Media and telecom M&A activity was lively in the first half of 2022 with deals for the 12 months ending May 15 totaling 1,014, up 28% year-on-year, with a record total value $469 billion.
The tally was inflated by Elon Musk’s high-profile $44 billion bid for Twitter and Microsoft’s planned $68 billion acquisition of Activision Blizzard.
Neither deal has closed yet.Music, sports and digital advertising deals are likely to continue brisk, according to PwC’s latest bi-annual MA& survey, which is released each June and December.
But deal activity has recently slowed among major media companies following a peak driven by content and technology acquisitions to fuel expansion of streaming services.The first half saw Amazon’s purchase of MGM and the Warner Media-Discovery merger close within weeks of each other this spring, among a spate of deals focused on acquiring IP that can be monetized across platforms and geographies.“I think expecting another record-setting six months or a year for M&A to continue at this pace that we just saw over this trailing 12 months may be challenging given the environment,” said Bart Spiegel media and telecoms deal partner.
Read more on deadline.com
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