NEW YORK (TheStreet) --With AT&T (T) - Get Report announcing on Saturday that it agreed to purchased Time Warner (TWX) for $85.4 billion, market watchers have asked whether another substantial merger could be on the horizon in the media space.

Wedbush Securities media analyst James Dix commented on the likelihood of another similar deal between two significant media companies during Monday morning's "Squawk on the Street" on CNBC.

"If you go across the large-cap media space, CBS (CBS) and Viacom (VIAB) with common voting control already in discussions about a merger, I think this probably slightly increases the odds of that happening," Dix said.

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Adding that the proposed deal between AT&T and Time Warner provides added incentives for CBS and Viacom to explore a deal further and move forward with one.

"For Fox (FOXA), they have already been indicating that they were interested in doing more acquisitions as opposed to being a seller. You have new generations of family management there, so I tend to think there's not a lot of implications for that," Dix explained.

Beyond those, Dix doesn't see other significant scale players like Time Warner that a wireless company, or another type of distributor, could do a similar kind of deal with.