Google Tops Time Warner as #1 Media Company
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Written By Reprise Media | June 7, 2005 | Share This
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If I were the RoadRunner I’d be pretty upset right about now. Google’s doing so well on Wall Street they’re making Time Warner look pretty pale in comparison.
Reports now confirm that Google is “the most valuable media company on the planet” with a market capitalization of $80.8 billion that surpasses Time Warner’s $79.8 billion.
Of course, market caps are extremely fluid and any nudge either way (Google down, Time Warner up, etc.) could cause Google to become the second biggest once again. That said, Google’s stock performance has been nothing less than amazing as of late. The stock price has gone up by a third in the last 4 weeks alone, trading at 3 1/2 times its August IPO price of $85.
This paradigm shift is especially interesting considering Time Warner’s merger with AOL, once considered the Internet behemoth to beat. Looks like those days are over.
Topics: Google |