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ABSTRACT FOR MEDIA MANAGEMENT: NEWS CORPORATION AND ITS FUTURE News Corporation was founded by Rupert Murdoch

in the year 1979; News Limited was created by Murdoch from the assets he inherited in 1952 following the death of his father, Sir Keith Murdoch, and subsequent expansion. The main asset left to him was ownership of the Adelaide afternoon tabloid, The News. News Corporation is the 2nd largest media conglomerate after BBC( British Broadcasting Corporation). It owns more than 100 channels both in electronic and print media. News Corporation became famous in 2011 after the scandal over various matters coming up. The News Corporation scandal developed in mid-2011 out of a series of investigations following up the News of the World royal phone hacking scandal of 20052007. Where initially the scandal appeared contained to a single journalist at News Corporation subsidiary News of the World, with the 2007 jailing of Clive Goodman and the resignation of then editor Andy Coulson, investigations eventually revealed a much wider pattern of wrongdoing. This led to the closure of the News of the World on 10 July 2011, an apology by Rupert Murdoch in an advertisement in most British national newspapers, and the withdrawing of News Corporation's bid to take over the majority of BSkyB shares it did not own. However, investigations continued into what the company and individuals at the company knew of the phone hacking and when, as well as into other issues, including questions around police bribery.

News Corporation has been operational since many years and it gained its credibility on the basis of its news. The 2011 scandal made News Corporation loses all its credibility in the view of the audience. Dailies like The Sun, and News of The World closed down for reasons pertaining issues like bribery and hacking over the Royal family.

In this project, I will focus on the fact that a conglomerate how it can help the media to rejuvenate from its own ashes and thus providing a better image for the other newspapers. I will concentrate on the print media side. The recovery of News Corporation is still on the make and will take greater time. I will also focus on the fact of how these newspapers have impacted the audience and how its reputation has been lost in a blink of time.