Media and entertainment mergers and acquisitions activity is set to rise this year, according to a report by PricewaterhouseCoopers (PwC), presenting advisers with more opportunities in an otherwise quiet market.

The report said: "As the TMT bubble fades from memory, and the expectations of buyers and sellers become more closely aligned, the market will begin to operate more efficiently again, with a full media M&A recovery expected in 2004."