That was quick
Google now most valuable media company
Google took over the top spot as the most highly valued media company this week, surpassing Time Warner 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.
But Time Warner's share price has deteriorated since the dot.com bubble burst--its market capitalization on Tuesday stood at $78.1 billion--and investors view Google as the hot internet and media company these days.
Other, more traditional, media companies trail Google's stock market worth by even more. Viacom and Walt Disney, for instance, hold stock market capitalization of between $54 billion and $55 billion.
Even Yahoo, seen as one big internet media competitor, carries a market value some $27 billion less than that of Google.
