The News Corporation is a reputed organization related to mass media. They are also popularly known as News Corp. The company came into being under Rupert Murdoch in 1979. With course of time, they have evolved to offer several services related to television, cable network programs, film entertainment, direct broadcast systems through satellite television and even publishing. In 2003, the company was able to acquire 34% share in former Huges Electronics or DirecTV Group. However, in 2008, Liberty Media took over DirecTV. In 2005, News Corporation announced to buy the group of Fox Entertainment. The company even acquired MySpace, an online social networking website for $580 million.