American Tower: Difference between revisions

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{{short description|American communications infrastructure company}}
{{Infobox company
| name = American Tower Corporation
| logo = American Tower Corporation logo.svg
| type = [[Public company]]
| traded_as = {{ubl|{{NYSE|AMT}}|[[S&P 100]] component|[[S&P 500]] component}}
| founded = {{start date and age|1995}}
| hq_location hq_location_city = {{nowrap|[[Boston, Massachusetts]], U.S.}}Massachusetts
| hq_location_country = United States
| owner =
| key_people = Tom Bartlett ([[Chairman]], [[CEO,]] and [[President)<br />(corporate Rodney M. Smith ([[CFOtitle)|President]])
| industry = {{ubl|[[Real estate investment trust]]|Communication Servicesservices}}
| revenue = {{increase}} {{US$|9.3564 billion|link=yes}} (2021)
| operating_income = {{increase}} US$3.1321 billion (2021)
| net_income = {{increase}} US$2.5676 billion (2021)
| assets = {{increase}} US$69.8879 billion (2021)
| equity = {{increase}} US$9.0691 billion (2021)
| num_employees = 6,378 (2021)
| website = {{URL|americantower.com}}
| footnotes = <ref name=10K>{{cite web | url=https://sec.report/Document/0001053507-22-000017/ | title=American Tower Corporation 2021 Form 10-K Annual Report | publisher=[[U.S. Securities and Exchange Commission]]}}</ref>
}}
[[File:American Tower wireless tower Belleville Michigan.JPG|thumb|upright|right|American Tower wireless tower, [[Belleville, Michigan|Belleville, MI]]. Former [[AT&T Long Lines]] [[microwave radio relay]] tower, now repurposed]]
 
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It is ranked 375th on the [[Fortune 500]] in 2022.<ref>{{Cite web | url=https://fortune.com/fortune500/american-tower/ | title=Fortune: American Tower | publisher=[[Fortune (magazine)|Fortune]]}}</ref>
 
As of December 31, 2021, the company owned 199,330 communications sites, including 27,494 sites in the U.S. and Canada, 74,813 sites in [[Asia]], 29,722 sites in [[Europe]], 21,455 in [[Africa]], and 45,816 sites in [[Latin America]].<ref name=10K />
 
== History ==
The company was formed in 1995 as a unit of [[American Radio Systems]]. In 1998, American Radio Systems merged with [[CBS Corporation]] and completed the [[corporate spin-off]] of American Tower. The first CEO of American Tower was [[Steven B. Dodge]], remaining in the position until resigning in 2004. Following the merger, American Tower began international expansion by establishing operations in [[Mexico]] in 1998 and [[Brazil]] in 1999.
 
Around 2000, the company began purchasing numerous [[AT&T Long Lines]] microwave [[telephone]] relay towers.<ref>[https://www.engineeringradio.us/blog/2011/03/bell-system-microwave-relay-system/ Bell System microwave relay system] Engineering Radio; March 8, 2011.</ref> Upon acquisition of these sites from the now defunct [[AT&T Communications, Inc.]], American Tower began repurposing the towers for use as [[cell towers]], and leasing [[Antenna (radio)|antenna]] space to various American cell phone providers and private industries. Then, most of the former AT&T Long Lines sites had their [[horn antenna]]s removed, either by [[helicopter]] or by [[crane (machine)|crane]], to make room for more antennas. Since AT&T's Long Lines Program was decommissioned in the 1980s, and the company no longer had any use for the towers themselves, American Tower now owns most of these tower structures across the entire continental [[United States]], totallingtotaling 42,965 in 2022.<ref>{{Cite web|date=2022-08-30|title=Top 100 Tower Companies in the U.S.|url=https://wirelessestimator.com/top-100-us-tower-companies-list/|access-date=2022-10-27|website=Wirelessestimator.com|language=en}}</ref>
 
In 2004 [[James D. Taiclet]] was named [[CEO]]<ref>{{Cite web|title=DEF14A|url=https://www.sec.gov/Archives/edgar/data/1053507/000119312515123562/d875061ddef14a.htm|access-date=2022-10-27|website=Sec.gov}}</ref> and held the title until 2020.<ref name=CNCB>{{Cite web|last=Imbert|first=Amanda Macias,Fred|date=2020-03-16|title=Lockheed Martin's Hewson to step down as CEO|url=https://www.cnbc.com/2020/03/16/lockheed-martins-hewson-to-step-down-as-ceo.html|access-date=2022-10-27|website=CNBC.com|language=en}}</ref>
 
In 2005, American Tower acquired [[SpectraSite Communications]], expanding its global portfolio to over 22,000 owned communications sites, including over 21,000 wireless towers, 400 [[Radio masts and towers|broadcast towers]] and 100 in-building DAS ([[Distributed antenna system|Distributed Antenna System]]) sites. The merger further established American Tower's position as one of the largest tower ownerowners and operators in North America.<ref>{{cite news | url=https://www.marketwatch.com/story/american-tower-to-acquire-spectrasite-in-31-bln-deal | title=American Tower to acquire SpectraSite | first=Jeffry | last=Bartash | work=[[Marketwatch]] | date=May 4, 2005}}</ref>
 
Between 2007 and 2012, the company expanded internationally with operations in [[India]], [[Peru]], [[Chile]], [[Colombia]], [[South Africa]], [[Ghana]] and [[Uganda]].<ref>[https://www.itweb.co.za/content/6GxRKMYDDWz7b3Wj MTN, American Tower Corp join forces] ITweb; December 9, 2011.</ref>
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In 2013, the company acquired Global Tower Partners for $4.8 billion. This acquisition added sites to the U.S. portfolio and added operations in [[Costa Rica]] and [[Panama]].<ref>{{cite press release | url=https://www.businesswire.com/news/home/20130906005393/en/American-Tower-Corporation-Announces-Agreement-Acquire-Global | title=American Tower Corporation Announces Agreement to Acquire Global Tower Partners | publisher=[[Business Wire]] | date=September 6, 2013}}</ref>
 
In 2020, Tom Bartlett was named CEO after Taiclet left to become the CEO of [[Lockheed Martin]].<ref name=CNCB />
 
In 2021, the company agreed to acquire the European and Latin American tower divisions of [[Telxius]] from parent company [[Telefonica]], comprising approximately 31,000 communications sites for $9.6 billion. The acquired sites were located in Spain, Germany, Argentina, Brazil, Chile, and Peru.<ref>{{cite press release | url=https://www.telefonica.com/en/communication-room/telefonica-sells-telxius-tower-division-to-american-towers-corporation-at-record-multiples-for-7-7-billion-euros/ | title=Telefonica sells Telxius tower division to American Towers Corporation at record multiples for 7.7 billion euros | publisher=[[Telefonica]] | date=January 31, 2021}}</ref><ref name=10K /> Later in 2021, American Tower acquired [[CoreSite]] for $10.4 billion, adding 27 data center facilities to its holdings,<ref>{{Cite press release | url=https://www.businesswire.com/news/home/20211228005115/en/American-Tower-Completes-Acquisition-of-CoreSite-Realty-Corporation | title=American Tower Completes Acquisition of CoreSite Realty Corporation | publisher=[[Business Wire]] | date=December 28, 2021}}</ref><ref>{{Cite news | url=https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/american-tower-completes-coresite-realty-acquisition-68227699 | title=American Tower completes CoreSite Realty acquisition | first=Ali Imran | last=Naqvi | work=[[S&P Global]] | date=December 29, 2021}}</ref> to position the company to become a world leader in [[5G]].<ref>[https://www.cnbc.com/2019/08/01/american-tower-ceo-the-5g-rush-lengthens-and-strengthens-our-growth.html "Cell tower CEO explains how the 5G rush 'lengthens and strengthens' our growth rate" by Tyler Clifford; CNBC; August 1, 2019. Accessed October 27, 2022]</ref><ref>[https://www.entrepreneur.com/business-news/is-american-tower-a-winner-in-the-5g-industry/372937 "Is American Tower a Winner in the 5G Industry?" by Imon Ghosh; Entrepreneur; May 26, 2021. Accessed October 27, 2022]</ref>
 
== References ==
{{Reflist}}
 
== External links ==
*{{Official|https://www.americantower.com}}
{{Finance links
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