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Who Owns Fox News: Ownership of a Media Giant

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Fox News has become a household name, recognized for its distinctive brand of news reporting and conservative-leaning commentary. But have you ever wondered who owns Fox News and holds the reins of this influential media outlet? In this article, we will explore the ownership structure of Fox News, delving into its history, key players, and recent developments. Let’s unravel the story behind the ownership of Fox News.

I. Introduction

A. Brief overview of Fox News

Fox News, launched in 1996, is a cable and satellite news channel known for its conservative political commentary, news programming, and opinion shows. It has gained a significant viewership and often draws attention for its unique approach to reporting.

B. Importance of understanding the ownership of media outlets

Understanding the ownership of media outlets is crucial as it sheds light on potential biases, editorial control, and agenda-setting power. Media ownership influences the narratives, values, and perspectives conveyed through news content, ultimately shaping public opinion.

II. Rupert Murdoch: The Founder

Rupert Murdoch

A. Background and early life of Rupert Murdoch

Rupert Murdoch, an Australian-born media mogul, is the central figure in the ownership of Fox News. Born in 1931, Murdoch built an empire through his innovative business strategies and acquisitions in the media industry.

B. Creation of Fox News

In 1996, Rupert Murdoch founded Fox News as a part of the Fox Entertainment Group. Murdoch’s vision was to provide an alternative conservative perspective in the predominantly liberal media landscape.

C. Expansion of Murdoch’s media empire

Murdoch’s media empire extends beyond Fox News. He built an extensive network of newspapers, television stations, and entertainment companies worldwide, consolidating his influence in the media industry.

III. News Corporation and 21st Century Fox

A. Overview of News Corporation

In 1979, Rupert Murdoch established News Corporation, which served as the parent company for his media ventures. News Corporation encompassed a vast range of properties, including newspapers, magazines, television networks, and film studios.

B. Split into 21st Century Fox and News Corp

In 2013, News Corporation split into two separate entities: 21st Century Fox and News Corp. The split aimed to segregate the company’s more profitable entertainment assets under 21st Century Fox and the publishing assets under News Corp.

C. Rupert Murdoch’s Control and Influence over Fox News

Following the split, Rupert Murdoch retained control and influence over both 21st Century Fox and News Corp. This meant that Murdoch continued to have a significant say in the operations and direction of Fox News.

IV. Acquisition by The Walt Disney Company

A. The Disney-Fox deal

In 2017, a major development occurred in the ownership landscape of Fox News. The Walt Disney Company announced its acquisition of 21st Century Fox, including its entertainment assets, in a landmark deal worth billions of dollars.

B. Impact on Fox News ownership and operations

The acquisition by Disney brought about significant changes for Fox News. As part of the deal, Fox News, along with other Fox assets, became part of a new entity called Fox Corporation, separate from 21st Century Fox and under the control of Rupert Murdoch.

C. Rupert Murdoch’s continued involvement

Although Disney acquired a majority of 21st Century Fox, Rupert Murdoch retained a stake in the new Fox Corporation and remained actively involved in its affairs. This ensured his ongoing influence over the operations and editorial decisions of Fox News.

V. Fox Corporation

A. Formation and separation from 21st Century Fox

With the completion of the Disney-Fox deal, Fox Corporation emerged as a standalone entity, focusing primarily on news and sports broadcasting. This separation marked a significant milestone in the evolution of Fox News’ ownership structure.

B. Rupert Murdoch’s role in Fox Corporation

Rupert Murdoch continued to play a prominent role in Fox Corporation as the founder and executive chairman. His experience and vision shaped the company’s direction, including its news division, which encompasses Fox News.

C. Shareholders and ownership structure

While Rupert Murdoch and his family hold a substantial stake in Fox Corporation, there are other shareholders involved. The ownership structure includes institutional investors, individual shareholders, and potentially other media companies with strategic interests.

VI. Recent Developments

A. Changes in ownership and management

In recent years, there have been notable changes in the ownership and management of Fox News. As Rupert Murdoch’s sons, James and Lachlan Murdoch, took on more prominent roles within the Murdoch empire, shifts in leadership and strategic priorities became evident.

B. Impact of ownership on Fox News programming

The ownership of Fox News has been a subject of scrutiny and speculation regarding its influence on programming decisions. Critics argue that the ownership’s ideological leanings may shape the content and editorial direction of the channel.

C. Influence of external factors on Fox News ownership

External factors such as changing media landscape, regulatory environment, and public sentiment also impact the ownership dynamics of Fox News. Adapting to these factors requires strategic decisions that consider both business interests and public perception.

VII. Controversies and Criticisms

A. Allegations of biased reporting

Fox News has faced allegations of biased reporting, with critics claiming that its conservative slant influences the news coverage and commentary. These accusations raise questions about the role of ownership in shaping the channel’s editorial stance.

B. Influence of ownership on editorial decisions

The ownership of Fox News inevitably plays a role in editorial decisions, including story selection, framing, and the allocation of airtime. Understanding the ownership context helps shed light on potential biases and influences on the channel’s content.

C. Public perception and criticism

Fox News has garnered both a devoted viewership and significant criticism from various quarters. Public perception of the channel’s ownership impacts its credibility and how it is perceived by different segments of the audience.

VIII. Conclusion: Who Owns Fox News

Rupert Murdoch stands as a central figure in the ownership of Fox News. From its founding by Murdoch to the recent developments under Fox Corporation, the ownership structure of Fox News has undergone significant transformations. The acquisition by The Walt Disney Company and the subsequent formation of Fox Corporation has reshaped the landscape of media ownership.

Despite these changes, Rupert Murdoch’s continued involvement ensures his influence over the operations and editorial decisions of Fox News. The ownership of Fox Corporation includes institutional investors, individual shareholders, and strategic interests.

Understanding the ownership of media outlets, particularly influential ones like Fox News, is essential for comprehending the potential biases, agendas, and influences that shape the news landscape. Media ownership plays a pivotal role in shaping public opinion and the narratives conveyed through news content.

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