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M&A Analysis and Research on Press and Publications of China

Abstract:

1. The Status quo of press and publication industry

China 's books and newspapers publishing industry during the 11 th Five Years Plan has grown in kinds from 143 to 222 while book printing has been up from 62.7 billion volumes to 64.7 billion volumes with 49.3 billion pages increased from 37.6 billion. The consolidation of newspaper has shown its effect in rational structure and order market. The kind of new paper has decreased from 2000 to 1931 while printing has grown from 32.9 billion to 413 billion and total number has up to 161.3 billion from 80 billion. Periodical has provided 9468 categories which was 8725 before with printing pages climbing to 12.5 billion from 10 billion. There has been a growth in categories from 180,000 to 350,000 in AV market where the publishing has been up to 12.5 billion from 0.2 billion with CD and cassette combined. E-publication including Internet, communication network and cable TV network have been built from zero to 2254 categories then surging to 6152 now a days as digital publishing market takes shape. There have been 300 kinds of magazines can be subscribed by mobile phone, 1000 of on-line news papers, more than 20,000 kinds of periodicals available on-line and nearly 10 internet data bases on the scene. Publication has been push forward both in number and quality. A large number of books, AV products, electronic and on-line products has featured right direction, good content and found their favour in the eyes of avid readers, a host of periodicals having been well received with uplifting taste and positive materials. All of these products have done a great deal of job in forging ahead socialist culture, disseminating science and technology and enriching cultural and ethnic level. With industry expanding, a complete industrial structure has been emerged with major sectors in publishing, printing, copying and issuing while publishing education, publishing research, copyright agents, logistic supply for publication and export and import of publication as supplementary parts. In 2006, there have been 674 book publishers, 70 on-line publishing agencies, 250,000 printing firms, 436 copy companies and 1.99 million marketing outlets, which forms industrial cluster in embryonic stage. This sector has realized an added value of RMB 167 billion sharing 1% of GDP.

 

2. M&A motives behind China 's press and publication industry

All nations have been inextricably linked under globalization. As China has become the member of WTO, international pressure and opportunity have been offered. From press and publication industry worldwide, foreign counterparts have been eager to step in China 's market either in news paper and magazine market, or movie publishing and AV publishing industry. China is home to large population and has rich culture which prompts foreign companies to stake out vast territory in China .

We believed that competition in press and publication industry home and broad will be fiercer in the era of knowledge economy. The management mechanism and its operation in China 's press and publication as whole are far from enough to catch up with competition. Therefore, reform and M&A is expeditious to carry out. With tremendous input of foreign and social capital, the status of national capital will experience a turnaround as state-owned publishers being boxed out of the market while others will manage to live up with social and foreign capital through diversification of property rights and establishment of modern corporate system. In the near future, reshuffle in press and publication industry is inevitable. The old system will break down with new one waiting to take shape. To grab the market will be the main theme of new round of competition.

Case study of M&A in press and publication

Time

Party involved

Case in brief

2004

13 enterprises include Guangdong Provincial Publishing Group, Guangdong Science Technology Publisher

Bureau of Books, Newspapers and Publication in Guangdong Province decided that: 13 enterprises including Guangdong Science Technology Publisher which was used to be under the control of Provincial Bureau have been shifted to the control of Guangdong Provincial Publishing Group; state stock of Guangdong Xinhua Publishing Group, Inc. will be delegated to Guangdong Provincial Publishing Group as state asset as holding stock of Xinhua Publishing. After consolidation, there are 26 members under Guangdong Provincial Publishing Group with RMB 3.4 billion of asset.

2005

Liaoning Publishing Group, Bertelsmann AG

Liaoning Bertelsmann Book Distribution Co. Ltd. was up and run by Liaoning Publishing Group and Bertelsmann AG. Registered capital was RMB 30 million in which Liaoning Publishing Group shared 51% of stock and Bertelsmann AG shared 49% of stock.

2005

Shanghai Century Publishing Group, Shanghai Dasheng Assets Co., Ltd., Shanghai Jingwen Investment Co Ltd., United Investment Co.,Ltd., Eastday.Com Incorporated., Zhejiang Publishing United Group

Shanghai Century Publishing (Holding) Co., Ltd as the first joint-stock companies transformed its business model was co-found by five state-owned investors such as Shanghai Century Publishing Group, Shanghai Dasheng Assets Co., Ltd., Shanghai Jingwen Investment Co Ltd., United Investment Co.,Ltd., Eastday.Com Incorporated., Zhejiang Publishing United Group. Shanghai Century Publishing Group shared 70% of stock, the other five shared 14%, £¶£¥¡¢£³£¥¡¢£¶£¥ and £±£¥ respectively. They were holding shares in cash. The total equity is worth of RMB 1 billion in which RMB 0.5 billion in cash.

2006

Shanghai Xinhua Distribution Group, Hualian Supermarket Co.,Ltd

Shanghai Xinhua Distribution Group can be listed on the sock market by purchasing the listed shares of Hualian Supermarket Co., Ltd. Shanghai Xinhua Distribution Group took 45.06% of stock of Hualian Supermarket Co.,Ltd with RMB 0.422 billion.

3. M&A trend of China 's press and publication

China 's press and publication industry is at the edge of cataclysmic change where polarization gets emerged by the survival of the fittest while private sector will supersede state one to take front stage. The intensity has been felt. We found that industrial market scale in press and publication will continue to grow and profitability turns down. This sector has got on the limelight from capital market. The former competition pattern will change with more capital operation on the scene.

A. Participation of foreign capital. China has enjoyed large population and profound richness of culture which offers great market volume for foreign company to step in through M&A.

B. Policy integration. The core season behind sweeping reform in cultural system is to deliver a boost to China 's media under the backdrop of being the member of WTO, cooperation with foreign media and participation of capital from overseas. So far, there existed hundreds of groups focusing on news paper, radio and television and publication.

C. Take-over crossing sectors. It will be the mainstream in China 's press and publication industry. Interactive development in multi-dimension upon news paper, AV products and movies over the same content can grab market share at maximum with added value flow in.

D. Integration among regions. The move featured separation between government and corporation makes it possible for industrial cooperation and division of work within region. Number of publishing groups crossing regions will mushroom with mutual participation and interest along with diversified property rights.

Contents
Chapter 1 Profile on study 
Section 1 Background for study
Section 2 Study contents
Section 3 Study methodology
Section 4 Study team
Section 5 Study conclusion
Chapter 2 The Status Quo of publishing Industry Worldwide
Section 1 the Development of publishing worldwide
Section 2 the Demand and supply of publishing industry worldwide
1. Productive pattern of publishing industry worldwide
2. Market scale of publishing industry worldwide
3. The Trend of demand and supply in publishing industry worldwide
Section 3 Competition pattern of publishing industry worldwide
1. Density analysis of competition in publishing industry worldwide
2. Regional competition of publishing industry worldwide
2.1 Europe 
2.2 North America
2.3 Asia
3. Competition in industrial scale of publishing industry worldwide
Section 4 Publishing scale worldwide between 2006 and 2007
Section 5 Publishing scale forecast worldwide between 2006 and 2007
Chapter 3 The Status Quo of Publishing Industry in China
Section 1  The Status quo of China¡¯s publishing industry
Section 2 Demand and supply in China¡¯s publishing industry
1. Supply in general between 2006 and 2007
1.1 Regional structure of China¡¯s publishing industry
1.2 Density of China¡¯s publishing industry
1.3 Publishing scale in general
2. The Demand scale between 2006 and 2007
2.1 Market scale and demand character in China¡¯s publishing industry
2.2 Market demand of China¡¯s publishing industry
3. Scale forecast of China¡¯s publishing industry between 2007 and 2010
Chapter 4 Market of China¡¯s Publishing Industry in Categories 
Section 1 News papers and magazines

Section 2 Books 

Section 3 On-line publication 
Chapter 5 Major Industrial Cluster and Competitiveness of China¡¯s Publishing Industry
Section 1 Northeast region   
1. Demand and supply scale between 2007 and 2010
2. Development and industrial pattern in regional publishing industry
3. Competition pattern and major player in regional publishing industry
4. M&A trend and feasibility of regional publishing industry
Section 2 North China
1. Demand and supply scale between 2007 and 2010
2. Development and industrial pattern in regional publishing industry
3. Competition pattern and major player in regional publishing industry
4. M&A trend and feasibility of regional publishing industry
Section 3 Central China 
1. Demand and supply scale between 2007 and 2010
2. Development and industrial pattern in regional publishing industry
3. Competition pattern and major player in regional publishing industry
4. M&A trend and feasibility of regional publishing industry
Section 4 South China
1. Demand and supply scale between 2007 and 2010
2. Development and industrial pattern in regional publishing industry
3. Competition pattern and major player in regional publishing industry
4. M&A trend and feasibility of regional publishing industry
Section 5 Southwest Region
1. Demand and supply scale between 2007 and 2010
2. Development and industrial pattern in regional publishing industry
3. Competition pattern and major player in regional publishing industry
4. M&A trend and feasibility of regional publishing industry
Section 6 Northwest Region 
1. Demand and supply scale between 2007 and 2010
2. Development and industrial pattern in regional publishing industry
3. Competition pattern and major player in regional publishing industry
4. M&A trend and feasibility of regional publishing industry
Section 7 Eastern Region 
1. Demand and supply scale between 2007 and 2010
2. Development and industrial pattern in regional publishing industry
3. Competition pattern and major player in regional publishing industry
4. M&A trend and feasibility of regional publishing industry
Chapter 6 Investment Policy on China¡¯s Publishing Industry
Section 1 the Impact of macro-economy on publishing industry
Section 2 Industrial policy upon this sector
Chapter 7 Major Factor Exerting Influence on Publishing Industry
Section 1 State asset loss in China¡¯s publishing Industry
Section 2 Existing problem in international cooperation 
Section 3 Human resources in China¡¯s publishing Industry
Section 4 Corporate operation in China¡¯s publishing Industry
Chapter 8 The Status Quo of M&A in China¡¯s Publishing Industry
Section 1 Background of M&A in China¡¯s publishing industry
Section 2 the Status quo of China¡¯s publishing industry
Section 3 Case study of M&A in China¡¯s publishing industry
Section 4 M&A trend in China¡¯s publishing industry
Chapter 9 The Stumbling Stone in China¡¯s Publishing Industry
Section 1 Policy
Section 2 Capital 
Section 3 Channel 
Section 4 Technology
Chapter 10 The trend of M&A by Overseas Companies over China¡¯s Counterparts
Section 1 the development of foreign publishing companies 
1. Investment 
2. Targeted area for investment 
3. Market performance
4. Investment structure
Investment trend 
Section 2 Bertelsmann
1. The Current investment 
2. Core competitiveness 
3. M&A trend and feasibility 
Section 2 Le Groupe Hachette Livre
1. The Current investment
2. Core competitiveness
3. M&A trend and feasibility
Section 4 MaGill Group 
1. The Current investment
2. Core competitiveness
3. M&A trend and feasibility
Section 5 PearsonGroup
1. The Current investment
2. Core competitiveness
3. M&A trend and feasibility
Chapter 11 Case Study of M&A in China¡¯s Publishing Industry 
Section 1 Guangdong Provincial Publishing Group
1. Background and core value 
2. Procedure and solution of M&A 
3. Strategic development in post M&A phase
Section 2 Liaoning Publishing Group with Bertelsmann AG
1. Background and core value
2. Procedure and solution of M&A
3. Strategic development in post M&A phase
Section 3 Shanghai Century Publishing (Holding) Co., Ltd.
1. Background and core value
2. Procedure and solution of M&A
3. Strategic development in post M&A phase
Section 4 Shanghai Xinhua Distribution Group with Hualian Supermarket Co., Ltd. 
1. Background and core value
2. Procedure and solution of M&A
3. Strategic development in post M&A phase
Chapter 12 The Major Player of M&A in China¡¯s Publishing Industry  
Section 1 People¡¯s Education Press
1. Capital operation 
2. Production and marketing competition
3. Corporate strategy
4. M&A trend and feasibility
Section 2 China Higher Education Press, CHEP
1. Capital operation
2. Production and marketing competition
3. Corporate strategy
4. M&A trend and feasibility
Section 3 Foreign Language Teaching & Research Press
1. Capital operation
2. Production and marketing competition
3. Corporate strategy
4. M&A trend and feasibility
Section 4 China International Publishing Gruop
1. Capital operation
2. Production and marketing competition
3. Corporate strategy
4. M&A trend and feasibility
Section 5 Xinhua Publication Group
1. Capital operation
2. Production and marketing competition
3. Corporate strategy
4. M&A trend and feasibility
Section 6 Xinhua Newspaper Group
1. Capital operation
2. Production and marketing competition
3. Corporate strategy
4. M&A trend and feasibility
Section 7 Dazhong News Group 
1. Capital operation
2. Production and marketing competition
3. Corporate strategy
4. M&A trend and feasibility
Section 8 Guangdong Provincial Publishing Group
1. Capital operation
2. Production and marketing competition
3. Corporate strategy
4. M&A trend and feasibility
Chapter 13 Industrial Chain and M&A Trend of China¡¯s Publishing Industry 
Section 1 Character analysis of industrial chain in publishing industry 
Section 2 M&A possibility of industrial chain in publishing industry
Chapter 14 M&A Possibility in China¡¯s Publishing Industry
Section 1 Shanghai Century Publishing Group
1.1 Corporate strategy 
1.2 Corporate bottleneck 
1.3 M&A feasibility
Section 2 Hunan Publishing Investment Holding Group Co., Ltd
1.1 Corporate strategy
1.2 Corporate bottleneck
1.3 M&A feasibility
Section 3 ...Zhejiang Publishing United Group
1.1 Corporate strategy
1.2 Corporate bottleneck
1.3 M&A feasibility
Section 4 Jiangsu Publishing General
1.1 Corporate strategy
1.2 Corporate bottleneck
1.3 M&A feasibility
Section 5 Sanlian Publishing House
1.1 Corporate strategy
1.2 Corporate bottleneck
1.3 M&A feasibility
Section 6 Southern Newspaper Group
1.1 Corporate strategy
1.2 Corporate bottleneck
1.3 M&A feasibility
Section 7 Shenzhen Newspaper Group
1.1 Corporate strategy
1.2 Corporate bottleneck
1.3 M&A feasibility
Section 8 Dazhong News Group
1.1 Corporate strategy
1.2 Corporate bottleneck
1.3 M&A feasibility
Section 9 Yunnan Daily Newspaper Group
1.1 Corporate strategy
1.2 Corporate bottleneck
1.3 M&A feasibility
Section 10 Shandong Publishing Group
1.1 Corporate strategy
1.2 Corporate bottleneck
1.3 M&A feasibility
Chapter 15 M&A Analysis of China¡¯s Publishing Industry
Section 1 Censoring 
Section 2 Local protection 
Section 3 Inner control 
Chapter 16 Recommendation for China¡¯s Publishing Industry 

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