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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934.
Date of Report April 26, 2000
SBA COMMUNICATIONS CORPORATION
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(Exact name of registrant as specified in its charter)
Florida 333-50219 65-0716501
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(State or other jurisdiction Commission File Number (I.R.S. Employer
of incorporation or organization) Identification No.)
One Town Center Road, Boca Raton, Florida 33486
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(Address of principal executive offices) (Zip code)
(561) 995-7670
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(Registrant's telephone number, including area code)
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Item 5 Other Events
Boca Raton, FL and Arlington, VA; April 26, 2000: SBA
Communications, and TeleCorp PCS, Inc., AT&T Wireless' largest
affiliate, announced today an extensive "build-to-suit"
agreement for up to 200 tower facilities covering a number of
strategic markets in the United States.
The tower facilities will be constructed for SBA's ownership
across TeleCorp's domestic SunCom service area, including
Louisiana, Mississippi, Arkansas, Texas, Tennessee, Kentucky,
Missouri, Indiana, Illinois, Iowa, Michigan and Wisconsin,
over the next two years. TeleCorp will execute long term
leases to place its wireless network equipment at each site
and pay SBA an initial monthly rental fee of $1,100 per site.
Item 7 Financial Statements and Exhibits
(c) Exhibits
99.1 Press release dated April 26, 2000
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
April 26, 2000 /s/ Pamela J. Kline
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Pamela J. Kline
Chief Accounting Officer
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[LOGO OF SBA TELECORP PCS]
NEWS
FOR IMMEDIATE RELEASE
SBA COMMUNICATIONS CORPORATION AND TELECORP PCS ENTER INTO "BUILD-TO-SUIT"
AGREEMENT
Boca Raton, FL and Arlington, VA; April 26, 2000: SBA Communications, a leading
communications tower developer and owner (NASDAQ NM: SBAC), and TeleCorp PCS,
Inc. (NASDAQ NM: TLCP), AT&T Wireless' largest affiliate, announced today an
extensive "build-to-suit" agreement for up to 200 tower facilities covering a
number of strategic markets in the United States.
The tower facilities will be constructed for SBA's ownership across TeleCorp's
domestic SunCom service area, including Louisiana, Mississippi, Arkansas, Texas,
Tennessee, Kentucky, Missouri, Indiana, Illinois, Iowa, Michigan and Wisconsin,
over the next two years. TeleCorp will execute long term leases to place its
wireless network equipment at each site and pay SBA an initial monthly rental
fee of $1,100 per site.
"National affiliates are ideal partners for this type of agreement," said
Jeffrey Stoops, President of SBA. "And TeleCorp is clearly a strong player with
an aggressive plan to expand their business. We're delighted to be able to
partner with them on their new tower builds." SBA Chairman Steve Bernstein
agrees, "This is an exciting opportunity to grow our and TeleCorp's business,
and we're looking forward to a long and productive relationship with TeleCorp."
"We went through a detailed review of providers, and SBA presented the most
compelling, creative and convincing arrangement," said Gerald T. Vento, Chairman
and CEO of TeleCorp. "By striking this partnership, it allows us to focus our
time and capital resources on the core of our business, yet still have the
security and confidence that our sites will be ready on time and on budget."
SBA is a leading independent owner and operator of wireless communications
infrastructure in the United States. SBA's primary focus is the construction of
new towers and acquisition of existing towers for its own account. Since it was
founded in 1989, SBA has participated in the development of over 13,500 antenna
sites in the United States. More information about SBA can be found at
www.sbasite.com.
TeleCorp PCS, Inc. has licenses to serve approximately 16.7 million people, and
currently provides its SunCom digital wireless service in the following 28
markets: New Orleans, Baton Rouge, Lafayette, Houma, New Iberia, Thibodaux,
Hammond and Lake Charles, Louisiana; Memphis and Jackson, Tennessee; Little
Rock, Hot Springs, Russellville, Fayetteville and Jonesboro, Arkansas; Concord,
Manchester, Portsmouth and Nashua, New Hampshire; Worcester, Cape Cod, Martha's
Vineyard and Nantucket, Massachusetts; and San Juan, Ponce, Mayaguez, Humacao
and Arecibo, Puerto Rico. TeleCorp is headquartered in Arlington, Virginia. More
information about the company can be found on the Web at www.telecorppcs.com.
# # #
For additional information about SBA, please contact Jeffrey A. Stoops,
President, (561) 995-7670.
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For additional information about TeleCorp PCS, Inc., please contact Russell
Wilkerson, director of corporate affairs, at (703) 625-2069 (mobile) or (703)
236-1292 (office).
Information Concerning Forward-Looking Statements
Some information in this release is forward looking. These forward-looking
statements may be affected by the risks and uncertainties in each company's
business. This information is qualified in its entirety by cautionary statements
and risk factors disclosure contained in certain of each company's Securities
and Exchange Commission filings. Each company wishes to caution readers that
certain important factors may have affected and could in the future affect
either the company's actual results and could cause actual results for
subsequent periods to differ materially from those expressed in any
forward-looking statement made by or on behalf of either company. With respect
to pending new tower build projects, a number of factors will affect the timing
and number of new build completions, including without limitation, zoning
difficulty, carrier design changes, changing local market conditions and
weather. Neither company undertakes any obligation to update forward-looking
statements to reflect events or circumstances after the date hereof.
