The Analysis Of The M&A Of Comcast Corporation And NBCU

The impact of new media,changes of American media policy and industry convergence theory,these factors are the spur for media groups and tele-communication companies in the United States to embark on mergers and acquisitions,which could promote the integration of the telecommunications and media industry.However,with M&A transactions occurring,some people doubt the effectiveness of the vertical merger of the media,as well as the integration of telecommunications and television industry.To explore the efficiency of M&A,and the effect of the industrial integration and operation after the merger,based on the synergy theory and transaction cost theory,this thesis uses literature research method and financial index to analyze the case of Comcast's acquisition of NBC Universal.The study found that after M&A,Comcast extended its industrial chain,optimized the industrial structure,made up for content disadvantages and decentralized operational risks.With the synergy of mergers and acquisitions,the overall performance of the group has a slight rise.Therefore,Comcast not only improved financial performance but also integrated the telecommunications and television industry,which means the M&A between telecommunication and media corporations could be effective.Through the analysis of the case of Comcast,I hope it could provide some experience for the development of China's convergence of telecommunication and media.