Q1 2026 Media, Marketing, & Online Industry Trends

The largest transaction year-to-date in the Entertainment space and the largest transaction in Media, Marketing & Online, was the announced acquisition of Warner Bros. Discovery, a premier global media and entertainment company, by Paramount Skydance Corporation, for $108.2 billion. This transaction replaces Netflix’s $82.7 billion bid for Warner Bros in Q4 2025.

Media, Marketing, & Online transaction volume decreased from 234 deals in Q4 2025 to 226 deals in Q1 2026.

Transaction volume in the Marketing segment increased slightly in Q1 2026 over Q4 2025, from 71 to 75. The segment’s largest deal year-to-date was the announced acquisition of Clear Channel Outdoor, one of the world’s largest outdoor advertising companies, by Mubadala Investment Company and TWG Global, for $6.2 billion.

Activity in the E-Commerce segment decreased slightly from 68 deals in Q4 2025 to 64 deals in Q1 2026. eBay’s $1.2 billion announced acquisition of Depop Limited, the community-powered circular fashion marketplace where people can buy, sell and discover desirable, affordable secondhand fashion, was the segment’s largest transaction in Q1 2026.