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Lack of Visibility Slows M&A.

Publication: Min's B to B
Publication Date: 13-JUL-09
Format: Online
Delivery: Immediate Online Access

Article Excerpt
Few Quick Pickups Among 1H b2b Deals, Trend to Continue

Perhaps the most surprising thing about the media M&A markets in the first half of 2009 is that they weren't quite as bad as one might have expected. A series of reports on investment among integrated media as well as digital properties in the first six months of the year shows a greater decline in overall dollar value than in levels of activity. After the initial shock of the economic collapse in late 2008 and a virtual freeze on spending in early 2009, companies are starting to think about long-term strategic positioning again.

According to Jordan Edmiston Group Inc.'s tally of first-half '09 deals, the number of transactions fell from 426 in 1H 2008 to 300 in 1H 2009, with valuation plummeting from $22.5 billion to $5.4 billion. Not surprisingly, strategic buyers are looking to shore up their digital positions, so the strongest segment of M&A activity (in terms of number of deals) was online media and technology....

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