Media M & A volume turns up in second quarter

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New York -- The level of media consolidation is picking up after falling off the last few quarters. Buyers spent $12.7 billion to acquire 145 media and information properties in the second quarter, a 17% increase compared with the same period last year, according to a report released Monday by media investment banking firm The Jordan Edmiston Group Inc. Second-quarter activity was up 48% over the 98 transactions in the first quarter of this year. There were 89 transactions in the fourth quarter of 2000 and 114 in the third quarter. In search of synergy in an uncertain economy, many strategic media companies acquired assets related to their core properties while getting rid of non-core assets, according to Jordan Edmiston. Companies with three or more announced deals in the first half of the year included Advanstar Communications Inc., Primedia Inc. and Wolters Kluwer NV.
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