UK Media M&A: The Only Way Is Up After An Annus Horribilis
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UK media M&A deals should bounce back this year after hitting their lowest level since the post-dot.com crash of early 2002, PricewaterhouseCoopers reckons.
Number of deals fell 36 percent last year to just 29, their worth down from €4.1 billion to €2.7 billion, according to PwC’s Media M&A Insights 2010 (data: Dealogic, Mergermarket).
But the firm is forecasting an upswing this year, saying banks - which now own several big media stakes - will push for sales as their own refinancing options run out. Tech, media and telco partner Andy Morgan: “A rapid recovery in value and volume followed the dot com crash, and therefore we expect to see a progressive return to form in 2010.”
Media partner Nick George reckons publishers, who hunkered down to deal with their immediate problems in ‘09, may once again look to buy digital advertising companies this year.
The top 2009 UK deals…
- EA’s Playfish acquisition (€281 million)
- Time (NYSE: TWX) Warner’s purchase of 31 percent of TV operator CME (€178 million)
- IN&M’s sale of Cashcade to PartyGaming (€111 million)
- Match.com’s French sale to Meetic (€107 million)
@robertandrews
Jan 18, 2010 5:00 AM ET
Posted In: Money, M&A & Venture Capital, Mergers & Acquisitions, Research & Metrics, Metrics
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