Rupert Murdoch, the founder and the major shareholder of the world’s largest multinational media group, has become a dominant subject in the research of media power. The interlocking of his ideological values and commercial purposes plus his constant effort of “de-regulation” since the 1980s has given to the rise of a huge media empire which reaches out to the whole world. In the internet age, Murdoch’s media power is weakened by the challenges imposed on neo-liberalism and the entry of new players in this industry. Nevertheless, his conservative knowledge production system that he has long developed secures his involvement in the formulation and revision of policies and laws. Therefore, a new look at Murdoch’s media power from the perspective of knowledge construction and idea production sheds lighter on the control of capitalist media power on ideology and advances the transformation of global media governance system in the digital context.