News Corporation (NYSE:NWS) is a diversified broadcast and print media company whose subsidiaries include the Fox Broadcasting Company, Twentieth Century Fox, MySpace, SKY Italia, Dow Jones & Company, The Wall Street Journal and Barron's.
News Corp receives over a third of its revenues from advertising and, therefore, stands to lose significantly from a reduction in overall advertising spending, which is highly correlated with economic booms and recessions. The company also receives nearly half of its revenues from outside the United States and this international exposure shielded the company from the full effects of the credit crunch and financial crisis. Along with a host of smaller competitors, News Corp competes with a number of large media conglomerates like Time Warner, The Walt Disney Company, CBS and Viacom.
After the company acquired popular social network MySpace in 2005, MySpace lost its top ranking in social networking sites to Facebook. In March 2010, a rumor began circulating that MySpace's struggles have News Corp frantically trying to sell the site for approximately $700 million.
And what you proove this gem is that there is no fast farword. And this is what I like most. Some things will last, no matter how far we drive by. NO matter how far time flies by. It's still there. Still looking great.All the best & safe travels,Fritsch.