A M&A activity dropped last year to its lowest level since the dot com crash, data from accountants PricewaterhouseCoopers shows today.
Just 29 UK deals, worth a combined €2.7bn (£2.39bn), were completed in the sector last year, a drop of 36 per cent compared to 2008.
But the firm predicts a surge in media deals this year, thanks to the economic recovery, companies reducing their debt burden and the transformation of the media industry.
“Traditional advertising revenues are still eroding and old media companies have to transform to survive,” said PwC media partner Nick George. “This could include buying new companies that offer digital services or products, or swapping assets to become more efficient and gain ground in a particular field.”