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Houston Rockets deal leads media M&A in September

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Houston Rockets deal leads media M&A in September

This S&P Global Chart Watch examines merger and acquisition activity in the media, new media and communications sectors in September.

Businessman Tilman Fertitta agreed to acquire Houston-based Rocket Ball Ltd., owner/operator of the NBA team Houston Rockets, from Leslie Alexander for $2.2 billion. The deal marked September’s largest M&A deal in the media sector, according to data collected by S&P Global Market Intelligence.

Fertitta, a lifelong resident of the Houston area, also owns Landry's Restaurants Inc. and Golden Nugget Casinos and Hotels. In a news release, he said that this acquisition was a "dream come true."

The transaction, which includes the operation of the Toyota Center Arena, requires the approval of the National Basketball Association's Board of Governors.

All told, 41 media deals were announced in September, down significantly from 77 deals in August. The aggregate deal value, however, did not see much change as it only slipped to $3.02 billion from $3.17 billion.

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