Media, Telecom Deals Value Hits Record Over Past 12 Months, PwC Finds

The first half of 2022 was “marked by the continued trajectory of strong M&A activity in the media and telecommunications sector, following the rebound in the second half of 2020,” the firm highlighted. “As we head into the second half of 2022, deal momentum continues at a vigorous pace, despite increasing interest rates, the stock market decline in the tech sector and a potential recession.”

PwC also highlighted “several emerging trends shaping M&A activity in the sector, including investment in music streaming, increasing demand for sports and the continued shift to digital advertising.” Private equity deals continue to be responsible for increasing levels of deal activity, accounting for 42 percent of deals over the past 12 months, compared with 24 percent of all deals in 2018, the report mentioned. “Private equity deals represented $194 billion of announced deal value, about three-quarters of which was concentrated in the internet and software space,” according to PwC.

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