Research On The Impact Of Central South Media Group's Diversification On Enterprise

With the popularity of the Internet and the continuous improvement of science and technology,the challenges facing the traditional newspaper industry are becoming increasingly severe and the living environment is shrinking.With the advancement of the times,the role of culture in promoting social and economic development has become more and more obvious.China also attaches great importance to the development status of the cultural industry and provides strong policy support and economic support to the cultural industry.In order to cope with the impact of emerging media,many traditional newspaper groups have invariably chosen a diversified business strategy.The process of diversified operation of an enterprise has an impact that cannot be ignored on the short-term and long-term development of the enterprise.It analyzes why the company chooses diversified management and how to implement diversified management.It improves the overall strength of the enterprise and expands its market influence.Aspect has theoretical and practical significance.The research object of this article is Zhongnan Media Group,which is one of the leading companies in the publishing industry in China.Its diversified operating group started before it went public.It started early and has a certain representativeness in publishing listed companies.Based on the report compilation and financial data analysis of Zhongnan Media Group for the past nine years,the impact of the group's implementation of diversification strategy on corporate performance was studied.First,combining the vertical and horizontal comparisons,select the Changjiang Media with a low degree of diversification in the publishing industry to compare it with Zhongnan Media,and objectively analyze the financial performance of Zhongnan Media.Second,use Tobin's Q value and earnings per share to analyze and analyze the market value of diversified operations.Finally,the effects of the realization of diversified business objectives are reviewed from the effects of residual resource utilization,risk diversification effects,and market power expansion effects.It is concluded that the efficiency of diversification of Zhongnan Media Group is not very satisfactory,but the overall results of diversification are successful.Therefore,in the future production and operation of Zhongnan Media Group,it should maintain the main industry power to form a competitive advantage,and then coordinate the industries in a timely manner,divest some business units that have lost profit growth space,and seize the appropriate opportunity to expand new business and new industries,and constantly grasp new Technology to attract outstanding talents and achieve strategic innovation.