U.S. publishing market, the overall environment in the whirlpool of financial turmoil, the second half of 2009, signs of gradual recovery. According to the American Economic Association National Enterprises (National Association for Business Economics, NABE) survey and the latest forecast, in 2009 the U.S. economy is still plagued by the financial crisis, GDP continues to decline in the overall situation, value is -0.9%. Is a specific view to the gradual decline in the recovery from the process: first quarter of 2009 GDP declines of 5.0%; the second quarter, the growth rate of -1.7%; from the U.S. economy started to recover in the second half, third, first began the fourth quarter GDP is growth rate of 1.6%. In this economic environment, the U.S. publishing industry is different from the market development trend and characteristics of the past.

M & A transaction value of the overall decline in the number and M & A frenzy in the publishing industry are emerging, big giant publishing group is the growing confrontation between the U.S. publishing market in recent years one of the biggest features. However, the financial crisis directly affects the turnover and mobility of capital, but also give the publishing industry in the capital as the link acquisition brings the number of transactions and trading value of the slide as a whole.

To complete the first half of the nation's data, 2009, the first two quarters Publishing Group conducted a total of 129 mergers and acquisitions over the same period in 2008 decreased by 35.8% 201; transaction value was 1.275 billion U.S. dollars, over the previous year 13.363 billion U.S. dollars in the same period decreased by 90.5%. Overall, the average value per transaction is less than 10 million U.S. dollars, a small-scale publishing industry mergers and acquisitions, with the same period last year mean that 66.5 million U.S. dollars form a great contrast, but also reflects a distinct personality. This may not be full-back, while the need to carefully observe and study obtained cause.

The first striking is the number of Internet publishing company and the transaction value of mergers and acquisitions overall decline. From 2002 to 2007, this six year period, the media and the Internet has been a major media publishing group preferred target. In 2008 after the financial crisis broke out, the flow of capital has been badly hit by the new media in the past most of the big media publishing group integrated the acquisition, because of funding difficulties, many of the big media started to slow down on new media acquisitions. The first half of 2009, the detailed data, for the acquisition of online media only occurred 84 times, compared to 135 last year, a decrease of 37.8%; the first half of 2009, transaction value of 1.323 billion U.S. dollars, a year earlier to 5.739 billion dollars, a decrease of 76.9%, lower value of the ratio is very obvious.

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