Who Owns News Corp and Why It Matters to Global Media?

News Corp, one of the largest media conglomerates in the world, is owned by Rupert Murdoch, an Australian-American media mogul who has had a profound influence on journalism, entertainment, and the political landscape globally. The corporation was formed in 1980 and has since evolved into a major force in print, broadcast, and digital media across several countries, including the United States, the United Kingdom, and Australia.

Murdoch’s ownership of News Corp comes through a series of holding companies and trusts, but at the core is his family’s control. The Murdoch family owns a significant portion of the voting shares in the company, allowing them to maintain a tight grip over the board and corporate strategy. This setup has allowed Rupert Murdoch and his successors—most notably his son Lachlan Murdoch—to steer the company in a direction aligned with their personal and political beliefs.

The Power of Media Influence

News Corp's holdings include some of the most recognizable names in media: The Wall Street Journal, The Times (UK), The Sun, and The Australian, to name a few. In the U.S., Murdoch also controls the New York Post and has a substantial influence over Fox News, though the latter falls under the umbrella of Fox Corporation, which was separated from News Corp in 2013. The combination of these assets gives Murdoch and his company the ability to sway public opinion, influence political outcomes, and set cultural agendas.

Murdoch has long been a controversial figure in global media, with many critics arguing that his control over such a wide swath of the media landscape presents a conflict of interest. By owning newspapers, television networks, and digital platforms that cater to different audiences, Murdoch can promote certain viewpoints while downplaying or ignoring others, often leading to accusations of bias.

The Business Behind News Corp

News Corp's revenue comes primarily from three areas: advertising, subscriptions, and other media services. The advertising model relies on the vast audiences of News Corp's various media outlets, particularly those in print and digital journalism. Subscriptions to premium services, such as digital versions of newspapers or exclusive content behind paywalls, have become increasingly important as print media struggles to stay profitable.

News Corp has also diversified its revenue streams by investing in real estate, book publishing, and cable television. HarperCollins, one of the largest book publishers in the world, is part of News Corp’s portfolio, bringing in billions of dollars annually. Additionally, News Corp has made significant investments in real estate, particularly in Australia and the United States.

Political Clout and Controversies

Perhaps the most debated aspect of News Corp’s ownership is the political influence wielded by the company. Murdoch’s newspapers and television channels have often been seen as supporting right-wing, conservative views, particularly in the U.S. and the U.K. Fox News, for example, is one of the most-watched cable news networks in America and has long been a bastion of conservative commentary.

This political alignment has often landed News Corp in hot water. The company was implicated in the News of the World phone hacking scandal in 2011, which led to the closure of one of its most famous UK tabloids. The scandal, involving illegal phone tapping to gain information for sensational news stories, shook the British establishment and led to greater scrutiny of Murdoch’s empire.

Despite these controversies, Rupert Murdoch has remained a dominant figure in global media, with his influence extending beyond traditional news outlets to entertainment and even social media through strategic partnerships.

Succession and the Future of News Corp

As Murdoch ages—he is now in his 90s—the question of succession has become more pressing. His son Lachlan Murdoch has increasingly taken on leadership roles within the company, and it seems likely that he will eventually take over full control of the media empire. However, there has been speculation about internal family disputes and the direction the company may take in a post-Rupert era.

The future of News Corp is uncertain. With the rise of digital media and the decline of traditional print newspapers, the company has had to adapt to a changing landscape. News Corp has made significant investments in digital media platforms and is exploring new ways to engage audiences, such as through podcasts, video content, and mobile news applications.

Why Ownership Matters

The ownership of News Corp is significant because media companies shape how information is disseminated to the public. When one person or family controls a large portion of the media, they have the ability to filter news, shape narratives, and influence cultural and political debates. In the case of News Corp, this control rests with the Murdoch family, whose business interests often align with their political views.

This concentrated media power can be both a strength and a danger. On one hand, it allows for editorial consistency across platforms, ensuring a unified message. On the other hand, it can result in a lack of diversity in viewpoints, which can undermine democratic discourse. In the digital age, where information spreads quickly and has the power to influence elections, corporate ownership of media companies is more important than ever.

Global Reach and Cultural Impact

News Corp’s global reach cannot be overstated. In the UK, its ownership of The Sun and The Times makes it a significant player in shaping public opinion. In Australia, The Australian and several regional newspapers hold sway over the political and social discourse. In the U.S., The Wall Street Journal remains one of the most influential business newspapers, and its editorial pages frequently reflect the conservative stance that aligns with Murdoch’s worldview.

Despite the changing media landscape, News Corp continues to adapt. With investments in streaming services, new digital products, and a shift toward subscription-based models, the company is poised to remain a central player in global media for years to come.

Conclusion: The Legacy of News Corp

Rupert Murdoch’s influence on global media is undeniable, and through News Corp, his legacy will likely continue long after he steps down. His media empire has shaped political landscapes, influenced elections, and changed the way news is consumed. While his ownership of News Corp has been controversial, particularly due to concerns about media concentration and bias, it has also been incredibly successful from a business perspective.

As the company moves forward, it will face challenges from digital competitors, regulatory pressures, and changing consumer habits. However, with its vast resources, loyal audiences, and strategic investments in new media, News Corp remains one of the most powerful forces in global journalism and entertainment.