Large media and technology deals accounted for more than a third of the record M&A activity in the second half of 2018, according to new data from Thomson Reuters published by The New York Times. Stiffening competition for media consumers led to a 440% increase in total deal value in that sector, with Comcast and AT&T leading mega-billion dollar acquisitions.

Total dealmaking surpassed $2.5 trillion during the first six months of 2018, and the proportion of large deals has surged this year. According to Thomson Reuters, companies have announced 36 transactions valued at $10 billion or more during the first half.

Meanwhile, mounting trade tensions sparked by rhetoric and tariffs imposed by the Trump administration appear to have had little effect on the bullish global dealmaking climate.  Cross-border deals totaled $1 trillion during the first six months of the year, accounting for more than 40% of all transactions.

The Times notes that if trends continue M&A volume is on pace to surpass $5 trillion this year, topping 2015 as the largest yearly total on record.

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