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News Corp Limited News Corp is a highly diversified global corporation that engages in the production and distribution of audiovisual products in Australia, the United States, Europe, and Asia. News Corp has interests in motion pictures, television programming, satellite and cable broadcasting systems, the publication of newspapers, magazines, and books, and the production of online programming. The major properties of News Corp in the United States are Twentieth Century Fox Movie Studios, Fox Television Network, Fox All-News Network, and various book publishers. Many American movie and television productions appear in Australian theaters or on commercial television channels as part of News Corp’s global marketing strategy.
News Corp makes about 25 percent of its profits from global businesses, with fully 75 percent of that coming from its U.S. investments. News Corp global revenues are about $15 billion (U.S.) annually.
A major News Corp property is Fox Studio Australia. Fox Studio is a multi-use facility and movie studio. Located on a 60-acre site, it includes entertainment, shopping, and dining and sponsors a number of events. It is the only Twentieth Century Fox studio outside the United States, and has offered complete services for major international films such as Moulin Rouge , Star Wars Episode 2, Babe 2 , and The Matrix .
News Corp owns several newspapers across Australia in both large and small markets. It also operates Fox Sports Australia. In addition, News Corp owns 25 percent of FOXTEL, a pay television service offering a number of movie, sports and news channels. FOXTEL began operation in 1995 and is available via cable or satellite to more than 70 percent of Australians.
Media magnate Rupert Murdoch and his family hold about 30 percent of the company’s shares. He was born in 1931 in Melbourne to newspaper manager and editor Sir Keith Murdoch. Sir Keith was a working journalist in both England and Australia and ultimately managed a chain of Australian newspapers headquartered in Adelaide, Australia, which later became News Corp’s world headquarters.
Sir Keith died in 1952 and the control of two of his newspapers passed to his young son, Rupert Murdoch. Rupert attended Oxford and had just finished apprenticeships in England at the Birmingham Gazette and Fleet Street’s Daily Express when his father died. The two newspapers in Australia that he inherited were the Adelaide News and a Sunday paper, the Weekly Times . Rupert Murdoch quickly turned the Adelaide News into a financial success and in the late 1950s he expanded the company with the profits. He bought the Perth Sunday Times , started the successful TV Week , and in 1958 he entered the television business.
In the 1960s Murdoch expanded his print properties with the purchase of the Cumberland newspapers as well as the Sydney Daily and the Sunday Mirror . Over time he added more magazines, book publishers, film and record companies in Australia.
During the 1970s Murdoch began buying properties in England, most notably BSkyB satellite system. In the United States he established a major media presence with purchase of Twentieth Century Fox movie studios, Fox Television Network, and other properties. News Corporation was established as a public company in 1979. In 1985, Murdoch became a U.S. citizen in order to meet regulatory requirements for the purchase of Federal Communication Commission controlled licenses for the U.S. television industry. He expanded into Asia with Star TV, a satellite based system that broadcast across many nations, particularly India and China, acquiring 64 percent of it in 1993. In 2002 Star TV posted a profit for the first time. Rupert Murdoch’s youngest son, James Murdoch, and his Chinese-born wife, Wendy Ding, run Star TV jointly. Rupert Murdoch’s daughter Elisabeth served as general manager of BSkyB in the 1990s but has since left the company. She continues to be involved in mass media by running her own production company. The eldest son, Lachlan, is a senior executive at News Corp.
In addition to its broadcast media holdings, News Corp also controls Harper Collins Publisher and also owns Triangle Publications, which publishes TV Guide and global magazines such as Seventeen . Murdoch also has made major investments in the Internet and is attempting to link his diverse print media for Internet traffic and sales. News Corp has been particularly active in developing Web sites for its major properties in Australia and elsewhere. Approximately 50 percent of News Corp’s revenues come from electronic media properties and the balance from print media, with the bulk of the profits for the global corporation currently coming from holdings in the United State