AT&T Plans To Acquire Leap WirelessComments Off on AT&T Plans To Acquire Leap Wireless
On July 15, 2013 American Tower Corporation released information about the company in response to AT&T’s planned acquisition of Leap Wireless. American Tower reported that for the quarter that ended on March 31, 2013 AT&T and Leap Wireless accounted for approximately 17% and 2% respectively of American Tower’s consolidated operating revenues.
“American Tower currently has separate leases for antenna space with AT&T and Leap Wireless on the same site at approximately 1,066 communications sites owned or operated by American Tower. The revenue generated from Leap Wireless on these sites represented less than 1% of American Tower’s consolidated operating revenues for the quarter ended March 31, 2013. The average remaining non-cancellable current lease term on these sites with AT&T and Leap Wireless is approximately 7 years,” American Tower reported in a recent press release.
Leap’s network covers approximately 96 million people in 35 U.S. states. Leap currently operates under the Cricket brand, a 3G CDMA network, as well as a 4G LTE network covering 21 million people in these areas, and has 3,400 employees. AT&T plans to retain the Cricket brand name and provide all current customers with access to AT&T’s mobile network.