Google now most valuable media company
Google Inc. took over the top spot as the most highly valued media company this week, surpassing Time Warner Inc. in just 10 months of trading as a public company.
Google's share price on the Nasdaq rose another $2.18, or 0.75 percent, to close at $293.12 on Tuesday, an all-time high. Stock market analysts have suggested the stock could go as high as $325 or $350 a share.
With a current stock market capitalization of more than $80 billion, Google is now worth more than any other media company in the world. That includes Time Warner, created five years ago when AOL purchased Time Warner for $106 billion in a much-hyped combination of old and new media.
posted by Fergie @ 6/07/2005 03:37:00 PM
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