Research On The Value Of Light Media Based On Real Option Theory

With the continued growth of the national economy and support of government,the media industry is developing rapidly and become the sunrise industry of economy,as a result,the rationality and reliability of the media industry valuation become the focus of concerns.Compared with the traditional industries,the media industry has its unique characteristics,so the traditional business valuation methods can not measure the value of the media industry accurately,otherwise,real option method can make up the weakness of traditional business valuation methods,therefore,bring real option theory into the media business valuation in order to make an effective attempt of the assessment of media industry.Firstly,reviews the theory of business valuation and real option theory.Secondly,definites the media industry,analyzes characteristic of media industry,and points out the problems of the media companies' valuation.On this basis,analyzes the applicability of several valuation methods and elaborates the specific proposals of media business valuation.Finally,applies the proposal to media business valuation practice of the Enlight Media and verifies the result,proves that the proposal based on real option theory is reasonable and reliable for the assessment of media companies.