The Study On The Capital Operations In China's Media Industry

In the developed Western countries,the capital operation of media had a history of more than 100 years,and has created such as News Corp,Viacom Inc.and some other world-class media giant.However,for a long time,media,especially television and newspapers,has always acted as a role of "mouthpiece" for the party and the government in our country and it has practiced the administrative functions not the market functions.In this sense,the media industry has not participated in any real competition in the market,and the media as an independent industry has started late. With the pressure of the private capital and the impaction of the WTO,the media has gained quite great progress,boosted up its economic situations recently.At the beginning of 1990s,following the rapid development of capital market in our country and the start of media industry,some media has already begun to accumulate and circulate of money through the way of entering the capital market in order to absorb enough capital,and strength their own strength.In almost ten years,more and more companies has set foot in the media industry,accumulated and circulated of money through the way of entering the capital market.The development of media has entered a new stage.Compared with the international media giants,not only the scale of the media industry but also the strength of the media group in our country is relatively weak and small.Faced with the increasingly fierce competition in the domestic and international, faced with the challenge of the new electronic media,civil media groups have come to know that they should expedite development through setting up groups,alliances and capital operation.The capital operation has been the "booster" of speeding up the development of the media industries.However,there are several inherent problems exit in China's media industry such as management system and operation structure.As the media industry get the rapid grow and continued upgrade,these problems constrained the capital operation and the normal function of the media industry's further play in China seriously.How does the media industry can break these obstacles,developing and growing through capital operation? The successful IPO of Liaoning Publishing Group provides a valuable reference in China.