Time for the return of Private Equity

Time for the return of Private Equity

In headline terms Media Mergers and Acquisitions (M&A) activity failed to pick up after a slow first half of 2023, leading to end-of-year figures significantly below that of 2022 both in terms of the number and value of deals.

Dealmaking over the past year has unsurprisingly been dampened by the cost of debt globally, which has remained high as central banks work to curb rising inflation.

Now at least, and following two years of relatively light M&A activity caused in part by the cost of debt, there are signs from the deal flow and pipeline that 2024 might see a minor rebound in activity.

This report provides a useful benchmark if you are looking to find out how your media peers are staying on top in trying times and what their next moves are.

Get analysis from our specialists, as well as predictions for the months ahead in the UK media market.

  • The UK’s media M&A landscape was dominated by the advertising and publishing sectors, which accounted for 26% and 29% of deals respectively in 2023.
  • Alongside music, 2023 saw more than $3bn being spent on audiobook and podcast-related companies. While still a niche segment, podcasts are a growing and highly lucrative medium with a remarkably high, cross-generational reach.
  • The UK continues to be a major player in games, and in 2023 10% of deals involved the video game or allied tech sectors.

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