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Australia: Macquarie’s Axicom to buy 56 towers from Southern Cross Austereo

In the first transaction of this kind in Australia, a broadcaster is selling its towers to an independent towerco. The portfolio will help Axicom expand its footprint into five regional markets: NSW, Queensland, Victoria, South Australia, and Tasmania. The sale is for 45 transmission sites at a value of A$12.6mn (US$9.25mn). The deal also involves a long-term license agreement where Axicom will oversee maintenance while Southern Cross continues to operate from the sites and manage all radio and television broadcasters on the sites. Axicom was formerly known as Crown Castle Australia, until a Macquarie-led consortium acquired the 1,700 tower portfolio in 2015 for A$2bn.


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