Fox, Liberty Media Top Disney as Most Profitable Media Corps
The Walt Disney Company is one of the most profitable media conglomerates in the world, but last year the Mouse House slipped to third place in earnings.
The top earning media corporation in 2013 was Liberty Media, best known for owning Sirius XM satellite radio service.
Liberty's income soared 537 percent to $9 billion, a new report by SNL Kagan says.
The report also found that second place 21st Century Fox, along with News Corp. and its hottest property Fox News Network, also saw a big surge in earnings. Its 434 percent jump in profits gave it $7.3 billion in net income.
As for Disney, it's earnings only rose 7.5 percent netting it $6.6 billion at year's end putting it in third place.
"Disney was 2012's net-income champion, but in 2013 several factors got in the way of it repeating that feat, including a $321 million charge for litigation and $214 million in charges related to impairment and restructuring, according to Kagan," The Hollywood Reporter reported.
Other top earning media giants were Time Warner, whose 26 percent gain in net income gave it $3.7 billion. Viacom was next with a 21 percent jump giving the company $2.4 billion in earning. And CBS, up 19 percent, earned $1.9 billion.
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