M&A Deal Summary

American Tower Acquires OmniAmerica

On November 23, 1998, American Tower acquired communications company OmniAmerica from iHeartMedia for 397M USD

Acquisition Highlights
  • This is American Tower’s 1st transaction in the Communications sector.
  • This is American Tower’s 6th largest (disclosed) transaction.
  • This is American Tower’s 1st transaction in the United States.
  • This is American Tower’s 1st transaction in New Mexico.

M&A Deal Summary
Date 1998-11-23
Target OmniAmerica
Sector Communications
Buyer(s) American Tower
Sellers(s) iHeartMedia
Deal Type Divestiture
Deal Value 397M USD

Target

OmniAmerica

Cedar Crest, New Mexico, United States
OmniAmerica, Inc. is a telecommunication tower development company.

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Buyer(S) 1

Buyer

American Tower

Boston, Massachusetts, United States
Category Company
Founded 1995
Sector Real Estate
Employees5,643
Revenue 11.1B USD (2023)
DESCRIPTION

American Tower is an independent owner, operator, and developer of wireless and broadcast communication real estate. The Company's global portfolio includes over 99,000 owned or managed sites and is experiencing steady growth. In addition to leasing space on towers, American Tower provides customized collocation solutions through our in-building systems, outdoor distributed antenna systems and other right-of-way options, managed rooftops and services that speed network deployment. American Tower was founded in 1995 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 1 of 15
Sector (Communications) 1 of 12
Type (Divestiture) 1 of 2
State (New Mexico) 1 of 1
Country (United States) 1 of 12
Year (1998) 1 of 1
Size (of disclosed) 6 of 8
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-07-06 CommSite International

Vienna, Vermont, United States

CommSite International is an antenna site development and site management company.

Buy $39M

Seller(S) 1

SELLER

iHeartMedia

San Antonio, Texas, United States
Category Company
Sector Media
Employees9,180
Revenue 3.8B USD (2023)
DESCRIPTION

iHeartMedia is a diversified media and entertainment company with three reportable business segments, iHeartMedia, Americas outdoor advertising, and International outdoor advertising. iHeartMedia is based in San Antonio, Texas.

DEAL STATS #
Overall 1 of 4
Sector (Communications) 1 of 1
Type (Divestiture) 1 of 2
State (New Mexico) 1 of 1
Country (United States) 1 of 4
Year (1998) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1996-01-01 OmniAmerica

Cedar Crest, New Mexico, United States

OmniAmerica, Inc. is a telecommunication tower development company.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-05-04 Jacor Communications

Covington, Kentucky, United States

Jacor Communications Company, a media holding company, provides radio broadcasting and related services to radio broadcasting companies in the United States.

Buy -
Mergr

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