The Fox Film Company was started in 1915 by William Fox, a poor Hungarian immigrant, and established their West Coast studio in 1917. After losing most of his money in the Wall Street Crash, Fox's company merged with 20th Century in 1935 to become 20th Century Fox. The studio saw great success in the Golden Age under Daryl Zanuck and with films like The Sound of Music, but declined with new laws and the rise of television. It is now owned by Rupert Murdoch, who uses it to promote his large media empire.