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Rupert Murdoch: News Corporation
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The Observer is reporting that Rupert Murdoch may be moving some Wall Street Journal staff out of the financial district and sticking them in midtown in the News Corp building. Of course the people moving to the News Corp building would be on the editorial side so that Rupe can keep a close eye and/or hand on things. If such a move does take place, isn't Rupert just adding fuel to allegations that he moonlights as the Editor in Chief of is newspapers?
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Rupert Murdoch is in Scotland for the unveiling of a high-speed, full-color printing plant for his British newspapers. News Corp. is spending big bucks to upgrade all of its U.K. papers to full color. The investment demonstrates that newspapers are not "a thing of the past."
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A bit of news and a classic quote from a Rupert Murdoch interview with Multichannel News. First off, Murdoch says the Fox Business Channel (as it’s called now) is scheduled to launch mid-next year with a target of 25-30 million homes. They’re building a new studio and control room to accommodate it. Oh, and what if the Democrats win the next two elections? “It’ll be terrific,” Murdoch said. “People will be watching Fox News like crazy.”
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Rupert Murdoch, the Zeus-like leader of Fox News Corporation and the Wall Street Journal and pretty much everything else either written or spoken, caused some billion dollar consternation when in 1993 he implied that the media could--gasp!--actually help build democracy. He said the fax machine and satellite television "proved an unambiguous threat to totalitarian regimes." This made leaders of totalitarian regimes slightly uneasy and seriously miffed. China took it especially poorly. The government banned satellite television for the people. This was, as one might expect, bad business for Fox.
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Rupert Murdoch sketched out his plans for the Fox Business Network on Friday, saying he will spend years nurturing the new channel to win over more than half of the business news audience. The News Corp chairman and chief executive confirmed media reports that his media conglomerate intended to invest $150 million to $200 million over three years in FBN, including about $70 million in fiscal 2008. Aiming to repeat the success of the Fox News Channel, which unseated CNN as the top cable news network four years after its launch, FBN is part of Murdoch's ambitions to build a global financial media powerhouse in print, the Internet and TV.
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The fourth U.S. television network, Fox Broadcasting Company was organized in 1985 when billionaire financier Rupert Murdoch combined Twentieth Century Fox Film Corporation with a handful of television stations and a new distribution company. It is a subsidiary of Fox, Inc., and it is headquartered in Beverly Hills, Calif.
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