HOUSTON, June 13, 2014 (GLOBE NEWSWIRE) -- Crown Castle International Corp. ("Crown Castle") (NYSE:CCI) today announced that its newly formed, wholly owned subsidiary, Crown Castle REIT Inc. ("CCR"), filed a proxy statement/prospectus on Form S-4 with the Securities and Exchange Commission ("SEC") in connection with Crown Castle's recent commencement of operations as a real estate investment trust ("REIT"). Crown Castle proposes to merge with and into CCR in connection with adopting certain charter provisions that implement REIT-related ownership limitations and transfer restrictions related to its capital stock, subject to approval by the holders of Crown Castle's common stock. Crown Castle expects to hold a special meeting of stockholders in the fourth quarter of 2014 for the purpose of voting on the proposed merger.
As previously disclosed, Crown Castle commenced operating as a REIT for U.S. federal income tax purposes effective January 1, 2014.
About Crown CastleCrown Castle owns, operates and leases towers and other infrastructure for wireless communications. Crown Castle offers significant wireless communications coverage to all of the top 100 US markets and to substantially all of the Australian population. Crown Castle owns, operates and manages approximately 40,000 and 1,800 wireless communication sites in the US and Australia, respectively. For more information on Crown Castle, please visit www.crowncastle.com . Cautionary Language Regarding Forward-Looking Statements This press release contains forward-looking statements that are based on Crown Castle management's current expectations. Such statements include, but are not limited to, plans, projections and estimates regarding the proposed merger of Crown Castle with and into CCR, the effects of the adoption of certain charter provisions and the special meeting of Crown Castle's stockholders, including the timing thereof. Such forward-looking statements are subject to certain risks, uncertainties and assumptions, including prevailing market conditions and other factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expected. More information about potential risk factors that could affect Crown Castle and its results is included in Crown Castle's filings with the SEC. The term "including," and any variation thereof, means "including, without limitation."