Graduation Year

2015

Date of Submission

5-2015

Document Type

Campus Only Senior Thesis

Degree Name

Bachelor of Arts

Department

Economics

Reader 1

Darren Filson

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Terms of Use for work posted in Scholarship@Claremont.

Rights Information

© 2015 Mohammad A. Abdul-Rahim

Abstract

This paper uses event study methodology to present evidence that acquirer announcement effects for mergers and acquisitions (M&A) in the American Media and Entertainment (M&E) industry are insignificant. In order to reach this conclusion, this paper both examines existing literature on the topic and manipulates available data on public companies in the M&E industry. It also uses this data to investigate the extent to which different factors influence the acquirer announcement effects. These factors include: the type of financing used for the deal, recent mega-merger failures in the M&E industry, M&A strategy (expansion vs. diversification), as well as target size, country, and sub- industry. The results show that none of these factors have a significant impact on announcement effects.

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