Despite macroeconomic and geopolitical uncertainty, mergers and acquisitions (M&A) activity in the information, media, and events sectors continues to rise in 2025, particularly in the information services vertical and among subscription-based businesses, according to a new report by Collingwood, a M&A advisory focused on information, media, and events.

The report, released in October, provides insights into M&A activity in the information, media and events sectors, exploring market strategies, valuation trends, and the critical factors driving decision making today.

Information remains the most attractive model

According to the report, information remains the most attractive vertical, owing to the fact that, in this category, revenues are predominantly subscription-led.

Investors favor these businesses because to their predictable and stable revenue from long-term contracts. The model also benefits from a high retention rate, with over 90% of customers renewing each year. Finally, even after accounting for cancellations, revenue still increases because existing customers spend more over time.

Because of this stability and predictability, investors often consider information services businesses to have “the highest quality of earnings” and the strongest visibility over future revenues. Consequently, these businesses command premium valuations, with buyers willing to pay up to 20 times a company’s annual EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization).

B2B trade shows drive growth in events category

Event companies, especially in the business-to-business (B2B) space, are also attracting strong M&A demand, with buyers showing significant interest in large scale trade shows and paying up to 13 times annual EBITDA.

The emerging “condex” model, which combines conferences with exhibitions, is also gaining traction, with multiples reaching 12. These models are compelling because of the fact that they offer both educational sessions, such as panels and talks, as well as networking and product showcases.

Furthermore, they often feature 1-2-1 buyer meeting programs. These are structured, pre-arranged meetings between buyers and sellers during the event, which make networking more efficient and valuable. These programs boost audience engagement and exhibitor return on investment (ROI) through personalized interactions.

In contrast to information services and events, media models continue to struggle this year, with deal activity and valuations remaining flat or declining. However, sophisticated lead-generation marketing services models remain in demand, with buyers willing to pay a 15% premium on the EBITDA multiple paid for marketing services businesses over digital media. EBITDA multiples for marketing services can reach up to 12, compared with 10 for digital media.

AI becomes a critical consideration

One key trend highlighted in the report is the rise of artificial intelligence (AI) and the technology’s growing importance in the information and media sectors. A survey of roughly 80 buyers and investors expressly active in the information, media and events sectors, found that 31% consider AI awareness within the management team essential, with an additional 42% considering it important. Half of respondents indicated that having a documented AI strategy is important.

Going further, 31% emphasized the need for active AI product or feature development, while 41% expect to see demonstrable efficiency gains from AI adoption.

Over the past 12 months, deal activity across information, media, and events has shown a cautious but steady improvement. H1 2025 saw 121 deals, the highest since 2022, driven primarily by volumes in Q2 2025 which reached a record high of about 70, predominantly led by information transactions in the US.

The information vertical recorded 47 deals in H1 2025, up significantly from only 20 transactions in H2 2024. The figure surpassed the 2024 total of 39. The surge was mainly delivered by private equity (PE) and PE-backed trade buyers, which accounted for 70% of deals in H1 2025.

Deal activity was also strong in media, totaling 37 transactions in H1 2025. This marks a significant increase from 21 in H2 2024, and 30 in H1 2024, and represents the highest level of deal volume for media business models since 2022.

Event models, meanwhile, saw volumes decline slightly in H1 2025, totaling 37 transactions against 43 in H2 2024 and 41 deals in H1 2024.

In the fintech sector, M&A deal activity is relatively subdued this year, aside from some consolidation and selective acquisitions by media platform FINTECH.TV.

In April, the company acquired Bull Street Media, a digital financial news outlet recognized for its popular newsletters aimed at young professionals and investors.

Following that, in June, it purchased America First News (AFN) with plans to transform it into a global news network focused on in-depth reporting of US economic policies, national security, and initiatives shaping domestic and international markets.

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