The News Corporation Essay

9481 words - 38 pages

SUMMARY'The news corporation'At 30 June 2000 TNC was the third largest media business in the world, after Time Warner and Disney. TNC was the leader in the business because of its global reach, its sweeping ambition and the extend to which it was the creation of one man.Early years and growth to 1980.The origin of TNC was the establishment of a local newspaper in 1923. In 1980 TNC was the only national newspaper of Australia; furthermore they had two national magazines and over twenty provincial newspapers. The Murdoch family had nearly 45 per cent interest in the company. The rest of the interest was acquired in book publishing, television broadcasting, film making, record production, farming and transport interests.The profitability of this Australian base was the springboard to multinational status.In 1968 TNC purchased the important UK-based News of the World Organisation. In 1981 the acquisition of Times Newspapers Ltd. took place. From 1973 TNC also operated in the United States with the purchase of the Express publishing Company. In 1970 expansion here occurred in the areas of local newspaper publishing and in magazine publishing.Television and film making.In 1980 TNC accelerate its real growth and development. However, 1984 saw the beginnings of a US based major geographical and product shift, which aimed to transform TNC into a vertically integrated global media group that had a place in all parts of the media industry.After some acquisitions TNC became restructured into three principal operating groups:* Fox Television Stations (1986) owned and operated six independent television stations.* (FBC) Fox Broadcasting Company (1986), distributed programming by satellite to independent affiliated television stations.* Twentieth Century Fox Film, financed, produced and distributed television programmes and motion pictures throughout the world to cinemas, television broadcasters and on video.Implications for TNC where that revenues and operating profits increased but so too did debt levels.Rupert Murdoch - The wizard of Oz.TNC is an organisation that is keenly linked to its chief executive. In the late 1980's the headquarters of TNC employed barely 60 people. The management structure of TNC was very informal with no defined responsibilities. At the same time the management style was supplemented by an extremely efficient reporting system. They had a weekly document named the 'Flash' for which each operating unit a summary of its operating results provided.Maintaining control was also achieved by detailed telephone briefings and unannounced visits to check in person the details of a business's activities and management. Furthermore R. Murdoch looked outside of the business to the regulatory environment that might constrain his activities. Many commentators have also suggested that his political friendship have bought him influence in this area. Today, R. Murdoch and family control 30 per cent of TNC, but for practical purposes Murdoch is the...

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