Research On The M&a Performance And Risk Of Listed Film And Television Companies

Culture is the soul of a country and a nation.In recent years,with the continuous improvement of people’s pursuit of spiritual life,building a socialist cultural power has become the ardent expectation of the party and the people of the whole country.As a sunrise industry,the cultural media industry has more and more important responsibilities and roles,so it needs to rely on the power of the capital market to achieve rapid development.In the cultural media industry,the film and television industry has a strong development momentum and plays an irreplaceable role.In recent years,listed film and television companies have achieved rapid business expansion through large-scale mergers and acquisitions,and at the same time,many problems have arisen.Especially after the outbreak of public opinions such as "yin-yang contracts" and "high-priced film remuneration",the “consequences” of mergers and acquisitions of film and television companies have gradually emerged with the outflow of funds,and the regulation of mergers and acquisitions in the film and television industry is mandatory.The effectiveness of acquisitions and acquisitions,as well as the risks of registered resource-oriented film and television companies,are highlights in this article.Based on relevant literature and theory,the appropriate double-difference method was used in 2015 to study film and television listed companies operating in Shanghai and Shenzhen’s main boards,SME boards and GEM markets.,The last Study period is three years and analyzes the M&A performance of listed companies based on economic size,profit margins,and collaborative effects.Research shows that the organization,merger,and acquisition of the core business and the entire industry chain of film and television listed companies can expand the business scale and market share of film and television companies,improve company performance,and create economic scale..The increase in short-term business income,profit margins,mergers,and acquisitions were interrelated as a result of the operation,but did not lead to management cooperation and did not achieve the expected results of the theoretical enterprise collaboration.These results indicate that film and television companies’ M&A strategies have been flawed,or that resource optimization and consolidation have not been completed after M&A.In addition,large-scale M&A may offset the effects of collaboration.Given the conclusion that mergers and acquisitions due to the nature of light assets of film and television companies do not have a synergistic effect on empirical results,this article is primarily an analysis of the acquisitions and acquisitions of stellar resources.the specific role of the star business in film and television companies.Explain the phenomenon of competition to obtain "star companies";Take the horizontal,vertical and hybrid M&A regimes as a starting point and classify the risk points in the merger and acquisition process.An in-depth analysis of the reasons for the risk of listing and merging film and television companies.Performance commitments,IP dependence,high pressure on cash box integration,lack of professional skills of managers,blind diversification of the company’s core resources;Mango Super Media,Guangxian Media and Huayi Brothers,merger and acquisition risk points approved.Finally,based on the above research,we recommend this film in order to develop high-quality cinematography in combination with the goal of integrated social and economic benefits for film and television production in the new era.and television-listed companies must maintain a sound investment and understand the merger and acquisition process.