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Everyone likes a good story and no one can tell one better than the media companies out there. But what’s really interesting is trying to go beneath the surface to find out how some of the major brands in media and entertainment came to be.
Welcome to watchmojo.com, I’m your host Stash Can Carters and today we take a look at the history of News Corporation.
Now, News Corporation was actually set up in 1980 but the origins of the company go back to 1952 when Sir Keith Murdoch, Rupert Murdoch’s father passed away and Rupert Murdoch inherited his father’s newspapers company.
Unlike most of the major media companies, News Corp’s origins held from Australia. In 1973, News Corp had is first American asset when it bought the San Antonio Express News. The San Antonio deal was the first of many to come for Rupert Murdoch. He bought the National Star which was a supermarket tabloid.
Then, in 1976 he purchased the New York Post. Shortly there after, in 1981 he bought 50% of Twentieth Century Fox and he went on to buy the other half by 1984.
The next year, he bought the Metro Media Group of TV stations and by 1986, the company we now know as Fox Broadcasting was born. Form 2005 to 2006 he decided to reposition his company as an internet powerhouse. He acquired MySpace, the popular social networking site by GN and Photobucket.
In short, he spent two billion dollars to create one of the powerful new media companies in the world. While those deals led to the creation of an internet powerhouse, it was nothing compared to he had in store in 2007 when News Corp unleash an unsolicited bid for Dow Jones owner of Barrons and of course Wall Street Journal for five billion dollars but News Corp. has also had it's fair share of set backs. Direct TV is a unit that has led it to lose a lot of money and even successes like MySpace TV about their share of controversy as sexual predators have used the site to lure innocent victims.
But when it's all said and done, News Corp. is arguably the best position media company in the world with assets like Harper Collins, MySpace, as well as Fox which remains one of the strongest networks out there.
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