Research On M & A Performance Of Listed Companies In Media Industry

Internet technology advances, bring a huge impact to many traditional industries,information dissemination are increasingly diversified, so that the general public’s increasing demands for the media, traditional media, new media customer base is split down the profitability of traditional media eager to find a maintain the way of development. Whether it is an internationally renowned media giant, or a national or provincial Chinese Media Group, will be bigger and stronger as an important strategic objective, whether it is bigger and stronger horizontal integration or fusion of old and new media, we are constantly engaged in restructuring merger. Whether companies choose which way, the ultimate measure of a series of acts the role of capital operation of enterprises, or business performance, but also is the company’s performance,whether they completed the strategic and economic objectives. People usually want two or more of the company through restructuring and merger after merger more valuable than before, although the merger will bring real benefits through, but sometimes the result is not as beautiful as the imagination, many look increasingly useful economic meaning but ultimately failed merger.This paper introduces the basic theory and performance evaluation methods commonly used in merger acquisitions. Then before the basic situation and acquisitions of listed Chinese media companies were analyzed, and through the acquisition of listed companies in Zhejiang newspaper media Hangzhou winger and Shanghai Holdfast Technology,two Internet companies case analysis, market performance cumulative abnormal return before and after mergers and acquisitions, finance performance, andEVA, obtained after M & A performance changes, and factors affecting the performance of the analysis, and then some of the problems and risks of listed media company issued a purchase made during the existence of the analysis, and the corresponding recommendations. In this paper, through the operation of China’s listed media companies and the acquisition and integration of capital markets and a series of operations to adapt to the market, the strategic transformation of a certain reference.Meanwhile, the paper also listed some of the problems the media company issued a purchase made during the existence of the analysis, and the corresponding recommendations.