(BUSINESS & MEDIA) 3rd largest media holding company in the world; US holdings include Fox News
, Wall Street Journal
, New York Post
, and Dow Jones
; in the UK, News of the World
, *The Sun*, *The Sunday Times*, & The Times
(London); and a couple dozen papers in Australia, plus Sky Broadcasting
. News Corp also owns HarperCollins
& 20th Century Fox
News Corp is fairly aggressive for a holding company in actually imposing a unified strategy and brand identity on its holdings. It was created by Rupert Murdoch from News, LTD. (a firm created by Murdoch's father, Sir Keith) in 1979, a few years after he went on a media buying spree in the USA. Murdoch became a US citizen so he could legally own US TV stations. The Murdoch family owns 29% of News Corp; Saudi Prince Al-Walid bin Talal owns 7%.
News Corp launched Fox News in 1996 to compete with CNN; shortly before this, News Corp also launched the neoconservative
magazine *The Weekly Standard* with William Kristol as its editor.
News Corp is not as large as Walt Disney
or Time Warner
, but it has been far more successful as a business model than its larger competitors. That's mainly because Murdoch focused on finances and political strategy, whereas the other media conglomerates remain unwieldy, random agglomerations. It's like a battle between a remorseless bulldozer and a large heap of sand.