A Strategic Study On The Merger And Acquisition Act Of Chinese Press Groups

Since the end of 19^th century, the Western country has witnessed 5 times waves of enterprise merger and acquisition in the world. The every wave of M&A produced many large world-level enterprise groups and exercised great influence on the world economy in that time. In the global world of today, the transnational M&A occurs frequently and the model of M&A is various. The M&A in China, which started comparative lately but had amazingly speeds, is brought along with the process of market-orientated economy reform. Through M&A, Chinese industrial structure has been optimized, the survival of the fittest has arisen, and the comprehensive competitive edge of the enterprise has been upgraded. With the deepening of economy reform and the aggravating of market competition, more M&A could spread in more economic sectors and in larger scales.Chinese publishing industry has long been confined in the executive management system. The entering barriers and the geographical barriers have restricted the proper resources deployment and the outside capital is also hard to find its way in. The greatest difficulty to break the bottleneck for the industry's prosperity is to seek an all-round, multi-directional and multi-media developing approach. With the reform deepening in the cultural system, the pilot scheme of transforming the publishing sector into enterprises has been launched to upgrade the competitive capacity of the whole industry, through perfecting the modern enterprise system, enhancing the management, and integrating the business in the press groups. But in fact, the executive enforcement is still strong, the concentration of industry is still low, and the competitive edge is still weak.Therefore, this thesis intends to seek an effective approach for the leaping development of press groups basing on the angle of M&A. Firstly, the thesis discusses the definition of M&A, gives a theoretical analysis on the motives and causes of M&A, and traces back the developing process both at home and at abroad. In same time, the thesis predicts the developing trend of M&A, and focuses on researching the function of M&A in developing enterprises. And then, the thesis discusses the necessity and the feasibility of M&A of Chinese press group. Lastly, the thesis casts the systematic proposals of M&A of Chinese press group, including the developing principles of Chinese press group, the implementing conditions of M&A, and the selecting ways of M&A, as well as the exercising tactics of M&A.