The second quarter of this year saw 232 merger and acquisition deals in the U.S. media and telecommunications sector, according to PwC, down 9 percent on Q1 but higher than the 192 recorded in the same period last year.
The reported deal value in the period, meanwhile, was $18.8 billion, 81 percent higher than the first quarter, according to the firm’s US Media & Telecommunications Deals Insights report. The second quarter included five deals greater than $1 billion in value, led by Sinclair Broadcasting’s acquisition of Tribune Media.
“Deal activity in 2017 continues to outpace 2016 as market participants look to secure their footing in the digital value chain and position themselves in anticipation of regulatory changes,” said Bart Spiegel, partner for media and telecommunications deals at PwC.
Advertising and internet and information take the lead in terms of deal volume (64 and 51, respectively). There were nine deals in the broadcasting space, valued at $3.9 billion; two in cable, for a $2.4 billion value; and 16 in film/content, valued at $1.5 billion.