Often in December money managers are watching client portfolios for year-end adjustments including tax-based transactions and hedging to preserve gains.  Most years news flow is not high.  Earnings are reported in the first half of the quarter and companies seem to be focused on operations as year-end approaches.  This does not seem to be the case in 2012.  A surprising number of transactions are taking place many seemingly driven by the fiscal cliff and the prospect of higher tax rates on dividends and capital gains in 2013.  Within the broadly defined media entertainment and communications sector there have been ...