News Corp., the owner of The Wall Street Journal, Fox News, and the New York Post, saw its stock gain nearly ten percent in the first half of 2011. The 20th Century Fox movie studio remains a powerhouse, despite the lack of an Avatar-like phenomenon. The company controls valuable content properties and hasn’t been shy about asserting itself in the growing retransmission wars. News Corp. Chairman Rupert Murdoch has insisted content remains at the core of the media business, and he has personally spearheaded The Daily, the company’s tablet-based newspaper. The company finally dispensed with MySpace, which had become an albatross around its neck. But the $19 billion bid to take full control of BSkyB (NYSE: BSY) may be in jeopardy, thanks to the exploding digital hacking and police payments scandal at News of the World, which is operated by company subsidiary News Int. In an effort to contain the damage, News Corp. said it would close the paper.
NWS: +9.2 percent
February 29, 2012 at 600 × 401 in Mid-Year Media Stock Review: Content Trumped Tech in First Half of 2011