Netflix briefly dethroned Disney as the world’s top media stock
$152.5 billion
Netflix and Disney are in a battle for stock market supremacy, with the streaming TV and film platform briefly overtaking its rival on Thursday.
Published
| Photo by Reuters/Gonzalo Fuentes It was a short but groundbreaking moment for Netflix, which saw its market value rise to $152.5 billion as Disney dipped to $152.1 billion.
That drop came as Comcast revealed its plans to make a hostile and superior bid for 21st Century Fox—which Disney previously agreed to buy for $52.4 billion in cash and stock.
Market capitalization
However, Comcast is holding its bid until regulators rule on the Justice Department’s lawsuit against AT&T and Time Warner’s proposed merger—a gigantic deal worth $85 billion.
For Disney, buying up Fox’s TV and film properties is a critical play. It’ll need the content as it enters the streaming-video space—where it’ll do battle with none other than Netflix.
Netflix stock high since 2002 IPO
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