| M & A is one of the important strategic business growth model, which is the fastest way to business growth. Along with our country economy and the rapid development of the capital market, M & A tends to standardize and improves regulatory. M & A gained more and better external environment, actively promote the development of film and television industry in the country policy background, film and television mergers and acquisitions will usher in a new historical opportunity, how to promote the smooth realization of corporate acquisitions and acquisition targets, access to improve performance is a major challenge facing businesses Television.In recent years, China’s cultural industry M & A market was hot. But the current domestic industry mergers and acquisitions in the field of cultural studies lack of attention, especially in the study of mergers and acquisitions question.Television motivation, characteristics acquisitions, mergers and acquisitions and other aspects of performance evaluation of gaps. This paper selected cases Zhejiang Huace Inc. acquisitions motivation and performance studies. First of all, described in this paper, the research background, research significance and research purpose, motivation and performance of M & A theory reviewed and comb; Then, the paper analyzes the development status and trend of the film and television industry, the M & A enterprise’s operating conditions of both sides are briefly introduced; On the specific circumstances of mergers and acquisitions both sides made a detailed introduction, draw lessons from the existing theoretical framework, is co-sponsored by the film and television of mergers and acquisitions and mergers and acquisitions commonly on the M & A motivation of commonness and characteristics, and puts forward its M & A motivation; And then describes in detail the process and result of mergers and acquisitions and mergers and acquisitions integration; Followed by the stock market perspective before its acquisition, performance and operational synergies case of integration to analyze, analyzes the synergies involved in the case after the merger the two companies made the case, M & A performance analysis results obtained, the China policy film propose targeted countermeasures and suggestions problems exposed during mergers and acquisitions; Finally, combined with the present situation of the film and television industry, summarizes mergers and acquisitions successful experience and enlightenment, expectations for the future of our country film and television enterprise merger and acquisition activity bring enlightenment and reference, film and television enterprise competitiveness, promote the Chinese film industry to a new level.On the basis of above analysis, this paper the following conclusions:1, co-sponsored by the film and television of xian jia yun social motivations of mergers and acquisitions, mainly in order to under the condition of market competition, through m&a synergistic effect to obtain resources coordination, perfect industry chain layout.2, from the performance of mergers and acquisitions, mergers and acquisitions won a synergistic effect.3, after the merger, Huace should focus on improving the asset management and sales profit level, in order to obtain a better development.4, in the future, Huace M & A activity should pay attention to the management of assets, improve the sales ability, but also to develop long-term strategic layout.5, the acquisition’s success mainly comes from the merger of the will of the merger consistency and complementarity of the business, film and television enterprises when making m&a strategy must fully consider the industry characteristics and their own needs.6, after the merger integration is an important part in enterprise mergers and acquisitions, should do well in the merger and acquisition resources organization, personnel, technology, culture and other aspects of integration, the synergistic effect to give full play to the role. |
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