Ready For Media Merger Mania? An Analyst Examines Some Possibilities

[Commentary] This is the time of year when deal speculation usually percolates: Moguls always have mergers on their minds as they prepare to huddle in early July at Allen & Co’s Sun Valley gathering for the media elite.

And content companies have to be thinking more seriously than usual about their options. Their bargaining power could soon diminish if Washington regulators allow Comcast to buy Time Warner Cable, AT&T buy DirecTV, and -- perhaps -- Sprint buy T-Mobile. What deals make sense?

Janney Capital Markets’ Tony Wible tiptoed out on a limb today by making a serious attempt to answer the question -- with some potentially surprising conclusions. Here are the ones that seem to offer the greatest strategic and financial benefits: CBS and Viacom; Discovery and Scripps Networks; Disney and Discovery; and, Fox and Time Warner.