News Corporation
Webpages concerning "News Corporation"
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Wikipedia-Article "News Corporation"
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| Type | Public (NYSE: NWS) |
|---|---|
| Founded | Adelaide, Australia (1979) |
| Location | Incorporated in Wilmington, Delaware, headquartered in New York City |
| Key people | Rupert Murdoch, CEO Peter Chernin, COO David DeVoe, CFO |
| Industry | Mass media |
| Slogan | {{{company_slogan}}} |
| Products | Film and television production, television networks, satellite television, newspapers and magazines, book publishing, sports, websites |
| Revenue |  USD $23.859 billion (Y.E. 30 June 2005) |
| Operating income | {{{operating_income}}} |
| Net income | {{{net_income}}} |
| Employees | 38,000 (2004) |
| Website | www.newscorp.com |
| {{{footnotes}}} | |
News Corporation (abbreviated to News Corp) NYSE: NWS is one of the world's largest media conglomerates. Its chief executive officer is Rupert Murdoch, one of the most influential and controversial media tycoons in the world.
News Corporation is a public company listed on the New York Stock Exchange and as a secondary listing on the London Stock Exchange LSE: NCRA. Formerly incorporated in Adelaide, Australia, the company was re-incorporated in the US state of Delaware after a majority of shareholders approved the move on November 12, 2004. The company is still listed on the Australian Stock Exchange.
News Corporation's US headquarters is on Sixth Avenue (Avenue of the Americas) in New York City, in the 1960s-1970s portion of the Rockefeller Center complex.
Revenue for the year ended 30 June 2005 was $23.859 billion. This does not include News Corporation's share of the revenue of businesses in which it owns a minority stake, which include two of its most important assets, DirecTV and BSkyB. Almost 70% of the company's sales come from its US businesses.
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History
See News International, News Limited and Rupert Murdoch for more history.
News Corporation was created in 1979 by Rupert Murdoch as a holding company for News Limited. News Limited was created by Murdoch from the assets he inherited in 1952 following the death of his father, Keith Murdoch, and subsequent expansion. The main asset left to him was ownership of the Adelaide News.
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 maintained a highly restrictive grip. This led to a confrontation with the printing unions NGA and SOGAT. 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 and other media companies soon followed Murdoch's lead. (see Wapping dispute)
Moving into the United States
Murdoch had made his first acquisition in the United States in 1973, when he purchased the San Antonio News. Soon afterwards he founded the National Star, a supermarket tabloid, and in 1976 he purchased the New York Post. On September 4, 1985, Murdoch became a naturalized citizen to satisfy the legal requirement that only United States citizens could own American television stations. In 1987 he bought The Herald and Weekly Times Ltd in Australia, the company that his father had once managed. By 1991, his Australian-based News Corp. had amassed huge debts, which forced Murdoch to sell many of the American magazine interests he had acquired in the mid-1980s. Much of this debt came from his British-based Sky Television satellite network, which incurred massive losses in its early years of operation, which (like many of his business interests) was heavily subsidized with profits from his other holdings until he was able to force rival satellite operator British Satellite Broadcasting to accept a merger on his terms in 1990. (The merged company, BSkyB has dominated the British pay-TV market since).
In 1995, News Corp's 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. In the same year News Corp announced a deal with MCI Communications to develop a major news website as well as funding a right-wing magazine, The Weekly Standard. In the same year, News Corp launched the Foxtel pay television network in Australia in a partnership with Telstra.
In 1996, Fox established the Fox News Channel, a 24-hour cable news station. Since its launch it has consistently eroded CNN's market share, and it now bills itself as "the most-watched cable news channel." This is due in part to recent ratings studies, released in the fourth quarter of 2004, showing that the network had nine of the top ten programs in the "Cable News" category.
In 1999, News Corp significantly expanded his music holdings in Australia by acquiring the controlling share in a leading Australian independent label, Michael Gudinski's Mushroom Records; he merged the two as Festival Mushroom Records (FMR). Both Festival and FMR were managed by Murdoch's son James Murdoch for several years.
In late 2003, News Corp acquired a 34 percent stake in Hughes Electronics, operator of the largest American satellite TV system, DirecTV, from General Motors for $6 billion (USD).
Shareholders
As of August 2005 the Murdoch family owns about 29% of the company. Nearly all of these shares are voting shares, and Rupert Murdoch retains effective control of the company. Nonetheless John Malone of Liberty Media has built up a larger stake of 32%, but only around half of these shares are voting shares. However, Rupert Murdoch is reported to be concerned that he may lose control of the business, and to have prepared a poison pill defence.
Source.
Corporate governance
Current members of the board of directors of News Corporation are: Peter Barnes, Chase Carey, Peter Chernin, Kenneth Cowley, David DeVoe, Viet Dinh, Rod Eddington, Andrew Knight, Lachlan Murdoch, Rupert Murdoch (chairman), Thomas Perkins, Stanley Shuman, Arthur Siskind, and John Thornton.
Holdings
Books
- HarperCollins book publishing company
- ReganBooks
- Zondervan Christian book Publisher.
Newspapers
- Australia
- The Australian (Nationwide)
- The Weekend Australian (Nationwide)
- The Courier-Mail (Queensland)
- The Sunday Mail (Queensland)
- The Cairns Post (Cairns, Queensland)
- The Gold Coast Bulletin (Gold Coast, Queensland)
- The Townsville Bulletin (Townsville, Queensland)
- The Daily Telegraph (New South Wales)
- The Sunday Telegraph (New South Wales)
- The Herald Sun (Victoria)
- The Sunday Herald Sun (Victoria)
- The Weekly Times (Victoria)
- MX (Melbourne and Sydney CBD)
- The Geelong Advertiser (Geelong, Victoria)
- The Advertiser (South Australia)
- The Sunday Mail (South Australia)
- The Sunday Times (Western Australia)
- The Mercury (Tasmania)
- The Sunday Tasmanian (Tasmania)
- Northern Territory News (Northern Territory)
- The Sunday Territorian (Northern Territory)
- Fiji
- Fiji Times (National)
- Papua New Guinea
- Papua New Guinea Post-Courier (National)
- UK newspapers, published by News International Ltd.
- News Group Newspapers Ltd.
- the tabloid The Sun
- the tabloid News of the World
- Times Newspapers Ltd.
- the broadsheet The Sunday Times
- the 'ex-broadsheet' (Now in compact form) The Times
- the broadsheet The Times Educational Supplement
- the broadsheet The Times Literary Supplement
- News Group Newspapers Ltd.
- US newspapers and magazines
- the tabloid New York Post
Magazines
- InsideOut
- SmartSource
- TV Guide, via partial ownership of Gemstar-TV Guide
- The Weekly Standard (Washington, D.C.)
Music
Sports
- 50% of National Rugby League (Australia and New Zealand)
- majority ownership of the Brisbane Broncos, Melbourne Storm and North Queensland Cowboys rugby league teams.
- 20% each of the New York Knicks and the New York Rangers
- 40% of Staples Center
- 9.8% of the Los Angeles Lakers
Studios
- 20th Century Fox film production company
- Fox Searchlight
- Fox Television Studios
- Fox Studios Australia, Sydney, New South Wales
- Fox Studios Baja, Rosarito, Baja California
TV
Broadcast
- Fox Broadcasting Company a US-wide broadcast television network
- Fox Television Stations Group
Satellite television
- BSkyB, United Kingdom (36.8% holding).
- DirecTV Group, North and South America (33.9% holding)
- DirecTV, the largest U.S. satellite TV provider
- DirectTV Latin America
- Hughes Network Systems
- DirecWay, satellite Internet service provider
- Foxtel, Australia (25% holding)
- Sky Italia, Italian satellite TV service
- Star TV, an Asian satellite TV service
- Sky Latin America Brazil and Mexico counterpart to DirecTV Latin America
Cable
- Fox College Sports, College Sports Network that consisits of 3 regionally aligned channels
- Fox Movie Channel, an all-movie channel that airs commercial-free movies from 20th Century Fox film library
- Fox News Channel, a 24-hour news channel
- Fox Reality, a 'Reality TV'-themed channel
- Fox Sports Net, a chain of US regional cable television networks broadcasting local sporting events linked together by national sports news programming. Local channels include "Fox Sports Southwest", "Fox Sports Bay Area", etc.
- Fox Soccer Channel, a United States digital cable network specializing mainly in soccer.
- Fox Sports en Español, a Spanish-language North American cable sports network; its sports lineup is tailored to appeal to a Latin American audience.
- Fox Sports en Latinoamérica, a Mexico-based Latin American satellite and cable sports network.
- Foxtel (25%), Australia's largest satellite and cable pay TV provider, a joint venture with Telstra and Publishing and Broadcasting Limited
- FX Networks, a cable network broadcasting reruns of programming previously shown on other channels, but recently creating its own programming, including the Emmy Award-winning program The Shield.
- National Geographic Channel
- SPEED Channel
Internet
- MySpace - Social networking website
- IGN Entertainment - Internet entertainment portal
- News.com.au - Australian-oriented news website
- Grab.com - Entertainment/Games. Previously owned by Intermix.
Other assets
- (NDS) - Conditional access technology and personal digital video recorders (PVRs)
External links
- News Corporation official site
- Ketupa - News Corporation profile with history and holdings