PWC: M&A activity expected to decline for entertainment and media

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New York—Entertainment and media merger and acquisition activity will likely decline this year, according to a report issued by consulting firm PriceWaterhouseCoopers.
“Almost all indicators suggest that E&M transaction activity in 2009 will be significantly less than the previous 2 to 3 years,” according to the report.
Entertainment and media M&A activity increased in value last year to $150.8 billion, from $110.1 billion in 2007, according to the report. Transaction volume dipped 17% to 1,000 deals in 2008, from 1,202 in 2007.
Publishing saw the biggest decline among the sectors tracked by PWC, with the deal value plummeting 86% and the deal volume dropping 37% because of uncertainty about advertising expenditures.