The prosperity of the media，sports，and entertainment industry makes crucial contributions to the overall booming of the national economy-the industry scale keeps a growing trend for years. The regulators and governors are devoted to sustaining such growth of the “culture plus” business through various means，including reforming the regulatory system，providing policy guidelines，and improving the market mechanisms. Under the impact of the newly issued regulations and policies on assets management，the market interest in investing in the media，sports，and entertainment industry suffered a significant decline during 2019 and 2020-the shock of the COVID-19 pandemic worsened such loss of interest. However，with the success of the pandemic control，the operations and productions in the entertainment industry started to restore progressively as the national economy gradually recovers. The industry once again showed its remarkable resilience and growth potentials，especially with the ongoing popularity of the “internet plus” culture. In the first ten months of 2020，there were 12 mergers and acquisitions transactions in China’s media，sports，and entertainment industry. The total disclosed amount of the transaction prices was RMB 2.512 billion. The largest mergers and acquisitions transaction in scale in 2020 was Beijing Jingxi Culture & Tourism Co.，Ltd. acquiring Orient Landscape Resort Co.，Ltd..