Research On The M&A Performance Of Publishing Media Enterprises From The Perspective Of Synergy

With the rapid development of China's economy,the publication medium enterprises rings in the spring of reform,facing the ever-changing big data,the application of the emerging technologies such as cloud computing,the industry of the original business model has been unable to support the steady and rapid development,publishing media companies must seek new profit growth point,in order to have a special place in the fierce market competition environment.At the same time,in order to carry out the cultural industry revitalization planning,the state has introduced the relevant policies continuously to encourage support publication medium enterprises from the print media to multimedia transformation and gradually promote the integration of traditional publishing and digital publishing.Tian Zhou culture as "the first Chinese private publishing media",under the background of the industry environment and policy,comprehensively reviews the advantages and disadvantages of their own business,focusing on the future of the company development strategy,actively expands the mergers and acquisitions of new media companies.Based on the case of private publishing enterprises Tian Zhou culture acquisition Magical Era and You Love Network,took 5 years financial data before and after the merger and acquisition activity,from the perspective of coordination effect,using financial indicators analysis,built a comprehensive evaluation system using strategic,operation,management,financial and soft power as the synergetic framework,comprehensively analyzed the Tian Zhou culture changes of the M&A performance.Research results indicate that after selecting the right target companies and appropriate merger and acquisition methods,the overall operating strength of Tianzhou Culture has been strengthened,and the synergies brought by mergers and acquisitions have been basically achieved,especially strategic synergy effect.Operational coordination of the indicators has a sharp rise in those days,but the risk of goodwill,the management synergy asset utilization has been effectively promoted,which still need to further strengthen the company's management level,the M&A financial effect on Tian Zhou culture did not substantive,the influence of soft strength synergistic effect is significant,which improve the enterprise's brand awareness,and finally through the analysis research,so as to provide referential experience for other industry breakthrough development predicament.