section_path: History/Mergers and acquisitions
section_name: Mergers and acquisitions
paragraph_text: Mergers and acquisitions
  
  Between 1985 and 2018, about 76,720 deals have been announced in the media industry. This sums up to an overall value of around US$5,634 billion. There have been three major waves of M&A in the mass media sector (2000, 2007 and 2015), while the most active year in terms of numbers was 2007 with around 3,808 deals. The United States is the most prominent country in media M&A with 41 of the top 50 deals having an acquirer from the United States.
  
  The largest deal in history was the acquisition of Time Warner by AOL Inc. for US$164,746.86 million.