Panel says old media into new

Media deals combining old-line and new-model assets, a la CBS-CNET or Time Warner-Bebo, will happen at a steady clip in coming months, predicted several prominent dealmakers Thursday.
The moneymen, all with stakes in the media biz, appeared on a panel on the closing day of Ad Age's Advertising 2.0 confab at Gotham's New World Stages. "Time Warner has recently been trading at six times (operating cash flow), and a lot of the other big media companies are in that same area," said Dennis Miller, general partner at Spark Capital and a former cable exec. "When you're at that level, a lot of people at those companies realize they have to make some moves."
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