To many Rupert Murdoch is the very model of a modern media mogul. The fact that the company he runs, News Corp. (NWS), released its third quarter results with increased revenue of 16% to $8.8 billion, only solidifies his claim to such a title.

But just what is News Corp., anyway? Not just a newspaper company, that's for sure. In fact, MainStreet bets you know more about News Corp. than you think you do. Here's a look at what Murdoch's company owns:

NEWSSTANDS
In December, News Corp. finalized a deal with Dow Jones and became owner of The Wall Street Journal and Barron's. Nothing new for the self-described “newspaper man,” Murdoch, who entered the media world in the 1950s when he inherited Australia's News Limited. In the ‘70s, he launched gossip rag Star newspaper, which was later sold and became Star magazine (which is now owned by American Media). Today, News Corp publishes more than 110 newspapers worldwide, including the tabloid New York Post, and its infamous Page Six gossip column.

NETWORK TV
Still bringing in viewers, the Fox television division of News Corp is considered a leading contributor to the company's revenue increase, according to Larry Witt, an analyst for Morningstar. Reality juggernaut American Idol is still one of the highest rated programs. On May 7, for example, Idol pulled in 22 million people, off 6 million viewers from last year, but still an impressive figure at a time when television viewership is down following the writer's strike. Meanwhile one of Fox's original hits, The Simpsons, which is in season 19, brings in around six million viewers on Sundays.

MOVIES
Operating profits were down 36% for filmed entertainment. Think Pathfinder. But, that is not to suggest that Murdoch's movie division can't hit a home run. In 2007 Fox Searchlight production company's Juno, which grossed more than $220 million world wide, also won an Oscar for Best Original Screenplay. Also, last year’s Simpson film did more than $500 million in ticket sells worldwide.

BOOKS
In the period ending September 30, 2007, HarperCollins saw sales fall 11.5%. “It was a lousy quarter,” acknowledged CEO Jane Friedman in Publishers Weekly. “We knew things were going to be down, but we didn’t think they’d be down this much.” Friedman cites losses in the children’s segment for declining revenue. Another possible reason for the decline? The loss of Judith Regan, the head of ReganBooks, a successful imprint of Harper Collins, who was fired in December 2006. Regan supplied salacious pop culture books, such as Jenna Jameson's “How to Make Love Like a Porn Star” and Jose Canseco's steroid expose “Juiced.” In an attempt to boost profits, HarperCollins began to offer some books online. The success of such ventures has yet to be seen.

ONLINE
For Fox Interactive Media, which owns MySpace, growth of 55% was a “disappointment” states Witt, the Morningstar analyst. While the social networking Web site has a larger audience than competitor Facebook it is still a challenge "measure success in terms of social networking in general,” says Juliette Powell, a social networking expert. Page views aren’t cutting it and Myspace is pushing higher engagement because people stay on the pages longer, says Powell. If a social networking websites has a limited life span (remember Friendster?), how will News Corp be impacted?

CABLE TV
Fox News Channel was a major part of increased revenue, too. “The largest contributor to internal revenue growth this quarter was networks, which grew 27%, fueled by strong ratings on the Fox News Channel because of coverage of the presidential primaries,” states Witt.

So, you probably use News Corp. products more than you thought. Should you own the stock, too? Morningstar gives the company 5 stars, its highest ratings, but the stock is not currently at the $21.30 value to “consider buying.” (News Corp. (NWS) opened today at $19.53.) Morningstar attributes the reported profits to the Super Bowl, political coverage, and lower programming costs because of the strike by the Writers Guild of America. What happens in 2009 when the Super Bowl airs on NBC (GE), the election ends, and a full year's worth of scripted programming must be paid for? You can be sure Mr. Murdoch is wondering along the same lines, and making a plan.