The M&A media trends shaping deal activity in 2025
The M&A media trends shaping deal activity in 2025
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Momentum is building for media M&A in 2025, with last year’s activity offering encouraging signals for what’s to come. Private equity remains active, while corporate buyers entered the year with a clearer sense of what they need from future acquisitions. Although capital remains selective, investors are increasingly drawn to sectors with a compelling growth narrative. And in today’s market, media – powered by AI, data and global reach – is perfectly positioned to provide that narrative.
2024 marked a turning point in media dealmaking. As our latest MEDIAtalk report shows, M&A activity accelerated, driven by sharper investor focus, technological shifts and rising pressure to create long-term value. These patterns point to where the market is heading, and what today’s dealmakers must do to get ahead.
Here we explore some of the key themes from the report and what they tell us about the year ahead for media M&A.
AI is no longer a differentiator. It’s now becoming a hygiene factor in deals. Across media M&A, one theme stands out: buyers are prioritising real, embedded AI capability. From social retail media to marketing tech, firms with proven AI use cases, whether in content automation, ad targeting or workflow efficiency, command stronger multiples.
As the year progresses, we expect AI to become an increasing driver of M&A activity as investors compete for scalable, AI-powered platforms that can underpin next-gen media strategies.
The US continues to lead in terms of volume and velocity, but that’s not the whole story. Cross-border M&A in the media space is rising, with dealmakers looking beyond traditional markets. The UK, Europe and high-growth regions like Africa and the Middle East are gaining attention, especially in areas such as live events, gaming and content production.
This shift reflects broader global M&A trends, and is a clear sign that tomorrow’s winners will be those who think internationally and act decisively.
After a period of defensive consolidation, we’re now entering an era of proactive growth. In recent months, private equity has largely prioritised organic performance over new deals, but we expect this to shift in the second half of 2025. As market confidence builds, we expect more bolt-on activity and fresh investments – particularly as Covid-era assets edge toward exit timelines.
Whether it’s streaming platforms bundling services, or publishers acquiring marketing tech to boost monetisation, the logic is clear: corporate M&A is increasingly about creating ecosystem advantage and positioning for value on exit.
While headline deals grab attention, much of the sector’s innovation is playing out in the mid-market M&A space. These deals are agile, often founder-led, and typically focused on high-growth segments like AdTech, Connected TV (CTV), social media and social commerce. Because many of the most promising media acquisitions last year fell into this category, this is where we expect the most interesting opportunities to emerge through the rest of 2025.
Strong content remains central to media M&A, but the real battleground is distribution. Buyers are increasingly focused on platforms with strong direct-to-consumer (D2C) infrastructure and the use data to fuel AI-driven personalisation and targeting. Whether through podcast networks, streaming platforms or niche content hubs, media mergers and acquisitions are being shaped by a desire to control not just what people consume, but how and where they consume it.
Global policy and regulation continue to influence media M&A. From trade barriers to regulatory uncertainty, political factors – especially in the US – are affecting everything from cross-border M&A execution to sector-level investment priorities. While this has slowed activity in H1 2025, dealmakers are adapting. As confidence returns, we expect deal activity to pick up in the second half of the year.
These headlines only scratch the surface. In our full MEDIAtalk H2 2024 report, we break down last year’s media M&A deals, analyse recent M&A transactions and offer deep insight into the technology trends in the media and entertainment industry shaping 2025 strategies.
If you're involved in TMT media, investment, or leadership, this is essential reading for understanding the evolving deal landscape. We trust you’ll enjoy the read.
Our Media team will also be attending Cannes Lions from 16th-18th June. If you’re heading down to the Croisette, it would be great to meet up. Please reach out to Andrew Viner, Conor Lambert or Iona Stevenson.
2024 feels like the year confidence returned to the media M&A market. After a period of subdued growth, we’re seeing a real shift in investor sentiment, with private equity leading the charge and early signs of a resurgence in capital market activity.
