Murdoch’s Setback in the Outback — Media Tycoon With Problems

August 2, 2011

Suddenly his global media empire is trembling. Scandals are rocking Rupert Murdoch’s mighty corporation, News Corporation, owner of everything from Fox News to the Wall Street Journal and The Times of London.

Revelations of sordid phone-hacking have forced the Australian tycoon to close the world’s biggest-selling English-language newspaper, the News of the World.

But the Dirty Digger, as he has been dubbed, has a way of bouncing back. He graduated in the rough-and-tumble Aussie newspaper business. Way back in the 1960s, before Murdoch set out to take over the world, he learned a useful lesson in Australia’s Outback: don’t start a circulation war in the wrong place. Read the rest of this entry »