Google is now the world's biggest media company by stock market value.
From the BBC: "Google is now worth $80bn. 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.... (some financial analysts) maintain that Google's high stock value reflects its future earning potential and that its shares could go as high as $325-350."
People have short memories.
BBC NEWS | Business | $80bn Google takes top media spot