With a relatively cool economy, CEOs in the media and entertainment sector are looking to create their own heat, with about 45% of top industry executives expecting to enter the deal market in the next 12 months, according to an EY survey.
EY, formerly Ernst & Young, surveyed about 75 top media and entertainment CEOs, chief financial officers and other C-suite executives for its Capital Confidence Barometer, part of a larger panel of 1,700 executives in 45 countries.
“We’re operating in a subdued economy,” EY global media & entertainment leader, transaction advisory services John Harrison said. “Six months ago, there was a stronger bias toward an outlook that was stronger growth — that’s gone away. People have come to grips with the fact that they have to make their own change.”
While stocks have been volatile, Harrison said a healthy debt market should help fuel deals. Although the number of transactions is expected to decline from last year, he added, their average size is expected to increase.
