Cable Accounts for Bulk of Q2 M&A Value, PwC Report Says
Cable companies accounted for most of Q2 M&A value in the entertainment, media and communications industries, PricewaterhouseCoopers (PwC) said in a report Wednesday. Charter Communications' planned buy of Time Warner Cable accounted for the most dollar volume of a single…
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deal, said PwC, and was one of six cable and telecom Q2 megadeals -- defined as transactions worth $1 billion or more. Liberty Broadband's investment in Charter, Verizon's acquisition of AOL, Altice's planned buy of most of Cequel Communications (also known as Suddenlink), Lightower Fiber and Fibertech Networks' combination, and Crown Castle International's buy of Sunesys were the other five megadeals. In total, the communications sector had 27 mergers or acquisitions, which is 11 more deals than in Q1. The cable industry had one more transaction in Q2 than in Q1, but with roughly $63 billion in deals, had nearly $52 billion more than in Q1, said PwC. The broadcast sector, as defined by PwC, had one less merger or acquisition in Q2, but the deal dollar volume rose, PwC said.