@ DH: The M&A Market: What’s Left?

My personal learning of the day? I speak in a completely different language than investment bankers and financiers. So I learned from my surprise appearance on a panel at DH. The M&A panel was short of panelists and I was pulled in five minutes before, so I did my best..

The other panelists were Michael Montgomery, Head of Media banking at Montgomery & Co; Keith Bencher, VP, Strategy & Development, CNET Games and Entertainment; Peter Levin, president of Bellrock Media; and moderated by Suan Jen Yung, Managing director, TD Securities.

The overarching sentiment of the panel: there isn’t much left to buy in the mid to big deal level, especially in the consumer Internet space. And then, the interesting dynamic of big media companies buying smaller and smaller companies.

My general frustration with this, as with the related New York Times story where I was quoted couple of weeks ago, is that M&A is not the sole purpose of the digital media industry, or the entrepreneurs, but that seems to be prevailing wisdom now. Where are the companies being built to last?

I can write on and on about that, but I’ll leave you with that germ of a thought for now….

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