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At present, the capital market is constantly evolving and changing, and the development of state-owned media companies is very difficult. At the same time, the development of various media industries other than state-owned enterprises is also being regulated by the capitalist market. It can be said that the development of media companies under the control of the capital market is changing with each passing day. This paper mainly focuses on the characteristics of the media companies in the development process, and finally divides the operation of contemporary media capital. 1. Capital transformation of traditional media Most state-owned media companies are traditional media companies, and their development faces an important turning point. Under the current development situation, more and more industries are facing difficulties in transformation. This kind of corporate choices that emerged in the context of the development of the times will undoubtedly bring great changes to the future development of enterprises. How media companies should cope with the development trend of this era is a more difficult topic. Therefore, media companies need to fully understand their own development and make the right choices. 2. Case analysis of current the electric and television media Company 2.1 The main business structure of Dianguang Media Co. Ltd The development path of Radio and television media company has its own characteristics. With the rapid development of network technology, the development scope of Radio and television media company is more and more extensive, and the types of business are also continuously enriched. This development trend is very beneficial to the development of media companies. In the development of media companies, we also need to determine the direction of development to adapt to the increasingly rapid development of media companies. At present, the development of media companies is becoming more and more diversified, with the addition of network information transmission services and concurrently operating various types of services such as hotel tourism and real estate. The following is a table of sub-regional data of the business of Dianguang Media. Table1. Main business sub-regional situation table in 2005 Area Main business income Proportion Hunan 148241 81.7 Beijing 19132 10.5 Shanghai 471 0.2 Guangdong 13595 7.5 From Table1, we can find that in the electric and television media industry in 2005, the distribution of various businesses is very different. Among them, Hunan's main business income is the highest, accounting for 81.7% of the total main business income ratio. At the same time, the region with the least income from the main business in the four major regions is Shanghai, accounting for 0.2% of the total revenue from the main business. Therefore, we have come to the conclusion that different regions have different potentials for developing the TV industry. In the 2018 International Conference on Economics, Finance, Business, and Development (ICEFBD 2018) Copyright © (2018) Francis Academic Press, UK DOI: 10.25236/icefbd.18.065 --303-future, we need to make a reasonable analysis of different situations and finally determine reasonable regional development requirements. As mentioned above, the current operation business of Radio and television media company has a lot of room for development. Therefore, in the exploration and development of various businesses, we must pay attention to ensuring the interconnection between various businesses to achieve a win-win situation. First of all, in the advertising business, the branch of Radio and television media company needs to provide the necessary TV channel support to form a nationwide advertising network to better play the role of advertising. In the development of advertising business in multiple regions, the cooperation of advertising companies in various regions is particularly important. Secondly, in terms of program business, media companies need to pay attention to the production and processing of film and television dramas, and actively produce film and television works with market influence. By publishing the influence of these works companies, we will promote the audience's love for film and television works and promote the company's more stable development in the program business. In addition, in the network business, due to the rapid development of the current network technology, many media companies have followed suit and carried out the necessary business proliferation. Under such circumstances, media companies must prevent the development of other industries from being delayed by the development of network services. Finally, in the development of other businesses. In order to be more responsive to the development of the times, media companies need to accelerate the development of other diverse businesses and ultimately promote the company's better development. The following is the calculation formula for investment income. The relationship between income and cost can be seen from the figure. That is, the company's total revenue is equal to the revenue divided by the cost minus 1 and finally multiplied by 100%. We should use this formula reasonably to contribute to our investment company. The calculation of annual income can also be performed by such a method. For example, if the cost is 10,000 and the annual rate of return is 8%, the annual rate of return is 10000*8%=800, and the daily return is 800\365=2.19. 2.2 Radio and television media company's advertising operation project In the development of Radio and television media company, the development of various businesses has affected the overall development of Radio and television media company. The following is a table for the proportion of advertising revenue of a certain company from 1999 to 2004 in the calendar year.

Discussion on the Operation and Difficulties of State-owned Media Capital