Media deals reach two-year high in Q3
Media and telecom deals continue to increase under the Trump administration, with PwC's latest report showing that deal volumes reached their highest point in the past two years — 238 deals total in Q3 2017.
- Seven $1 billion+ deals were announced last quarter, led by Discovery Communications Inc's announced acquisition of Scripps Networks Interactive Inc for $11.8 billion.
- Advertising & Marketing, as well as the Broadcasting and Telecommunications sub-sectors, reached two year highs in Q3.
What's next: Per Variety, Time Warner says it still expects the sale to AT&T to close by the end of 2017.
Zuck in luck: Dispelling rumors that CNN chief Jeff Zucker would be shown the door post-merger, John Stankey, the AT&T veteran who will oversee Time Warner's media businesses if the deal goes through, told Vanity Fair's Joe Pompeo via a statement that "Jeff Zucker is doing a terrific job."