Content for streaming wars drives activity

Merger and acquisition activity in the media and telecommunication business is being spurred by content deals as the industry prepares for the streaming wars.

Related: 3 Things VOD Providers Need to Compete in the Streaming Wars

According to PwC, deals worth $30.3 billion were announced during the third quarter, up 69% from a year ago. The number of deals declined 29% to 184. The value of the deals was down 17% from Q2, but the total number of transactions was up 18%.

The total includes the combination of CBS and Viacom. Also in the broadcast sector, The Walt Disney Co. sold its share in the YES Network to a consortium that includes the Sinclair Broadcast Group, the Yankees and Amazon.

Related: Sinclair Closes Acquisition of Regional Sports Networks

“Q3 effectively marks the calm before the storm--the storm that is DTC OTT platforms, which will seismically shift the Entertainment & Media landscape,” said Bart Spiegel, U.S. technology, media & telecommunications partner at PwC.

Looking ahead to the fourth quarter and beyond, PwC said it expects to see M&A trend towards OTT-driven content and data and artificial-intelligence driven deals, while a consolidation of digital publishing platforms begins to take shape.