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IN GENERAL: The New Establishment is headin’ south. Wal-Mart, based in Benton-ville, Arkansas (pop. 25,600), is the world’s largest company in terms of revenue, and it has a market capitalization greater than Time Warner, Disney, News Corp., and Viacom combined. Its sales make up an astonishing 2.3 percent of U.S. G.N.P., and in addition to selling everything from groceries to computers, it’s the nation’s dominant peddler of cultural products. Scott, 55, who has spent a quarter-century at Wal-Mart and became president and C.E.O. in 2000, propagates the folksy homespun image inspired by its founder, Sam Walton, of a company that creates jobs and brings low-cost goods to people who need them most. But in the past year it has mostly been defending itself about everything from where it puts its stores to whether it knew that illegal immigrants cleaned them, plus unions have been campaigning aggressively to try to woo the company’s “associates” to join them. (Wal-Mart continues to hold a hard line against its workers joining unions.) Nonetheless, Wal-Mart reported record sales and earnings in its latest results and continues to open new outlets both at home and abroad. In total, there are some 3,500 Wal-Mart stores, Supercenters, and Sam’s Clubs in the U.S. Scott staunchly defends the conservative company’s practice of not selling CDs, DVDs, or magazines that it deems unseemly for public consumption, and has added a new element to Wal-Mart’s cultural influence by distributing Time Inc.’s new magazine, All You.
STAGE OF GLOBAL CONQUEST: With DirecTV finally under his control, Murdoch’s News Corp. is the biggest pay-television company in the world, with 27 million subscribers, through which he funnels content from his TV networks and channels and promote his newspapers, movies, and books.
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