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ERIC Number: ED205970
Record Type: Non-Journal
Publication Date: 1981-Aug
Pages: 12
Abstractor: N/A
Reference Count: N/A
Rupert Murdoch: Emergence of a Multinational Media Magnate.
Maittlen-Harris, John P.
Rupert Murdoch's acquisition of the London "Times" was another step in what appears to be his emergence as the world's first truly international mass media magnate. After inheriting substantial Australian newspaper holdings from his father, Murdoch entered into many financial, circulation, and takeover battles during the course of his expansion. He acquired several financially ailing newspapers (including the "Times"), which competitors mistakenly thought would ruin Murdoch. Murdoch revived these papers by means of sensational or tabloid journalism, for which he has been heavily criticized. Some think however, that his acquisition of the "Times" may be his entry into legitimate journalism. The rapid expansion of his newspaper holdings is the result of a financial strategy in which he borrows heavily to finance a purchase, develops the profitability of the new purchase as quickly as possible, and uses these profits to pay off his loans. Murdoch's New York "Post" holds 30% of the daily newspaper market in that city, in addition to his hold on the British and Australian market. Observers think that if he bought or established one more newspaper in the American market, he would have a powerful influence on future political campaigns in the United States through media support of a particular candidate or platform. He has already been accused of biased political coverage in several of his papers. The political emphasis the London "Times" takes is likely to be watched closely. (HTH)
Publication Type: Speeches/Meeting Papers; Information Analyses
Education Level: N/A
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A