Today the price of Google's stock reached a new high that set their total market value above any other publicly traded media company. This literally means that Google is the number one media company in the world.

I think it's about time, and unlike past stock market mania, this is genuine and legit. Media is obviously an obtuse and general term that has many meanings. Nonetheless, Google is a dominant force in our culture, not to mention a dominant commercial force in the global economy. The days of Google as the underdog are over, now the time has come for Google to show leadership and responsibility. I am quite optimistic about what Google can do, and enable, so my hopes are high. Unfortunately I did not buy any stock near the time of the IPO and still to this day do not own any Google. I can't help but feel that I may regret not doing more to obtain some.

To quote the Reuters piece:

Google's share price on the Nasdaq rose another $2.18, or 0.75 percent, to close at $293.12 on Tuesday, an all-time high. Stock market analysts have suggested the stock could go as high as $325 or $350 a share.

With a current stock market capitalization of more than $80 billion, Google is now worth more than any other media company in the world. That includes Time Warner, created five years ago when AOL purchased Time Warner for $106 billion in a much-hyped combination of old and new media.

Source: Reuters.com

Update: On June 10th I made an appearance on CBC Business News on Newsworld to discuss this story. You can watch the segment here, and offer comments below. Since then Google stock has risen above $300.