Netflix Is King No More as Disney Retakes Media-Company Crown
- Company adds about 1 million fewer subscribers than expected
- Relative lack of new hit shows may have weighed on growth
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Netflix Inc.’s reign as top media company didn’t last long.
Walt Disney Co. has reclaimed the title of the world’s most valuable media company after Netflix shares tumbled as much as 14 percent Tuesday following a disappointing earnings report. The video-streaming service is now worth $153.8 billion, putting it squarely in second place behind Disney’s $166.8 billion market cap.