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Smaller media companies like Discovery and AMC probably won't find any buyers for a while

Comcast, Disney and AT&T have spent a combined $195 billion on deals for Sky, Fox and Time Warner, respectively, this year. Smaller media companies looking for buyers, which could include Comcast, Disney and AT&T, may have to wait until the large acquirers digest their current deals. The biggest media companies still want to eat, but first, they're going to need a break to digest.