Deal volume among U.S. and Canadian media and telecom companies collapsed 36.0% year over year in February, to 89 transactions, according to S&P Global Market Intelligence data.
Aggregate transaction value in the sector plunged to $183.5 million from $11.16 billion in February 2022, when 139 deals were announced.
Last month's deal tally also represents a sequential decline of 25.8% from the 120 deals announced in January.
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None of the sector's top transactions in February reached the $100 million mark.
The largest deal was Spanish-language news channel Voz Media Inc.'s $64.0 million purchase of Spanish Broadcasting System Inc.'s MegaTV business. The acquisition, completed Feb. 14, included MegaTV, a television network operating in the U.S. and Puerto Rico, and certain associated real estate.
Online auction marketplace operator Auction Technology Group PLC's $40.0 million acquisition of Vintage Software LLC, completed on Feb. 7, was last month's second-biggest deal. Jackson, Mo.-based Vintage Software operates as estatesales.net, a U.S. estate sales listing site.
Tech investor and Tesla Inc. CEO Elon Musk's $48.06 billion purchase of a majority stake in microblogging platform Twitter Inc. is the sector's largest deal over the past 13 months. The transaction went through a court battle, with Twitter and Musk's actions now the subject of an ongoing Federal Trade Commission probe.
The second-biggest transaction was hedge fund manager Standard General LP's take-private deal for broadcasting company Tegna Inc., which is facing regulatory delays.
