However, despite economic pressures, deal activity actually increased in the first half, with 404 M&A media transactions completed during the period, compared with 397 in the first half of last year.
The largest decline was seen in deals valued at more than $1 billion, with only four transactions with a combined value of $9.6 billion completed in the first half, down from 11 deals worth a combined $46.3 billion in the first half of last year.
Contributing to last year’s first-half performance was Thomson Corp.’s $18.3 billion acquisition of Reuters Group.
In the first half of this year, the largest media deal announced was Reed Elsevier’s acquisition of ChoicePoint for $4.1 billion.
Also, CBS Corp. acquired CNET Networks for $1.7 billion in the first half of this year.
In the b-to-b magazine category, 11 deals with a combined value of about $347 million were completed in the first half, down from 24 deals valued at a combined $2.3 billion in the first half of 2007.