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Transcript of News Corporation-
Expansion and consolidation of News Corporation-
1995- 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.
1996- Fox established the Fox News Channel.
1999- News Corp significantly expanded its music holdings in Australia.
1999- The Economist reported that News Corp paid comparatively lower taxes and found they had made large profits without paying corporate tax. They were normally expetected to pay $350 million in corporate tax.
2003- News Corp acquired a 34% stake in DirecTV Group.
January 2005- announced purchasing Fox Entertainment Group.
July 2005- purchased Myspace for $580 million.
February 2007- Fox launch a new business news channel later in the year, which would compete directly against rival network CNBC. Fox officially launched the Fox Business Channel on October 15, 2007.
In 2009-News Corp established NewsCore.
In 2010- News Corporation sold 90% of their stake in their Fijian newspapers
February 2011- News Corp put Myspace up for sale, which was estimated to be worth $50–200 million.
News Corporation's companies-
News Corporation or News Corp. was an American multinational mass media corporation headquartered in New York City.
It was the world's second-largest media group as of 2011 in terms of revenue following Google, and the world's third largest in entertainment as of 2009, behind Manka Bros Studios and Disney. In 2012, News Corporation recorded revenues in the US of $33.7 billion.
News Corp was created in 1979 by Rupert Murdoch as a holding company for News Limited. News Corp was created from the wealth Rupert Murdoch inherited from his father, Keith . News Limited was founded in 1923 in Adelaide; subsequently the controlling interest was bought by The Herald and Weekly Times. In 1949, Sir Keith Murdoch took control of The Adelaide News. When he died in 1952, his son Rupert inherited a controlling interest in an Adelaide afternoon tabloid, The News.
Murdoch was previously Chairman and CEO of News Corporation prior to the company’s separation into two distinct, publicly traded companies in 2013. He also serves as Chairman and CEO of 21st Century Fox, the broadcast media and entertainment company created by the separation.
In 1954, Murdoch took control of News Limited, an Australian-based public corporation whose only key asset at the time was a majority interest in the number-two daily newspaper in Adelaide, South Australia. Since then Murdoch oversaw the expansion and development of News Corporation into one of the most influential international media business.
Being a multimedia conglomerate, News Corporation owned an
enormous range of businesses and subsidiary companies before its split
on June, 28th 2013.
News Corps holdings including three national newspapers in the UK, almost 150 publications in Australia, the New York Post and Community Newspaper Group in the United States, The Wall Street Journal and related publications in the US, Europe and
Asia and Dow Jones information services.
Businesses include the FOX Broadcasting Company; the 27 stations in the Fox
Television Stations group and various television operations throughout the world.
Cable properties produce and license programming for cable and satellite
platforms in the U.S and Asia, including the FOX News Channel and FOX
Business Network, FX and STAR. News Corporation wholly owns Italy’s
most popular pay-TV company, SKY Italia.
In 1986 and 1987- Moved to adjust the production process of its British newspapers.
By 1992- Debts which forced it to sell many of the American magazine interests it had acquired in the mid-1980s to K-III Communications.
In 1993, News Corporation acquired a 63.6% stake of the Hong Kong-based STAR TV satellite network for over $500 million, followed by the purchase of the remaining 36.4% in July 1995.
13 July 2011- company withdrew its takeover bid for BSkyB News Corporation already owned, and continues to own, 39.1% of BSkyB.
6 June 2012- News Corp announces it will buy out ESPN Inc.'s stake in ESPN Star Sports to gain full control over the Asian sports network.
In January 2013, News Corp. attained 54.5% majority control of Sky Deutschland.
On 4 February 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.
Phone Hacking Scandal
n 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.
Other allegations put out by The Guardian newspaper include the exploitation, with intent to gain access to or use private information.
A list of 4,332 names or partial names was released.
2,987 mobile phone numbers.
30 audio tapes of varying length.
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.
The names are said to include those of British victims of the 11 September 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.
Brief History of the scandal-
On 28 June 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 new News Corporation with Robert James Thomson, editor of The Wall Street Journal, as CEO. The present News Corporation, which retains most of its media properties and Murdoch as CEO, was renamed 21st Century Fox. Murdoch remains chairman for both companies.
Shareholders approved the split on 11 June 2013. On 19 June 2013, preliminary trading for the new News Corp on the Australian Securities Exchange commenced in preparation for the formal split that was finalized in 28 June 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.
company's Board of Directors consists of 16 individuals:
Rupert Murdoch (Chairman of the Board and Chief Executive Officer)
José María Aznar (Former Spanish Prime Minister)
Natalie Bancroft (Director)
James W. Breyer
Chase Carey (President and Chief Operating Officer)
David F. DeVoe (Chief Financial Officer)
Sir Roderick Ian Eddington
Joel I. Klein (Executive Vice President)
James Murdoch (Chairman & Chief Executive Officer, Europe & Asia)
Álvaro Uribe (Former President of Colombia)
Stanley S. Shuman (Director Emeritus)
Arthur M. Siskind (Director Emeritus, Senior Advisor to the Chairman)
Rupert Murdoch (Chairman and CEO)
Chase Carey (President, Chief Operating Officer & Deputy Chairman)
David DeVoe (Chief Financial Officer)
James Murdoch (Deputy Chief Operating Officer; Chairman and CEO, International)
Roger Ailes (Chairman, Fox Television Stations Group)
Daniel Suárez García (Chairman and CEO, Latin America)
Office of the chairman -
Murdoch’s empire’s reputation was critically damaged when news of the hacking of Milly Dowler’s phone became public. An immediate apology and sacking of Rebekah Brooks, former News of the World editor and Chief Executive of News Corporation, would have gone a long way to appeasing the public, many of whom have a short memory and may have forgiven rather sooner. The phone hacking news was a damning indictment of journalistic practices at the NotW. However, rather than instantly apologise and remove Rebekah Brooks, Murdoch simply closed the profitable newspaper – a decision that cast aside 200 potentially innocent journalists and costing £244 million.
The reputational fallout has filled the traditional media for several months, not to mention being a trending topic on Twitter for weeks. The Murdochs have faced the scrutiny of a Select Committee at the House of Commons and the scandal subsequently sunk their bid for the lucrative BSkyB. News Corporation finally appointed PR giant Edelman, but it could be said this was too little, too late – the damage had already been done.
21st Century Fox is an American multinational mass media corporation. It is one of two companies created from the 2013 split of News Corporation (as founded by Rupert Murdoch in 1979); 21st Century Fox retains the previous News Corporation's broadcasting and film assets and serves as its legal successor, while its publishing assets were spun off to form News Corp at the same time. The split was designed to ensure that both companies are operated under more "focused" management, which Murdoch claimed would "unlock" their true value.
Among its holdings are Fox Entertainment Group—owners of the 20th Century Fox film studio and Fox television network among other assets, pan-Asian pay channel operator STAR TV, Italian television provider Sky Italia, and stakes in the television providers BSkyB and
News Corporation (commonly referred to as New News Corp; trading as News Corp) is an American multinational mass media company, formed as a spin-off of the former News Corporation focusing on newspapers and publishing. It is one of two companies which succeeded the former News Corp, alongside 21st Century Fox—which consists of the old News Corporation's broadcasting and media properties, such as Fox Entertainment Group. The spin out was structured so that 21st Century Fox would be the legal successor and continuation of the old News Corporation, with the new News Corp being an entirely new company formed by a stock split.
News Corps subsidiary, News International, is a major
publisher and distributor of newspapers across mainly
Britain but also the world.
The Murdoch Family
Following his fathers death in 1952, Rupert Murdoch took control of a large amount money. Most of which would be used in the founding of his company, News Corporation 27 years later.
Today, Murdoch runs his business with the help of many others, including his two sons, James and Lachlan.
James- Deputy Chief Operating Officer of
News Corp, Chairman of Sky Italia and STAR
TV as well as being the representative of the
shareholders in BSkyB.
Lachlan- Today he is currently the
Non executive Chairman at Network
Ten, Executive Chairman of DMG
Radio Australia and also sits
on the board of News Corp
21st Century Fox Productions
The company's film and TV studios has produced an incredible
range of high grossing broadcasting since the start of the 2000's alone. In 2013 alone, 20th Century Fox released 13 blockbuster films, a large number of which reaching over $130 million in total.
Star Wars I, II and III (1999 - 2006)
Ice Age Franchise (2002 - 2012)
Independence Day (1996)
How I met Your Mother (2005 - present)
The Simpsons (1989 - present)
Family Guy (2001 - present)
American Dad (2005 - present)
Modern Family (2009 - present)
My Name is Earl (2005 - 2009)
Prison Break (2005 - 2009)
In 1985, Rupert Murdoch legally became an American
citizen. The Federal Communications Commission and US
law did not allow foreign businessmen from holding any
majority stakes in a US media company or network. The change
in citizenship allowed him to expand his company into the lucrative area of the USA.
Murdoch oversaw News Corporations vast expansion through the
1980's and 1990's, taking over 20th Century Fox in 1985 as well
as the Wall Street Journal years later in 2007. These two US
companies at the time were doing extremely well and still are
today. The Wall Street Journal today has a larger circulation
than any other American newspaper. Murdoch also
authorised News Corporations purchase in the
BSkyB stock however the company failed to
take over the company in 2011.
List of Publishing Companies owned by News
Daily Telegraph The Daily
Dow Jones The Mercury
Harper Collins Publishers The Sunday Mail
Herald Sun The Sunday Telegraph
Inside Out The Sun
New York Post The Sunday Times
News International The Times
NT News Times Literary Supplement
Post-Courier The Wall Street Journal
Sunday Herald Sun The Wall Street Journal Digital Network
Sunday Mail The Weekly Times
Sunday Times Zondervan
List of Broadcasting Companies owned by
FOX Broadcasting Company National Geographic Wild
FOX Sports National Geographic US
FOX Sports Australia National Geographic Worldwide
FOX Television Stations Speed
Big Ten Network BSkyB
FOX Business Network FOXTEL
FOX News Channel Sky Deutschland
FOX College Sports Sky Italia
FOX Sports Enterprises
FOX Sports Net
FOX Soccer Channel
Fuel TV FX
News Corporation also have considerable shares
in 'future generation' media company Hulu, an online
video joint venture with other Disney and NBC Universal.
News Corporation also own:
American Idol.com NDS
careerone.com.au News Digital Media
CARSguide.com.au News Outdoor
National Rugby League
Who was affected?
It was claimed that the phone hacking scandals victims
numbered over 4,000 people, some of these political and
public figures, celebrities and even victims of violent crimes.
Some of these victims included
JK Rowling Families of killed British
Sienna Miller servicemen in Iraq
Hugh Grant Murder victim Millir Dowler and
Charlotte Church her family
Paul Gascoigne Gerry and Kate McCann, the
Max Clifford parents of the missing girl
Ulrika Johnson Madeleine
Lord John Presscot
Parents of the murder victims -
Holly Wells and Jessica Chapman
News International is a British publisher of multiple
newspapers. Currently, the company of the Sun, the
Sunday Times and the Times. Up until 2011, the company
also published the News of the World. The company has also
gone through several name changes in recent years. In May
2011, the company name changed to NI Group Limited, previously
known as News International Limited. In June 2013, the name
changed again, this time to News UK.
The closure of the News of the World prompted News
International to open a new Sunday newspaper, the Sun on
Sunday. The News of the World created vast revenues and
profits each year and also cost over £200 million to close.
Other Significant Figures
in News Corporation
Les Hinton - throughout his career, Les Hinton has held a
large variety of positions in News Corporation. Most notably,
being the CEO of Dow Jones and company and executivve chairman
of the Wall Street Journal. Hinton was one of Murdoch's most
trusted and liked colleagues. He resigned however, in July 2011 amid the phone hacking scandal.
Chase Carey - Carey is another significant figure to News Corporation.
The Chief Operating Operator and Deputy Chairman of the media
conglomerate began his work in Fox in 1988. Carey also held the
position of CEO of Fox Broadcasting through the 1990's. He is
also a major shareholder in 20th Century Fox, holding over
85,000 in the broadcasting company.
The Spy Catcher Controversy
Spy Catcher was a book published in 1985 written by Peter
Wright, a former MI5 secret service officer. The book raised a
controversial in the mid 80's as the information in the book
contained details about the British secret service's shortcomings
and failings. Publishing companies around the world were keen on publishing the book expecting vast profits, this included companies
within the News Corporation empire. The book broke the official
secrets and as a result was taken to court by the British government. After several months in court, the British government lost its case in 1987, the court claiming that what damage could have been done had
already been done with its publications overbroad. The book was
successful, selling over 400,000 copies by mid 1988 and the
controversy put News Corporations in an awkward situation. The
company were keen on publishing the book that could prove
as a threat to the British government even though the
conglomerate had a strong base in the UK. This
showed a clear conflict of interests in the