Entertainment, Media and Communications Deal Insights: Third quarter 2015

November 2015
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US Entertainment, Media and Communications Deal Insights: Third quarter 2015

At a glance

Deal volumes continue to stay the course with deal values declining in the absence of cable megadeals. PwC provides a summary of third quarter 2015 deal activity, megadeal activity and an outlook for key sectors.

Coming off a strong Q2, deal volumes during Q3 met some headwinds, declining by 6% to 207 deals. While year-to-date deal volumes trail 2014 by 4%, quarterly volumes remained above 200 for the eighth consecutive quarter. Broadcasting has reemerged in the current quarter as a significant contributor to deal volume and value. Deal activity in the Communications sub-sector continued its momentum from Q2’15, with deal volumes remaining strong. Recreation & Leisure sub-sector saw a slow-down in deal volume, from 29 in Q2’15 to 15 in Q3’15, a decline of 48%. Despite this, deal value increased by 73%

Spotlight article

Incentive Auction deadline looms:
What broadcasters need to know about evaluating the value of their spectrum

Following a long journey, the FCC Incentive Auction is finally upon us. On October 13th, the FCC released a set of public notices that set in motion the official start of the auction. Broadcasters have until December 18th, 2015 to submit an application indicating their interest to participate in the auction and will then have until March 29, 2015 to commit to their preferred form of potential relinquishment of their spectrum. This auction presents an unprecedented opportunity for broadcasters to potentially monetize their spectrum. While the potential proceeds from participating in the auction could be significant, it is imperative for broadcasters to have a robust and well thought our framework for assessing their auction strategy. This timely article highlights key considerations for broadcasters to ensure a successful outcome as they prepare for the auction.

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