Item 8.01 Other Events

On October 10, 2008, SBA Communications Corporation (the "Company") entered into a negotiated transaction pursuant to which the Company agreed to repurchase $21,000,000 in principal amount of its 0.375% Convertible Senior Notes due 2010 (the "0.375% Convertible Notes") for $14,030,000 to be paid in cash. The transaction will settle by October 17, 2008. Upon consummation of this transaction, the Company will have repurchased an aggregate of $81.5 million of its 0.375% Convertible Notes and will have $268.5 million outstanding of its 0.375% Convertible Notes.

From time to time, in order to optimize its liquidity and leverage and take advantage of certain market opportunities, the Company has and may in the future repurchase, for cash or equity, its outstanding indebtedness, including its 0.375% Convertible Notes, its 1.875% Convertible Senior Notes due 2013 and its 2005 and 2006 collateralized mortgage backed securities, in privately-negotiated transactions.

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