A Study On Value-added Evaluation Of Media Industry Listed Companies In Merger And Reorganization

In recent years,with the emergence of media companies,the country pays attention to the development of cultural enterprises.From 2014 to 2015,state-owned media companies began to compete for mergers and acquisitions.In this process,the company is evaluated in accordance with the law.The assessment of media concentration and restructuring was deemed to be too much added value.The media sector was overvalued in 2018,to the detriment of investors.CSRC has a policy that covers similar cases during mergers in 2017 and 2018 respectively.At present,the current evaluation and research on media concentration and recombination phenomenon is not enough.The analysis of domestic and international literature is based on the theory of firm value,that is,asset value is used to quantify the phenomenon of appreciation.The analysis of media consolidation and restructuring from 2013 to 2020 is based on an analysis of the development of the media industry and the business characteristics of the media industry.According to the relevant documents of the Commission in2017 and 2018,the added value of the restructuring of public media companies in the period from 2018 to2020 will be analyzed.The value-adding capacity study analyzes typical cases in four key areas,where analytical methods are used to evaluate performance,public enterprises assess the added value of media within reasonable limits,and oversee the evaluation process.The study concluded that during the period from 2018 to 2020,there were a number of high value added sector mergers and acquisitions in the media sector,and there were some differences in value added assessment;Traditional media use more asset valuation methods than the market approach,and using a profitdriven approach tends to produce higher value added.High value evaluation is influenced by evaluation methodology,related activities and major restructuring.For the media sector,valuing added value for the sake of valuing credibility,measuring added value cannot be a measure,but must be a key issue in the method and control of the evaluation process.The evaluation of the results is only reasonable if the procedures are reasonable.