We saw some extraordinary deal-making as we entered the second half of the decade, with global meeting local, and the lines between Pay TV, broadcasters and streamers starting to blur. We review the macro business trends that explain global sports streamer DAZN acquiring the Australian Pay TV operator Foxtel, the broadcaster RTL Group acquiring Pay TV platform Sky Deutschland, Comcast spinning off its cable networks but keeping NBCUniversal (including Peacock), and Netflix and Prime Video hosting TF1 and France Télévisions linear channels respectively. We investigate the rationale driving partnerships, re-organisations and M&A in the TV market today. What are the common denominators that help us predict the next big deal?