The Enlightenment Of Wanda Group's Cross-border M&A Of Cultural Industry

With the deepening of economic and social development,cultural industry became more and more important in promoting the restruction of economy for a country.Because of the various characteristics cultural industry has,including low consumption of resources,small environmental pollution,short income cycle,strong ability to adsorpt employment,high economic spillover effect,high priority are given by all governments on developing their cultural industry.China also promulgated a number of policies to create a favorable circumstances for cultural industry to go aborad.That cultural industries develop overseas is imperative.Now China's cultural enterprises cross-border mergers and acquisitions are countless,and Wanda is called the most successful one.Wanda has been involved in cultural industry since 2006,and now it has developed involving cultural tourism,film industry,stage entertainment,film entertainment technology,theme parks,chain children's entertainment,chain discount KTV,newspapers and magazines,art collection and so on,and the main way its cultural industry develops is M&A.This essay mainly analyzes the cross-border merger and acquisition activity of Wanda Group,using the method of literature inducting,case analyzing and comparative analysing,to explore its success reasons and experience deeply,to find out the necessary conditions of our Cultural industry to go abroad.To make recommendations of government departments promoting cultural industries,including clear strategic objectives before mergers and acquisitions,perfect management system after M &A,suitable way to integrate corporate culture and personnel after the merger,and focusing on research and development and technological innovation.These successful experiences can provide reference for our cultural enterprises going abroad smoothly,which is of great significance to reduce the risk of cross-border M & A and improve the success rate of cross-border M&A.