Media industry still confident about future, says survey

LONDON - Media, telecoms and technology executives remain confident about the resilience of their sectors despite the global economic malaise, according to a study by merger and acquisitions specialist Cronos Partners.

DavidO’Reilly, founding partner of Cronos Partners
DavidO’Reilly, founding partner of Cronos Partners

In a survey of more than 100 industry personnel, almost three out of four expected to hit double-digit growth targets in the next two years.

Although 87% of respondents said the credit crunch had hampered their ability to raise capital, 59% said they are still confident of being able to secure funding for future acquisitions.

Just under two out of three executives questioned (64%) saying they expected acquisitions rather than organic growth to be the source of prosperity.

Most of those questioned (70%) said they expected the current market conditions to lead to more management buy-ins and buy-outs, as the value of assets decreases.

David O’Reilly, founding partner of Cronos, noted that British companies have been highly attractive to international investors in recent months. He expects more transactions to follow in hot sectors such as B2B publishing, digital marketing, software and wireless communications.

The survey involved direct questions posed by Cronos Partners to 260 media, telelcoms and technology executives, with 107 responses received.

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