The number of deals in the third quarter of 2016 dropped 23% to 145, versus that of the second quarter of this year. The total value of those deals sinking 53% to $19.2 billion, according to a PwC, the business services company.
Why the drop?
Authors of the research say: “This is a trend we have seen across other industries as deal makers continue to evaluate U.S. and global political and economic uncertainties.”
The period was also lower than the third quarter of a year ago -- which posted 217 announced deals with a value of $21.3 billion.
Seven big billion dollar-plus announced deals during the current third quarter, include Verizon Communications buying Yahoo for $4.8 billion and Walt Disney’s deal for BAMTech for $1.0 billion.
Internet/information deals comprised the largest share -- $11.9 billion of the $19.2 billion -- on 42 proposed deals.
Cable was at $2.2 billion on three deals -- including TPG Capital $1.6 billion deal for RCN Corp., a cable/Internet operator, and its $650 million deal for Grande Communications.
Advertising/marketing produced the most deals -- 48 -- totaling a deal volume of $1.7 billion. Publishing deals numbered 14 and had $1.6 billion overall dollar volume.