“A very able buccaneer” — “a sinister force” — “an old pirate” — “schlock, just like his papers are schlock.” These assorted epithets, offered by some of his competitors, suggest the fear and distaste, occasionally mixed with grudging awe, inspired by Rupert Murdoch, proprietor of one of the world’s largest and oddest newspaper companies. The Australian rebel plans, in all seriousness, to build News Corp., his $1.4-billion-a-year publishing operation, into the biggest communications company in the world. Murdoch intends to grow mainly through acquisitions and expansion into new communications businesses, mostly in the U.S.Here is a wonderful article on Murdoch’s empire and the steps he have climebed to grab this. It is certainly a wonderful read for all.For investors, Murdoch’s management of News Corp. demonstrates the bright and dark sides of betting on an impetuous entrepreneur. His controlling interest has allowed him to take big risks and run his properties his way — for the most part, successfully. But control has also let him indulge his proprietor’s penchant for hanging on to losers too long, to the detriment of the public shareholders.
Here is the wonderful story, a short biography of Rupert Murdoch…..