Media and entertainment executives want deals – and they’re targeting the UK
UK media and entertainment companies are attracting interest from across the world, a new international mergers and acquisitions (M&A) survey has found.
The UK came ahead of the US, France, Canada and China to be named the most attractive investment destination in EY’s Capital Confidence Barometer report focusing on media and entertainment.
Read more: Japanese M&A deals in the UK hit $9.5bn last year
The report found that 45 per cent of media and entertainment executives expect to pursue acquisitions in the next year, despite concerns about the global economy.
EY said 84 per cent of executives expect stability or modest growth in the next year. None were anticipating strong growth, down from 23 per cent six months before the survey was carried out.
Some 66 per cent are confident in the number of acquisition opportunities available and 43 per cent expect the M&A market to improve in the year ahead.
John Harrison, EY global media and entertainment leader, said the results show that because executives feel the global economy will be “unexciting at best… they are having to look outside their base business for growth”.
Read more: Here are the companies media analysts think could bid for Channel 4
Last year saw Japanese company Nikkei acquire the Financial Times for £844m.
This year, the government is considering privatising, or part-privatising, Channel 4. Media analysts have suggested a buyer from the US is most likely.