MEDIA MOGUL'S WEALTH AN ENIGMA; FORBES ESTIMATE IS $3.2 BILLION : RUPERT'S WORLD.Byline: Gregory J. Wilcox Daily News Staff Writer By any accounting standard Rupert Murdoch is rich. Media baron, global empire scion sci·on n. 1. A descendant or heir. 2. also ci·on A detached shoot or twig containing buds from a woody plant, used in grafting. , kind of rich. There are few places on the planet where someone could read a book, magazine or newspaper or watch a movie or television show without contributing to Murdoch's bottom line. He's boxed the compass with his bank balance. Murdoch controls an eclectic enterprise, Sydney, Australia-based News Corp. Ltd., whose holdings include the Rural Post in Queensland, Australia, and the New York Post The New York Post is the 13th-oldest newspaper published in the United States and the oldest to have been published continually as a daily.[3] Since 1976, it has been owned by Australian-born billionaire Rupert Murdoch's News Corporation and is one of the 10 in Manhattan; the Times of London and News of the World in Great Britain; and TV Guide and the Times Scottish Educational Supplement. He's even carried the fight for media supremacy to the final frontier through News Corp.'s acquisitions of satellite broadcast systems. But only Murdoch, his accountants and the tax man know the true bottom line. Forbes magazine, which tracks the fortunes of super rich, estimates Murdoch's wealth at $3.2 billion based on a News Corp. stock price in the 20-7/8 range last August. Murdoch's family owns a 31 percent stake in News Corp., so the fortune rises and falls Rise and Fall redirects here. For the Belgian hardcore band, click here. Rises and falls is a category of the ballroom dance technique that refers to rises and falls of the body of a dancer achieved through actions of knees and feet (ankles). with the stock's performance. Lately it's been sinking. News Corp.'s stock price fell from a recent high of 21-7/8 in late February to 17-1/4 in late May. Then it rebounded to the $18 range. It closed Monday at 18-7/8, up -7/8. The drop came in response to Murdoch's failed attempt to acquire the EchoStar direct broadcast system. Peter Newcomb, an editor at Forbes magazine, said the stock drop has driven Murdoch's fortune down to about $2.85 billion. ``We know he has at least $100 million to $120 million in assets outside News Corp. stock,'' he said. His salary, though, is a matter of speculation. While News Corp. is a public company, it is incorporated in Australia where the disclosure rules regarding executive pay are not as liberal as those in the United States. U.S. rules require public companies to file proxy statements that list compensation packages for top executives. It is much different in Australia. News Corp.'s 1996 financial report for the fiscal year ended June 30 lists compensation ranges for the company's top directors and executives but does not identify them by name. It simply lists the number who are being paid within a specific salary range. One of them earned between $8.79 million and $8.799 million in Australian dollars during 1996. Was it Murdoch? News Corp. officials won't say. Keelin Kavanagh, a company spokeswoman, declined to provide any information beyond what is in the financial report. But it is not really unusual for companies, foreign and domestic, to blur the contents of their top bosses' pay envelopes, said Graef S. Crystal, an executive compensation expert and publisher of the Crystal Report, which examines salary issues. ``Industry plays the most dishonest game in this area,'' he said. Since Murdoch is News Corp.'s top guy it would be easy to assume he draws the biggest paycheck. Crystal isn't so sure that is the case. ``If I had to bet it would be that he doesn't pay himself very much,'' Crystal said. ``He's not a regal guy.'' Crystal bases this assumption on a close encounter he had with Murdoch in the mid-1980s when he was a consultant to Barry Diller, at the time head of Twentieth Century Fox and a News Corp. subsidiary. ``I was giving Diller a presentation and he said that Rupert was in town and not to be surprised if he showed up, just keep on talking,'' Crystal recalled. ``Well, he (Murdoch) slipped into the meeting in his shirt sleeves, listened for a while, asked me a couple of questions, shook my hand and left.'' Murdoch's style, Crystal notes, is more along the lines of Warren Buffet or Bill Gates, both wealthy businessmen who pay themselves modest salaries. ``He probably pays himself more in the Buffet mold, $300,000 to $500,000 and no options. They are worth so much they can say they don't need anymore and in that sense they are a terrific buy for the shareholders,'' Crystal said. Again, this is just a guess. Forbes' Newcomb concurs that Murdoch could take home a relatively modest paycheck because he realizes about $7 million a year in dividend payments. But he's not hurting for cash. ``Rupert travels well and he lives well,'' Newcomb said. News Corp. owns a company jet, which puts the far-flung empire within easy reach. But Murdoch did not order one until he arrived at Aspen's airport in the late 1980s only to discover that his studio head Diller had beaten him into town in his own private jet. He also bought a 158-foot yacht called Morning Glory morning glory, common name for members of the Convolvulaceae, a family of herbs, shrubs, and small trees (many of them climbing forms) inhabiting warm regions, especially the tropics of America and Asia. The family is characterized by milky sap. . Murdoch's real estate holdings are a bit more extensive, including homes on three continents. The family's primary residence now is a Spanish-style hilltop home in Beverly Hills. He also has a sprawling ranch in Carmel, a vacation home Vacation Home A home separate from an individual's primary residence that is used for recreational purposes and may also be rented out at unused times. Notes: For tax purposes, those who rent their vacation homes may result in a lower amount of allowable expense in Aspen that has a swimming pool in the living room, and a 2,800-sheep ranch in Australia. Corporate acquisitions, though, can sometimes seem to be impulse buys. Murdoch once paid $525 million for a 64 percent stake in the Asian Star satellite system without getting permission from News Corp.'s board. Not a surprise, notes Arthur Rockwell, an analyst who follows News Corp. for Yeager Capital Investments in Los Angeles. ``Rupert runs it like an autocrat so there is nothing surprising,'' Yeager said. If you read or watch something, chances are you are contributing to media mogul Rupert Murdoch's bottom line. He's a roundup of his vast holdings: Television United States Fox Broadcasting Co. Fox Entertainment Fox Childrens Networek Fox Sports Fox Television Stations The Fox Television Stations (FTS) are a group of television stations located throughout the United States which are owned-and-operated by the Fox Broadcasting Company. FTS also produces the Fox program COPS. WNYW WNYW What New Yorkers Watch (television station in New York City) - New York, N.Y. KTTV - Los Angeles WFLD - Chicago WTXF - Philadelphia, Pa. WFXT - Boston, Mass. WTTG - Washington, D.C. KRIV - Houston, Tex. KDVR - Denver KSTU KSTU Kazan State Technological University (Russia) KSTU Krasnoyarsk State Technical University (Russia) KSTU Kursk State Technical University (Russia) - Salt Lake City WHBQ - Memphsis WGHP - Greensboro, N.C. WBRC WBRC Western Beef Resource Committee (Idaho) - Birmingham, Ala. New World Television Stations KDFW KDFW Dallas/Ft. Worth International Airport - Dallas WJBK - Detroit WAGA WAGA Western Amputee Golf Association WAGA Western Action Group on AIDS WAGA Western America Golf Association WAGA Williamsburg Area Golf Association (Williamsburg, Virginia) - Atlanta, Ga. WJW WJW Washington Jewish Week - Cleveland WTVT - Tampa KSAZ - Phoenix KTVI - St. Louis WITI (Women In Technology International, Sherman Oaks, CA, www.witi.com) An organization dedicated to the professional development of women in science and technology, founded in 1989. It supports regional chapters and conferences and provides ongoing opportunities for information exchange, - Milwaukee WDAF WDAF Western Desert Air Force - Kansas City, Mo. KTBC - Austin, Tex. Australia Seven Network (15% stake) Japan Obunsha (50% stake) TV Asahi (21.4% stake) Cable and Satellite Television United States ASkyB (50% stake) FOX/Liberty Media joint venture (50% stake) Fox Sports Net (9 regional cable sports channels) fX Fox Sports International Fox Sports International is an international sports programming and production entity housed within the Fox Networks Group, one of the major operating units within Fox Entertainment Group and News Corporation. Fox Kids Worldwide (50% stake) Fox News Channel fXM: Movies from Fox United Kingdom British Sky Broadcasting British Sky Broadcasting (BSkyB — formerly two companies, Sky Television and BSB) is a company that operates Sky Digital, a subscription television service in the UK and the Republic of Ireland. It produces TV content, and owns several TV channels. (40% stake) Sky Multi-Channels (21 channels including the following in which BSkyB has an economic interest) Sky One Sky News Sky Soap Sky Travel Nickelodeon U.K. (50% stake) The History Channel (50% stake) Paramount (25% stake) QVC QVC Quality Value Convenience QVC Question Valid Command (20% stake) Premium Channels Sky Movies The Movie Channel Sky Sports Premium Bonus Channels Sky Movies Gold Sky Sports 2 Sky Sports 3 Germany Vox (49.9% stake) DF1 joint venture (49% owned by BSkyB) Latin America Sky Entertainment Services (-30%) Canal FOX Australia FOXTEL (50% stake. 31 channels in which FOXTEL has an economic interest) Arena (50% stake) FOX Fox History Fox Soap Fox Talk Fox Travel FOXTEL Weather fX Nickelodeon (25% stake) red (50% stake) thecomedychannel (40% stake) UK TV (50% stake) FOX Sports (50% owned by by News Corp.) Sky News Australia Sky News Australia is an Australian 24 hour cable and satellite news channel available on Foxtel, Austar, Optus Television and Neighbourhood Cable subscription platforms. The channel is owned by Publishing and Broadcasting Limited, the Seven Media Group, and British Sky (33-1/3 stake owned by News Corp.) Sky Channel (50% stake) Asia STAR TV STAR Chinese Channel STAR Chinese Channel is the Mandarin general entertainment channel in Taiwan. Its programing features drama, news, lifestyle, and talk shows in Mandarin. History Star Chinese Channel was launched in 1991. One of the five original channels of STAR TV. STAR Plus STAR Sports Channel (V) (50% stake) Pay Channels STAR Movies STAR Plus Japan Viva Cinema (50% stake) Asia Today Ltd. (50% stake) ZEE TV ELTV Pay Channels ZEE Cinema Phoenix Satellite Television Co. Ltd. (45% stake) Phoenix Chinese Channel Japan JSkyB (50% stake) Filmed Entertainment United States Fox Filmed Entertainment Twentieth Century Fox Fox 2000 Fox Searchlight Fox Family Films Fox Animation Studios Fox Animation Studios was a short-lived traditional animation studio, a division of 20th Century Fox, headed by Don Bluth and Gary Goldman. The department was designed to compete with Walt Disney Feature Animation, which had phenomenal success in the early-1990s with the releases Twentieth Century Fox Home Entertainment Twentieth Century Fox Television Australia Fox Studios Australia Book Publishing United States, United Kingdom & Australasia HaperCollins Publishers Newspapers United States New York Post United Kingdom The Times The Sunday Times The Sun News of the World Australasia National The Australian New South Wales New South Wales, state (1991 pop. 5,164,549), 309,443 sq mi (801,457 sq km), SE Australia. It is bounded on the E by the Pacific Ocean. Sydney is the capital. The other principal urban centers are Newcastle, Wagga Wagga, Lismore, Wollongong, and Broken Hill. The Daily Telegraph The Sunday Telegraph Sportsman Cumberland Newspaper Group (20 various titles -Sydney suburbs and regional) Victoria Herald Sun The Weekly Times The Sporting Globe Leader Newspaper Group (30 various titles - Melbourne suburbs and regional) Queensland The Courier-Mail (41.7% stake) The Sunday Mail (41.7% stake) Gold Coast Bulletin Group (41.7% stake) Gold Coast Bulletin Gold Coast Sun Hinterland Sun The Cairns Cairns, city (1991 pop. 64,463), Queensland, NE Australia, on Trinity Bay. It is a principal sugar port of Australia; lumber and other agricultural products are also exported. The city's proximity to the Great Barrier Reef has made it a tourist center. Post Group (41.7% stake) The Cairns Post Tablelands Advertiser Pyramid News Douglas Times Northern Beachcomber Travel Cairns Rural Post North Queensland Newspaper Group Townsville Bulletin (8 regional titles) Quest Community Newspapers Quest Community Newspapers is a newspaper company in Stafford, Queensland, Australia that is owned and operated by Rupert Murdoch's News Corporation. It currently publishes weekly tabloid newspapers, and one bi-weekly, providing news coverage predominately for the greater (17 titles in Brisbane region) Northern Territory Northern Territory News Sunday Territorian Centralian Advocate The Suburban Tasmania The Mercury The Sunday Tasmanian Tasmanian Country Treasure Islander Derwent Valley Gazette South Australia The Advertiser Messenger Press Group (11 titles in the Adelaide suburbs) Western Australia Sunday Times New Zealand Independent Newspapers Ltd. (125 daily, weekly and suburban newspapers in New Zealand This is a list of newspapers in New Zealand. Dailies
and the United States) Fiji The Fiji Times Nai Lakakai (Fijian language) Shanti Dut (Hindi language) Papua New Guinea Papua New Guinea (păp`  ə, –y Post Courier (63% stake) Magazines and Inserts United States TV Guide The Weekly Standard News America FSI FSI Foreign Service Institute FSI Fluid Structure Interaction FSI Fuel Stratified Injection FSI Federazione Scacchistica Italiana (Italian Chess Federation) FSI Free Standing Insert FSI Flight Simulator News America In-Store Canada News FSI Canada Coupon Clipper Plan and Save United Kingdom The Times Educational Supplement The Times Literary Supplement The Times Scottish Educational Supplement Australasia Pacific Islands Monthly Pacific Magazine & Printing (18 weekly and monthly magazines in Australia, New Zealand and Europe. 24 commercial printing plants in Australia, New Zealand and Asia) Technology United States iGuide Kesmai Corp. News Advanced Technologies News Internet Services United Kingdom Delphi Creative News Digital Systems Ltd. Digi-Media Vision Ltd. News Datacom Ltd. News Eye Q (50% stake) News Multimedia Ltd. Australasia News Interactive PDN (1) (Packet Data Network) See packet switching. (2) (Premises Distribution Network) The network that connects a customer's ADSL transceiver (ATU-R) to the Service Modules (PCs, routers, set-top boxes, etc.). See DSL. Xinren Information Technology Co. Ltd. (50% stake) Other Operations United States News America New Media Australasia Ansett Australia (50% stake) Ansett New Zealand Ansett New Zealand was a wholly owned airline subsidiary of Ansett Australia, serving the New Zealand domestic market between 1987 and 2000. In order to comply with regulatory requirements relating to the acquisition of Ansett Australia by Air New Zealand, Ansett New Zealand was (50% stake) Australian Newsprint Mills Australian Newsprint Mills Ltd. was formed in Hobart, Tasmania in 1938, and a newsprint mill, Australia's largest, built on the River Derwent at Boyer. An Albury, New South Wales mill was established in 1981. (46.2% stake) Broadsystem (Australia) Circular Distributors, New Zealand (26% percent stake) Computer Power (20% stake) Festival Records F.S. Falkiner & Sons Lanray Industries (41.7% stake in Sunshine Plandation) Mushroom Records (50% stake) Super League United Kingdom Broadsystem Ltd. Convoys Group Sky Radio (71% stake) Source: News Corp. 1996 annual report. (Fiscal year ends June 30 so this is the most current compilation of Murdoch's worldwide holdings. It does not include 1997 pending acquisitions such as International Family Entertainment, Heritage Media and the Los Angeles Dodgers "Dodgers" and "Brooklyn Dodgers" redirect here. For the American football team, see Brooklyn Dodgers (football). For the Eastern Basketball Association team, see Brooklyn Dodgers (basketball). .) CAPTION(S): box BOX: Rupert's World (see text) |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion