First Avenue and FiberTower Merge

From Daily Wirelss:

Cellular/broadcast tower operators Crown Castle and American Tower, which previously created a joint venture in FiberTower, said Monday that they will merge with First Avenue Networks. First Avenue operates a “last mile” broadband wireless system in the 24/39 GHz bands.

The First Avenue/FiberTower merger is valued at approximately $1.5 billion.

First Avenue will issue 73.7 million shares worth about $873 million, reports The Street. It will bring FiberTower public under the First Avenue Networks’ ticker, FRNS. FiberTower will own 51 percent of the combined entity. It would have an installed base in 12 markets with more than 1000 sites.

First Avenue Networks (above) bought out the radio spectrum assets of bankrupt of Advanced Radio Telecom (at 39GHz) and Teligent (at 24 GHz) and now has 24/39 GHz licenses throughout the United States with deep coverage in 77 metropolitan areas.”

About Daniel Davenport

Daniel is a digital media executive with internet and broadcast experience. Daniel is currently the executive strategy director at THINK Interactive.

2 Responses to “First Avenue and FiberTower Merge”

  1. Hi ich bin Chriswab aus Bottrop !! Viele Grüsse !!

  2. Christopher King Reply May 16, 2006 at 10:33 pm

    That’s cool and all, but if you ever actually have to work for American Tower, they will kill you if you stand up to managerial abuse.

    Read the stories in these links, particularly the first one that takes you to a story at Google Finance I recently submitted.


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