Most deals are expected to be mid-sized, as companies in emerging segments have yet to achieve meaningful scale. The possibility of a large deal cannot be entirely ruled out, though it remains less likely, they said.The last large transaction in the sector came in 2024, when Star India and Viacom18 merged to form an $8.5 billion media behemoth. Another potential industry-shaping deal, between Sony Pictures Networks India and "Deal volume in 2026 will be driven by factors such as scale/ market share, effici ...