TMT deal value falls in first quarter of 2022
Global M&A volume was $63.5 billion for the media and entertainment sector in the first quarter of 2022, according to Refinitiv.
Why it matters: That's a 10% drop from the year prior. But global M&A overall fell 22.6% to just above $1 trillion in the first quarter.
Details: Telecom deals were down 4% to $39.7 billion. But other media sectors were up.
- Broadcasting deals were up twentyfold to $11.6 billion.
- Motion pictures and audiovisual deals were up 22% to $5.8 billion.
Yes, but: Q1 was one of the most complex, challenging quarters ever due to Omicron, the war in Ukraine, inflation and a public equities pullback, Axios Pro Rata's Dan Primack writes.