News Corp facts for kids
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Headquarters of News Corp in Manhattan, New York City
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Trade name
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News Corp |
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| Public | |
| Traded as | |
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| Industry | Media |
| Predecessor | News Corporation |
| Founded |
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| Founder | Rupert Murdoch |
| Headquarters | 1211 Avenue of the Americas,
New York City
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United States
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Area served
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Worldwide |
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Key people
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| Products |
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| Revenue |  US$9.88 billion (2023) |
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Operating income
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US$556 million (2023) |
| US$149 million (2023) |
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| Total assets | US$16.9 billion (2023) |
| Total equity | US$8.06 billion (2023) |
| Owner | Murdoch family (39% voting power) |
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Number of employees
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c. 25,000 (2023) |
| Subsidiaries | List of subsidiaries |
| Footnotes / references Financials as of June 30, 2023[update]. |
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News Corporation, also known as News Corp, is a big American company. It focuses on mass media and publishing. Its main office is in Midtown Manhattan, New York City.
The company started on June 28, 2013. It was created when the original News Corporation split into two parts. One part became 21st Century Fox, and the other became the new News Corp.
News Corp works in several areas. These include digital real estate information, news, book publishing, and cable television. Some of its well-known parts are Dow Jones & Company, which publishes The Wall Street Journal. It also owns News UK, which publishes The Sun and The Times. Other parts include News Corp Australia, REA Group (which runs realestate.com.au), realtor.com, and the book publisher HarperCollins.
News Corp and 21st Century Fox were both created from the first News Corp. The original company included Fox Entertainment Group and other media businesses. The split made 21st Century Fox the legal continuation of the old company. The new News Corp was a brand new company formed by a stock split.
Since March 19, 2019, Fox Corporation is a sister company to News Corp. Both are controlled by the Murdoch family. Fox Corporation holds the national broadcasting, news, and sports parts of 21st Century Fox. This happened after Disney bought most of 21st Century Fox.
On September 21, 2023, Rupert Murdoch said he would step down as News Corp's chairman. This change happened in November.
How News Corp Was Formed
On June 28, 2012, Rupert Murdoch announced a big change. He said that News Corporation's publishing businesses would become a new, separate company. This new company would be traded on the stock market.
Murdoch explained that splitting the company would help both parts grow. It would let investors see the true value of each business. He also hoped it would help with some challenges the company faced.
Robert Thomson, who was the editor of The Wall Street Journal, became the first chief operating officer for the new company. Murdoch did not become the CEO, but he stayed as chairman and a major shareholder. Thomson promised that the new company would be creative and find new ways to do business.
The new News Corporation's logo was shown on May 28, 2013. It was a handwritten logo, based on Murdoch's own handwriting.
News Corp's board of directors approved the split on May 24, 2013. Shareholders then approved it on June 11.
The new News Corp's stock started trading on the Australian Securities Exchange on June 19, 2013. The split was officially finished on June 28, 2013. During the stock split, shareholders received one share of the new News Corp for every four shares they owned in the old company.
The current News Corp began trading on the Nasdaq stock exchange on July 1, 2013. At the same time, the old News Corporation changed its name to 21st Century Fox. This old company then focused only on media properties like Fox Entertainment Group and 20th Century Fox.
What Happened After the Split
On September 4, 2013, News Corp announced it would sell the Dow Jones Local Media Group. This group included 33 local newspapers. Robert Thomson said these newspapers did not fit the company's new plans.
On December 20, 2013, News Corp bought Storyful. Storyful is a company based in Dublin, Ireland. It finds and checks user-generated content from social media. This was News Corp's first purchase since the split. Robert Thomson said Storyful was great at finding valuable videos.
On May 2, 2014, News Corp bought Harlequin Enterprises. Harlequin is a company that publishes romance novels. This deal finished on August 1, and Harlequin became part of News Corp's HarperCollins book publisher.
On September 30, 2014, News Corp announced it was buying Move, Inc.. Move, Inc. is a real estate listings company that owns Realtor.com.
News Corp also started investing in India in late 2014. They invested in a real estate site called ProTiger. They also bought BigDecisions.com, a financial planning website, and an Indian media company called VCCircle.
In October 2015, News Corp sold its digital education brand, Amplify. In June 2016, News Corp bought Wireless Group. Wireless Group is a British radio broadcaster.
In January 2020, News Corp sold Unruly, a video ad company. On July 31, 2020, James Murdoch left the News Corp board of directors. He had disagreements about some news content and other company decisions.
On February 4, 2022, News Corp faced a cyberattack. Hackers believed to be from China were involved.
In February 2023, the company said it would reduce its workforce by 5%. This affected different parts of the company.
In September 2023, News Corp announced that Rupert Murdoch would leave the board of News Corporation. His son, Lachlan Murdoch, would take his place on both boards. This change happened in November 2023.
Assets and Businesses
News Corp owns the newspaper and book publishing businesses from the original News Corporation. Its biggest business now is digital real estate advertising.
See also
In Spanish: News Corp para niños
