Media M&A activity sluggish in the second quarter

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New York—Media mergers and acquisitions activity declined in the second quarter, according to data released Thursday by media M&A advisory firm Whitestone Communications.

The number of deals fell 15%, dipping to 101 from 119 in the second quarter of 2008. The value of deals fell even more, dropping 33% as the value of deals plunged to $3.092 billion from $4.641 billion.

In the trade magazines/trade show category, the number of deals fell to 11 from 19, but the value of the deals rose slightly according to Whitestone's figures: to $77 million from $63 million in the second quarter of 2008.

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