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Editor's Note: The following has been adapted with the author's permission from its original publication on Carolina Culture Warrior. To be fully transparent, the author also owns shares in ABC (as previously disclosed).
By now, the shock and awe of Rupert Murdoch’s December 14 sale of 21th Century Fox to Disney has set in, so it’s worth a look back at how Murdoch built Fox into the mammoth film and television force it’s become today.
Australian-born - Murdoch - Mark - Media - Industry
Born in 1931, the Australian-born Murdoch has he left an indelible mark on the media industry. After inheriting his father’s media empire, he eventually acquired a slew of television stations, as well as the iconic movie studio 20th Century Fox from oil magnate Marvin Davis.
The 86-year-old mogul eventually took advantage of his Fox acquisition to start up a fourth broadcast television network in 1987 – the Fox Broadcasting Company, which has been a colossal success, spurring the launch of a popular cable news channel and a sports division, not to mention being in the Saturday Morning cartoon business for 11 years.
Deal - Month - Lot - Business - Sense
As for the deal he made almost a month ago, it definitely makes a lot of business sense. But, here’s what’s really interesting. The day the deal between Disney and Fox was announced, Murdoch said this on the Fox Business Network:
There’s only Must See Fox News and Must See Fox Business. Entertainment is more and more non-linear. We see that in the way people watch the broadcast networks. There is no loyalty...
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