Twenty-First Century Fox 2006 Annual Report Download - page 129

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News Corporation
Notes totheConsolidated Financial Statements (CONTINUED)
Notes to Supplemental Guarantor Information
(1) Guarantors consist of the Company and the following subsidiaries:
Subsidiaries Jurisdiction of Incorporation Principal Business
News Australia Holdings Pty Ltd Australia Wholly-owned subsidiary of News
Corporation, which holds all of the
stock of News Holdings Limited
(formerly known as The News
Corporation Limited).
News Publishing Australia Limited Delaware, USA U.S. holding company, which owns
100% of NAI.
FEG Holdings, Inc. Delaware, USA Wholly-owned subsidiary of NAI.
News America Marketing FSI, L.L.C. Delaware, USA Publishes free-standing inserts.
Fox Entertainment Group, Inc. Delaware, USA Wholly-owned subsidiary of News
Corporation, principally engaged in
the development, production and
worldwide distribution of feature
films and television programs,
television broadcasting, and cable
network programming.
(2) Investments in the Company’s subsidiaries, for purposes of the supplemental consolidating presentation, are
accounted for by their parent companies under the equity method of accounting whereby earnings of subsidiaries are
reflected in the parent company’s investment account and earnings.
(3) The guarantees of NAI’s senior public indebtedness constitute senior indebtedness of each of the guarantors thereto,
including the Company, and rank pari passu with all present and future senior indebtedness of such guarantors. Because
the factual basis underlying the obligations created pursuant tothevarious facilities and other obligations constituting
senior indebtedness of the Company and the guarantors of NAI’s senior public indebtedness, including the Company dif-
fer, it is not possible to predict how acourt in bankruptcy would accord priorities among the obligations of the Company
and its subsidiaries.
ANNUAL REPORT 129