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The pace of media deal-making has slowed to a crawl this year as the banking upheaval and slowdown in ad spending have held up transactions dependent on outside financing, says the Jordan, Edmiston Group investment bank, which tracks media M&A (mergers and acquisitions).
The transactions announced for the first nine months of 2008 totaled $26.7 billion, down 70 percent from $87.6 billion in the same period a year ago, Jordan, Edmiston reported.
The pace of smaller- to midsized sales, primarily of online media, interactive marketing and database information companies, has kept up with 2007, however.
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