Subject: [NEXTEL-1] SpectraSite In Deal To Sell Services Unit

From: Marcel <[email-masked]>
Date: Wed, 27 Nov 2002 15:08:21 -0500

SpectraSite In Deal To Sell Services Unit
http://www.wirelessweek.com/index.asp?layout=newsat2direct&starting=2&pubdate=11/27/02
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SpectraSite In Deal To Sell Services Unit

By Wireless Week Staff
November 27, 2002

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SpectraSite Communications today announced a definitive
deal to sell its WesTower subsidiary to a management team headed by the unit's
president, Calvin Payne.

The company did not disclose terms of the buyout, which is expected to close
on Dec. 31.
Like other major tower companies, SpectraSite has been looking to
focus on its core leasing business amid a general slowdown in the tower
sector.

'SpectraSite acquired its network services division in 1999
to enable it to perform under various build-to-suit contracts with certain
wireless carriers,' stated Stephen Clark, the company's president and CEO. 'Now
that those build-to-suit contracts have been completed, it is no longer
strategically imperative for SpectraSite to offer network services as a
complementary product offering to its tower leasing business.'

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