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Feature Story -

News Corp, the media company built by Rupert Murdoch,
will join the Standard Poor's 500 stock index after the close of trading on Dec. 17, 2004.
------The change is being made as News Corp., which earns roughly 80 percent of its profit in the United States and has corporate headquarters in New York, reincorporates in Delaware and shifts its main stock market listing to the New York Stock Exchange.

Shareholders overwhelmingly approved
the reincorporation last month.
------Built by Murdoch from a single newspaper in Adelaide, Australia, News Corp. now ranks as one of the world's biggest media empires. It owns the Fox Entertainment Group Inc. network, 20th Century Fox film studios, and many newspaper and satellite assets.
------S&P said it will name the company that News Corp. will replace in its flagship stock index roughly three to five business days before News Corp.'s addition. News Corp. will be removed from the S&P/ASX indexes in four equal phases over a nine-month period ending in Sept. 2005, S&P said.
------Changes in the S&P 500 index can cause added volatility or trading volume in shares of companies being added or removed. Many portfolio managers try to track the index and are required to buy or sell stocks that enter or leave it. The same is true for managers who track the S&P/ASX 200 AXJO> index.
///

Center Page / Biography

TIMELINE:

-----1931 - Rupert Murdoch was born in Melbourne, Australia,

-----1953 - After earning his degree at Oxford University, Murdoch remained in England to work as a junior editor for the London Daily Express. The major factor that guided Rupert into the field of Journalism, was a. his father. Sir Keith died, when Rupert was just 22. Sir Keith had been the CEO of Australia's largest newspaper chain. The Murdoch family's inheritance included a remote radio station and the weakest papers of the group, the Adelaide News and Sunday Mail.
------In 1954 Murdoch returned to Australia
and took charge of the Adelaide News, stimulating circulation of many of his newspapers by creating a tabloid mix of sex, crime, and sports stories topped with giant sensationalized headlines. He sold Adelaide News in 1987. (Name changed, in 1992),
-----In 1956, Murdoch started building his media empire with the purchase of a Perth Sunday newspaper in 1956, and in
----- 1960 he entered the Sydney market by acquiring the Sydney Daily and Sunday Mirror. His hard-sell promotions and lurid stories boosted the circulation's of both papers.
------ In 1964 Murdoch founded Australia's first national newspaper, The Australian, which featured national and international news, investigative reporting, local issues and 'Sleaze'. Soon he had expanded his legacy into a nationwide business, encompassing newspapers, magazines and television stations. Even then, he was accused of peddling sleaze. He responded with typical directness, -- "I'm rather sick of snobs who tell us they're bad papers, snobs who only read papers that no-one else wants," he said
----- By 1968 his Australian empire of newspapers, magazines, and broadcasting stations was worth an estimated $50 million. He married his second wife, Anna.
------ In 1973 he made his first U.S. acquisition with the purchase of the San Antonio Express and News.
------This was followed by the founding of The National Star (later shortened to The Star), a supermarket tabloid. Murdoch's next inroad into American journalism was his purchase of the New York Post
------ in 1976, quickly followed by the takeover of a company that published New York Magazine, the Village Voice, and New West.
------ In 1981 Murdoch bought control of the renowned London Times and Sunday Times. Highlights of the early 80s showed the world that sensationalism made headlines. His London papers aimed at the working classes, and the foundering London Daily Sun, a stodgy liberal paper, became king. Murdoch applied his tabloid mix of sex, crime, and sports topped with huge headlines. Circulation soared, and he went on to purchase other British newspapers and broadcasting interests. "But it was the 1980s", said Al Preiss, in his TVInews reports, when "in many people's minds, they defined Murdoch as a Union buster".
------ Leaving Fleet Street for good, in 1984, he relocated his operations to Wapping in London's East End. He refused to recognize unions and sacked 5000 workers to keep the papers in business. "Rupert Murdoch, is a political visionary similar to Barry Goldwater's conservative ideology" says, entertainment attorney, Pat Maginnis. "He was not a curmudgeon, and he treated his employees very well, but he was also a bottom liner who felt government that governs least governs best. Like Goldwater, he was not for pork barrel spending and he abhorred government subsidies and union control of any kind. His work: "Why Not Victory," is a mirror image of the hard driving life story of presidential hopeful and businessman, Barry Goldwater".
------ In 1985, he becomes a United States citizen, to comply with the country's media ownership laws.
------Highlights of the mid-80s.
----- His holdings expanded to include Fox Broadcasting Studios, in Hollywood. As owner of Twentieth Century Fox and the Fox television network, Hollywood has given him credit for both the hit TV show, "Simpsons", and the blockbuster feature film, "Titanic".
------ Adelaide News (sold in 1987 and closed in 1992). Murdoch purchased Adelaide in 1954. It was a marginally profitable afternoon daily paper. Applying his Daily Express experience, he created the giant sensationalized headlines that were to become his trademark, and the paper's readership soared.
------ In 1987, TVI Magazine, in an interview with Murdoch, predicts the success of his forth network, and the expansion of Desk Top Publishing into every office -- and its uses to transfer information over the telephone land line.
------ In 1988 His holdings expanded to include Fox Broadcasting Company, for which he assumed the chairman and chief executive roles in 1992.
------In 1988 TV Guide was acquired. By 1989 Murdoch's empire included newspapers, television stations, a movie studio, publishing houses, magazines, and large shares in news services.
----- But by 1991 his Australia-based News Corporation, Limited had accumulated immense debts, which resulted in his selling most of his American magazine holdings.
------- In 1995 the Federal Communications Commission (FCC) ruled that News Corp. had proven that its ownership of Fox Broadcasting was in the public's best interests, even though News Corp.'s share of the station exceeded the limit for foreign ownership of a broadcasting station. In the same year Murdoch announced that he would fund a new, weekly conservative magazine about politics, and News Corp. and MCI agreed to form a new company to electronically supply information worldwide.
------ The Dirty Digger of popular repute now enjoys a global reach, using a sophisticated system of communications satellites to reach his audience, whether in Baltimore, Pasadena or Beijing.
------Domestically, though, Murdoch's life has been complicated, to say the least. After a short-lived early marriage, he and his second wife, Anna,
------ divorced in 1999, after 31 years.
------ Three weeks later he married, Wendi Deng, a Chinese-born News Corp executive. He was 68, she 32. ------ SkyFORUM seminars commenced in April 2001, New York City.
------Rupert and Wendi's child, Grace, was born in November 2001.

By Lines: Editors Note
"You see things that are and ask why. I see things that never were and say why not?" - George Bernard Shaw. It was in the 1980s, when Al Preiss, the co-founder of TVI, first became interested in the life of Rupert Murdoch, and we have followed his accomplishments ever since.
A LOOK AT
Rupert Murdoch
------We took a hard look at Rupert Murdoch, during his SkyFORUM seminar in April 2001, at the Marriott in New York City. The Chairman & Chief Executive of News Corporation and Sky Global Networks was the Keynote speaker at his SkyFORUM discussing at length his role in shaping the industry's future.
----- "He was TVI's first POW in 1987, and it was my first "hands-on" publication", says TVI publisher, Josie Cory, during the interview for this Byline Story. "After taking over the magazine from Al Preiss, (see page 18, "Tribute To A Publisher"), I needed something hot . . . so it was Fox and the Internet and computers". During the TVI interview, for FOX: A FOURTH NETWORK? -- Three constant key words kept popping up; two political parties, two baseball leagues and three networks. Perhaps because the time was right, and according to Jamie Kellner, the then Fox Broadcasting president and CEO, Murdoch commenced Fox to start the fourth network. "It will work when other ventures haven't because the time is right for a fourth network despite what has and is being written in the media. There are enough advertising dollars to make this a success. Almost $1 billion is leaving the networks, and going to cable and barter television, he said."
Kellner asserted that there wasn't enough ad time available at reasonable costs in network television, that would enable, would be advertisers to go national, . . . therefore . . . "the Fox Network", said Josie Cory.
---Ja((Jamie Kellner would later become the founder of the WB Network.)
----- It took Murdoch another five years to announce his plans to go international. Again, TVI was there on Thursday April 5th, 2001 at the Marriott Marquis in New York City, when Murdoch himself, the Chairman and Chief Executive, News Corporation and Sky Global Networks - discussed his role in shaping the industry's future and satellites, at his own SkyFORUM seminar.
"Rupert Murdoch embodies to me the confluence that occurs when you combine the erudition, philosophy and pragmatism", of the finest of Americans, said Josie Cory.

TVI's legal entertainment journalist,
Pat Maginnis explains it this way:
-----Ayn Rand would worship the ground Rupert Murdoch walks on, and she would marvel that her heroic fictional character John Galt has finally been anthropomorphosed into a man who is not an ideologue, but a bottom liner.
-----As Ayn Rand once said in defining her philosophy of objectivism: "My philosophy, in essence, is the concept of man as a heroic being, with his own happiness as the moral purpose of his life, with productive achievement as his noblest activity, and reason as his only absolute."
-----Alvin Toffler would lustily embrace Rupert Murdoch as the reincarnation of his warning to the world that: "Man has a limited biological capacity for change. When this capacity is overwhelmed, the capacity is in future shock." Rupert Murdoch has lived this philosophy of Alvin Toffler all of his life.
----- Rupert Murdoch, seems to have picked up a few of Barry Goldwater political visionary thoughts. He was not a curmudgeon, and he treated his employees very well. He was also a bottom liner who felt government that governs least governs best. He was not for pork barrel spending and he abhorred government subsidies of any kind. His work: "Why Not Victory," is a mirror image of the hard driving life story of media mogul Rupert Murdoch, it exemplifies Rupert Murdoch's approach to government that include values that foster balanced budgets, denigrate bureaucracies, and foster innovation -- not for blind followers, and not for conformists."
-----Like this web page stresses, Murdoch has done it by himself, and he still maintains control over his vast empire, which includes: publishing, TV, movies, magazines, satellite transmission and the famous TV Guide. His critics have torched him as a right wing ideologue who is ruthless, and is hell bent on success. So what if he does not act or look like Richard Branson? He is just as successful.
-----A friend of mine, named John Ferretti, who works for Rupert Murdoch at DIRECTV loves the company, his job and the company philosophy in spite of all the media critics who prefer political correctness over progress and results.
-----In his own philosophical bent Rupert Murdoch tells us "I'm a catalyst for change... You can't be an outsider and be successful over 30 years without leaving a certain amount of scar tissue around the place."
-----"The world is changing very fast. Big will not beat small anymore. It will be the fast beating the slow." Rupert Murdoch is also a man of religious ideals. He received the award of the Order of the Knights of Malta from Cardinal Roger Mahoney in Los Angeles several years ago.
-----"Rupert Murdoch is truly A Man For All Seasons as Erasmus would gladly tell all of us", says,. Patrick Maginnis.

Global reach
------Strangely for a man who despises the aristocracy and praises meritocracy, Murdoch has shamelessly promoted three of his four grown-up children to run his companies.
------Though his daughter, Elizabeth, left Sky Television to pursue her own dreams, sons James and Lachlan remain poised to take over from their father, whose recent brush with prostate cancer caused tremors in financial markets.
------Whether pronouncing on New Labour (he is broadly in favor) or on the Euro (he is firmly against British participation), Rupert Murdoch continues to live up to his billing as a press baron.
------An early apostle of digital broadcasting, Murdoch entered the Internet business just as the smart money left town. It is clear that he still sees plenty of dragons ripe for slaying.
------With no intention of retiring, Rupert Murdoch's many fans and enemies may well have to put up with the Digger for some time yet.

Rupert Murdoch is probably the bravest
deal-maker the world has ever known" -- says Andrew Neil -
"he bought London's News of the World".
------ 1968 brought a major breakthrough, when Murdoch beat Robert Maxwell to buy London's News of the World. He later incorporated the Sun, the Times and the Sunday Times into his News International group.
------It was the Sun which introduced bare breasts to the breakfast table and which, during the 1982 Falklands conflict, provided history's most infamous headline.
------GOTCHA!, screamed the paper's front page after the sinking of the Argentinean cruiser, General Belgrano, to huge outrage.-
-----As Charles Foster Kane once put it: "If the headline is big enough, it makes the news big enough". Murdoch went from strength to strength. Moving to New York in the '70s, he snapped up, and revitalized, both the New York Post and New York magazine.
------But it was the 1980s which, in many people's minds, defined Murdoch. Leaving Fleet Street for good, he relocated to Wapping in London's East End, refused to recognize unions and sacked 5000 workers.
------Vowing to "shock people into a new attitude", Murdoch fought a year-long battle which, though eventually victorious, made him into a bogey-man for many on the left.
------But Andrew Neil, his former right-hand man at the Sunday Times and Sky Television, called Murdoch "probably the most inventive, the bravest deal-maker the world has ever known".
------Profits from Murdoch's lower-cost newspaper empire offset the losses he accrued at Sky Television, allowing him to buy the rights to Premiership football and revolutionize the sport, to many people's disgust.

MORE-

/Respectfully Submitted
Josie Cory
Publisher/Editor TVI Magazine
TVI Magazine, tviNews.net, Associated Press, Reuters, BBC, LA Times, NY Times, VRA's D-Diaries, Press Releases, They Said It Tracking Model, and SmartSearch were used in compiling and ascertaining this Yes90 news report.-
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