Capital market activity in publicly traded media companies in the U.S., Canada and Bermuda simmered down in December 2021, as the sector raised a total of about $1.78 billion, compared to $5.82 billion in November, according to S&P Global Market Intelligence data.

The sector raised roughly $1.76 billion in debt offerings and $21.7 million in common equity offerings in the month.

AT&T Inc. unit DIRECTV Holdings LLC raised the most amount in the month, thanks to a $1.4 billion senior debt offering. With respect to common equity offerings, advertising company Stran & Co. Inc. brought in the highest amount in December, totaling $22 million.

Most of the media sector's capital raising activity in 2021 occurred earlier in the year. Comcast Corp. ended 2021 sitting at the top three spots of the largest capital raises for the sector, due to three August debt offerings that brought in $6 billion, $5 billion and $4 billion, respectively. Comcast also raised the most capital overall for the sector in 2021, with $17.07 billion in aggregate, including exchanges of several series of notes.

With respect to equity offerings, media conglomerate ViacomCBS Inc. raised the most in the year with a common stock offering of $1.7 billion as well as a $1 billion preferred stock offering.

Within the broader media sector, cable and satellite companies raised the most capital in 2021, with $42.25 billion in aggregate, followed by broadcasting companies, with $12.30 billion. That compared to $34.88 billion being raised by the cable and satellite companies and $16.47 billion by broadcasting companies in 2020.