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It was additionally famous that the stations themselves were owned by a separate company whose chief shareholder was a U.S. citizen, Murdoch, though nearly the entire stations’ equity was controlled by News Corp. In the same 12 months, News Corporation introduced a deal with MCI Communications to develop a major news website as well as funding a conservative news journal, The Weekly Standard. In the identical yr, News Corp launched the Foxtel pay tv community in Australia in a partnership with Telstra and Publishing and Broadcasting Limited. On July 17, 1996, News Corporation acquired New World Communications and was accomplished on January 22, 1997. In October 1996, the Fox Entertainment Group established the Fox News Channel, a 24-hour Cable News network to compete in opposition to Time Warner’s rival channel CNN. Websitenewscorp.com on the Wayback Machine The authentic incarnation of News Corporation (abbreviated News Corp.) was an American multinational mass media corporation operated and owned by media mogul Rupert Murdoch and headquartered in New York City. Prior to its break up in 2013, it was the world’s fourth-largest media group by way of revenue, and News Corporation had turn out to be a media powerhouse since its inception, nearly dominating …