Research On Financial Risk Of High-price M&A In Film And Television Industry

With the advancement and deepening of supply-side reforms,mergers and acquisitions are happening more and more frequently in China.Enterprises use mergers and acquisitions to achieve the goals of industrial integration and market share.Although China's film and television industry started late,with the introduction of relevant policies to encourage the development of the film and television industry,the film and television industry has ushered in a golden period of rapid development,triggering a wave of mergers and acquisitions.Since 2014,the number of mergers and acquisitions in the film and television industry has increased significantly.Due to the"asset-light" nature of the film and television industry,high-premium mergers and acquisitions have become the norm,and the financial risks associated with it have attracted the attention of film and television industry companies.In this context,it is particularly important to focus on the financial risks of high-premium mergers and acquisitions in the film and television industry through the study of typical cases.This article is based on the study of the financial risk related theories of mergers and acquisitions,using a case analysis method,taking Huayi Brothers' merger and acquisition of Dongyang Meila as the research object,and researching the financial risks arising from its merger and acquisition activities,and analyzing the merger and acquisition activities in the target company There are significant risks in value evaluation,financing payment,debt repayment,goodwill impairment,and asset integration.It is proposed to prevent financial risks of high premium mergers and acquisitions in the film and television industry.The film and television industry is in the cold winter period.M&A parties need to strictly control M&A activities.They must evaluate the target company's value,choose multiple financing payment methods,learn more about solvency,increase performance commitment terms,and attach importance to asset integration to conduct financial risk Effective processing to achieve the purpose of mergers and acquisitions.