Who owns the Fox News channel? Learn all there is to know about this.
It turns out that the Fox Corporation owns Fox News. Fox Corporation is controlled and owned primarily by the Murdoch family. It is a global video brand comprising of FOX News Media, FOX Sports, FOX Entertainment, and FOX Television Stations, and the leading AVOD service TUB, owned by the Murdoch family, which retains most of the controlling power.
On June 2018, 21st Century Fox accepted Disney’s acquisition of its assets for $71.3 billion to acquire its film studio and TV assets. As explained in 21st Century Fox, the holding company of Fox, before part of the business was sold, in its annual report: “Twenty-First Century Fox, Inc. (formerly known as News Corporation), a Delaware corporation, is a diversified global media and entertainment company with operations in the following segments.”
The segments that the Fox Corporation is split into include cable network programming, television, filmed entertainment and other corporate eliminations. The world-famous corporation is owned by billionaire and entertainment tycoon Rupert Murdoch, who controls a media empire also consisting of The Times of London and The Wall Street Journal.
How much is Rupert Murdoch and the Murdoch family worth?
As it turns out, Rupert Murdoch is worth an estimated $17.5billion.
Rupert Murdoch, the 89-year-old patriarch of the Murdoch Family, inherited an Australian newspaper at age 22 and built out the family’s media empire from there. He has been married four times and has six children. The Murdoch family’s nearly $17.9 billion fortune comes from a media empire that dates back to the 1950s.
The early success of the newspaper allowed Murdoch to expand his empire quickly. He started Australia’s first nationwide newspaper, The Australian, in 1964. By the 1970s, he was purchasing titles like the UK’s News of the World and The Sun. He founded Fox News in 1996. In 2018, The New York Times wrote that Murdoch was able to grow the empire so quickly “in part by ruthlessly using his platform to help elect his preferred candidates and then ruthlessly using those candidates to help extend his reach.”