The market activity of China's media industry mergers and acquisitions decreased in 2017 compared with that of 2016. The market has entered a new phase of consolidation and transformation. Specifically，mergers and acquisitions in Chinese movies and television and the Internet media dropped in 2017. The traditional media continue promoting the epitaxial merger and acquisition. Thus，Chinese media industry mergers and acquisitions in 2017 presented four characteristics：First，the related policy has been tightened with less media mergers and acquisitions； Second，the combination of media and the Internet continued to deepen，and new segments in this industry are reshaping the new pattern.； Third，the game and film markets are still in a period of growth and the industry leaders are always strong. Fourth，strict supervision has become a new normal and Star Capital has gradually withdrawn from the arena. At present，the entertainment industry has obtained the pillars of the “13th Five-Year Plan” and has received relevant supportive policies in 2017. The media market is expected to pick up in the future.