If Trump Wins: The Hollywood M&A That Could Follow
The deals the CEOs at the studios and streamers want (and should want) — and what they have to do to get them
Entertainment Strategy Guy offers data-driven analysis of Hollywood for The Ankler every other Thursday (for paid subscribers only). He recently wrote about who should win Disney’s CEO seat based on performance, how animated kids’ films are succeeding almost no matter what and why Tubi’s rise should worry Hollywood.
Say this for Hollywood’s leaders: They’re not hiding their desire for a dealmaking frenzy. In the last few months, mergers and acquisition speculation has roared back into the news. Just look at these recent headlines:
Back in July, Warner Bros. Discovery CEO David Zaslav was asked what he thought about the presidential race, and he replied, “We just need an opportunity for deregulation, so companies can consolidate and do what we need to be even better.” As the Hollywood Reporter distilled it into a headline: “David Zaslav Says He’s for Any Presidential Candidate Who’s More M&A Friendly.”
M&A is not typically a campaign issue, but in the unprecedented 2024 election season, heck, who will lead the Federal Trade Commission is an actual policy debate. Although Democrats are typically perceived to be the party of greater antitrust scrutiny and Republicans more laissez faire, this notion of whether we should have more or less consolidation of corporate power does not fall neatly along ideological lines. In yet another weird twist, JD Vance, the Republican Vice Presidential candidate, has praised FTC chair Lina Khan whose aggressive antitrust stance explains why C-suites are hoping whoever wins will replace Khan and DOJ antitrust head Jonathan Kanter.
The election, now just 26 days away, is precisely why M&A speculation has been surging alongside interest in the campaigns. The ultimate winner will have a huge impact on whether or not future mergers get a green light or are fought like hell.
Nov. 5, then, represents a unique turning point for business strategy. Today, let’s discuss what another Trump administration could mean for Hollywood M&A.
In this article, you’ll learn:
The one thing any company must do to get M&A approved in a second Trump administration
What we can learn from Trump’s first term in terms of dealmaking
Four insights that inform the future of M&A under Trump
The Hollywood companies that Big Tech is eyeing if they have the chance
The three things Hollywood conglomerates will be seeking in any deals
Who’s a buyer, a seller — or likely sitting things out
The two most strategically valuable companies to almost any acquirer
The entertainment sector most likely to suffer in a hot M&A market
