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Media moguls dip on Forbes list

Media billionaires' fortunes declined in 2001, according to Forbes magazine's new listing of the world's richest
people.

Microsoft COrp.'s Bill Gates still heads the list with $52.8 billion -- a fortune
that has been in steady decline since 1999, when it topped out at $90 billion.

Electronic media moguls make their first appearance at
No. 20: John Kluge, who founded Metromedia International Group Inc., is worth $10.5 billion. Kluge's well-diversified fortune has
taken a minimum hit -- it was worth $10.9 billion last year.

Metromedia is now a part of Fox Broadcasting Co., owned by Rupert Murdoch's News
Corp.

Murdoch comes in
at No. 45 this year with a $5.7 billion fortune.

In 2000, Murdoch came in at No. 39 with $7.8 billion.

The Cox sisters, Barbara Cox Anthony and Anne Cox Chambers,
again this year come in at No. 21, each worth $10.1
billion.

Cox Communications Inc., headquartered in Atlanta, owns Cox Broadcasting,
Cox Cable and other media properties.

Viacom Inc. chairman Sumner Redstone appears at No. 32 with $8.1 billion. That's
a big drop for Redstone, who beat out both Kluge and the Coxes last year with
$12.6 billion and a spot at No. 18.

EchoStar Communications
Corp. CEO Charlie Ergen shows up at No. 42 with $6.2 billion.

Last year, Ergen tied then-Time Warner Inc. vice Chairman Ted Turner at No.
35.

Each had $8.8. billion fortunes. Turner's value dropped dramatically in 2002
-- he showed up at No. 97 and is worth $3.8 billion.

Other media moguls to appear on the list: 

     #55: Donald and Samuel I.
Newhouse
     #72: the new mayor of New York,
Michael Bloomberg ($4.4 billion)
     #87: DreamWorks SKG
executive David Geffen ($4 billion).

Contributing editor Paige Albiniak has been covering the business of television for nearly 25 years. She is a longtime contributor to Next TV, Broadcasting + Cable and Multichannel News. She concurrently serves as editorial director for entertainment marketing association Promax. She has written for such publications as TVNewsCheck, The New York Post, Variety, CBS Watch and more. Albiniak was B+C’s Los Angeles bureau chief from September 2002 to 2004, and an associate editor covering Congress and lobbying for the magazine in Washington, D.C., from January 1997-September 2002.