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 (DATE OF EARLIEST EVENT REPORTED): JUNE 11, 2001 (JUNE 1, 2001)
AMERICAN TOWER CORPORATION
(Exact Name of Registrant as Specified in Charter)
Delaware 001-14195 65-0723837
(State or Other Jurisdiction (Commission File Number) (IRS Employer
of Incorporation) Identification No.)
116 Huntington Avenue
Boston, Massachusetts 02116
(Address of Principal Executive Offices) (Zip Code)
(617) 375-7500
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Item 2. Acquisition or Disposition of Assets.
The following information serves to update the status of the ALLTEL transaction
as previously disclosed in Current Reports on Form 8-K filed by American Tower
Corporation (the "Company") on December 20, 2000 and April 17, 2001 and in a
Quarterly Report on Form 10-Q filed by the Company on May 15, 2001.
On June 1, 2001, the Company closed on the sublease of 272 towers pursuant to
the agreement with ALLTEL. These towers were used by ALLTEL primarily in
connection with its business of providing consumer wireless services. The
Company plans to lease additional space on the towers to third parties. Total
consideration in connection with this closing was approximately $81.6 million in
cash. The amount of consideration and the terms of the agreement were based upon
arms' length negotiations between unaffiliated parties. There are no material
relationships between the Company, ALLTEL or any of their respective affiliates,
officers or directors. The Company financed the transaction through available
cash-on-hand, including proceeds from its recent equity and debt financings.
For more information about the Company's agreement with ALLTEL, please see the
Company's Current Reports on Form 8-K filed on December 20, 2000 and April 17,
2001, the Company's Form 10-Q filed May 15, 2001 and the exhibits incorporated
by reference into this Current Report on Form 8-K.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(c) Exhibits
Exhibit Item
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10.1* Lease and Sublease by and among ALLTEL Communications, Inc. and the
other entities named therein and American Towers, Inc. and American
Tower Corporation, dated , 2000
10.2** Agreement to Sublease by and among ALLTEL Communications, Inc. the
ALLTEL entities and American Towers, Inc. and American Tower
Corporation, dated December 19, 2000
10.3*** Build to Suit Agreement by and among ALLTEL Communications, Inc. the
ALLTEL entities named therein, American Towers, Inc. and American Tower
Corporation, dated December 19, 2000
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* Filed as Exhibit 2.1 to the Company's Annual Report on Form 10-K for
the fiscal year ended December 31, 2000, as filed with the Securities
and Exchange Commission on April 2, 2001.
** Filed as Exhibit 2.2 to the Company's Annual Report on Form 10-K for
the fiscal year ended December 31, 2000, as filed with the Securities
and Exchange Commission on April 2, 2001.
*** Filed as Exhibit 2.3 to the Company's Annual Report on Form 10-K for
the fiscal year ended December 31, 2000, as filed with the Securities
and Exchange Commission on April 2, 2001.
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 hereunto duly authorized.
AMERICAN TOWER CORPORATION
(Registrant)
Date: June 11, 2001 By: /s/ Justin D. Benincasa
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Name: Justin D. Benincasa
Title: Senior Vice President and
Corporate Controller