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• Google Surpasses TW as the World's largest Media Company

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  Shrinath Navghane    Group moderator

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  Google Surpasses TW as the World's largest Media Company

  Dear iEC,
  
  Well, it finally happened. Ever since Google announced in their last Quarterly Report that they are now a Media Company instead of technology company it has changed how many people look at the media business. Google's rationale was simple - they make 99% of their revenue from advertising. Today it was announced that their market cap has passed Time Warner's making them the largest media company in the world. All of this from a company that is barely a decade old.
  
  See the headline of the article below from the Hollywood Reporter.
  
  Google tops TW as Street's No. 1 media stock
  
  Wall Street has determined that Google Inc. is the most valuable media company on the planet. Shares of the company that went public in August at $75 rose $10.68 on Monday to close at $290.94, giving the new-media youngster a market capitalization of $80.8 billion, according to Yahoo! Finance. Meanwhile, shares of Time Warner, which until Monday was considered the world's biggest media company, dropped 23 cents to $17.02, giving the company a $79.8 billion market cap. Google's stock performance has been extraordinary of late, harkening back to the Internet bubble days, with one important difference: profit. An analyst with RBC Capital Markets said Google could earn about $1 billion this year and more than $2.5 billion in 2007. (Paul Bond)
  
  • 20 Jun 2005, 09:30 am
  Shrinath Navghane wrote: > Dear iEC, > > Well, it finally happened. Ever since Google announced in their last > Quarterly Report that they are now a Media Company instead of > technology company it has changed how many people look at the media > business. Google's rationale was simple - they make 99% of their > revenue from advertising. Today it was announced that their market > cap has passed Time Warner's making them the largest media company in > the world. All of this from a company that is barely a decade old. > > See the headline of the article below from the Hollywood Reporter. > > Google tops TW as Street's No. 1 media stock > > Wall Street has determined that Google Inc. is the most valuable > media company on the planet. Shares of the company that went public > in August at $75 rose $10.68 on Monday to close at $290.94, giving > the new-media youngster a market capitalization of $80.8 billion, > according to Yahoo! Finance. Meanwhile, shares of Time Warner, which > until Monday was considered the world's biggest media company, > dropped 23 cents to $17.02, giving the company a $79.8 billion market > cap. Google's stock performance has been extraordinary of late, > harkening back to the Internet bubble days, with one important > difference: profit. An analyst with RBC Capital Markets said Google > could earn about $1 billion this year and more than $2.5 billion in > 2007. (Paul Bond)