May
24
Netflix tops Disney market value, becoming No. 1 media stock
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Netflix soared past Walt Disney Co. in market value Thursday, taking the title of most valuable media company from the film, TV and theme-park giant.
Shares of the video streaming service rose as much as 2 percent to $351.48 in New York, and the company’s market cap topped $152 billion, exceeding the value of Disney, which was down 1.6 percent, according to data compiled by Bloomberg.
The advance underscores the high confidence investors have in the future of the world’s largest paid online video service. Netflix’s value has surged from about $20 billion at the end of 2014 to surpass the world’s most powerful media giants, Comcast Corp. and Disney, this week.
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