American Tower

American Tower Corporation

Industry: Business Services

Headquarters: Houston, TX


American Tower (NYSE: AMT) is a wireless and broadcast communications infrastructure company. Its primary business is leasing antenna space on multi-tenant communication towers to wireless and broadcast companies. In 1994, the wireless communications industry was highly fragmented and provided a unique consolidation opportunity in a high growth industry. Recognizing the opportunity, Fred Lummis led the acquisition of American Tower Corporation, a small Texas-based owner and operator of wireless communications towers, and became Chief Executive Officer.  At the time, American Tower owned and operated 194 towers, primarily in Texas and Louisiana. As CEO, Fred recruited a new team of senior executives and managers, actively searched for high quality add-on acquisitions and managed the development of the company’s systems and controls. Through a combination of organic and acquisition growth, American Tower grew from the original Texas operations into the largest independent tower owner in the United States. In 1998, American Tower owned and operated 950 towers in 32 states and was sold to a strategic buyer, which took the name American Tower Corporation. American Tower Corporation (NYSE: AMT) continues to trade on the New York Stock Exchange and currently manages a portfolio of over 20,000 wireless and broadcast communications towers. Mr. Lummis continued to serve on the Board of Directors of AMT until 2007.