Study On Motivation And Consequences Of Cross-industry Mergers And Acquisitions In Media Enterprises

With the rapid development of Internet,the economic systems and environment have changed.For media companies,on the one hand,changes in the market environment have brought huge impact on traditional media companies;on the other hand,the policies support the integration of traditional and new media.Under such circumstances,how to achieve the further development has became a common problem of many media companies.As known,M&A between companies in the same industry can often achieve the effect of strong alliances,and thus form a monopoly trend.However,according to incomplete statistics,in addition to M&A among the same industry in recent years,the trend of cross-industry M&A in media companies has become more intense.Then,what motivated the media companies to cross-industry M&A,and what consequences cross-industry M&A will bring is the key issue that will be discussed in this article.At present,Chinese scholars' researches on M&A are mostly focused on empirical research.They mainly analyze the effects of three kinds of M&A: horizontal,vertical and mixed.However,there are few studies on cross-industry M&A.There is fewer studies on the motives and consequences of cross-industry M&A through a case study.In view of this kind of phenomenon,based on the general theory analysis and analysis,this article selects the typical case enterprise of Zhejiang Daily Digital Culture Group Co.,Ltd.,and explores the motives and consequences of cross-industry M&A in media companies through theoretical and case analysis.This article has provided some inspirational suggestions for the media companies that are preparing for cross-industry M&A in the future.