Financial Performance Evaluation Of M&A Of B-ray Media Company Limited Under The Background Of The Internet

In April 2015,the ministry of finance and the state general administration of press and publication,radio and television jointly issued the policy of guidance of development of traditional publishing and emerging fusion.Under this background,publishing industry will pay more attention on Internet.It`s most convenient way to transition to the new media is mergers and acquisitions.This article first introduces the background of Chinese publishing industry mergers and acquisitions,especially in the publishing industry in our country at present the M&A events,and the M&A characteristics are summarized.On the basis of industry analysis,This paper selects two major M&A events as case analysis,B-ray media mergers chengdu dreamworks in 2009 and Beijing roaming valley in 2013 as case analysis,to analyze its short-term and long-term financial performance.Using event study method,the added value of economic method and the method of financial indicators,this article tries to analyze the cause of the media industry mergers and acquisitions of listed companies in our country and thestrategic intent of the transformation of the Internet.The results show that: In terms of strategy,B-ray media of 2009 through the merger and acquisition of Chengdu dream project,preliminary implementation strategy of new media transformation,M&A roaming valley in 2013,to further consolidate the company`s strategy of new media transformation;In terms of financial performance,the two M&A events makes short-term media of B-raycompany`s financial performance increase.Although the influence of company's long-term financial performance has improved,but with volatility.B-ray media through the transition to the new media,closely follow the policy of "Internet +",obtained the new profit growth point,improved the competitive power of enterprises.