NEWS CORP. READY TO ENTER GOLF MAGAZINE MARKET IN 2000

          News Corp. "has committed to spend about" $20M to
     launch a new, 350,000 circulation golf magazine next spring
     led by former Details Editor Michael Caruso, according to
     Matthew Rose of the WALL STREET JOURNAL.  Although "still in
     the planning stages," the magazine is "eschewing the how-to
     articles of other titles," and Caruso is planning a
     "younger, hipper" golf publication to attract "advertising
     from fashion companies and luxury-goods makers."  The move
     "marks the beginning of News Corp.'s re-entry into the
     consumer-magazine market," as it sold many of its titles in
     the '90s.  Lachlan Murdoch will lead the new division, and
     he "expects to launch four new titles in the coming year." 
     He hopes to use "the golf magazine to generate content" for
     The Golf Channel, which News Corp. has a 40% stake in, and
     for Fox Sports. Caruso says that the new title will "impinge
     on the territory of the classic men's magazine with articles
     on cigars, fashion and cars" (WALL STREET JOURNAL, 11/15).