There's a "big battle" taking place in the media industry, according to one analyst, who said it looked set to be one of the biggest sectors for mergers and acquisitions this year.
Cyrus Mewawalla, head of thematic research at analytics firm GlobalData, said there were growing tensions as Big Tech invaded the traditional media space. Speaking to CNBC last week —after Amazonthat it would buy MGM Studios for $8.45 billion — he said that more consolidation in the media industry was "inevitable."
Amazon could even be looking to acquire more companies in the sector to boost its credibility and help it compete with its biggest streaming rival Netflix, he added. "I think media will be one of the biggest sectors for M&A consolidation in the rest of this year, and you've got a whole bunch of companies that may be up for acquisition," Mewawalla said, naming four companies to watch:
Pro this is terrible news