Rupert Murdoch

Rupert Murdoch founded The Australian in 1964 as a bold statement or his belief that this country needed a quality national daily newspaper. His action was based on a nation-building vision that he shared with the leader or the Country Party, John McEwen, who deeply influenced him at that time.

For twenty years, The Australian lost money, a strange anomaly in the life of its ruthlessly commercial owner. In a 1994 address to the free-market thinktank, the Centre for Independent Studies, Murdoch mentioned these losses but argued that some things were more important than short-term profits – ideas in society. He went on to quote John Maynard Keynes’s famous lines about the significance of political and philosophical ideas to men who regarded themselves as supremely practical. In the media business, ‘we are all ruled by ideas’, Murdoch added.

Rupert Murdoch certainly attracts a good class of biographer. There was George Munster, who contributed so much to Australian politics and culture by helping to establish and edit Nation, and William Shawcross, one of Britain’s most prominent journalists. There were other biographies, too, before the efforts of Bruce Page ...

In the last week of June, after a period in the doldrums, the News Corporation share price suddenly took wing again. Buyers piled in. A lazy few hundred million dollars were added to the company’s value. The basis of the revaluation? Apparently, Rupert Murdoch himself had descended from Olympus to participate in a presentation to sharebrokers in Sydney. Enraptured at this visitation, analysts had upped their profit projections for News.

One of the truly astonishing accounts to emerge in Munster’s account concerns another US president, John F. Kennedy, whose press secretary, Pierre Salinger, forged a cable in Murdoch’s name to kill a Murdoch report of an off-the-record talk he had with the president. The cable, sent through State Department channels, was signed ‘Murdoch’.