![]() ![]() ![]() The towers will be acquired for approximately $12,300,000. These towers are all located on one site, which is the pre-eminent broadcasting site in Tucson. In a separate transaction, American Tower has agreed to purchase six towers in Tucson, Arizona from Tucson Communications Company. ATS also has agreed to fund certain capital expenditures relating to the development of the roughly 190 towers, which is expected to occur over the next 12 to 16 months. This amount is contingent upon OPM's ability to attain certain targets relating to the number of towers completed and the run-rate operating cash flow produced by those towers. All of OPM's towers are located along major highways in the southeastern United States (primarily Florida), and are intended to service the needs of various providers of non-broadcast wireless communications services.Īmerican Tower Systems will be purchasing the outstanding stock of OPM for a maximum consideration of approximately $105,000,000, the majority of which will be paid in 1998. In addition, OPM is in the process of developing an additional 160 towers which are due to be constructed during 1998. OPM is one of the fastest growing tower companies in the United States, with 54 towers currently operating and 36 towers due to be completed by year-end 1997. (ATS), a wholly-owned subsidiary of American Radio Systems Corporation (NYSE: AFM), announced today that it has reached an agreement to acquire OPM-USA, Inc. Fairfax, Virginia - OctoAmerican Tower Systems, Inc.
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