains ''forward-looking statements'' concerning future expectations, plans or strategies that involve a number of risks and uncertainties. American Tower wishes to caution readers that certain factors may have affected American Tower'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 American Tower. Such factors include, but are not limited to (i) substantial capital requirements and leverage principally as a consequence of its ongoing acquisitions and construction activities, (ii) dependence on demand for wireless communications and implementation of digital television, (iii) the success of American Tower's tower construction program and (iv) the successful operational integration of American Tower's business acquisitions. American Tower undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances. |