U.S. media deals set new record
By Erina Lin, Wednesday 3 October 2007 at 22:05 :: Media Ownership :: #650 :: rss
The U.S. general economy appears to be slowing down - the housing market seems to be on the precipice, and the stock market is experiencing bubblish volatility. However, the marketplace for media mergers and acquisitions broke a record during the first nine months this year, compared with any preceding year it has bee tracked, according to media industry investment banker Jordan Edmiston Group Inc. Wednesday.
With 637 transactions, valuing more than $95 billion in total, the first three quarters of 2007 have already tied with the whole year of 2006 in terms of the number of deals, and the deal value has far exceeded fully least year's $60.6 billion by 64 percent, according to JEGI.
The marketing services and online media sectors dominated all the deals, representing 414 transactions valued at $36 billion in total, or 65 percent of all the deals and 38 percent of total deal value. Major buyouts include Microsoft's $5.7 billion acquisition of aQuantive.
"The robust growth in Internet advertising spend has made online ad networks and technology providers attractive growth acquisitions, and a number of them changed hands in 2007," the report stated, according to Media Post.
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