After 2008 saw US$150.8 billion in mergers and acquisitions in the U.S. media and entertainment industry, 2009 is predicted to see a significant drop, according to PricewaterhouseCoopers research, The Hollywood Reporter reported Sunday.

Traditionally the entertainment and media industry is one of the more consistently active M&A sectors, despite flailing economic conditions. However, pending mergers and acquisitions as of Dec. 31 were down by more than $90 billion, at $6.7 billion, for the same time a year earlier.

Although 2008 was an exceptional year for mergers and acquisitions, this was mainly due to the four major deals whose closures were delayed in completion from their announcement in 2006. These were the $27.9 billion sale of Harrah's Entertainment, the $25.9 billion sale of Clear Channel Communications, the $16.2 billion controlling acquisition of DirecTV by Liberty Media and the $6.2 billion merger creating Sirius XM Radio, according to the Hollywood Reporter.

While the economic climate of 2009 will leave overall spending well behind that of previous years, the number of transactions in the industry may still remain significant, according to the PricewaterhouseCoopers report.

"While the overall value of closed deals will remain below the high water marks of 2007 and 2008, overall transaction volume may prove a bit more resilient. History has shown the E&M industry to be one of the more active M&A sectors irrespective of market and economic conditions," the report states, according to the Hollywood Reporter.