Media Companies In China Corporate Governance Structure Optimization Study

The media industry, characterized by high value-added and profit, has become a sunrise industry by the application of rapidly developing information technology. The international media market is experiencing an unprecedented development with the development of the international capital market. The media magnates are powerfully capturing the resource in the worldwide. The international capital has prepared well for tapping the media area unopened in China, seeking for various kind of channels to penetrate into the market. In spite of the boom of the national media industry after the reform and opening to the outside world during which a large number of media groups were founded, there has been a significant gap between ours media industry and that of the developed countries. A great - leap - forward development of the national media industry can only be guaranteed by the construction of the modern corporations with the governance structure adapted to the situation of our country.This article mainly focused on the governance structure of the national media corporations. Firstly, the connotation of the corporation governance as well as the specific in the media corporation is introduced. Secondly, the deficiencies in the corporation governance of the Chinese media corporations are analyzed, especially in property rights, stock ownership structure, and the interior governance structure. Thirdly, some policy suggestions were given, including defining clearly property rights, setting up appropriate stock ownership structure, planned the system of checks and balances by separation of four powers, and establishing dual leadership. Finally, some policy analysis was given in the case of HunanTV & Broadcast Intermediary CO., LTD.On the basis of theoretical analysis as well as the experience of practice, this paper proposed the system of checks and balances by separation of four powers and the dual leadership of interview-compilation and management, which will accelerate the growth of the Chinese media industry.