Study On The Performance Of M & A Of Cultural Media Enterprises

As with China’s per capital GDP growth,disposable income rising steadily,residents’ consumption of cultural products and desires spurt type development,deepen the reform under the background of the cultural system,cultural media industry development to meet new opportunities and challenges.In recent years,the cultural media industry merger integration cases were increased,the performance of the m&a become good or bad need through various financial indicators analysis,financial analysis can provide guidance and help for enterprise mergers and acquisitions.But the traditional financial indicators analysis has its inherent limitations,and can’t meet the needs of the management decision.Harvard analysis framework is the improvement on the traditional financial analysis methods,through integrating the financial data and non-financial data,from a strategic perspective,through the accounting analysis,financial analysis and prospect forecast,for the enterprise provides a more comprehensive results,to the enterprise managers’ decision to lay a profound foundation.Huayi brothers as study object,this paper use Harvard analysis framework,the financial position and operating results of Huayi brothers are analyzed,with the other three companies-light industry media,comparing HuaLu baina lates and co-sponsored by the film and television.In detail under the premise of Huayi brothers company management and the status quo,to strategic analysis as a starting point,by using the baud five model,PEST analysis and SWOT analysis method,analyzes the industry environment and the strategic industry,company on the basis of the key to the company accounting policy for identification and evaluation,ensure that the accounting policies without controversy,from the report the longitudinal analysis,efficiency of asset management,financial management efficiency,management efficiency and five aspects has carried on the financial analysis,cash flow analysis indicate the direction for company’s future.Huayi brothers from the analysis in the face of fierce market competition environment,through mergers and acquisitions active layout,perfect the industry chain,to some extent this brings more revenue to Huayi brothers,but due to its m&a pace too fast,leading to the company’s financial risk increase year by year,the debts of the enterprise in the industry,the pressure is opposite bigger,assets management efficiency decrease year by year,period costs soaring,these profits are a little bit of erosion,virtually to the enterprise’s management bring great pressure.Finally concluded that enterprises should pay attention to core advantages in the process of industry chain layout,reasonable raise and use funds,to do a good job of integration after m&a.After gives Suggestions for the development of the Huayi brothers,the Angle of view to industry,draw a company merger and acquisition should be combined with corporate strategy,select a reasonable market price and payment and pay attention to resources integration after the merger three Revelations,in order to provide a reference for cultural media industry M&A decision.