The price may be adjusted under certain circumstances. The price is to be paid in cash and virtually all of the net proceeds from the sale are expected to be used to reduce SBA debt. The companies anticipate the sale will close in stages between May 9 and Sept. 30.

The antenna towers include essentially all of SBA's tower assets in the Western part of the country, including Michigan, Wisconsin, Iowa, Missouri, Oklahoma, part of Illinois and most of Texas. SBA plans to focus its tower ownership in the eastern third of the country.

SBA owns and operates wireless communications infrastructure in the US, garnering revenue from two main businesses--site leasing and site development services. The company's main focus is leasing antenna space on its multi-tenant towers to a variety of wireless service providers under long-term leases.