Research On The Merger And Reorganization Of Phoenix Media From The Perspective Of Internal M & A Audit

This paper is the analysis Jiangsu Phoenix Publishing&Media Co., Ltd.(Phoenix Media) trans-regional merger case.Phoenix media is not only on the leading position in the field of publishing and distribution, but also the first book publishing companies to achieve the overall inter-provincial restructuring of book publishing companies.Under the environment of national policy support and market demand urgent,active in mergers and acquisitions is an effective way to improve the culture media companies own comprehensive competitiveness.The pace of mergers and acquisitions is speeding up in recent years in Phoenix Media.In order to reach the target of improving the competitiveness and profitability of the industry as well as for companies seeking new profit growth.Phoenix Media should be assess their own ability of mergers and acquisitions more adequately,and throughout the Mergers and acquisitions audit to the whole process actively of M&A actively,to ensuring the realization of acquisition targets and to protect the interests of both acquisitions,to achieve win-win.There are seven chapters in this paper,based on the theory of acquisition audit and acquisition ability,to analysis and evaluation the development ability,finance ability and management ability based on the financial indicators data of2008-2013,from the perspective of internal acquisition audit to determine whether the Phoenix media have sufficient acquisition capacity.And for the problems of acquisition raised in the corresponding measures and suggestions.At first,reviewed the theories of acquisition audit and acquisition ability,summarized the concept, characteristics, scope of acquisition audit and concept classification of acquisition capability.After laying the theoretical foundation for the evaluation of the Phoenix media acquisitions capability.Secondly, summarized the establishment, change and on the market of Phoenix media and all acquisitions overview,And from the development capability, financial capability of Phoenix media to conduct a comprehensive analysis of its acquisition ability to provide a basis for evaluating the ability of the Phoenix media acquisitions.Finally,to evaluating the acquisitions capability of Phoenix media from the ability of develop, finance,and management,summed it has sufficient acquisitions capability to implement the objectives of enhancing their core through acquisition.Meanwhile, also for the problems of Phoenix Media mergers and acquisitions,proposed the use of advanced management techniques to improve the Phoenix media management capabilities,by expanding financing channels to increase capital accumulation and founding the professional team of mergers and acquisitions in Phoenix Media.