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Google Becomes World's Biggest Media Company
Since Google has become a publicly traded company, their value has done nothing but increase. Since the first day of trading, Google's stock has continued to increase in price and value.
Starting at a rate of $85 a share, Google's stock price has steadily increased to its current rate of $283.77 (which is actually down from an almost $300 high). Because of this exponential increase, Reuters is reporting that Google is now the world's largest, most valuable media company, all in just 10 months worth of trading.
With Google's estimated worth is hovering around $80 billion, the search engine is now worth more than any other media company, including the media goliath, Time Warner, who was purchased by AOL five years ago for a reported $106 billion. Unfortunately for Time Warner, ever since the tech stock crash, their value has seen a significant decrease (current estimated value = $78.1 billion).
Google's closest search industry competitor, Yahoo.com, is worth $27 billion less than the Mountain View-based search engine. Some fear Google's astronomical rise may have overpriced the company and brings back memories of the aforementioned tech stock days.
To bolster this fear, analysts point to the fact that Google totaled $3.2 billion in sales in 2004, as opposed to the $42 billion generated by Time Warner sales. Despite these misgivings, none of the analysts polled by Reuters listed Google's stock as a sell.
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About the Author:
Chris Richardson is a search engine writer and editor for WebProNews. Visit WebProNews for the latest search news.
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Chris Richardson
