Design And Implement Of N Cable Networks Group Merger And Acquisition Project

China’s Cable TV network appeared in the nineteen sixties,in the past twentyyears has experienced the rapid development stage,it has become a new industries inthe field of radio and television.As a result of the industry management and otherreasons, the regional operating characteristics of China’s Cable TV networkenterprises obviously, there have been few mergers and acquisitions cases happenedbefore2000.Since our fifteen program first proposed the concept of "three networksconvergence", to promote the integration of telecommunication network, the Internetand Cable TV network, enterprise decision makers of Cable TV network businessrecognized: geographic segmentation operation, not the interconnection network andthe function of a single cable television network lead to a disadvantage in the "threenetworks convergence" of the competition, should establish a interoperability,standard, full-featured Cable TV network.Because of the Cable TV network investment shareholders are complex,including local Radio and Television Bureau, TV station, state-owned enterprises andso on, it involved in many aspects of interest. So it is difficult to achieve mergecompletely rely on administrative command mode. In the actual operation, throughthe mergers and acquisitions to complete the integration of Cable TV network is oneof the feasible methods.M&A is a complicated economic activity, it is full of risks.If the enterprisedecision-making layer making a value judgment and decision based on accountingdata only, the risk of failure would be great. Understanding the essence of enterprisevalue and factors influence enterprise value.To select a proper value evaluationmodel and method are important to the correct evaluation of the target enterprise value and complete the merger activities successfully.Moreover, because both sidesof M&A enterprise are different at management、 corporate culture and so on, theconflict in the process of M&A integration will inevitably arise various, lotsof failures caused by these. Thus, integration of M&A is a long-term and complex.Before the M&A, integration solution design work should be done well for enterprise,planning the integration scheme, all these are important to complete enterprise M&Asmoothly.N Cable TV network group is a provincial Cable TV network company,because of historical reasons, the status quo of N group is backbone network moreand Cable TV users less. In order to change this situation, N group had triedto develop city Cable TV network users,but resisted by the local Cable TV networkcompany, the development plan of the Cable TV network user is blocked. With thenational support policies of M&A in Cable TV network industry, part of the localCable TV network company shareholders plan to Transfer of shares before thenational introduction of integrated measures. A Cable TV network company is one ofthem. N group decided to seize this opportunity to acquire A company. Because thefounding time of A company is earlier than N group, and the asset quality is betterthan N group too, it is difficult to acquire A company. This paper uses the theory ofenterprise M&A, study the case of N group acquisitions A Cable TV networkcompany, analyses enterprise value assessment,M&A price computation,payment arrangements, identify and control the risk in M&A implementation of theacquisition scheme and so on, design and implement scheme for N group M&A activities.