Competitor Insight #02.2007: Macquarie Communications Infrastructure Group

Publication Date	February 2007
Publisher	IE Market Research
Product Type	Report
Pages	16
ISBN Number	not applicable
Product Code	IEM00069

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£76.00
approximately: $150 | €97

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Summary

This market research report on Macquarie Communications Infrastructure Group ("MCG") provides a comprehensive analysis of MCG's strategies, operational and financial metrics. The report covers the key strategic issues facing MCG, including the de-merger of National Grid's wireless business, 3G Expansion in the UK, and acquisition of an additional 4.3% of Arqiva from MBL. We devote extensive coverage to MCG's operational metrics including the performance of its main portfolio companies: Arqiva and Broadcast Australia.

Content

Strategic Outlook
- National Grid announces de-merger of wireless business: Increased competition for Arqiva
- Arqiva to benefit from 3G expansion in the UK
- Recent developments in the industry provide opportunities and threats
- Opportunity- UK BBC digital contract will provide stable revenue
- Opportunity- Australian media reforms favour MCG
- Valuation Implications for Australian media reforms
- Issue of a fourth commercial FTA license
- Valuation implications of a fourth commercial FTA license
- Opportunity- DVB-H mobile TV
- Valuation implications of DVB-H mobile TV
- Threat- Declining popularity of television would mean reduced revenue visibility for MCG
- Threat- trend towards convergence likely to erode MCG's revenue base
Operational Summary and Forecasts
- Acquiring an additional 4.3% of Arqiva from MBL is a sound strategic move
- Small acquisition in the satellite business
- Arqiva Performance in line with forecasts
- Broadcast Australia matching forecasts
Financial Summary and Forecasts
- MCG Results at a glance
- Outlook: Stable margins and slower distribution growth
- Order book looks strong, ancillary opportunities
List of Tables
- Table 1: Future tenders where Arqiva could face competition
- Table 2: Arqiva performance relative to PDS actual and IEMR forecasts
- Table 3: Broadcast Australia actuals and IEMR forecasts
- Table A1: Key Performance Metrics and Forecasts, 2005 - 2009
List of Figures
- Figure 1: Service delivery under Traditional and Multi-play delivery Channels