Liberty surpasses Disney as most profitable media conglomerate

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.