Walt Disney and Westinghouse have turned the spotlight on media lending this week, announcing broadcast network acquisitions that could add as much as $20 billion in loan demand to what already is one of the most active sectors for bank financing.

The deals are the latest in a wave of consolidations driven largely by regulatory changes. Analysts said the $19 billion Disney deal for Capital Cities/ABC Inc., in particular, will spur other deals, as specialized movie producers, cable companies, and telephone companies forge alliances in hopes of matching the conglomerates' ability to produce, format, and distribute entertainment products under one corporate roof.

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