$80bn Google takes top media spot

[Bond]

Internet search phenomenon Google has overtaken a swathe of venerable rivals to become the world's biggest media company by stock market value.

After its shares hit an all-time high on the New York markets on Tuesday, Google is now worth $80bn (£44bn).

This takes it ahead of media leviathan Time Warner, which is valued at $78bn.

The valuation comes in spite of the fact that Google's annual sales total just $3.2bn, a fraction of Time Warner's $42bn.

Source: BBC

You have to believe that Google's shares are overpriced right now and that the stock will eventually collapse, but it's still cool that a website is now the biggest media company