Streaming giant, Netflix has overtaken Disney as the most valuable US media company.
Reports say that Disney’s problems acquiring 21st Century Fox’s TV and film assets, as well as the ongoing changes in entertainment media consumption habits, has been blamed for Disney’s position.
Netflix’s stock has risen to 70% since January, signally a further increase in its subscription numbers. Its shares jumped on Thursday morning trading. Its stock was up at 1.9%, to a record high of $351.09 per share, this compares to Disney’s stock at 1.1% to $101.74 per share.
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