As Big Media Gets Bigger, What's Left To Buy?

[Commentary] What's left for big media to buy?

Comcast could be looking for more. BTIG Research's Richard Greenfield thinks the recent floating of Liberty Media's pay TV network group, Starz, as a separate publicly traded company, would be an obvious choice. Comcast could funnel some of its Universal Pictures into the pay TV window arena. CBS? Perhaps it could use a few more few more cable channels -- especially widely distributed basic ones. Maybe even Starz. Fox has broad assets, including TV stations and cable channels. Maybe it wants a pay TV group like Starz? Maybe Disney-ABC wants Starz as well? Sony Pictures Entertainment? For years it has been the odd-man out -- no TV stations, no broadcast network, no big U.S cable presence (though it does have some international networks). It would seem to some that Sony could or should get bigger. Then again, new smart TVs -- made by Sony -- could be an in toward a new TV business model. Trouble is that few independently owned traditional media properties are available.

Big media will get bigger -- but not always in the ways we expect.