UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) April 6, 1999
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American Telecasting, Inc.
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(Exact Name of Registrant as Specified in Charter)
54-1486988 Delaware 0-23008
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(IRS Employer (State or Other Jurisdiction (Commission
Identification No.) of Incorporation) File Number)
5575 Tech Center Drive, Suite 300, Colorado Springs, Colorado 80919
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (719) 260-5533
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NOT APPLICABLE
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(Former Name or Former Address, if Changed Since Last Report)
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ITEM 5. Other Events.
On April 6, 1999 American Telecasting, Inc. issued the following press
release:
FOR IMMEDIATE RELEASE Contact
David K. Sentman
Senior Vice President and Chief Financial Officer
American Telecasting, Inc.
Tel. (719) 260-5533
Chris Hilliard
President
Antilles Wireless, L.L.C.
Tel. (402) 346-4400
AMERICAN TELECASTING, INC. ANNOUNCES SIGNING OF
AGREEMENT TO SELL WIRELESS CABLE SYSTEMS IN
THREE OF ITS SMALLER MARKETS
Colorado Springs, Colorado, April 6, 1999. American Telecasting, Inc.
(OTC Bulletin Board: ATEL) announced today that it has entered into an agreement
with Antilles Wireless, L.L.C. ("Antilles") to sell the Company's wireless cable
channel rights and operating assets in Billings, Montana, Grand Island, Nebraska
and Rapid City, South Dakota to Antilles for up to $6.2 million cash.
The transaction is contingent upon the grant by final order of the
Federal Communications Commission of the assignment application for licenses
owned and upon consents of channel lessors for licenses leased. The transaction
is also subject to other customary closing conditions. The agreement will
terminate if the transaction is not consummated by September 30, 1999.
The purchase price is subject to a downward adjustment for expected
decreases in subscriber levels prior to closing. At closing, the Company will
receive the adjusted closing price, less $500,000 which will be held in escrow
for one year for satisfaction of any indemnification obligations.
* * * *
American Telecasting, Inc. is one of the largest operators of wireless
cable television systems in the United States, serving approximately 107,000
video subscribers in 32 markets as of December 31, 1998. The Company also
provides commercial high-speed Internet access in three markets and is a leader
in testing MDS wireless broadband access services. The Company's wireless
services use microwave frequencies licensed by the FCC.
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
AMERICAN TELECASTING, INC.
/S/ DAVID K. SENTMAN
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DAVID K. SENTMAN
SENIOR VICE PRESIDENT AND
CHIEF FINANCIAL OFFICER
DATED: April 7, 1999
