DISCONTINUED OPERATIONS

6 Months Ended

Jun. 30, 2012

DISCONTINUED OPERATIONS

5. DISCONTINUED OPERATIONS

On July 13, 2012, the Company entered into an asset purchase agreement to sell certain assets to ExteNet Systems Inc. (“ExteNet”), for approximately $125 million, $100 million in cash and $25 million in the form of a promissory note (“the ExteNet Agreement”). The Company has a minority interest investment in ExteNet. The transaction involves specific DAS assets recently acquired as part of the Mobilitie Acquisition, and is expected to close in the third quarter of 2012.

The DAS network assets subject to the ExteNet Agreement, which are included in the Company’s Site Leasing segment, met both the component and held for sale criteria during the second quarter of 2012 and the results of operations associated with these assets have been reported as discontinued operations in the Company’s consolidated financial statements. The Company did not allocate any portion of the Company’s interest expense to discontinued operations.

The key components of discontinued operations for the three and six months ended June 30, 2012 were as follows:

	For the three months ended June 30,				For the six months ended June 30,
	2012		2011		2012		2011
	(in thousands)
Site leasing revenue	$	2,653	$	—	$	2,653	$	—
Income from discontinued operations, net of taxes		1,380		—		1,380		—

As of June 30, 2012, the aggregate components of assets and liabilities classified as held for sale in the consolidated balance sheet consisted of the following:

	June 30, 2012
	(in thousands)
Property and equipment, net	$	56,850
Intangible assets, net		68,150
Total assets	$	125,000