Media deals reach two-year high in Q3
Data: PwC; Chart: Chris Canipe / Axios
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."