2011 Key Highlights
- The largest announced transaction for 2011 was West Australian Newspapers’ acquisition of Seven Media Group, a portfolio company of Kohlberg Kravis Roberts & Co., for $4.15 billion.
- The segments with the largest disclosed median enterprise value multiples for 2011 were Broadcasting with 3.8x revenue and Internet Media at 17.5x EBITDA.
- There were 174 fi nancially sponsored transactions with an aggregate value of $11.05 billion, representing 12 percent of the total volume and 20 percent of the total value, respectively.
2011 Key Trends
- Total transaction volume in 2011 increased by 15 percent over 2010, from 1225 in 2010 to 1409 this year.
- Total transaction value in 2011 increased by 41 percent over 2010, from $38.31 billion in 2010 to $54.12 billion this year.
- The median revenue multiple rose from 1.5x in 2010 to 1.9x in 2011. The median EBITDA multiple moved slightly from 10.4x to 10.6x.
- The segment with the largest increase in volume in 2011 over 2010 was Marketing with a 29 percent increase from 332 transactions in 2010 to 428 transactions in 2011.
M&A Market Overview
- Berkery Noyes tracked 3572 transactions between 2009 and 2011, of which 1013 disclosed fi nancial terms, and calculated the aggregate transaction value to be $119.95 billion. Based on known transaction values, we project the value of the 2550 undisclosed transactions to be $25.33 billion, totaling $145.27 billion worth of transactions tracked over the past three years.
- The largest transaction tracked by Berkery Noyes between 2009 and 2011 was Comcast Corporation’s acquisition of NBC Universal, a subsidiary of General Electric Company for $22.85 billion, which was announced in 2009 and closed in 2011.
- The most active acquirer by volume in the Media and Marketing industry between 2009 and 2011 was Publicis Groupe SA with 39 transactions, 24 of which were announced or closed in 2011.
- AdMedia’s Industry Survey – 2012 Mergers and Acquisitions Prospects for Media, Marketing Services and Related Technology Firms Posted on January 10, 2012
- mergermarket Q3 Monthly M&A Insider report Posted on November 2, 2011
- Berkery Noyes releases third quarter 2011 M&A Update for the Media & Marketing Industry Posted on October 26, 2011
- Quarterly analysis of UK-headquartered private equity control deals in the £10 million to £100 million segment Posted on October 5, 2011
- Half Year Mergers and Acquisitions Trends Report for Private Equity in the Information Industry Posted on August 1, 2011
- Half Year M&A Trends Report for the Financial Technology and Information Industry Posted on July 19, 2011
- Berkery Noyes releases its Half Year M&A Trends Report for the Online & Mobile Industry Posted on July 18, 2011
- Survey of Private Equity fund managers indicates improved optimism – Rothstein Kass’s Private Equity in 2011 report Posted on May 30, 2011
- Internet Advertising Revenues Hit $7.3 Billion in Q1 ’11 Highest First-Quarter Revenue Level on Record According to IAB and PwC Posted on May 30, 2011
- VC Funding in the solar sector off to a Strong Start With Q1 Coming in at $658 Million From Mercom Capital Group – April 12, 2011
- UK Buyout market registers strongest quarter in two years From Lyceum Capital and Cass Business School’s UK Growth Buyout Dashboard – April 8, 2011
- JEGI releases its Media and Information M&A report for Q1 2011 – From Jordan Edmiston Group’s Media and Information M&A report – April 1, 2011
- Investments in green companies and technologies globally now total more than $2 trillion – From Ethical Markets Media‘S The Green Transition Scoreboard – February 22, 2011
- Market Research Report – 2010 Private Equity in the Information Industry Merger & Acquisition Trends – Valuation Metrics up 53% from 2009 – From Berkery Noyes Private Equity in the Information Industry M&A Trends Report – February 4, 2011
- US entertainment and media M&A activity has outpaced the overall US deal market in 2010 – From PwC US – January 31, 2011
- US Financial Technology & Information Industry M&A trends report shows deal value has grown by 27% since 2009 – From Berkery Noyes 2010 Financial Technology & Information M&A Trends Report – January 19, 2011
- Research shows smaller buyouts bounce back in 2010 – From Lyceum Capital and Cass Business School’s UK Growth Buyout Dashboard – January 11, 2011
- US information industry M&A report shows deal value and volume Up 36% – From Berkery Noyes 2010 Information Market M&A Trends Report – January 7, 2011
- AdMedia Partners survey forecasts an increase in traditional media and digital media M&A and improved multiples – The AdMedia Partners annual survey of senior executives – December 30, 2010