A media business magnate the world has ever known - Rupert Murdoch - Prime Insights - Business Magazine

A media business magnate the world has ever known – Rupert Murdoch

Rupert Murdoch

A media business magnate the world has ever known – Rupert Murdoch

  • The media magnate who is the founder and head of News Corporation, a global media conglomerate is Rupert Murdoch. In 1986, he created Fox Broadcasting Company. Murdoch’s father was a newspaper publisher and a renowned war correspondent from whom he inherited the Sunday Mail and the News. Over the years, he continued to purchase other media outlets such as American newspapers during the 1970s.
  • Murdoch was born on 11th March 1931 on a small farm located 30 miles to the south of Melbourne, Australia. His father was a famous American journalist who owned a number of the then local and regional newspapers, namely the Herald in Melbourne, the “Courier-Mail” in Brisbane along with the News and Sunday Mail.
  • From a very young age, Murdoch was both influenced and inspired to enter the vast world of the publishing industry. He graduated from Geelong Grammar, a prestigious Australian boarding school in 1949. He then attended Worcester College at Oxford University in England.
  • After his father’s sudden demise in 1952, Murdoch’s youth came to an end as he was left with the ownership of his father’s Adelaide newspaper, the News and the Sunday Mail. Therefore a young Murdoch shouldered the responsibilities to run his father’s papers just at the age of 22.
  • Murdoch wrote redesigned page layouts, headlines and worked for the typesetting and printing rooms immediately taking over the control of his father’s newspapers. With his skills, the News was transformed into a chronicle of crime, sex and scandal.
  • In just 3 years, Murdoch widened his operations and purchased the Perth-based Sunday Times in 1956. Four years later in 1960, he broke into the demanding Sydney market by purchasing the struggling mirror and changed his face into Sydney’s best-selling afternoon paper. Then again in 1965, being confident of his success and ambitious of his political influence, Murdoch founded Australia’s first national daily paper called the Australian. His new image as a renowned news publisher evolved.
  • When Murdoch was 37 years old, the ownership of Australian news created a value of about $50 million. Soon he moved to London and purchased the hot-selling paper, popularly known as Sunday Tabloid – The News of The World. A year later he purchased the Sun, another struggling tabloid and successfully transformed it using his own formula, reporting heavily on sex, sports and crime. The Sun attracted millions of readers across the world.
  • His next motive was to expand his reach to the United States and hence acquired the Texas-based tabloid in 1973 named San Antonio News. In 1974, he founded a national tabloid, the Star and the New York Post in 1976. 3 years down the line, he finally founded News Corporation, commonly known as News Corp.
  • During these years Murdoch began to expand his media empire into television and entertainment and finally in 1985, he purchased the 20th Century Fox Film Corporation along with multiple independent TV stations and merged them into Fox Inc. Thus, Fox Inc. became a major television American network. In 1990, he founded a Hong Kong-based TV broadcasting company Star TV. In 2005, he purchased Intermix Media, the owner of the popular social networking site, MySpace.com. Currently, his net worth is $16.3 billion.

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