In 2016，the merger and acquisition market of China’s media industry had developed in a rational manner with stable increase in the number and scale of mergers and acquisitions compared to 2015. Specifically，in 2016，Chinese film and television giants presented themselves in the entire industry chain，the mergers and acquisitions market in the internet industry had cooled down，the game industry had experienced ups and downs，traditional media made extensional mergers and transformation. Therefore，four features had appeared in China’s media industry mergers and acquisitions in 2016：policy supervision had been tightened and the bubble in the mergers market had been popped out；globalization had accelerated and the media industry had spread to overseas；mergers and acquisitions tend to cover the entire industry chain for the sake of alliance and complementary advantages；celebrity shareholder had been involved in capital operation with obvious celebrity securitization. In the near future，internet，online video and live broadcast will become a new hotspot in China’s media industry mergers and acquisitions.