News Corp (Class B)

News Corporation is a global media and information services company that creates and distributes authoritative and engaging content to consumers and businesses worldwide. Founded by media mogul Keith Rupert Murdoch in 1979, the company has evolved into one of the world's most influential media conglomerates. The current News Corp was incorporated in 2012 and began trading on the Nasdaq stock exchange under the symbol 'NWS' on July 1, 2013, following a major corporate restructuring that separated entertainment assets (which became 21st Century Fox, later acquired by Disney) from publishing and media properties. Headquartered in New York, News Corporation operates through five primary business segments: Dow Jones (professional information services and consumer publishing), News Media (news and information services in the UK and Australia), Book Publishing (HarperCollins), Digital Real Estate Services (REA Group and Move, Inc.), and Subscription Video Services. The company's portfolio includes some of the most prestigious media brands in the world, including The Wall Street Journal, Barron's, MarketWatch, The Times, The Sun, The Australian, the New York Post, and book publisher HarperCollins. News Corp also owns significant digital real estate platforms including realestate.com.au (through REA Group) and realtor.com (through Move, Inc.). The historical roots of News Corp trace back to 1923 when News Limited was founded in Adelaide, Australia. In 1949, Keith Murdoch took control of Adelaide's afternoon tabloid The News, and when he died in 1952, his son Rupert inherited a controlling interest, beginning the Murdoch family's transformation of a regional newspaper into a global media empire. In 1980, Rupert Murdoch established News Corp as a holding company for News Limited, expanding aggressively through acquisitions in the United Kingdom and United States. The company operates under a dual-class share structure, with Class B shares (NWS) concentrating voting control primarily with the Murdoch family, while Class A shares (NWSA) offer economic interest with limited voting rights. This structure has enabled the Murdoch family to maintain strategic control of the company through multiple generations. In fiscal year 2024, News Corporation reported total revenues of $9.88 billion, showcasing its significant market presence despite the challenging media landscape. The company has undergone a significant digital transformation in recent years, with digital revenues now representing the majority of income across most segments. Dow Jones, one of News Corp's flagship divisions, achieved record profitability in 2024 with revenues of $2.3 billion, a 14% increase year-over-year, with digital revenue accounting for approximately 80% of segment revenue. The company has demonstrated remarkable resilience and adaptability in the face of industry disruption, transitioning from traditional print media to a digital-first business model with subscription revenue as the primary driver. Under CEO Robert Thomson's leadership since 2013, News Corp has 'engineered a seismic shift toward recurring digital revenue streams, reduced reliance on cyclical advertising, and positioned itself as a leader in AI-driven content innovation.' The company has been at the forefront of developing new business models for journalism in the digital age, including pioneering content licensing agreements with major AI platforms. In May 2024, News Corp struck its first licensing deal with OpenAI reportedly worth $250 million over five years, and is actively pursuing additional partnerships with other AI companies, viewing AI as both a challenge and opportunity for quality journalism. The company has also taken legal action to protect its intellectual property, suing Perplexity in October 2024 for alleged 'massive illegal copying' of content without permission or compensation. News Corp serves millions of consumers globally with trusted news, information, and entertainment content, while also providing essential business intelligence and data analytics services to professionals through Dow Jones. The company employs thousands of journalists, editors, authors, and content creators worldwide, maintaining a commitment to journalistic integrity and editorial independence across its diverse portfolio of brands.