who is the parent company of fox news
Fox News In May 1985, Australian publisher Rupert Murdoch announced that he and American industrialist and philanthropist Marvin Davis intended to develop "a network of independent stations as a fourth marketing force" to compete directly with CBS, NBC, and ABC through the purchase of six television stations owned by Metromedia.[17] In July 1985, 20th Century Fox announced that Murdoch had completed his purchase of 50 percent of Fox Filmed Entertainment, the parent company of 20th Century Fox Film Corporation.[18] A year later, 20th Century Fox earned $5.6 million in its fiscal third period ended May 31, 1986, in contrast to a loss of $55.8 million in the third period of the previous year.[19]
Television news in the United States The advent of cable television in the United States led to the eventual birth of cable news. On June 1, 1980, Ted Turner launched CNN, the first 24-hour cable news operation. The station gained reputation significantly with its 1991 coverage of the Gulf War.