Venture capital valuations in media fell 69% in the first two months of 2026 from a year ago, according to new data from PitchBook, signaling a difficult year ahead for media and publishing companies as investors in this area take an “AI-first” approach. There was $165 million worth of VC dealmaking activity across January and February in the media sector, down from the $529.12 million during the same two-month period a year ago, according to the firm. January had 25 total deals valued at an