M&A crystal ball
Last week, we talked about why everyone from JPM Chase to Stripe to DraftKings is acquiring media companies and audiences/communities.
And it looks like we’re just getting started.
After we published, rumors broke about PayPal potentially acquiring Pinterest (which PayPal has now refuted).
And then Penn National Gaming completed its acquisition of media company The Score for $2B. For reference, Penn National has been at the forefront of this media M&A trend, buying Dave Portnoy’s Barstool Sports in January 2020.
This trend is only going to accelerate given the LTV/CAC arbitrage.
We also share M&A predictions on the media properties Coinbase, Airbnb, American Express, and Nike should be looking at.
If you’re a corp dev team not looking at media M&A, it might be time to take a look.
I particularly like 'moral hazard'
Totally random, but the Financial Times 404 page is pretty darn good.