Liberty surpasses Disney as most profitable media conglomerate

Washington, Mar. 21: Liberty has overtaken Disney to become one of the most profitable media conglomerate.

SNL Kagan said Liberty’s fortunes soared in 2013 due to a savvy investment in SiriusXM Radio.

According to Hollywood Reporter, Disney’s net income in 2013 rose 7.5 percent to 6.6 billion dollars while Liberty’s soared 537 percent to 9 billion dollars, SNL Kagan said.

Liberty gained a significant victory by amassing millions of shares of SiriusXM and recording a whopping 7.5 billion dollars gain on in the first quarter of 2013.(ANI)