High Quality Content by WIKIPEDIA articles! Rupert Murdoch inherited the Adelaide News in 1952 following the death of his father, Sir Keith Murdoch. This paper has been described by Bruce Page as the "foundation stone" of News Ltd (and News Corp). Over the next few years, Murdoch gradually established himself as one of the most dynamic media proprietors in Australia, quickly expanding his holdings by acquiring a string of daily and suburban newspapers in most capital cities, including the Sydney afternoon paper, The Daily Mirror, as well as a small Sydney-based recording company, Festival Records. His acquisition of the Mirror proved crucial to his success, allowing him to challenge the dominance of his two main rivals in the Sydney market, the Fairfax Newspapers group, which published the hugely profitable Sydney Morning Herald, and the Consolidated Press group, owned by Sir Frank Packer, which published the city's leading tabloid paper, the Daily Telegraph.

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