Rupert Murdoch

When his father died in 1952, Murdoch took over as publisher of the struggling Adelaide News and Sunday Mail. The Herald was extremely successful, but Murdoch's father owned little stock in that publication. It was the first time that Murdoch sensed the excitement of the power to influence others. The idea of communicating news and ideas was, and still is, his big fascination.In 1968, Murdoch began his assault on England with his acquisition of the News of the World. There was criticism that Murdoch's News of the World only catered to sensationalism, however, he maintained that he was only giving people what they wanted. His increased circulation, at the expense of his competitors, seemed to prove him right. Murdoch then turned to the U.S. Not only did he see publishing opportunities, he also realized that there was a conservative vacuum developing as a result of Richard Nixon's Watergate problems. Murdoch's biggest deal and largest takeover was his purchase of Triangle publications from Walter H. Annenberg for $3 billion. This acquisition included TV Guide, which had the largest circulation of any magazine in the U.S., Seventeen, the Daily Racing Form, and a magazine distribution business. This elevated Murdoch's News Corporation to a colossus, with assets totaling more than $11 billion.