"News Corporation, is the world's third-largest media conglomerate (behind The Walt Disney Company and the Time Warner Company) as of 2008, and the world's third largest in entertainment as of 2009. The company's Chairman, Chief Executive Officer and Founder is Rupert Murdoch"
Rupert Murdoch inhertied the australian 'News Limited' company in 1953 after his father Sir Keith Murdoch passed away. Twenty six years later in 1979, Murdoch created News Corporation as a holding company (company with controlling shares in other companies) for News Limited.
In 1981 News Corp bought half of the movie studio 20th Century Fox, buying the other half in 1984. In 1985 News Corp announced it was buying the 'Metromedia group of stations' setting the stage for the launch of a fourth U.S. broadcast network. On September 4, 1985, Murdoch became a naturalized citizen to satisfy the legal requirement that only United States citizens could own American television stations. In 1986, the Metromedia deal closed, and the Fox Broadcasting Company was launched. This network, known on-screen as "Fox", can now be picked up in over 96% of U.S. households. "
Rupert Murdoch is the oligarch of his media corporations and his trans atlantic ownership in the media industry accounts for three quarters of the world.
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