T-Mobile, American Tower sign new master lease agreement
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T-Mobile US Inc. and American Tower Corp. signed a new master lease agreement covering close to a 15-year term.
As a result of the agreement, which expands T-Mobile's access to American Tower's U.S. sites, the tower company expects about $95 million in additional straight-line revenue for the full year.
Therefore, American Tower Corp. revised its outlook for full year 2020, now expecting total property revenue of $7.75 billion to $7.88 billion, net income of $1.85 billion to $1.93 billion, and adjusted EBITDA of $4.99 billion to $5.07 billion.
According to its full year 2020 guidance issued July 30, American Tower had anticipated total property revenue of $7.66 billion to $7.79 billion, net income of $1.75 billion to $1.83 billion, and adjusted EBITDA of $4.89 billion to $4.97 billion.