Based On The Relative Valuation Method And Income Approach Of Culture Media Enterprise Value Evaluation Research

Since 2002, under the impetus of national policy in the field of culture China’s drastic reforms take place, to emancipate and develop cultural productivity. Just ten years, from the start to the rapid development of the cultural industry gradually occupy a place in China’s economic sphere, China has become one of the most dynamic industries. As the state of the cultural industry policy has been adjusted and people for the spiritual life of constant pursuit and importance, the cultural industry will become the pillar industry of the national economy. Culture media industry as an integral part of the cultural industry, and its development is bound to promote the progress of cultural industries. Under this opportunity, culture media companies are winds of change through the high-speed development. Under the impetus of national policy, restructuring and listing, mergers and acquisitions, restructuring and other economic activities frequently, and these need to be involved in economic activity and business valuation services, so that investors can more accurately grasp the investment value of cultural media companies.This paper summarizes the researches on enterprise evaluation method and practice of evaluation studies found that the enterprise value of more and more, but more concentrated in manufacturing, construction, real estate, medicine, and other high-tech industries and enterprises, while the enterprise culture media Research valuation and rare. Based on this article for culture media business characteristics, the use of price segment more mature evaluation methods, theoretical reference, case studies and comparative analysis, by means of public information and financial data of listed companies, to measure the value of cultural and media enterprises. As a rich cultural media enterprise valuation theory and practical cases, and secondly so that investors can more accurately recognize the investment value of cultural media companies.With the help of the theory of business valuation, selected cultural media industry representative enterprises CENTRAL media, respectively, relative valuation method and the income approach to assess its enterprise value. First CENTRAL media company fundamentals were analyzed in the assessment, including the company operating conditions, the core competitiveness, development prospects, both for the choice of comparable companies or law-related income in the relative valuation method when evaluated for the later determine the parameters have provided some basis. Through the actual operation of the two methods, and ultimately come to the enterprise value at the reference date CENTRAL media relative valuation method and the Income Approach, and finally the results and the valuation date market value, book value was compared to determine the two methods applicability.This paper shows the relative valuation method and the income approach to assess the enterprise value of the whole process, to provide a reference for future business valuation culture media, and culture media obtained in business valuation, the income method is more suitable for scientific assessment by the case, but in the face complex factors, so as to have greater flexibility in determining the parameters. Relative valuation method is the best method of assessment, evaluation results more fitting assess the market value of the company, along with the continuous deepening of China’s cultural media market, information technology and increasing the degree of openness, its use in the valuation of the enterprise culture media It will be more extensive.