John Kluge Quotes

John Werner Kluge was born in Chemnitz, Germany. He was an American businessman. He was best known as a television industry mogul in the United States. He earned a BA degree in economics from Columbia University in 1937. He began building his media empire by acquiring radio stations in major cities such as Dallas, Pittsburgh, and St. Louis; he also purchased, for $4 million, the Paramount stock in the Metropolitan Broadcasting Co., which he later renamed Metromedia. He made a profit by keeping operating expenses low and by broadcasting old TV sitcoms and B movies. In 1984 he privatized the company and shortly thereafter sold his TV stations to Rupert Murdoch for some $2 billion, giving rise to the FOX network. In his later years he donated much of his fortune to numerous charities, including more than $500 million to Columbia.