Song Hua Wired to Network fusion

Probably "triple-Net convergence" is a bit of a dystocia-it is said that the State Council's proposal has six drafts, the industry is very anxious, so some new concept of adaptation began to appear.　　The author of the previous article mentioned the "three-screen fusion", this is not, recently emerged a new term: network integration. The listed company Leroy Cable (SH.600037) recently changed a real control person. The company announced June 2 that the controller was changed from the original Beijing North Canton Media Group to Beijing Radio and television station, which was integrated by Beijing North Canton Media Group, Beijing People's radio station and Beijing TV station.　　This news is regarded as a case of "network fusion", there is no lack of applause. However, the capital market response seems to be too calm, a number of brokers only said a "long-term good", the cautious stance, the Bank of China international more than 50 times times more than the basis for the rating of "sell".　　3rd, the shares of the song China Cable rose after the opening, then a big drop, a 5% of the amplitude of the Yin line, the date of the Prev close to 1.73%. The song Hua Cable was listed in 2001, and it became a small exciting point in the capital market: one cable TV this piece has always been state-owned, listed to achieve shareholder diversification into public companies, as a radio and television system of innovation; Secondly, "triple net fusion" is not the new version of the introduction today, at that time it was thought that it with "Triple network integration" concept, with long-term investment value. After the listing, the company's performance is good, when the "blue", but the income has been fairly smooth (2007, 2008, 2009 earnings per share is 3 cents) even to the conservative point: rely on licensing and related policies, sitting in Beijing's cable TV fee.　　The author and people have joked that song Hua wired income structure, where is the cultural industry plate, should be counted as "public utility" plate. CICC believes that "network integration is the local radio and television to cope with the three networks of the rational choice of competition", this will see "Taiwan" is what Taiwan, "net" is what the net. Probably in 2007, "Huaxia Times" once to the Chinese cable executives did an interview, at that time, broadband services in the entire business of the song Hua cable is very small, the interview mentioned that the company's broadband market share is only 1%-2%. In 2009, according to its published annual report, the number of personal broadband online households "more than 120,000 households", compared to a big city such as Beijing, this figure is nothing.　　In other words, in the entire broadband market, song Hua cable is a small role, and Netcom is a well-deserved market-dominating. In the 2009 Annual report, Song Hua Wired for broadband business losses 9.51 million is explained: "At present, the Beijing broadband market competition, the broadband operators have to lower tariff prices, the company according to the current situation in the broadband market, appropriate slowdown in the construction of broadband Community network progress, On the basis of improving the net access rate of the established broadband Community network and giving full play to the benefits of the existing resources, the construction of the community broadband network is accelerated.Of。 "Can say," Taiwan this aspect, the song Hua Wired nature is very strong, has more than 4 million users, the Beijing cable television channel Monopoly in its hand also is not what exaggerated argument, but "net" this aspect, its influence obviously weak to be able to neglect.　　And, because of the intense competition, it slowed down the infrastructure in 2009, instead of improving the net-access rate of the established community-perhaps the author has some "Heart of the villain", the rate of increase, it is not easy to think. The song Hua cable is a quite typical case, and because it is listed public companies, there is a large number of data disclosure available for analysis, from which we can glimpse in the triple-net fusion chess, the status of the real commercial companies under the broadcasting System: strong business sector is strong, weak part is extremely weak.　　In the weak broadband business, the song Hua cable can not be a "no license" to make excuses: 2007 it did not, but then there, the key question is: the cloth network is insufficient, and, oneself also slowed down the construction speed. Song Hua cable Change the actual control person, is not a triple NET integration initiative, because the new actual control person, still is the broadcasting System organization.　　However, I agree with the CICC "rational choice", the radio and television system in the enrichment of this future will be in the three network integration in the vanguard of the strength. I have mentioned in the past article, the radio and television system in the three networks of the disadvantages of integration are two: one for the technical strength, the other is to prepare for the organization. In my opinion, the technical strength is "uses" the stratification plane, the tactical question, spends some cost, can always solve. But organizational preparation is the "body" level, strategic issues. The shortcomings of the internal and external broadcasting system are long-standing, the command can not be unified, how to compete?　　Radio and television system to borrow three network convergence is still deadlocked, a chaos, to the listed companies as containers, integration of various forces, this is its real good and hard place. From the company bulletin, there are roughly two possible changes: first, because the actual control of the changes in the final control of the person's change, the former North Canton Media Group, the final control of the Beijing government, joined the radio and television, the source into the city and municipal committee; Second, the main business may change, Song Hua cable past main business has been in the transmission, and the television station is clearly content integrators.　　The joining of the TV station, May let the song China wired obtain more advantageous content support, the so-called network fusion, namely refers this: the content and the transmission cooperation. But it remains to be seen how the results of the integration will be.