Twenty-First Century Fox 2007 Annual Report Download - page 108

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NEWS CORPORATION
Notes to the Consolidated Financial Statements (continued)
Note 17 Other, Net
The following table sets forth the components of Other, net included in the accompanying consolidated statements of operations:
2007 2006 2005
For the years ended June 30, (in millions)
Gain on sale of Sky Brasil(a) $261 $— $—
Gain on sale of Phoenix Satellite Television Holdings Limited(a) 136 — —
Termination of Participation rights agreement(b) 97 — —
Gain on sale of Innova(a) — 206 —
Gain on sale of China Netcom Group Corporation(a) —52—
Loss on sale of RPP(b) — — (85)
Loss on sale of Sky Multi-Country Partners(a) — — (55)
Gain on sale of Rogers Sportsnet(a) —— 39
Change in fair value of Exchangeable securities(c) (126) (76) 246
Other (9) 12 33
Total Other, net $ 359 $194 $178
(a) See Note 6—Investments.
(b) See Note 3—Acquisitions, Disposals and Other Transactions.
(c) The Company has certain outstanding exchangeable debt securities which contain embedded derivatives. Pursuant to SFAS
No. 133, these embedded derivatives are not designated as hedges and, as such, changes in their fair value are recognized in
Other, net. A significant variance in the price of the underlying stock could have a material impact on the operating results of
the Company. See Note 10—Exchangeable Securities.
NEWS CORPORATION 2007 Annual Report 107