Warner Bailu plans to acquire 2 billion yuan in "Happy Comedian" producers want to create a blue flame?

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The producer of "Happy Comedian" is listed on a curve ": Hualu Baina plans to acquire Joy Media, which is rumored to be valued at 2 billion yuan by Shanghai Jiayu (Joy Media), the producer behind popular comedy variety shows such as" Smile "and" Happy Comedian ", is about to enter the capital market. The article pointed out that in December last year, Dong Zhaohui sued Xin Weijia, the "old department", with a petition of "revealing the company's trade secrets." The reason was that Xin Weijia joined with Su Leijing, the core screenwriter of "Happy Comedian", and others...

Hualubina announced the acquisition of Happy Media, whether it can create another "blue flame", worthy of attention.

original title: "Happy comedian" producer "curvilinear listing": Warsaw Beiner plans to acquire Happy Media. It is rumored that Shanghai Jiayu (Happy Media), the producer behind popular comedy shows such as "The Smiling、Proud Wanderer" and "Happy Comedian", is about to enter the capital market with a valuation of 2 billion

on the evening of June 14, Warsaw Bainer, a listed company with A shares, issued a major announcement on the progress of asset restructuring, saying that the company intends to acquire the equity of Shanghai Jiayu Culture Investment Co., Ltd. by issuing shares and paying cash, and intends to raise matching funds.

the so-called Shanghai Jiayu Culture Investment Co., Ltd is actually Happy Media. The reporter learned from a senior executive of a variety company that the valuation of the merger and acquisition of Happy Media is expected to reach about 2 billion.

and the acquirer, Warsaw Bainer, not only has a business cooperation with Happy Media, but is also an important player in the variety field. Three years ago, the company announced the acquisition of Blue Flame in 2.5 billion and entered the field of variety in a high profile. After that, with the blessing of the blue flame, Warsaw Bainer rose rapidly in the field of variety, and successively produced popular styles such as "the most Beautiful Harmony", "Cross-border Song King" and "whirlwind filial son". And under the background of the poor performance of the Hualu Baina film and television sector, Blue Flame even contributed most of the company's profits.

however, due to the influence of the Korean restriction order, the blue flame has been relatively low recently. This time Warsaw Bainer announced the acquisition of Happy Media, whether it can create another "blue flame", worthy of attention.

reporters have also noticed that in recent years, the comedy industry has become an important target of capital hunting, comedy companies have sprung up like bamboo shoots after a spring rain, and Happy Media has also experienced the brain drain of many core comedies, and it remains to be seen whether it can maintain the high level of variety show production in the future.

the brain drain of movies and core comedies

what is the value of happy media?

official website shows that Shanghai Jiayu Culture Investment Co., Ltd. (Happy Media) is one of the most influential private entertainment content providers in China, and is an international media group integrating investment, production and distribution of variety shows, TV dramas and films, advertising sales, cross-media integrated marketing and promotion.

in 1999, the company quickly became the largest manufacturer of variety trump cards with national flagship variety shows such as "Joy Story", "Super Model" and so on. Since 2014, the company has produced popular variety shows such as "The Smiling、Proud Wanderer" and "Happy Comedian". The contestants include Jia Ling, Xiao Shenyang, Song Xiaobao, Shen Teng, Guo Degang, Yue Yunpeng and other stars.

"our valuations are very high, and we are still different from those small companies." At the end of last year, Dong Chaohui, chairman of Happy Media, talked about the valuation of the company in an interview with Entertainment Capital. Because the company should not only do programs, but also do comedy industry chain, such as movies.

but everything is much harder than I thought.

in 2017, Happy Media plans to release three films. But the first of them, the variety movie "Happy Comedy Man", hit the street hard. Dong Chaohui once said that "we will write, we will cast, and we will shoot," while the distribution will be handed over to more professional companies, accounting for only 30% of the share, but all ask for a guarantee.

Unfortunately, even if the movie invites Bean and withdraws from the Spring Festival, the box office is only over 60 million, and Douban's score is only 4.7.

obviously, Happy Media intends to turn the film into the second gold-lettered signboard and brand besides variety shows, but the company lacks film genes and does not have this ability for the time being.

what is more noteworthy is that Happy Media has also suffered a brain drain from core comedies and must re-cultivate new teams, as well as competitive companies, such as thousand-year-old pursuit and pressure.

previously, the media reported: "the producer of" Crossing King of Comedy "has been sued by Joy Media, which may be inevitable for comedy resources to be hunted. The article points out that in December last year, Dong Chaohui filed a petition for "leaking the company's trade secrets," suing Xin Weijia in court because Xin Weijia, with Su Lei Jing, the core screenwriter of "Happy Comedy Man," joined the late company, and produced "King of Cross-border Comedy" for Beijing Satellite TV, which was broadcast at the same time as the new show of the original company and faced each other head-on.

some insiders commented on this:" if it hadn't caused huge losses and threats to Happy Media, it wouldn't have taken it to court. " According to people familiar with the matter, Happy Media is also training new people who have never done comedy before, but it is bound to cost a lot of money.

at present, the lawsuit is still going on, but Beijing Satellite TV is not only broadcasting "Crossing Comedy King" normally, but is also preparing for the second season. And Qianqiu recently completed financing valued at 250 million, with food and ammunition ready.

of course, there is definitely not only one comedy team and company in this industry. The joy media, which claims to be the pinnacle of the comedy industry, is constantly seeking innovation and telling capital stories at a time when comedy resources are besieged, comedians are scarce, writers and books are constantly consumed.

for example, in addition to the inherent "Happy Comedian" and other IP in their own hands, this year the company will join hands with Youku to introduce the "SNL" model. The combination of Chinese culture and Chinese comedy creativity has attracted Jia Ling, Yue Yunpeng and others to create a Chinese version of "SNL."

"has strong resource integration ability and experience". This is Dong Chaohui's evaluation of the core competitiveness of Happy Media, and perhaps it is also an important reason why Warsaw Bainer is still optimistic about Happy Media under the general downward trend of various disturbances, variety shows and advertising.

Happy Media has worked with Warsaw Burner

reporters have noticed that Happy Media and the acquirer Warsaw Bainer have already had business cooperation.

as early as 2015, Happy Media co-produced the TV program "Happy Comedian" with Warsaw Bainer and Oriental Satellite TV. Warsaw Bainer's announcement also showed that on January 28, 2015, the company announced that it would use some of its over-raised funds and interest totaling 34.8 million yuan to invest in "Joy Mobilization" (later renamed "Happy Comedian").

"Happy Comedian" is known as the country's first star comedy competition Reality Show program, hosted by "National Meng Uncle" Wu Xiubo, with participants including Jia Ling, Xiao Shenyang, Song Xiaobao, Shen Teng and so on. According to the data, during the broadcast of "Happy Comedian", the average audience rating reached 1.39%, and the highest audience rating reached 1.86%. The ninth episode outperformed "if you are the one", and the 12th episode caught up with the old variety show "Happy Base Camp." The number of hits on the video content network has also reached 2.2 billion.

as an established state-owned film and television company listed in A shares, Warsaw Bainer is actually an important player in the variety field. In April 2014, the company announced that it would buy all the shares of Blue Flame for 2.5 billion yuan and enter the variety field in a high profile. In July 2015, the company introduced Kim Jung-hee, the godfather of Korean variety, to rapidly improve the company's R & D and production capabilities in the field of variety.

with the production strength of Blue Flame, Warsaw Bainer has produced "the most Beautiful Harmony", "the Goddess's New clothes", "Brave Heart", "Dreammaker", "to the end of the World", "Crossing King" and "filial son of the whirlwind" and other popular programs. Take "Tornado filial son" as an example. As the first variety program separated from production and broadcasting by Hunan Satellite TV, the program became the best-performing new variety show in the whole market in the first quarter of 2016, with the average audience rating of CSM35 City Network reaching 1.53%.

moreover, while Blue Flame successfully completed the relevant performance bet, it also contributed most of Warner's net profit in the past three years. From 2014 to 2016, the deduction non-net profit realized by Blue Flame reached 230 million, 228 million and 307 million respectively, while Warsaw Bainer's deduction non-net profit belonging to the shareholders of listed companies in the same period was 127 million, 239 million and 363 million respectively. Blue Flame accounts for more than 85% of the profits, and it is even the key to Warsaw Bainer's performance to turn a profit in 2014.

it is worth mentioning that when the capital operation of the film and television industry was restricted by regulation last year, Warsaw Bainer successfully completed a fixed increase of nearly 2.2 billion yuan, of which as much as 800 million was invested in the variety field, including programs such as "filial son of the whirlwind", "the most Beautiful Harmony", "the Goddess New clothes" and so on, thus making financial preparations for Warsaw Bainer to expand its variety layout.

Blue Flame is badly hit by "Korean restrictions"

Warsaw Bainer is attracted to Happy Media?

Warsaw Bainer, which has won the blue flame, why take a fancy to Happy Media again? Some people speculate that this has something to do with the plight of Blue Fire.

originally the two sides were in harmony with each other, but the emergence and upgrading of the "Korean restriction order" dealt a heavy blow to the blue flame.

it is reported that "just do it", originally scheduled to be broadcast by Hunan Satellite TV in 2016, was withdrawn by Hunan Satellite TV because of the participation of South Korean production team and other reasons. This year, it transferred to Jiangsu Satellite TV and changed its name to "come on, Brother", but the program failed many times and may be postponed to the third quarter. In addition, the South Korean team will be removed from the South Korean team even if it is going to be the second season of the whirlwind filial son. The company is proud and the South Korean team, as a gold-lettered signboard, left the scene sadly, which has had an incalculable impact on the company.

"come on, brother," some insiders in the industry told reporters that Blue Flame must re-establish a strong production team after "de-Korean", run-in and polish works with real strength in order to regain its strength, "especially when there is a new trough in advertising agency business this year."

to sum up, perhaps we can boldly guess that, out of the company's strategic considerations, the acquisition of Happy Media, another powerful, relatively mature variety company with its own independent IP, may also be the best choice after the terms and interests of both sides have been discussed.

of course, policy risks cannot be ignored. At present, the regulatory policy on the film and television entertainment industry still shows no sign of loosening, and Warburg Bainer's acquisition of Happy Media involves the issuance of shares, which means that it needs to be approved by the CSRC. It is also unknown whether the future restructuring plan will pass.

Edit: jessica