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{{Short description|American media company (1980–2013)}}{{about|the media company that existed from 1980 to 2013|the companies split off in 2013|21st Century Fox|and|News Corp}}{{Use American English|date=October 2012}}{{Use mdy dates|date=April 2019}}







factoids
(Class A){{NASDAQ wasAustralian Securities Exchange>ASX: NWSLV (Class A) ASX: NWS (Class B)| industry = Mass media21st Century Fox and News Corp>the second incarnation of News Corporation| predecessor = {edih}
  • in Adelaide, South Australia (as News Corp Limited)
  • in Wilmington, Delaware, U.S. (as News Corporation)NEWS,weblink BBC News, News Corp investors agree US move, October 26, 2004, March 27, 2010, NEWS,weblink The New York Times, Market Place; News Corp. Plans to Follow Its Chief to the United States, Geraldine, Fabrikant, April 7, 2004, March 27, 2010, }}
Rupert Murdoch| owner = Murdoch family (39% voting power)| hq_location = 1211 Avenue of the Americas| location_city = New York City, New York| hq_location_country = U.S.| area_served = WorldwideRupert Murdoch(chairman and CEO)Chase Carey(president & {{abbr>COO|Chief operating officer}})}}Cable television>Cable network programming, Filmed entertainment, Television, direct-broadcast satellite television, Publishing, and other| divisions = Fox Entertainment GroupFox Networks Group {edih}url=https://web.archive.org/web/20130624010715weblinktitle=newscorp.com}}}}The original incarnation of News Corporation (abbreviated News Corp. and also variously known as News Corporation Limited) was an American multinational mass media corporation controlled by media mogul Rupert Murdoch and headquartered at 1211 Avenue of the Americas in New York City. Prior to its split in 2013, it was the world's largest media company in terms of total assets and the world's fourth largest media group in terms of revenue. It had become a media powerhouse since its inception, dominating the news, television, film, and print industries.MAGAZINE,weblink Forbes, Forbes, April 1, 2015, NEWS,weblink CNN, Fortune, May 20, 2010, WEB,weblink PowerPoint Presentation, July 11, 2011, dead,weblink" title="web.archive.org/web/20110608032539weblink">weblink June 8, 2011, NEWS,weblink CNN, Why Disney wants DreamWorks, February 9, 2009, May 20, 2010, Richard, Siklos, WEB,weblink News Corporation – Annual Report 2007, Newscorp.com, June 30, 2007, July 11, 2011, dead,weblink" title="web.archive.org/web/20110629125219weblink">weblink June 29, 2011, News Corporation was a publicly traded company listed on the Nasdaq. Formerly incorporated in Adelaide, South Australia, the company was re-incorporated under Delaware General Corporation Law after a majority of shareholders approved the move on November 12, 2004. News Corporation was headquartered at 1211 Avenue of the Americas, New York, in the newer 1960s–1970s corridor of the Rockefeller Center complex.On June 28, 2012, after concerns from shareholders in response to its recent scandals and to "unlock even greater long-term shareholder value", founder Rupert Murdoch announced that News Corporation's assets would be split into two publicly traded companies,WEB,weblink Uh-oh! Looks like your site is down, www.bowmanandcompany.com.au, {{failed verification|date=September 2022}} one oriented towards media, and the other towards publishing. The formal split was completed on June 28, 2013; where the original News Corp. was renamed 21st Century Fox and consisted primarily of media outlets, while a new News Corporation was formed to take on the publishing and Australian broadcasting assets.Its major holdings at the time of the split were News Limited (a group of newspaper publishers in Murdoch's native Australia), News International (a newspaper publisher in the United Kingdom, whose properties include The Times, The Sun, and the now-defunct News of the World (the subject of a phone hacking scandal that led to its closure in July 2011), Dow Jones & Company (an American publisher of financial news outlets, including The Wall Street Journal), the book publisher HarperCollins, and the Fox Entertainment Group (then owners of the 20th Century Fox film studio and the Fox television network).

History

News Corp was established in 1980 by Rupert Murdoch, as a holding company for News Limited. News Limited was founded in 1923 in Adelaide by James Edward Davidson, funded by the Collins House mining empire for the purpose of publishing anti-union propaganda;WEB, Young, Sally, The secret history of News Corp: a media empire built on spreading propaganda,weblink The Conversation, May 15, 2019, 31 January 2021, WEB, Merrett, D.T., Collins House,weblink eMelbourne, School of Historical & Philosophical Studies, University of Melbourne, 31 January 2021, subsequently the controlling interest was bought by the Herald & Weekly Times. In 1949, Keith Murdoch took control of Adelaide's afternoon tabloid The News. When he died in 1952, his son Rupert inherited a controlling interest in The News. News Limited operates today as News Corporation's Australian brand and includes ownership of The Australian operating out of Surry Hills, in Sydney.

Expansion into the United States

News Ltd. made its first acquisition in the United States in 1973, when it purchased the San Antonio Express and News (the two papers merged in 1984).WEB, July 29, Julie Domel on, PM, 2011 at 3:38, 2011-07-29, Rupert Murdoch's 1973 purchase of E-N,weblink 2021-04-07, From the Vault, MySA/San Antonio Express-News, en-US, July 14, 2021,weblink dead, Soon afterwards it founded the National Star, a supermarket tabloid, and in 1976 it purchased the New York Post from Dorothy Schiff for $31 million.NEWS,weblink Dorothy Schiff Agrees to Sell Post To Murdoch, Australian Publisher, The New York Times, November 20, 1976, December 8, 2022, In 1984, News Corp acquired the Chicago Sun-Times from Field Enterprises (later sold in 1986 to the American Publishing Company subsidiary of Canada-based Hollinger) for $90 million and Travel Weekly and other trade magazines from Ziff Davis.NEWS,weblink MURDOCH BUYS CHICAGO SUN-TIMES, The New York Times, November 2, 1983, December 13, 2022, NEWS, 0362-4331, Wayne, Leslie, Murdoch Buys 12 Ziff Publication, The New York Times, July 21, 2018, November 22, 1984,weblink In March 1985, News Corp bought a 50% stake in TCF Holdings, the holding company of the movie studio 20th Century Fox from Marc Rich for $162 million, and later acquired the remaining stake from Marvin Davis in September for $325 million.NEWS, Stevenson, Richard W.,weblink MURDOCH IS BUYING 50% OF FOXdate=March 21, 1985URL=HTTPS://WWW.WASHINGTONPOST.COM/ARCHIVE/BUSINESS/1985/03/21/MURDOCH-AGREES-TO-BUY-A-50-PERCENT-SHARE-OF-20TH-CENTURY-FOX-FILM/8862819B-50DE-4AD3-AEB5-70CA84F109F1NEWSPAPER=WASHINGTON POSTACCESSDATE=DECEMBER 13, 2022, STORCH>FIRST=CHARLESTITLE=MURDOCH BUYING HALF OF 20TH CENTURY-FOXCHICAGO TRIBUNE>DATE=MARCH 21, 1985NEWSPAPER=THE WASHINGTON POSTACCESSDATE=DECEMBER 14, 2022, HTTPS://WWW.NYTIMES.COM/1985/09/24/BUSINESS/MURDOCH-WILL-BUY-OUT-DAVIS-S-HOLDINGS-IN-FOX.HTML>TITLE=MURDOCH WILL BUY OUT DAVIS'S HOLDINGS IN FOXDATE=SEPTEMBER 24, 1985NEWSPAPER=LOS ANGELES TIMESACCESSDATE=DECEMBER 14, 2022, Two months after the acquisition of the 50% stake in TCF Holdings, on May 6, 1985, News Corp announced it was buying the Metromedia television stations and its syndication arm Metromedia Producers Corporation from John Kluge for $3.5 billion, setting the stage for the launch of a fourth U.S. commercial broadcasting television network.NEWS,weblink MURDOCH TO BUY & TV STATIONS; COST $2 BILLION, The New York Times, May 7, 1985, December 14, 2022, EPISODE, Rupert Murdoch buys Metromedia, The 10 O'Clock News,weblinkweblink December 12, 2021, live, December 14, 2022, WNEW-TV, New York City, May 4, 1985, 00:00, en, YouTube, {{cbignore}} On September 4, 1985, Murdoch became a naturalized citizen to satisfy the legal requirement that only United States citizens could own American television stations.NEWS,weblink Murdoch Becomes U.S. Citizen, Can Buy TV Network, Los Angeles Times, September 4, 1985, December 14, 2022, In 1986, the Metromedia deal was completed, and the Fox Broadcasting Company, simply known as Fox, launched on October 9, with Joan Rivers' The Late Show as its late-night program, it would later air prime-time programming starting in April 1987.

Expansion and consolidation

In 1986 and 1987, News Corp (through subsidiary News International) moved to adjust the production process of its British newspapers, over which the printing unions had long dominated.weblink" title="web.archive.org/web/20070930055858weblink">Revolution on Fleet Street, Time, August 21, 1996. A number of senior Australian media moguls were brought into Murdoch's powerhouse, including John Dux, who was managing director of the South China Morning Post. This led to a confrontation with the printing unions National Graphical Association and Society of Graphical and Allied Trades. The move of News International's London operation to Wapping in the East End resulted in nightly battles outside the new plant. Delivery vans and depots were frequently and violently attacked. Ultimately the unions capitulated.{{Citation needed|date=May 2013}}In 1987, News Corp acquired the book publisher Harper and Row for $300 million,NEWS, McDowell, Edwin,weblink MURDOCH TO BUY HARPER & ROW IN SURPRISE DEAL, The New York Times, March 31, 1987, December 8, 2022, NEWS,weblink Murdoch to Buy Harper & Row for $300 Million, Los Angeles Times, March 31, 1987, December 8, 2022, and later acquired the British book publisher William Collins, Sons in 1989 for $721 million, who later merged with Harper to form HarperCollins that same year.NEWS,weblink Murdoch Takes Over Collins For $721 Million, Los Angeles Times, January 7, 1989, December 8, 2022, NEWS,weblinkwork=United Press Internationalaccessdate=December 8, 2022, COHEN>FIRST=ROGERTITLE=THE MEDIA BUSINESS; BIRTH OF A GLOBAL BOOK GIANTDATE=JUNE 11, 1990, December 8, 2022, In 1988, News Corp acquired the Philadelphia-based Triangle Publications, publisher of the magazines TV Guide, Seventeen, and the Daily Racing Form for $3 billion.NEWS, 0362-4331, Eichenwald, Kurt, THE MEDIA BUSINESS; Murdoch Agrees to Buy TV Guide In a $3 Billion Sale by Annenberg, The New York Times, July 21, 2018, August 8, 1988,weblink To raise money, the trade publications were sold to Reed International.NEWS, 0362-4331, Fabrikant, Geraldine, Murdoch to Sell Travel Businesses, The New York Times, July 21, 2018, May 6, 1989,weblink By 1992, News Corp had incurred large debts, which forced it to sell many of the American magazine interests it had acquired in the mid-1980s to K-III Communications, as well spinning off long-held Australian magazines interests as Pacific Magazines. Much of this debt came from its stake in the Sky Television satellite network in the UK, which incurred massive losses in its early years of operation, which (like many of its business interests) was heavily subsidised with profits from its other holdings until it was able to force{{Citation needed|date=May 2013}} rival satellite operator BSB to accept a merger on its terms in 1990. (The merged company, BSkyB, has dominated the British pay-TV market since.)In 1993, News Corp acquired a 63.6% stake of the Hong Kong-based STAR TV satellite network from Pearson for over $500 million, followed by the purchase of the remaining 36.4% in July 1995.NEWS,weblink Variety, Murdoch catches rising Star, Rhonda, Palmer, July 27, 1993, NEWS,weblink The New York Times, THE MEDIA BUSINESS; Star TV Extends Murdoch's Reach, Philip, Shenon, August 23, 1993, Murdoch declared that:NEWS, George Monbiot,weblink The most potent weapon wielded by the empires of Murdoch and China, The Guardian, April 22, 2008, July 11, 2011, London, In 1995, the Fox network became the object of scrutiny from the Federal Communications Commission (FCC) when it was alleged that its Australian base made Murdoch's ownership of Fox illegal. The FCC, however, ruled in Murdoch's favor, stating that his ownership of Fox was in the public's best interests. It was also noted that the stations themselves were owned by a separate company whose chief shareholder was a U.S. citizen, Murdoch, although nearly all of the stations' equity was controlled by News Corp. In the same year, News Corporation announced a deal with MCI Communications to develop a major news website as well as funding a conservative news magazine, The Weekly Standard. In the same year, News Corp launched the Foxtel pay television network in Australia in a partnership with Telstra and Publishing & Broadcasting Limited.On July 17, 1996, News Corporation announced that it would acquire television production and broadcasting company New World Communications (who acquired a 20% stake in 1994 for $200 million), for $2.48 billion in stock and was completed on January 22, 1997.NEWS,weblink THE MEDIA BUSINESS; Murdoch's News Corp. Buying New World, The New York Times, Reuters, July 18, 1996, December 8, 2022, NEWS,weblink New World Vision : Murdoch's News Corp. to Buy Broadcast Group, Los Angeles Times, July 18, 1996, December 8, 2022, On October 7, 1996, the Fox Entertainment Group launched the Fox News Channel, a 24-hour cable news network to compete against Time Warner's rival channel CNN.NEWS,weblink Fox Presents Its Lineup for News Channel, The New York Times, September 5, 1996, Mifflin, Lawrie, In 1999, News Corporation significantly expanded its music holdings in Australia by acquiring the controlling share in a leading Australian-based label, Michael Gudinski's Mushroom Records, merging it with already held Festival Records to create Festival Mushroom Records (FMR). Both Festival and FMR were managed by Rupert Murdoch's son James Murdoch for several years.Also mid 1999, The Economist reported that News Corp paid comparatively lower taxes, and Newscorp Investments specifically had made £11.4 billion ($20.1 billion) in profits over the previous 11 years but had not paid net corporation tax. It also reported that after an examination of the available accounts, Newscorp could normally have been expected to pay corporate tax of approximately $350 million. The article explained that in practice, the corporation's complex structure, international scope, and use of offshore tax havens allowed News Corporation to pay minimal{{Clarify|date=May 2013}} taxes.WEB,weblinkweblink" title="web.archive.org/web/20080117220633weblink">weblink dead, Rupert Murdoch Laid Bare, January 17, 2008, NEWS,weblink Tax free: Rupert Murdoch's zero status, BBC News, March 25, 1999, April 25, 2010,

Further development

In late 2003, News Corp acquired a 34% stake in Hughes Electronics (now DirecTV Group), operator of the largest American satellite TV system, from General Motors for US$6 billion.NEWS,weblink G.M. Board Set to Sell Control Of Hughes Unit to News Corp., The New York Times, April 10, 2003, December 8, 2022, DirecTV was sold to Liberty Media in 2008 in exchange for its stake in News Corporation.In January 2005, shortly after reincorporation in the United States, News Corporation announced that it was buying out Fox Entertainment Group.NEWS, Lazaroff, Leon, Murdoch to buy out Fox shares,weblink October 11, 2012, Chicago Tribune, January 11, 2005, The manoeuvre delisted Fox from the New York Stock Exchange; Fox had traded on the NYSE under the ticker FOX.WEB, News Corporation Completes Acquisition of Fox,weblink News Corp, October 11, 2012, In 2004, Murdoch set aside $2 billion and handpicked a team of young executives to look at possible ways to use the Web as a distribution platform. That team was composed of four rising stars: Ross Levinsohn, Adam Bain, Travis Katz, and Michael Kirby. The four became the backbone of what would become News Corp's digital division, Fox Interactive Media.NEWS, 2011-04-07, Special report: How News Corp got lost in Myspace, en, Reuters,weblink 2020-05-26, Shortly after, in July 2005, News Corporation purchased the social networking website Myspace for $580 million.WEB, Lapinski, Trent, MySpace: The Business of Spam 2.0 (Exhaustive Edition),weblink ValleyWag, September 11, 2006, March 13, 2008, dead,weblink" title="web.archive.org/web/20080312041913weblink">weblink March 12, 2008, NEWS, News Corp in $580m internet buy,weblink BBC News, July 19, 2005, March 13, 2008, News Corporation had beat out Viacom by offering a higher price for the website,MAGAZINE, Haden, Jeff,weblink MySpace Layoffs Are A Good Reminder how Uncool Rupert Murdock's acquisition of the social media was?, Time, January 12, 2011, June 30, 2012, and the purchase was seen as a good investment at the time. Of the $580 million purchase price, approximately $327 million has been attributed to the value of Myspace according to the financial adviser fairness opinion.PRESS RELEASE, Internet Entrepreneur & Myspace Founder Brad Greenspan Leads Investment Group Seeking to Take Non-Controlling Stake in Dow Jones Corp.,weblink PR Newswire, June 20, 2007, March 13, 2008, Within a year, Myspace had tripled in value from its purchase price.In February 2007, Murdoch announced at the McGraw-Hill Media Summit that the Fox Entertainment Group would launch a new business news channel later in the year, which would compete directly against rival network CNBC. Murdoch explained that the channel would be more "business-friendly" than CNBC, because he felt that they "leap on every scandal, or what they think is a scandal."weblink" title="web.archive.org/web/20090830081743weblink">Rupert Murdoch Speaks His Mind, Business Week, February 2007. In July 2007, News Corp. reached a deal to acquire Dow Jones & Company, owners of The Wall Street Journal, for $5 billion.NEWS, Murdoch Wins His Bid for Dow Jones,weblink The Wall Street Journal, May 11, 2013, Despite CNBC already having a contract with Dow Jones to provide content and services to the network, the Fox Entertainment Group officially launched the Fox Business Network on October 15, 2007. Alexis Glick, the network's original morning show host and vice president of business news, indicated that its lawyers had reviewed the details of Dow Jones' contract with CNBC, but noted that it would still "actively use" other Dow Jones properties.Fox Business makes TV debut, Hollywood Reporter, 16 October 2007. {{Retrieved|access-date=October 17, 2007}} {{webarchive |url=https://web.archive.org/web/20071017011534weblink |date=October 17, 2007 }}Fox Business Network blazes new trail, USA Today, 14 October 2007. {{Retrieved|access-date=October 17, 2007}}In September 2009, News Corp established NewsCore, a global wire service set up to provide news stories to all of News Corp's journalistic outlets.Rupert Murdoch's News Corp launches global service to link all its outlets, Guardian.co.uk, 7 September 2009. {{Retrieved|access-date=September 15, 2010}}In April 2010, News Corporation sold Bulgarian broadcaster bTV, which it launched on 1 June 2000, as part of a deal to Central European Media Enterprises (CME) for $400 million in addition to another $13 million for working capital adjustment. The deal included cable channels bTV Comedy and Btv Cinema and News Corporation's 74% stake in Radio Company CJ which included five radio stations.WEB,weblink News Corporation Completes Sale of Bulgaria's bTV to CME, April 20, 2010, www.novinite.com, In September 2010, due to the Fijian government's requirement that the country's media outlet must be 90% owned by Fiji Nationals, News Corporation sold 90% of their stake in their Fijian newspapers (Fiji Times, Nai Lalakai, and Shanti Dut) to Motibhai Group of Companies.NEWS, News Limited sells Fiji Times to Fijian company Motibhai, Staff writers of The Australian,weblink The Australian, September 15, 2010, January 29, 2011, In November 2010, News Corp purchased education technology and student progress tracking company Wireless Generation for $360 million. The company was the NY City Education Department's partner for its School of One pilot program (now Teach to One).NEWS,weblink News Corp., After Hiring Klein, Buys Technology Partner in a City Schools Project, Fernanda, Santos, The New York Times, November 24, 2010, NYTimes.com, In late February 2011, News Corp officially put the now-struggling Myspace up for sale, which was estimated to be worth $50–200 million.NEWS,weblink Reuters, News Corp taps Allen & Co for MySpace interest – sources, February 5, 2011, Losses from the last quarter of 2010 were $156 million, over double of the previous year, which dragged down the otherwise strong results of parent News Corp. Its struggles were attributed to the growth of the competing social network Facebook.NEWS, Vascellaro, Jessica E.,weblink News Corp. Selling Myspace to Specific Media, The Wall Street Journal, June 30, 2011, October 23, 2011, NEWS,weblink The Wall Street Journal, Jessica E., Vascellaro, Russell, Adams, Myspace Opens Books to Prospective Buyers, February 25, 2011, The deadline for bids, May 31, 2011, passed without any above the reserve price of $100 million being submitted.NEWS,weblink All Things D, Kara, Swisher, The Myspace Sweepstakes Drag on–Another Bid Deadline Today As Sale Deadline Looms, June 3, 2011, The rapid deterioration in Myspace's business during the most recent quarter had deterred many potent suitors. Later in June, Specific Media and pop singer Justin Timberlake bought the site for $35 million, which CNN reported noted was "far less than the $580 million News Corp. paid for Myspace in 2005."NEWS, Laurie Segall,weblink News Corp. sells Myspace to Specific Media, CNN, June 29, 2011, June 29, 2011, Murdoch went on to call the Myspace purchase a "huge mistake".WEB,weblink News Corp.'s Rupert Murdoch calls Myspace buy a 'huge mistake', Los Angeles Times, October 21, 2011, June 30, 2012, On July 13, 2011, Rupert Murdoch announced that the company would withdraw its takeover bid for BSkyB due to concerns relating to the News of the World scandal.NEWS,weblinkweblink" title="web.archive.org/web/20110714013912weblink">weblink dead, July 14, 2011, News of the World phone hacking scandal: timeline, The Daily Telegraph, July 7, 2005, July 14, 2011, London, Indu, Chandrasekhar, Murray, Wardrop, Andy, Trotman, News Corporation already owned, and continues to own, 39.1% of BSkyB.On June 6, 2012, News Corporation announced that it would buy out ESPN Inc.'s stake in ESPN Star Sports to gain full control over the Asia-Pacific sports network.NEWS,weblink News Corp to buy out ESPN from ESS, Sawhney to leave, June 6, 2012, The Hindu, On November 20, 2012, News Corporation announced that it would acquire a 49% stake in the regional sports network YES Network, owned by the Major League Baseball team New York Yankees.NEWS,weblink News Corp Acquires YES Network, The Hollywood Reporter, November 21, 2012, December 8, 2022, NEWS,weblink News Corp. to acquire stake in Yankees' regional sports channel, CTV News, November 20, 2012, December 8, 2022, NEWS,weblink News Corp. Acquires Stake In YES Network, But How Does It Affect 'Fox Sports 1'?, TVNewser, Adweek, November 20, 2012, December 8, 2022, In January 2013, News Corp. attained 54.5% majority control of Sky Deutschland.NEWS,weblink News Corp to grab control of Sky Deutschland, Christoph Steitz, Harro Ten Wolde, amp, Reuters, January 14, 2013, On February 4, 2013, News Corporation announced the sale of IGN and its related properties to the publishing company Ziff Davis. News Corp. had planned to spin-off IGN as an independent company, but failed to do so.NEWS, News Corp.'s IGN Poised to Sell to J2's Ziff Davis,weblink The Wall Street Journal, February 4, 2013, WEB, IGN Entertainment sold by News Corp to publisher Ziff Davis,weblink Digital Spy, February 4, 2013,

Scandals

In July 2011, News Corp closed down the News of the World newspaper in the United Kingdom due to allegations of phone hackings. The allegations include trying to access former Prime Minister Gordon Brown's voice mail, and obtain information from his bank accounts, family's medical records, and private legal files. Allegations of hacking have also been brought up in relation to former Prime Minister Tony Blair, and the Royal Family.NEWS, Nick Davies, David Leigh, amp,weblink News International papers targeted Gordon Brown, The Guardian, July 11, 2011, July 14, 2011, London, Other allegations put out by The Guardian newspaper include the exploitation, with intent to gain access to or use private information, of a list of 4,332 names or partial names, 2,987 mobile phone numbers, 30 audio tapes of varying length and 91 PIN codes, of a kind required to access the voicemail of the minority of targets who change the factory settings on their mobile phones.NEWS,weblink Our phone hacking victims list, The Guardian, July 12, 2011, July 14, 2011, The names are said to include those of British victims of September 11, 2001 terror attacks, family members of victims of the "7/7" bombings on London's transit system, family members of British troops killed overseas, Milly Dowler, a 13-year-old missing British girl who was later found dead, actor Hugh Grant and a lawyer representing the family of Princess Diana's lover at the inquest into her death.On July 13, 2011, News Corp withdrew its bid to purchase the final 61% stake in BSkyB after pressure from both the Labour and Conservative Parties in Parliament.NEWS,weblink UPDATE 1-BSkyB investors eye cash after deal collapse, Reuters, July 13, 2011, July 14, 2011, Kate, Holton, Allegations about the violation of ethical standards by the News Corporation subsidiary News of the World have been speculatively applied to News Corporation holdings in the United States. Senator John Rockefeller (D-WV) stated on July 12, 2011, that there should be a government investigation into News Corporation "to ensure that Americans have not had their privacy violated."NEWS, Stelter, Brian, News Corp. Newspapers May Face U.S. Inquiry,weblink The New York Times, July 14, 2011, July 13, 2011, His statement was echoed on WednesdayNEWS, U.S. lawmakers urge feds to investigate Murdoch media company,weblink December 5, 2017, July 14, 2011, by Sen. Robert Menendez (D-NJ), who specifically requested an investigation into 9/11 victims, as well as Sen. Frank Lautenberg (D-NJ) who encouraged an investigation by the Securities and Exchange Commission. On July 13, 2011, Representative Peter King (R-NY) wrote a letter to the FBI requesting an investigation into News Corporation's ethical practices, and on July 14, the FBI opened a probe into the hacking of 9/11 victims.NEWS, Rashbaum, William, F.B.I. Opens Inquiry Into Hacking of 9/11 Victims,weblink The New York Times, July 14, 2011, July 14, 2011, Les Hinton, chief executive of the media group's Dow Jones, resigned on July 15, saying, "I have seen hundreds of news reports of both actual and alleged misconduct during the time I was executive chairman of News International and responsible for the company. The pain caused to innocent people is unimaginable. That I was ignorant of what apparently happened is irrelevant and in the circumstances I feel it is proper for me to resign from News Corp, and apologize to those hurt by the actions of the News of the World."NEWS, BBC, BBC, News Corp's Les Hinton resigns amid phone-hack scandal,weblink BBC, July 14, 2011, In 2012, following a BBC Panorama report, allegations were made that News Corp subsidiary NDS Group had used hackers to undermine pay TV rivals around the world. Some of the victims of the alleged hacking, such as Austar, were later taken over by News Corp and others such as Ondigital later went bust. NDS had originally been set up to provide security to News Corp's pay TV interests but emails obtained by Fairfax Media revealed they had also pursued a wider agenda by distributing the keys to rival set-top box operators and seeking to obtain phone records of suspected rivals.Chenoweth, Neil Pay TV Piracy Hits News, The Financial Review, March 28, 2012, online Retrieved May 4, 2012 The emails were from the hard drive of NDS European chief Ray Adams. In 2012, it was also revealed that Australian Federal police were working with UK police to investigate hacking by News Corp.Tingle, Laura & Daley, Gemma Federal Police Join News Probe, The Financial Review, March 28, 2012, online Retrieved May 4, 2012

Split

(File:21st Century Fox logo.svg|thumb|upright=1.4|21st Century Fox logo used from 2013 to 2019)On June 28, 2012, Rupert Murdoch announced that, after concerns from shareholders in response to the recent scandals and to "unlock even greater long-term shareholder value", News Corporation's assets would be split into two publicly traded companies, one oriented towards media, and the other towards publishing. News Corp's publishing operations were spun out into a second News Corporation with Robert James Thomson, editor of The Wall Street Journal, as CEO. The original News Corporation, which retained most of its media properties (such as the Fox Entertainment Group and 20th Century Fox) and Murdoch as CEO, was renamed 21st Century Fox. Murdoch remained chairman for both companies.NEWS, News Corp confirms plan to split the media giant,weblink BBC News, June 28, 2012, June 28, 2012, NEWS, News Corp. Will Use Fox Name as Breakup Proceeds,weblink Bloomberg, December 3, 2012, December 3, 2012, NEWS, Sweney, Mark, News Corp's head of demerged newspaper arm may take home £2.5m,weblink December 26, 2012, The Guardian, December 21, 2012, File:News Corp logo 2013.svg|thumb|upright=1.15|Logo for the second News Corporation used since 2013, based on Rupert Murdoch's personal handwritingWEB,weblink News Corp. Unveils Post-Split Logo Based on Rupert Murdoch's Handwriting, Szalai, Georg, May 28, 2013, The Hollywood ReporterThe Hollywood ReporterShareholders approved the split on June 11, 2013. On June 19, 2013, preliminary trading for the new News Corp on the Australian Securities Exchange commenced in preparation for the formal split that was finalized on June 28, 2013. Shareholders received one share of New News Corp for every four shares they owned of the old News Corp. The two new companies began trading on the Nasdaq on July 1, 2013.NEWS,weblink Rupert Murdoch splits empire but keeps faith in tomorrow's newspapers, The Guardian, June 18, 2013, June 18, 2013, WEB, Wall, Matthew,weblink News Corp shareholders vote to split company into two, BBC News, June 11, 2013, June 11, 2013, NEWS, 'New News Corp' makes muted stock market debut, Financial Times, June 19, 2013,weblinkweblink" title="ghostarchive.org/archive/20221210weblink">weblink December 10, 2022, subscription, June 19, 2013, 21st Century Fox and most of its businesses were later acquired by the Walt Disney Company in March 2019; its U.S. broadcasting, sports, and news assets were spun-off to Fox Corporation, which would be retained under Murdoch ownership.

Shareholders

  • In August 2005, the Murdoch family owned only about 29% of the company of which as of June 2013 had been diluted to around 17%. However, nearly all of these shares were voting shares which currently stand at 39% of the total voting shares, and Rupert Murdoch retained effective control of the company. Nonetheless, John Malone of Liberty Media had built up a large stake, with about half of the shares being voting shares. Therefore, in November 2006, News Corporation announced its intention to transfer its 38.5% interest in DirecTV Group to John Malone's Liberty Media; in return it bought back Liberty's 16.3% stake in News Corp., giving Murdoch tighter control of the latter firm.News Corp and Liberty Media, USA Today, December 22, 2006. Murdoch sold 17.5 million class A shares in December 2007.News Corp Murdoch trust sells shares, The Age, November 16, 2007.
  • Another major stakeholder has been Al-Waleed bin Talal, of the Saudi Royal Family. In 1997, Time reported that Al-Waleed owned about five percent of News Corporation.NEWS,weblink December 1, 1997, August 24, 2010, Macleod, Scott, Prince Alwaleed: The Prince and the Portfolio, Time,weblink" title="web.archive.org/web/20100913042810weblink">weblink September 13, 2010, dead, In 2010, Alwaleed's stake in News Corp. was about 7 percent, amounting to $3 billion. In 2013, News Corp. had a $175 million (19 percent) investment in Al-Waleed's Rotana Group, the Arab world's largest entertainment company.Gustin, Sam (August 16, 2010) "News Corp., the Saudi Prince and the 'Ground Zero Mosque'", Daily Finance (AOL), via Rich, Frank (August 21, 2010) "How Fox Betrayed Petraeus",The New York Times, p. WK8 NY ed.. Retrieved August 22, 2010. Al-Waleed sold all his shares in November 2017NEWS,weblink Key Murdoch ally sells stake in 21st Century Fox, Graham Ruddick Media, ((editor)), Dominic, Rushe, The Guardian, November 8, 2017, www.theguardian.com,

Annual conference

News Corporation organized an annual management conference, discussing media issues related to geopolitics. Attendees included News Corporation executives, senior journalists, politicians and celebrities. Previous events were in Cancún, Mexico, and the Hayman Island off the coast of Australia. The events were private and secretive, there are no records available for the agenda or talks given at the conferences, and no uninvited journalists are permitted access.NEWS, Murdoch's Pebble Beach shindig,weblink Australian Broadcasting Corporation, December 1, 2007, The 2006 event in Pebble Beach, California was led by Rupert Murdoch. According to a copy of the agenda leaked to the Los Angeles Times and other media accounts,NEWS, Bono and Blair to join Murdoch on the beach, July 28, 2006,weblink The Guardian, UK, December 1, 2007, Stephen, Brook, issues discussed related from Europe to broadcasting and new media, terrorism to the national policy.NEWS, The PM, the mogul and the secret agenda,weblink The Guardian, UK, December 1, 2007, Gaby, Hinsliff, July 23, 2006, The event included speeches from Murdoch, Actor and former governor of California Arnold Schwarzenegger, former British Prime Minister Tony Blair, Bono, Al Gore, Senator John McCain and Bill Clinton while Israel's President, Shimon Peres, appeared on a panel named "Islam and the West". Other notable attendees included Newt Gingrich and Nicole Kidman.

Political donations

In anticipation of US midterm elections, News Corporation donated $1 million to the Republican Governors Association in June 2010. The move was criticized by Democrats, who said this was evidence of News Corporation's news outlets conservative leanings (see Fox News Channel controversies). The Democratic Governors Association also criticized the donation and demanded more transparency in the reporting by News Corporation companies. DGA head Nathan Daschle wrote to the chairman of News Corporation company Fox News, Roger Ailes: "In the interest of some fairness and balance, I request that you add a formal disclaimer to your coverage any time any of your programs covers governors or gubernatorial races between now and election day."NEWS, Greenslade, Roy,weblink Fox News quiet on News Corp's $1m donation to Republicans, The Guardian, August 20, 2010, July 14, 2011, London, Around the same time, News Corporation also donated $1 million to the United States Chamber of Commerce. The Chamber aggressively supported the Republican effort to retake Congress in 2010.WEB,weblink News Corp. gave $1 million to pro-GOP group, Ben, Smith, Politico, September 30, 2010, July 14, 2011, This donation and an earlier $1 million contribution that News Corporation made to the Republican Governor's Association led media critics to question whether the company had crossed an ethical line for a media company.

Corporate governance

File:Rupert Murdoch - WEF Davos 2007.jpg|right|upright=0.9|thumb|Rupert Murdoch at the World Economic ForumWorld Economic ForumThe company's Board of Directors consisted of 17 individuals at the time of its break up:

Final holdings

News Corporation split up to 21st Century Fox and the current incarnation of News Corporation on June 28, 2013. All media and broadcasting assets, except media assets owned by News Limited, now belong to The Walt Disney Company and Fox Corporation, the legal successors to News Corporation (and 21st Century Fox). Meanwhile, newspapers and other publishing assets, including media assets under News Limited, were spun off as a new News Corp.

Music and radio

Sport

Studios

TV

News Corp agreed to sell eight of its television stations to Oak Hill Capital Partners for approximately $1.1 billion as of December 22, 2007. The stations are US Fox affiliates.NEWS, Kercheval, Nancy, Danielle Rossingh, amp, News Corp. to Sell U.S. TV Stations for $1.1 billion (Update5),weblink Bloomberg, December 22, 2007, subscription, December 22, 2007, These stations, along with those already acquired by Oak Hill that were formerly owned by The New York Times Company, formed the nucleus of Oak Hill's Local TV LLC division.

Broadcast

Satellite television

Cable

Cable TV channels owned (in whole or part) and operated by News Corporation include: PLATFORMS
  • India
    • Hathway Cable & Datacom (22.2%), India's 2nd largest cable network through 7 cities including Bangalore, Chennai, Delhi, Mumbai & Pune
  • Taiwan
    • Total TV (20%), a pay TV platform with JV partner KOO's Group majority owner (80%). News Corp also has a 20% interest in the KOO's Group directly.

Internet

  • News Corp. Digital Media
    • Foxsports.com – website with sports news, scores, statistics, video and fantasy sports
    • Hulu (27%) – online video streaming site in partnership with NBCUniversal and Disney.
    • Flektor – provides Web-based tools for photo and video editing and mashups.
    • Slingshot Labs – web development incubator (Includes the sites DailyFill).
    • Strategic Data Corp – interactive advertising company which develops technology to deliver targeted internet advertising.
    • Scout.comWEB,weblink Scout.com – College Sports, Football Recruiting, National Football League, Fantasy Advice & More Front Page, scout.com,
    • WhatIfSports.com – sports simulation and prediction website. Also provides fantasy-style sports games to play.
  • Indya.comindya.com {{webarchive|url=https://web.archive.org/web/20100611174353weblink |date=June 11, 2010 }} – 'India's no. 1 Entertainment Portal'
  • ROO Group Inc (5% increasing to 10% with performance targets)
  • News Digital Media
    • News.com.auWEB,weblink News.com.au, – Australia's most popular news website in 2013 and as of April 2014WEB,weblink Holidays give Boost to Travel and Gaming Sites, Monique Perry, Head of Media Industry Group, Nielsen, nielsen.com,
    • CareerOne.com.auWEB,weblink Job Search, Upload your Resume, Find employment, careerone.com.au, February 7, 2021, October 8, 2020,weblink dead, (50%) – recruitment advertisement website in partnership with Monster Worldwide.
    • Carsguide.com.auWEB,weblink CarsGuide: Cars for Sale – New & Used Car Sales, CarsGuide,
    • in2mobi.com.auWEB,weblinkweblink" title="web.archive.org/web/20070716065740weblink">weblink dead, Home - In2mobi, March 19, 2021, July 16, 2007, in2mobi.com.au,
    • TrueLocal.com.auWEB,weblink Local Business Directory Australia, truelocal.com.au,
    • Moshtix.com.auWEB,weblink Moshtix – Live Entertainment Tickets, moshtix.com.au, – a ticket retailer
    • Learning SeatWEB,weblink Online Compliance Training – Learning Seat, learningseat.com.au,
    • WegoWEB,weblink Cheap Flights, Hotels and Travel Deals, wego.com, News owns minority stake in Wego.com
    • WeairWEB,weblink Cheap Flights booking – Wego.com, weair.com, February 16, 2016, April 18, 2021,weblink dead, News owns minority stake in weair.com
    • Netus (75%) – investment co. in online properties.
  • Move, Inc (80%)
    • realtor.com – United States online real estate portal
    • move.com
    • listhub.com
    • Doorsteps
    • Tigerlead
    • Moving.com
    • Top Producer
    • Reesio
    • Relocation.com
    • SeniorHousingNet.com
  • REA Group (60.7%)
    • Realestate.com.au
    • Business Services s.r.l.WEB,weblink Compravendita immobili e terreni – Annunci commerciali, businesservices.com, Access our internationalization service opens to endless proposals and possibilities of rooting in markets around the world.
    • Casa.itWEB,weblink Case e appartamenti in vendita – Annunci immobiliari, casa.it, (69.4%), Sky Italia also holds a 30.6% share
    • atHome group, operator of leading realestate websites in Luxembourg, France, Belgium and Germany.
      • Altowin (51%), provider of office management tools for realestate agents in Belgium.
    • Propertyfinders.comWEB,weblink Zoopla – Search Property to Buy, Rent, House Prices, Estate Agents, propertyfinders.com, (50%), News International holds the remaining 50%
      • Sherlock Publications, owner of hotproperty.co.uk portal and magazine titles 'Hot Property', 'Renting' and 'Overseas'
      • ukpropertyshop.co.uk, most comprehensive UK estate agent directory.
    • PropertyLook, property websites in Australia and New Zealand.
    • HomeSite.com.auWEB,weblink Home Renovation Ideas & Tips for Renovating a House, www.realestate.com.au, home renovation and improvement website.
    • Square Foot Limited, Hong Kong's largest English Language property magazine and website
      • Primedia – Holding co. of Inside DB, a Hong Kong lifestyle magazine.
  • TadpoleNet MediaWEB,weblink tadpolenet.com, dead,weblink" title="web.archive.org/web/20070801044627weblink">weblink August 1, 2007, (10%) Hosts of ArmySailor.comWEB,weblink LibertyWhip – Those who deny freedom to others, deserve it not for themselves,
  • New Zealand
    • Fatso – leading online DVD subscription service (ownership through stake in Sky Network Television).
    • Fox Networks – one of the largest international ad networks.
    • Expedient InfoMediaWEB,weblink Expedient InfoMedia, expedientinfomedia.com, blog network.
  • StoryfulNEWS,weblink News Corp Makes Social-Media Push, The Wall Street Journal, December 20, 2013, December 21, 2013,
  • UnrulyNEWS,weblink News Corp to Buy Video Platform Unruly for $90 Million, The Wall Street Journal, September 16, 2015, September 16, 2015,
  • The News Broadcasting Corporation
    • TNBCLive.com - United States's popular news website in 2017 and as of April 2022

Other assets

Books

  • HarperCollins book publishing companyWEB,weblink Company Profile HarperCollins Publishers Global, Archipelago, World, corporate.harpercollins.com, en, May 4, 2017, August 21, 2016,weblink" title="web.archive.org/web/20160821004358weblink">weblink dead,
    • HarperCollins India
  • Zondervan Christian book publisher
    • Inspirio – religious gift production.

Newspapers

The Sun on Sunday The Brooklyn Paper Bronx Times-Reporter Brooklyn Courier-Life TimesLedger Newspapers The Wall Street JournalWall Street Journal EuropeWall Street Journal AsiaBarron's – weekly financial markets magazine.Marketwatch – Financial news and information website.Far Eastern Economic Review
      • Enterprise Media Group
Dow Jones Newswires – global, real-time news and information provider.Factiva – provides business news and information together with content delivery tools and services.Dow Jones Indexes – stock market indexes and indicators, including the Dow Jones Industrial Average.Dow Jones Financial Information Services – produces databases, electronic media, newsletters, conferences, directories, and other information services on specialised markets and industry sectors.Betten Financial News – leading Dutch language financial and economic news service.
      • Local Media Group
Ottaway Community Newspapers – 8 daily and 15 weekly regional newspapers.
      • STOXX (33%)- joint venture with Deutsche Boerse and SWG Group for the development and distribution of Dow Jones STOXX indices.
      • (33%) – Russia's leading financial newspaper (joint venture with Financial Times and Independent Media).
      • SmartMoney
    • The Timesledger Newspapers of Queens, New York:
      • Bayside Times, Whitestone Times, Flushing Times, Little Neck Ledger, Jamaica Times, Astoria Times, Forest Hills Ledger
    • The Courier-Life Newspapers in Brooklyn
    • The Brooklyn Paper
    • Caribbean Life
    • Flatbush Jewish Journal

Magazines

  • U.S.
  • Australia
    • Alpha Magazine
    • Australian Country Style
    • Australian Golf Digest
    • Australian Good Taste
    • Big League
    • BCME
    • Delicious
    • Donna Hay
    • Fast Fours
    • GQ (Australia)
    • Gardening Australia
    • InsideOut (Aust)
    • Lifestyle Pools
    • Live to Ride
    • Notebook
    • Overlander 4WD
    • Modern Boating
    • Modern Fishing
    • Parents
    • Pure Health
    • Super Food Ideas
    • Truck Australia
    • Truckin' Life
    • twowheels
    • twowheels scooter
    • Vogue (Australia)
    • Vogue Entertaining & Travel
    • Vogue Living
  • UK
    • Inside Out magazine

See also

References

{{reflist}}

External links

{{commons category|News Corporation}} {{Navboxes|list1={{News Corporation}}{{Fox Corporation}}{{20th Century Studios}}{{2011 News Corporation scandal}}}}{{Authority control}}

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