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News Corporation, owned by Rupert Murdoch, owns 83% of Fox News -- president George W. Bush's favourite channel for 'Fair and Balanced' coverage:
http://www.guardian.co.uk/business/story/0,3604,1187162,00.html
News Corporation started out as an Australian outfit, managing local newspapers. The primary mode of growth for News Corporation has thus far been aquisition. Recently, as mentioned in the article above, it has become fiscally appreciable for News Corporation to run their shop from within U.S. borders.
So does this represent a potentially dangerous consolidation of interests and controls?
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Some backround: Rupert Murdoch has quite an impressive record of aquisition. In the '60s, News Corp. acquired Sydney, Australia's "the Mirror" and London's "the News of the World" and "the Sun". In the '70s, News Corp. got ahold of NY, NYs "New York Post". In the '80s, 20th Century Fox and Fox TV. In the '90s, Murdoch gained domination in Asian markets, gathering under his fleet of powerful media organizations "Star Television". And these are merely the aquisitions Time magazine found most impressive.
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So such potent conglomeration is not very comforting in general. I personally feel like we could all take some small comfort from the fact that News Corp. wasn't based in the U.S. -- now that it all ties back, does this change things? Does anyone find this consolidation of media power any more threatening due to this news, or it just more of the same? |
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