Rupert Murdoch, born 11 March 1931, is an Australian-born American media mogul. He is the founder, chairman and CEO of News Corp, the world’s second largest media conglomerate, which housed renowned media outlets such as Fox, The Wall Street Journal, and The Sun. Rupert Murdoch is often lauded as the “king of media”, responsible for revolutionizing the news industry and expanding the breadth of news media across the globe.
Early life and Education
Rupert Murdoch was born in Melbourne, Australia, to parent’s Elisabeth and Keith Murdoch. The youngest of four children, he studied at Trinity Grammar, and then went onto Oxford in England. He received a degree in History and Philosophy.
Early Business Ventures
It was with his father at his father’s Adelaide News that Murdoch first cut his teeth in the media business. Keith Murdoch was an influential figure in the newspaper industry, and Rupert sought to replicated his success. In 1952, Murdoch inherited $1.8 million from his father’s estate, allowing him to start his own newspaper, Australia’s News Limited. He would later use his profits to purchase a larger international newspaper The News of the World.
Buying News Ltd
News Ltd was Rupert Murdoch’s first acquisition. This purchase allowed Murdoch to gain control of his late father’s papers, and would serve as one of the foundations of his business empire. With News Ltd, Murdoch was able to tap into the lucrative newspaper market in Australia, eventually gaining control of The Times, The Sunday Times as well as The Sun.
Acquiring Twentieth Century Fox
It was in the mid-1970’s that Murdoch began expanding his media empire beyond newspapers and magazines. In 1975, Murdoch bought TV stations in Australia and the U.S., then he bought Twentieth Century Fox studio, a Hollywood movie studio and the World Dailies chain of newspapers.
Establishing News Corp
Murdoch worked to expand his ever-growing empire, buying media outlets across the globe and establishing News Corp in 1980. Over the course of two decades, Murdoch would continue to strengthen News Corp’s global presence, allowing it to become one of the foremost media conglomerates in the world.
The News International Phone Hacking Scandal
In 2011, the News of the World, was caught up in the Phone Hacking Scandal in the UK, leading to its closure. The accusations were leveled against News International and its owner Rupert Murdoch. The allegations of phone hacking and improper payments to public officials rocked the media world, shaking Murdoch’s reputation and reputation of his empire.
Current Media Interests
Today, Murdoch continues to lead News Corp’s ambition for global expansion. The conglomerate currently owns Fox News, Fox Sports, The Wall Street Journal, The Sunday Times, The Times, HarperCollins and the New York Post. It is speculated that Murdoch’s sons, James and Lachlan Murdoch, will eventually take over News Corp from their father.
Philanthropy
Murdoch is a renowned philanthropist, donating time and money to a variety of causes. He is a patron of the British Museum and an active participant in St. Jude’s Children’s Research Hospital, as well as several charitable causes that focus on reducing crime and empowering wider access to education.
Influence of Rupert Murdoch
Rupert Murdoch’s influence on the media industry is unparalleled. He has helped shape the news industry and brought news to billions of people across the globe. His ability to acquire and nurture media outlets has been a testament to his business acumen, and he remains one of the most powerful media moguls on the planet.
Rupert Murdoch has been a revolutionary figure in the media industry. His business acumen and success in expanding News Corp has made him one of the world’s most influential figures. As he ages, Murdoch’s impact on the industry will only grow, as his sons James and Lachlan look to be the ones to take over News Corp from their father.
