News Corporation is the world’s third-largest media conglomerate (behind The Walt Disney Company and Time Warner). The company’s Chairman & Chief Executive Officer is Rupert Murdoch. News Corp was created in 1979 by Murdoch as a holding company for News Limited (which he inherited in 1952 following the death of his father, Sir Keith Murdoch). The main asset left to him was ownership of the Adelaide afternoon tabloid, The News.
News Ltd. made its first acquisition in the United States in 1973, when it purchased the San Antonio Express-News. Soon afterwards it founded the National Star, a supermarket tabloid, and in 1976 it purchased the New York Post. In 1981 News Corp bought half of the movie studio 20th Century Fox, buying the other half in 1984. In 1996, Fox established the Fox News Channel, a 24-hour cable news station to compete against Ted Turner’s rival channel CNN. In 2007 News Corporation reached an agreement to purchase Dow Jones, publishers of The Wall Street Journal, for an estimated $5.6 billion.
The Daily Omnivore 
Leave a comment