Investment highlights

MCG's investment highlights include:

Stable revenue

High barriers to entry and the ability to secure long term contracts typically enable owners of communications infrastructure to earn stable revenues over the long term.

High quality investments

100% shareholding in Broadcast Australia.

Broadcast Australia is Australia's leading independent broadcast transmission service provider operating the most extensive broadcast transmission infrastructure network in Australia from approximately 600 transmission sites across metropolitan, regional and rural Australia reaching 99% of the country's population. Broadcast Australia has secured major long term contracts to supply television and radio broadcast services to the ABC and SBS.

Broadcast Australia has also benefited from the implementation of digital television services in Australia, as it is contracted to provide all of the ABC and SBS's digital transmission services. 

In addition, Broadcast Australia’s subsidiary Hostworks manages the availability, performance and running costs of the critical online presence of a significant portfolio of blue-chip businesses.

48% interest in Arqiva and National Grid Wireless.

Arqiva is a leading provider of television and radio broadcast transmission services to commercial broadcasters across the UK and is the second largest independent wireless site leasing provider in the UK. It also provides radio communication maintenance and managed services to public safety organisations in the UK and Republic of Ireland. Arqiva has access to over 3,000 sites and provides end-to-end broadcast and transmission services reaching 98.5% of the population across the UK.

In April 2007, Macquarie UK Broadcast Ventures Ltd (MUKBHL), the parent company of Arqiva Ltd, announced the acquisition of National Grid Wireless for a consideration of £2.5bn. NGW has around 5,500 sites used for mobile communications and around 574 towers used for radio and television transmission broadcasts. NGW provides services to more than 16,000 tenants.

50% interest in Airwave.

Airwave is the primary provider of secure digital radio and communications to Great Britain’s police, fire, ambulance and other public safety services, using a purpose built network that covers 100% of the population and 99% of the land area.

Attractive yield

MCG has had consistent growth in distributions since listing. At the interim results in February 2008, MCG reaffirmed guidance for distributions of 46 cents in 2008 (which has since been paid), approximately 10% growth in 2009 and for 5-10% growth in 2010.

Growth

MCG intends to invest in communications assets which will provide investors with the stable defensive characteristics of infrastructure together with the potential for solid earnings growth.

Global investment opportunities

MCG expects investment opportunities to arise as a result of the ongoing restructuring in the communications infrastructure sector globally and will actively seek opportunities to acquire broadcasting assets and other communications infrastructure.

Experienced management and board

MCG's management team and board have expert knowledge and extensive experience of the infrastructure and broadcast transmission sectors.