Editing News Corporation (section)

===Further development===
In late 2003, News Corp acquired a 34% stake in [[Hughes Electronics]] (now [[DirecTV Group]]), operator of the largest American satellite TV system, from [[General Motors]] for US$6&nbsp;billion.<ref>{{cite news|url=https://www.nytimes.com/2003/04/09/business/gm-board-set-to-sell-control-of-hughes-unit-to-news-corp.html|title=G.M. Board Set to Sell Control Of Hughes Unit to News Corp.|newspaper=The New York Times|date=April 10, 2003|accessdate=December 8, 2022}}</ref> DirecTV was sold to [[Liberty Media]] in 2008 in exchange for its stake in News Corporation.

In January 2005, shortly after reincorporation in the United States, News Corporation announced that it was buying out [[Fox Entertainment Group]].<ref>{{cite news|last=Lazaroff|first=Leon|title=Murdoch to buy out Fox shares|url=https://www.chicagotribune.com/2005/01/11/murdoch-to-buy-out-fox-shares/|access-date=October 11, 2012|newspaper=Chicago Tribune|date=January 11, 2005}}</ref> The manoeuvre delisted Fox from the [[New York Stock Exchange]]; Fox had traded on the NYSE under the ticker '''FOX'''.<ref>{{cite web|title=News Corporation Completes Acquisition of Fox|url=http://www.newscorp.com/news/news_245.html|publisher=News Corp|access-date=October 11, 2012}}</ref>

In 2004, Murdoch set aside $2&nbsp;billion and handpicked a team of young executives to look at possible ways to use the Web as a distribution platform. That team was composed of four rising stars: Ross Levinsohn, Adam Bain, [[Travis Katz]], and Michael Kirby.  The four became the backbone of what would become News Corp's digital division, Fox Interactive Media.<ref>{{Cite news|date=2011-04-07|title=Special report: How News Corp got lost in Myspace|language=en|work=Reuters|url=https://www.reuters.com/article/ctech-us-myspace-idCATRE7364G420110407|access-date=2020-05-26}}</ref>

Shortly after, in July 2005, News Corporation purchased the social networking website [[Myspace]] for $580&nbsp;million.<ref name="business of spam">{{cite web|last=Lapinski|first=Trent|title=MySpace: The Business of Spam 2.0 (Exhaustive Edition)|url=http://valleywag.com/tech/myspace/myspace-the-business-of-spam-20-exhaustive-edition-199924.php|work=ValleyWag|date=September 11, 2006|access-date=March 13, 2008|url-status=dead|archive-url=https://web.archive.org/web/20080312041913/http://valleywag.com/tech/myspace/myspace-the-business-of-spam-20-exhaustive-edition-199924.php|archive-date=March 12, 2008}}</ref><ref name="BBC 2005">{{cite news|title=News Corp in $580m internet buy|url=http://news.bbc.co.uk/1/hi/business/4695495.stm|work=BBC News|date=July 19, 2005|access-date=March 13, 2008}}</ref> News Corporation had beat out [[Viacom (1952-2006)|Viacom]] by offering a higher price for the website,<ref name="Remember">{{cite magazine|last=Haden |first=Jeff |url=https://business.time.com/2011/01/12/remember-news-corp-s-brilliant-myspace-buy/ |title=MySpace Layoffs Are A Good Reminder how Uncool Rupert Murdock's acquisition of the social media was?|magazine=Time |date=January 12, 2011 |access-date=June 30, 2012}}</ref> and the purchase was seen as a good investment at the time.<ref name="Remember" /> Of the $580&nbsp;million purchase price, approximately $327&nbsp;million has been attributed to the value of Myspace according to the financial adviser [[fairness opinion]].<ref>{{cite press release|title=Internet Entrepreneur & Myspace Founder Brad Greenspan Leads Investment Group Seeking to Take Non-Controlling Stake in Dow Jones Corp.|url=http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/06-20-2007/0004612480&EDATE=|agency=PR Newswire|date=June 20, 2007|access-date=March 13, 2008}}</ref> Within a year, Myspace had tripled in value from its purchase price.<ref name="Remember" />

In February 2007, Murdoch announced at the McGraw-Hill Media Summit that the Fox Entertainment Group would launch a new business news channel later in the year, which would compete directly against rival network [[CNBC]]. Murdoch explained that the channel would be more "business-friendly" than CNBC, because he felt that they "leap on every scandal, or what they think is a scandal."<ref>[https://web.archive.org/web/20090830081743/http://www.businessweek.com/bwdaily/dnflash/content/feb2007/db20070208_987706.htm?chan=search Rupert Murdoch Speaks His Mind], ''Business Week'', February 2007.</ref> In July 2007, News Corp. reached a deal to acquire [[Dow Jones & Company]], owners of ''[[The Wall Street Journal]]'', for $5&nbsp;billion.<ref name="Real estate mornington"/><ref name=wsj-djacquired>{{cite news|title=Murdoch Wins His Bid for Dow Jones|url=https://www.wsj.com/articles/SB118589043953483378 |newspaper=The Wall Street Journal|access-date=May 11, 2013}}</ref> Despite CNBC already having a contract with Dow Jones to provide content and services to the network, the Fox Entertainment Group officially launched the [[Fox Business Network]] on October 15, 2007. Alexis Glick, the network's original morning show host and vice president of business news, indicated that its lawyers had reviewed the details of Dow Jones' contract with CNBC, but noted that it would still "actively use" other Dow Jones properties.<ref>[https://www.hollywoodreporter.com/hr/content_display/news/e3i118a16d2ff59590bd77181d8da9c9fb9 ''Fox Business makes TV debut'', Hollywood Reporter, 16 October 2007]. {{Retrieved|access-date=October 17, 2007}} {{webarchive |url=https://web.archive.org/web/20071017011534/http://www.hollywoodreporter.com/hr/content_display/news/e3i118a16d2ff59590bd77181d8da9c9fb9 |date=October 17, 2007 }}</ref><ref>[https://www.usatoday.com/money/media/2007-10-14-fox-business-network_N.htm/ ''Fox Business Network blazes new trail'', ''USA Today'', 14 October 2007]. {{Retrieved|access-date=October 17, 2007}}</ref>

On December 16, 2008, News Corporation announced that it would transfer its US shares from the NYSE to the [[NASDAQ]] which was made effective two weeks later.<ref>{{cite web|url=https://www.newscorp.com/news/news_403.html|archive-url=https://web.archive.org/web/20081218000240/|title=News Corporation Announces Move to NASDAQ Global Select Market|work=News Corporation|date=2008-12-16|archive-date=2008-12-18|url-status=dead|access-date=2025-02-15}}</ref> In September 2009, News Corp established NewsCore, a global wire service set up to provide news stories to all of News Corp's journalistic outlets.<ref>[https://www.theguardian.com/media/2009/sep/07/news-corporation-newscore-wire ''Rupert Murdoch's News Corp launches global service to link all its outlets'', Guardian.co.uk, 7 September 2009]. {{Retrieved|access-date=September 15, 2010}}</ref>

In April 2010, News Corporation sold Bulgarian broadcaster [[bTV (Bulgaria)|bTV]], which it launched on 1 June 2000, as part of a deal to [[Central European Media Enterprises]] (CME) for $400&nbsp;million in addition to another $13&nbsp;million for working capital adjustment. The deal included cable channels [[bTV Comedy]] and [[Btv Cinema]] and News Corporation's 74% stake in Radio Company CJ which included five radio stations.<ref>{{cite web |url=https://www.novinite.com/articles/115423/News+Corporation+Completes+Sale+of+Bulgaria%27s+bTV+to+CME |title=News Corporation Completes Sale of Bulgaria's bTV to CME |date=April 20, 2010 |website=www.novinite.com}}</ref>

In September 2010, due to the Fijian government's requirement that the country's media outlet must be 90% owned by Fiji Nationals, News Corporation sold 90% of their stake in their Fijian newspapers (''[[Fiji Times]]'', ''Nai Lalakai'', and ''[[Shanti Dut]]'') to Motibhai Group of Companies.<ref>{{cite news|title=News Limited sells Fiji Times to Fijian company Motibhai|author=Staff writers of ''[[The Australian]]''|url=http://www.theaustralian.com.au/news/world/news-limited-sells-fiji-times-to-fijian-company-motibhai/story-e6frg6so-1225924003166|newspaper=[[The Australian]]|date=September 15, 2010|access-date=January 29, 2011}}</ref>

In November 2010, News Corp purchased education technology and student progress tracking company [[Wireless Generation]] for $360 million. The company was the NY City Education Department's partner for its School of One pilot program (now [[Teach to One]]).<ref>{{Cite news|url=https://www.nytimes.com/2010/11/24/nyregion/24newscorp.html|title=News Corp., After Hiring Klein, Buys Technology Partner in a City Schools Project|first=Fernanda|last=Santos|work=The New York Times |date=November 24, 2010|via=NYTimes.com}}</ref>

In late February 2011, News Corp officially put the now-struggling Myspace up for sale, which was estimated to be worth $50–200 million.<ref>{{cite news|url=https://www.reuters.com/article/idINIndia-54673520110205|work=Reuters  |title=News Corp taps Allen & Co for MySpace interest – sources|date=February 5, 2011}}</ref> Losses from the last quarter of 2010 were $156 million, over double of the previous year, which dragged down the otherwise strong results of parent News Corp. Its struggles were attributed to the growth of the competing social network [[Facebook]].<ref name="myspace-online.wsj.com">{{cite news|last=Vascellaro|first=Jessica E.|url=https://www.wsj.com/articles/SB10001424052702304584004576415932273770852 |title=News Corp. Selling Myspace to Specific Media |work=The Wall Street Journal|date=June 30, 2011|access-date=October 23, 2011}}</ref><ref>{{cite news|url=https://www.wsj.com/articles/SB10001424052748703530504576164830897334082 |work=The Wall Street Journal|first1=Jessica E.|last1=Vascellaro|first2=Russell|last2=Adams|title=Myspace Opens Books to Prospective Buyers|date=February 25, 2011}}</ref> The deadline for bids, May 31, 2011, passed without any above the reserve price of $100&nbsp;million being submitted.<ref>{{cite news|url=http://allthingsd.com/20110531/the-myspace-sweepstakes-drag-on-another-bid-deadline-today-as-sale-deadline-looms/|work=All Things D|first1=Kara|last1=Swisher| title=The Myspace Sweepstakes Drag on–Another Bid Deadline Today As Sale Deadline Looms|date=June 3, 2011}}</ref> The rapid deterioration in Myspace's business during the most recent quarter had deterred many potent suitors.<ref name="myspace-online.wsj.com"/> Later in June, Specific Media and pop singer [[Justin Timberlake]] bought the site for $35&nbsp;million, which CNN reported noted was "far less than the $580&nbsp;million News Corp. paid for Myspace in 2005."<ref>{{cite news|author=[[Laurie Segall]]|url=https://money.cnn.com/2011/06/29/technology/myspace_layoffs/index.htm?hpt=te_bn2|title=News Corp. sells Myspace to Specific Media|publisher=CNN|date=June 29, 2011|access-date=June 29, 2011}}</ref> Murdoch went on to call the Myspace purchase a "huge mistake".<ref name="huge mistake">{{cite web|url=http://latimesblogs.latimes.com/entertainmentnewsbuzz/2011/10/news-corps-murdoch-calls-myspace-a-huge-mistake.html |title=News Corp.'s Rupert Murdoch calls Myspace buy a 'huge mistake' |work=Los Angeles Times |date=October 21, 2011 |access-date=June 30, 2012}}</ref>

On July 13, 2011, Rupert Murdoch announced that the company would withdraw its [[News Corporation takeover bid for BSkyB|takeover bid]] for [[BSkyB]] due to concerns relating to the ''News of the World'' scandal.<ref>{{cite news|url=https://www.telegraph.co.uk/news/uknews/phone-hacking/8634176/News-of-the-World-phone-hacking-scandal-timeline.html|archive-url=https://web.archive.org/web/20110714013912/http://www.telegraph.co.uk/news/uknews/phone-hacking/8634176/News-of-the-World-phone-hacking-scandal-timeline.html|url-status=dead|archive-date=July 14, 2011|title=News of the World phone hacking scandal: timeline|newspaper=The Daily Telegraph|date=July 7, 2005|access-date=July 14, 2011|location=London|first1=Indu|last1=Chandrasekhar|first2=Murray|last2=Wardrop|first3=Andy|last3=Trotman}}</ref> News Corporation already owned, and continues to own, 39.1% of BSkyB.

On June 6, 2012, News Corporation announced that it would buy out [[ESPN Inc.]]'s stake in [[ESPN Star Sports]] to gain full control over the Asia-Pacific sports network.<ref>{{cite news|url=http://www.thehindu.com/sport/other-sports/article3497298.ece|title=News Corp to buy out ESPN from ESS, Sawhney to leave|date=June 6, 2012 | work=The Hindu}}</ref> On November 20, 2012, News Corporation announced that it would acquire a 49% stake in the [[regional sports network]] [[YES Network]], owned by the [[Major League Baseball]] team [[New York Yankees]].<ref>{{cite news|url=https://www.hollywoodreporter.com/news/general-news/news-corp-acquires-yes-network-393332/|title=News Corp Acquires YES Network|website=[[The Hollywood Reporter]]|date=November 21, 2012|accessdate=December 8, 2022}}</ref><ref>{{cite news|url=https://www.ctvnews.ca/business/news-corp-to-acquire-stake-in-yankees-regional-sports-channel-1.1046465|title=News Corp. to acquire stake in Yankees' regional sports channel|website=[[CTV News]]|date=November 20, 2012|accessdate=December 8, 2022}}</ref><ref>{{cite news|url=https://www.adweek.com/tvnewser/news-corp-acquires-stake-in-yes-network-but-how-does-it-affect-fox-sports-1/156941/|title=News Corp. Acquires Stake In YES Network, But How Does It Affect 'Fox Sports 1'?|website=TVNewser|publisher=Adweek|date=November 20, 2012|accessdate=December 8, 2022}}</ref> In January 2013, News Corp. attained 54.5% majority control of [[Sky Deutschland]].<ref>{{cite news| url=http://uk.reuters.com/article/us-skydeutschland-newscorp-idUKBRE90D08W20130114| archive-url=https://web.archive.org/web/20160307155146/http://uk.reuters.com/article/us-skydeutschland-newscorp-idUKBRE90D08W20130114| url-status=dead| archive-date=March 7, 2016| title=News Corp to grab control of Sky Deutschland |author1=Christoph Steitz  |author2=Harro Ten Wolde  |name-list-style=amp | work=Reuters | date=January 14, 2013}}</ref>

On February 4, 2013, News Corporation announced the sale of [[IGN]] and its related properties to the publishing company [[Ziff Davis]]. News Corp. had planned to spin off IGN as an independent company, but failed to do so.<ref name=athingsd-ziff>{{cite news|title=News Corp.'s IGN Poised to Sell to J2's Ziff Davis|url=http://allthingsd.com/20130201/exclusive-news-corp-s-ign-poised-to-sell-to-j2s-ziff-davis/|newspaper=The Wall Street Journal|access-date=February 4, 2013}}</ref><ref name=ds-ziff>{{cite web|title=IGN Entertainment sold by News Corp to publisher Ziff Davis|url=http://www.digitalspy.ca/media/news/a456178/ign-entertainment-sold-by-news-corp-to-publisher-ziff-davis.html|website=Digital Spy|access-date=February 4, 2013}}</ref>