Deal volume among U.S. and Canadian media and telecom companies “collapsed” by 36% year over year in February, to a mere 89 transactions.
That’s the sober conclusion of a new data analysis from S&P Global Market Intelligence.
Aggregate transaction value in the sector plunged.
Just how deep was that dip? It declined to just $183.5 million in February 2023, from $11.16 billion in February 2022, when 139 deals were announced.
While that’s a significant year-over-year decline, a 12-month analysis indicates that 2023 is starting off on a rather glum note for media brokers. While there were 120 deals in January, their value comes in at roughly $60 million.
In fact, the two-month performance is significantly worse than that seen between September and October 2022.
How gloomy was the deal-making market in North America for February 2022? None of the sector’s top transactions in February reached the $100 million mark.
The largest deal was newly created Voz Media‘s $64 million purchase of Spanish Broadcasting System’s MegaTV business.
The No. 5 media and telecommunications deal in February involved Family Worship Center Church and WHKY-TV in Hickory, N.C., a $12 million transaction. However, S&P placed two deals outside of broadcast media in its rankings.
