Crown Castle International Announces Correction of Erroneous Report in Houston Chronicle
HOUSTON, Nov. 9 /PRNewswire/ -- Crown Castle International Corp. (NYSE: CCI) today announced a correction and clarification of an erroneous report in today's Houston Chronicle newspaper. Today's Houston Chronicle erroneously reported that the Italian government has cleared the way for a subsidiary of Crown Castle to buy a 49 percent interest in RaiWay SPA, a division of Italy's state-owned radio and broadcast company Radiotelevisione Italiana. This report is incorrect. Crown Castle announced on October 26, 2001 that the Italian Minister of Communication failed to approve the transaction with RaiWay and that pursuant to terms of the agreement, Crown Castle would receive the approximately $380 million it placed into an escrow account in April of this year. Crown Castle received the escrow funds on November 6, 2001 and has terminated its agreement with RaiWay.
Crown Castle International Corp. engineers, deploys, owns and operates technologically advanced shared wireless infrastructure, including extensive networks of towers and rooftops as well as analog and digital audio and television broadcast transmission systems. The Company offers near-universal broadcast coverage in the United Kingdom and significant wireless communications coverage to 68 of the top 100 United States markets, to more than 95 percent of the UK population and to more than 92 percent of the Australian population. Crown Castle International owns, operates and manages over 14,500 wireless communication towers internationally. For more information on Crown Castle International, visit: www.crowncastle.com .
Contacts: W. Benjamin Moreland, CFO
Carmen Thompson, VP Finance
Crown Castle International
713-570-3000
Ken Dennard / kdennard@easterly.com
Easterly Investor Relations
713-529-6600
SOURCE Crown Castle International Corp.
CONTACT: W. Benjamin Moreland, CFO, or Carmen Thompson, VP Finance, both of Crown Castle International Corp., +1-713-570-3000; or Ken Dennard of Easterly Investor Relations, +1-713-529-6600, or kdennard@easterly.com , for Crown Castle International Corp./