Axios Pro: Media Deals

January 03, 2023

Axios Pro Exclusive Content

Happy New Year, Media Deals readers!

🇬🇧 Situational awareness: The Guardian's offices are closed until at least January 23 following a suspected ransomware attack on its global IT systems last month.

1 big thing: M&A shrinkage

Illustration of an upside down television with antennas shaped like downward pointing trend lines

Illustration: Annelise Capossela/Axios

The deal value of media and entertainment M&A plunged in 2022.

Why it matters: Nielsen going private and private equity flooding Hollywood were among the year's notable M&A stories. Still, persistent economic jitters will keep dealmaking in the sector in the dumps, Kerry writes.

By the numbers: Deal value in the sector dropped 61%, to $142.7 billion, compared with the previous year, per Refinitiv.

  • The number of deals in the sector dipped 10%, to 3,247.
  • Deal value in the telecommunications sector dropped 35%, to $122.9 billion.

Of note: Not all sub-sectors were down. The deal value and volume in advertising and marketing were up 79% and 7%, respectively.

Zoom out: Overall global deal value and volume were down 38% and 18%, respectively, compared with 2021, Dan Primack writes.

  • Q4 was the year's slowest quarter, a stark contrast from its being the busiest in the previous two years.

The bottom line: The industry's M&A slump tracked the broader market drop that started at the top of the year. Here's Refinitiv's H1 report.

View archive