In the era of economic globalisation, cross-border mergers and acquisitions (M&A) have become an important way for enterprises to carry out foreign direct investment, and at the same time, with China's economic transformation and consumption upgrading, the cultural industry contains great business opportunities. Cross-border M&A of cultural enterprises can help accelerate the international transformation of China's cultural enterprises, which is of great significance to enhance China's national soft power. In the past two decades, the success rate of Chinese enterprises participating in cross-border mergers and acquisitions has averaged 62%, and there are more cases of failure, and enterprises face many risks and challenges in cross-border mergers and acquisitions. In this process, international business negotiation plays an important role. Good international business negotiation strategy and process can make the M&A proceed more smoothly, and at the same time can ensure that the stakeholders involved in the M&A will not be harmed. Therefore, it is of great significance to study the risks faced by enterprises in cross-border M&A cases. Through the case study, it is found that in the case of Wanda's acquisition of American Legendary Pictures, the M&A risk has a negative impact on Wanda's long-term performance, and the synergistic effect has not been well realised. In the early stage of M&A, we should focus on the motivation of M&A; in the stage of M&A implementation, we should choose the payment method and financing method carefully; and in the stage of M&A integration, we should not slacken the management of overseas assets.

Tiantian Ye. Risk Analysis of Cultural Enterprises' Overseas Mergers and Acquisitions--Taking Wanda's Acquisition of American Legendary Pictures as an Example. International Journal of Social Sciences and Economic Management (2023), Vol. 4, Issue 1: 63-70. https://doi.org/10.38007/IJSSEM.2023.040107.

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