Who Owns News Corp Australia? The Power Behind One of the World’s Largest Media Companies
Before we dive into the specifics, let’s start with what’s happening today. News Corp Australia’s reach is massive. It controls some of the largest newspapers in the country, including The Australian, The Daily Telegraph, and Herald Sun. But the most surprising part? This Australian media dominance is orchestrated from abroad, with its head office in the U.S. and a web of subsidiaries worldwide. If you’ve ever wondered who influences the headlines you read daily, look no further than Rupert Murdoch.
Murdoch’s story begins in the 1950s when he inherited a small Australian newspaper from his father. Over the next several decades, Murdoch would build this into a vast empire, eventually splitting his empire into two parts: 21st Century Fox (focused on entertainment) and News Corporation (focused on media and publishing). News Corp Australia falls under this latter group, controlled by the Murdoch family via a complex web of ownership. So, while you may be reading the work of an Australian journalist, the overarching control rests in the hands of one of the world’s most powerful families.
But let’s go deeper. News Corp Australia is 100% owned by News Corporation, a U.S.-based company. News Corporation, in turn, is primarily controlled by Rupert Murdoch, whose family holds a majority of the voting shares. This gives Murdoch and his heirs enormous power over what Australians read, watch, and hear.
News Corp Australia’s Major Holdings
To truly grasp the extent of Murdoch's influence, we must look at News Corp Australia’s media properties:
- The Australian – the nation’s leading national newspaper, often regarded as conservative in its reporting.
- The Daily Telegraph – one of the most influential tabloids in Sydney, also known for its conservative lean.
- The Herald Sun – a Melbourne-based tabloid, popular among working-class readers.
- Courier-Mail, The Advertiser, and The Mercury – regional papers with significant local influence.
- Foxtel – Australia’s premier subscription TV service, partially owned by News Corp, providing another avenue for Murdoch’s reach into homes.
The dominance extends beyond newspapers and television, reaching into online media, with News Corp owning news.com.au, Australia’s most popular news website. The company's vast array of publications shapes public opinion, political discourse, and even election outcomes in Australia.
The Global Power Play
Now, let’s zoom out. The Murdoch family’s empire doesn’t stop at the Australian border. Globally, News Corporation holds stakes in some of the world’s most influential media outlets, including the Wall Street Journal, New York Post, The Times (UK), and The Sun (UK). Murdoch’s influence over international media is unmatched, giving him a hand in shaping narratives in multiple countries. This international reach provides a platform for Murdoch to push agendas that align with his political beliefs, further cementing his influence.
Rupert Murdoch, now in his 90s, has passed much of the day-to-day control of News Corporation to his son, Lachlan Murdoch, but the family still holds tight control. Lachlan, who chairs the board, continues to drive the company forward while ensuring that the family's vision remains central to its operations.
The Murdoch family’s ownership structure is complex and deliberately crafted to keep control within their grasp. Here’s how it works:
- Class A and Class B shares: News Corp’s stock is divided into two categories. Class A shares are non-voting, while Class B shares come with voting rights. While many investors own Class A shares, the Murdochs hold a significant portion of the Class B shares, ensuring their control over the company’s future.
This structure allows the Murdoch family to maintain control despite owning less than half of the company’s total stock. This means that even if other investors want to influence the company’s direction, the Murdoch family has the final say.
A Look at News Corp's Financial Power
To understand the depth of News Corp Australia’s dominance, let’s look at some numbers:
| Year | Revenue (in billion USD) | Operating Income (in million USD) |
|---|---|---|
| 2022 | $10.39 | $1.27 |
| 2021 | $9.36 | $1.09 |
| 2020 | $9.01 | $972 |
As the table shows, News Corp Australia is a cash-generating machine, funneling profits back into its parent company. Despite the global decline in print media, News Corp’s Australian assets remain strong, in part due to its dominance in key markets and its ability to adapt to the digital age.
Criticism and Controversy
With great power comes great scrutiny. Over the years, News Corp Australia has faced significant criticism. Many accuse the company of bias, particularly in its political coverage, and some even claim it has too much control over the nation’s media landscape. During the 2019 Australian bushfires, News Corp was widely criticized for downplaying the severity of the fires and promoting climate change skepticism. This led to accusations that News Corp was using its platform to influence public opinion on environmental issues, aligning with Rupert Murdoch’s conservative political views.
Political figures, too, have had their share of confrontations with Murdoch’s empire. Former Australian Prime Minister Kevin Rudd launched a petition in 2020 calling for a Royal Commission into the dominance of News Corp Australia, gathering over 500,000 signatures. Rudd argued that News Corp’s control of the media landscape posed a threat to Australian democracy by stifling diverse viewpoints.
Yet, despite the criticism, News Corp Australia remains unshaken. Its business model, focused on monetizing content through subscription services and digital advertising, continues to thrive.
The Future of News Corp Australia
As Rupert Murdoch approaches the end of his career, all eyes are on the next generation of Murdochs. Lachlan Murdoch has already taken the reins, but the future of the company remains uncertain. Will it continue to hold its conservative line, or will it shift direction under new leadership? Only time will tell, but one thing is clear: the Murdoch family’s influence on global media isn’t going away anytime soon.
News Corp Australia is not just a collection of media outlets. It’s a powerful force in shaping public opinion, and with the Murdoch family at its helm, it will likely continue to play a dominant role in the country's media landscape for years to come.
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