Netflix overtakes Disney to become most valuable US media company- News post
https://www.theguardian.com/media/2018/may/24/netflix-disney-most-valuable-media-company-latest-list
Netflix’s stock is up 70% since January. Netflix shares jumped energetically in Thursday morning trading and by 12.15pm local time in New York, the stock was up 1.9%, to an all-time high of $351.09 per share. That gave the company a market capitalization of nearly $162bn.
Disney, by contrast, was down 1.1% to $101.74 per share, giving it a market value of $151.6bn. Disney’s drop was based largely on fears that the cable operator and NBCUniversal parent Comcast, armed with $60bn in cash, might prevail in a battle with Disney for Fox assets.
Streaming giant Netflix is riding high on news of a multimillion-dollar deal with Barack and Michelle Obama to use their newly created TV production house, Higher Ground Productions, to create shows.
Netflix’s stock is up 70% since January. Netflix shares jumped energetically in Thursday morning trading and by 12.15pm local time in New York, the stock was up 1.9%, to an all-time high of $351.09 per share. That gave the company a market capitalization of nearly $162bn.
Disney, by contrast, was down 1.1% to $101.74 per share, giving it a market value of $151.6bn. Disney’s drop was based largely on fears that the cable operator and NBCUniversal parent Comcast, armed with $60bn in cash, might prevail in a battle with Disney for Fox assets.
Streaming giant Netflix is riding high on news of a multimillion-dollar deal with Barack and Michelle Obama to use their newly created TV production house, Higher Ground Productions, to create shows.
The competition for creative talent has also been joined by Apple, Google and Amazon, each pouring billions of dollars into content production. That’s led to a sharp rises in costs – and a payday for talent – with traditional entertainment studios struggling to match Silicon Valley’s deep pockets.
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