News Corporation becomes largest media empire in the world

'Rupert Murdoch's News Corporation has become the largest capitalized media corporation in the world, surpassing rival Time Warner, $67.79 billion to $67.32 billion. At close Friday, News Corp. was first at $67.79 billion, followed by Time Warner ($67.32 billion), Disney ($65.62 billion), Sony ($45.29 billion), Viacom ($26.98 billion) and CBS ($21.11 billion), according to Hollywood Reporter. Murdoch recently bought the Wall Street Journal and started the Fox Business Network to compete with CNBC.'

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