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News Corp was established in 1980 by Rupert Murdoch as a holding company for News Limited.News Limited was founded in 1923 in Adelaide by James Edward Davidson, funded by the Collins House mining empire for the purpose of publishing anti-union propaganda; [9] [10] subsequently the controlling interest was bought by the Herald & Weekly Times.
On June 28, 2012, Rupert Murdoch announced that News Corporation's publishing operations would be spun off to form a new, publicly traded company. [8] [9] Murdoch stated that performing this split would "unlock the true value of both companies and their distinct assets, enabling investors to benefit from the separate strategic opportunities resulting from more focused management of each division".
By 2000, Murdoch's News Corporation owned more than 800 companies in more than 50 countries, with a net worth of more than $5 billion. [7] In July 2011, Murdoch faced allegations that his companies, including the News of the World, owned by News Corporation, had been regularly hacking the phones of celebrities, royalty, and public citizens.
Rupert Murdoch, chairman of News Corp., listens as President Obama, not pictured, speaks at the Wall Street Journal CEO Council annual meeting at the Four Seasons Hotel in Washington, D.C., in 2013.
Rupert Murdoch – the world’s most powerful and divisive media tycoon – is stepping down as chairman of Fox Corporation and News Corp, after almost 70 years at the helm of his sprawling ...
Murdoch's other big media property, Fox News, is held separately by Fox Corp, since the publishing and broadcast assets were split into separate companies in 2013.
Dow Jones Newswires – global, real-time news and information provider. Factiva – provides business news and information together with content delivery tools and services. Dow Jones Indexes – stock market indexes and indicators, including the Dow Jones Industrial Average. (10% ownership)
Lachlan Murdoch, the eldest son of media titan Rupert Murdoch, was named the sole chairman of News Corp and will continue as the chair and chief executive of Fox Corp, the companies said on ...