Twenty-First Century Fox 2011 Annual Report Download

Download and view the complete annual report

Please find the complete 2011 Twenty-First Century Fox annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 106

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106

Annual Report 2011

Table of contents

  • Page 1
    Annual Report 2011

  • Page 2

  • Page 3
    Our business has never been stronger.

  • Page 4
    We have never been more excited about our future.

  • Page 5

  • Page 6
    ... a critical step toward securing fair market value for our top-rated, free-to-air network - Fox Broadcasting Company - as well as for our ever-growing stable of cable channels. At the same time, we increased our ownership in Sky Deutschland - Germany's premiere pay-TV platform - and saw substantial...

  • Page 7
    ... of Shine Limited. In Shine, we have not only bought a strong business, we have also brought into our Company a creative team with an outstanding track record of hit shows and new formats. In a rapidly consolidating global television industry, Shine will be a key part of our expansion strategy...

  • Page 8
    ... Idol, which saw 5 percent viewership increases. FOX Sports remained number one for the fourteenth consecutive year. In February, we made history when the Super Bowl on FOX became the most-watched U.S. television program ever, with an average audience of 111 million viewers. 6 News Corporation

  • Page 9
    ...more opportunity to profit not only from growth in international markets, but also from the roll-out of new electronic distribution technologies everywhere. One of the brightest spots in this segment was our television production business. Here we outperformed our expectations - led by results from...

  • Page 10
    ... this content to new platforms, all while developing new business models to support these new consumer experiences. Issues Surrounding News of the World As has been widely publicized, our Company has received a major black eye from the phone hacking scandal at our News of the World newspaper...

  • Page 11
    ... every area where we compete ...and at all times to be guided by our most fundamental belief that the combination of free speech and free markets is the most effective guarantee of a free society. Sincerely, Rupert Murdoch Chairman and Chief Executive Officer News Corporation 2011 Annual Report 9

  • Page 12
    ... the fiscal year end. The total dividend declared related to fiscal 2011 results was $0.17 per share of Class A Common Stock and Class B Common Stock. The total dividend declared related to fiscal 2010 results was $0.15 per share of Class A Common Stock and Class B Common Stock. 10 News Corporation

  • Page 13
    ... fiscal 2011 presentation. The Company is a diversified global media company, which manages and reports its businesses in the following six segments: • Cable Network Programming, which principally consists of the production and licensing of programming distributed through cable television systems...

  • Page 14
    .... STAR's owned and affiliated channels are distributed in the following countries and regions: India; Greater China; Indonesia; the rest of South East Asia; Pakistan; the Middle East and Africa; the United Kingdom and Europe; and North America. Generally, the Company's cable networks, which target...

  • Page 15
    .... Selling, general and administrative expenses include salaries, employee benefits, rent and other routine overhead. The Company competes with other film studios, such as Disney, Paramount, Sony, Universal, Warner Bros. and independent film producers in the production and distribution of motion...

  • Page 16
    ... the Company formed a joint venture with China Media Capital ("CMC"), a media investment fund in China, to explore new growth opportunities. The Company transferred the equity and related assets of its STAR China business along with the Fortune Star Chinese movie library with a combined market value...

  • Page 17
    ... primarily due to advertising revenues from the Super Bowl which was broadcast on FOX in fiscal 2011, higher pricing resulting from improvements in the advertising markets and higher comparative political advertising due to the 2010 mid-term elections. The revenue increase at 2011 Annual Report 15

  • Page 18
    ...of the Digital Media Group reporting unit's goodwill. As a result of the review performed, the Company recorded a non-cash goodwill impairment charge of $168 million during the fiscal year ended June 30, 2011. As discussed in Note 4 - Restructuring Programs to the accompanying consolidated financial...

  • Page 19
    ...) 2010 Gain on STAR China transaction(a) Loss on disposal of Fox Mobile(a) Loss on early extinguishment of debt(b) Gain on the sale of eastern European television stations(a) Gain (loss) on the financial indexes business transaction(a) Loss on Photobucket transaction(a) Impairment of cost based...

  • Page 20
    ... forth the Company's revenues and segment operating income for fiscal 2011 as compared to fiscal 2010. 2011 For the years ended June 30, 2010 ($ millions) Change % Change Revenues: Cable Network Programming Filmed Entertainment Television Direct Broadcast Satellite Television Publishing Other Total...

  • Page 21
    ... offset by higher NFL programming costs due to the broadcast of the Super Bowl. Direct Broadcast Satellite Television (11% and 12% of the Company's consolidated revenues in fiscal 2011 and 2010, respectively) For the fiscal year ended June 30, 2011, SKY Italia's revenues decreased $41 million...

  • Page 22
    ... ended June 30, 2010 increased 7% as compared to fiscal 2009. The increase was primarily due to increased amortization of production costs and higher participation costs at the Filmed Entertainment segment and higher programming costs at the Television, Cable Network Programming and DBS segments, as...

  • Page 23
    ... Consolidated Financial Statements of News Corporation, the Company determined that it was more likely than not that its News Outdoor and Fox Mobile businesses which are considered reporting units under ASC 350, would be sold or disposed. In connection with such potential sales, the Company reviewed...

  • Page 24
    ...(a) Impairment of cost based investments(b) Change in fair value of exchangeable securities(c) Other Total Other, net (a) See Note 3 to the Consolidated Financial Statements of News Corporation. (b) See Note 6 to the Consolidated Financial Statements of News Corporation. (c) The Company had certain...

  • Page 25
    ... forth the Company's revenues and segment operating income for fiscal 2010 as compared to fiscal 2009. 2010 For the years ended June 30, 2009 ($ millions) Change % Change Revenues: Cable Network Programming Filmed Entertainment Television Direct Broadcast Satellite Television Publishing Other Total...

  • Page 26
    ... of a distribution agreement at the Company's international cable operations in fiscal 2009. These increases were partially offset by a $292 million increase in expenses, primarily due to higher movie acquisition costs, sports rights amortization and original programming costs. Filmed Entertainment...

  • Page 27
    ... Children's division. During the fiscal year ended June 30, 2010, HarperCollins had 164 titles on The New York Times Bestseller List with 19 titles reaching the number one position. For the fiscal year ended June 30, 2010, revenues at the Company's integrated marketing service businesses increased...

  • Page 28
    ... absence of proceeds from the sale of the financial indexes businesses and the majority of the Company's eastern European television stations which were sold in fiscal 2010, cash utilized for the Company's acquisitions of Shine and Wireless Generation in fiscal 2011 and higher capital expenditures...

  • Page 29
    ... share of Class A Common Stock and Class B Common Stock. In August 2010, the Company declared the final dividend on fiscal 2010 results of $0.075 per share for Class A Common Stock and Class B Common Stock. This together with the interim dividend of $0.075 per share of Class A Common Stock and Class...

  • Page 30
    ... to broadcast MLB's World Series and All-Star Game through the 2013 MLB season. Under the Company's contract with NFL, remaining future minimum payments for program rights to broadcast certain football games are payable over the remaining term of the contract through fiscal 2014. 28 News Corporation

  • Page 31
    ... by management of the Company and the related disclosures have been reviewed with the Audit Committee of the Company's Board of Directors. For the Company's summary of significant accounting policies, see Note 2 to the Consolidated Financial Statements of News Corporation. 2011 Annual Report 29

  • Page 32
    ... updates such estimates based on information available on the actual results of each film through its life cycle. License agreements for the broadcast of theatrical and television product in the broadcast network, syndicated television and cable television markets are routinely entered into...

  • Page 33
    ...plans are closed to new participants. For financial reporting purposes, net periodic pension expense (income) is calculated based upon a number of actuarial assumptions, including a discount rate for plan obligations and an expected rate of return on plan assets. The Company considers current market...

  • Page 34
    ... non-callable corporate bonds. The key assumptions used in developing the Company's fiscal 2011, 2010 and 2009 net periodic pension expense (income) for its plans consist of the following: 2011 2010 ($ in millions) 2009 Discount rate used to determine net periodic benefit cost Assets: Expected...

  • Page 35
    ... asset return which reduces the amount of deferred losses recognized in net periodic pension expense as noted above. Recent Accounting Pronouncements See Note 2 to the Consolidated Financial Statements of News Corporation for discussion of recent accounting pronouncements. 2011 Annual Report 33

  • Page 36
    ... of credit risk at June 30, 2011 or 2010 due to the wide variety of customers, markets and geographic areas to which the Company's products and services are sold. The Company monitors its positions with, and the credit quality of, the financial institutions which are counterparties to its...

  • Page 37
    ... Data News Corporation Index To Consolidated Financial Statements Management's Report on Internal Control Over Financial Reporting ...36 Reports of Independent Registered Public Accounting Firm ...37 Consolidated Statements of Operations for the fiscal years ended June 30, 2011, 2010 and...

  • Page 38
    ... Company's principal executive officer and principal financial officer, conducted an assessment of the effectiveness of News Corporation's internal control over financial reporting as of June 30, 2011, based on criteria for effective internal control over financial reporting described in "Internal...

  • Page 39
    ... internal control over financial reporting as of June 30, 2011, based on the COSO criteria. We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the consolidated balance sheets of News Corporation as of June 30, 2011 and 2010...

  • Page 40
    ... 30, 2011, in conformity with U.S. generally accepted accounting principles. We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), News Corporation's internal control over financial reporting as of June 30, 2011, based on criteria...

  • Page 41
    Consolidated Statements of Operations 2011 For the years ended June 30, 2010 2009 (In millions, except per share amounts) Revenues Operating expenses Selling, general and administrative Depreciation and amortization Impairment and restructuring charges Equity earnings (losses) of affiliates ...

  • Page 42
    ...01 par value per share, 3,000,000,000 shares authorized, 798,520,953 shares issued and outstanding, net of 313,721,702 treasury shares at par at June 30, 2011 and 2010, respectively. The accompanying notes are an integral part of these audited consolidated financial statements. 40 News Corporation

  • Page 43
    ...2011 For the years ended June 30, 2010...cable distribution investments Equity (earnings) losses of affiliates Cash distributions...shares Dividends paid Purchase of subsidiary shares from noncontrolling interests Sale of subsidiary shares... audited consolidated financial statements. 2011 Annual Report 41

  • Page 44
    .... June 30, 2010 Net income Unrealized holding gains on securities, net of tax Benefit plan adjustments Foreign currency translation adjustments Comprehensive income Dividends declared Shares issued Change in value of redeemable noncontrolling interest and other Balance. June 30, 2011 1,810 $18...

  • Page 45
    .... News Corporation is a diversified global media company, which manages and reports its businesses in six segments: Cable Network Programming, which principally consists of the production and licensing of programming distributed through cable television systems and direct broadcast satellite ("DBS...

  • Page 46
    ... film or television production's fair value. Programming Costs: In accordance with ASC 920, "Entertainment - Broadcasters," costs incurred in acquiring program rights or producing programs for the Television, DBS and Cable Network Programming segments are capitalized and amortized over the license...

  • Page 47
    ... assets The Company has a significant amount of intangible assets, including goodwill, film and television libraries, Federal Communications Commission ("FCC") licenses, newspaper mastheads, distribution networks, publishing rights and other copyright products and trademarks. Goodwill is recorded as...

  • Page 48
    ... made available for sale by retailers and all Company-imposed restrictions on the sale of DVD and Blu-ray units have expired. License agreements for the broadcast of theatrical and television product in the broadcast network, syndicated television and cable television markets are routinely entered...

  • Page 49
    ...Common Stock outstanding. Diluted earnings per share for Class A Common Stock and Class B Common Stock is calculated similarly, except that the calculation includes the dilutive effect of the assumed issuance of shares issuable under the Company's equity-based compensation plans. 2011 Annual Report...

  • Page 50
    ... are met. The Company uses financial instruments designated as cash flow hedges to hedge its limited exposures to foreign currency exchange risks associated with the costs for producing or acquiring films and television programming abroad. All cash flow hedges are recorded at fair value on the...

  • Page 51
    ... the Company formed a joint venture with China Media Capital ("CMC"), a media investment fund in China, to explore new growth opportunities. The Company transferred the equity and related assets of its STAR China business along with the Fortune Star Chinese movie library with a combined market value...

  • Page 52
    ... is not material, was recorded at fair value and is now accounted for under the equity method of accounting. During fiscal 2010, the Company sold the majority of its terrestrial television operations in Eastern Europe led by the sale of its Bulgarian terrestrial TV business, bTV. The aggregate cash...

  • Page 53
    ... million recorded at the television business, $74 million recorded at the newspaper businesses, $33 million recorded at the book publishing business and $178 million related to the Company's digital media properties, $148 million of which was recorded for facility related costs. 2011 Annual Report...

  • Page 54
    ... costs associated with the restructuring activities. As of June 30, 2011, all of the material aspects of the plans have been completed and the substantial remaining obligation pertains to the lease termination charges for leased facilities of approximately $53 million. 52 News Corporation

  • Page 55
    ... 30, 2011 2010 (in millions) Equity method investments: British Sky Broadcasting Group plc(1) Sky Network Television Ltd.(1) NDS Sky Deutschland AG(1) Other equity method investments Fair value of available-for-sale investments Other investments U.K. DBS operator New Zealand media company Digital...

  • Page 56
    Notes to the Consolidated Financial Statements (continued) The cost basis, unrealized gains, unrealized losses and fair market value of available-for-sale investments are set forth below: 2011 As of June 30, (in millions) 2010 Cost basis of available-for-sale investments Accumulated gross ...

  • Page 57
    ...decline, the Company's carrying value in Sky Deutschland exceeded its market value based upon Sky Deutschland's closing share price of â,¬4.38 on October 3, 2008. The Company believes that this decline was not temporary based on the assessment described below and, accordingly, recorded an impairment...

  • Page 58
    ... about the Company's derivatives and hedging activities (Level 2). The table below presents information about financial assets and liabilities carried at fair value on a recurring basis as of June 30, 2011: Fair Value Measurements at Reporting Date Using Quoted Prices in Active Markets for Identical...

  • Page 59
    ... of credit risk at June 30, 2011 or June 30, 2010 due to the wide variety of customers, markets and geographic areas to which the Company's products and services are sold. The Company monitors its positions with, and the credit quality of, the financial institutions which are counterparties to its...

  • Page 60
    ...Assets The carrying values of the Company's intangible assets and related accumulated amortization were as follows: 2011 For the years ended June 30, 2010 (in millions) Intangible assets not subject to amortization FCC licenses Distribution networks Publishing rights & imprints Newspaper mastheads...

  • Page 61
    ... market. Fiscal 2011 During the second quarter of fiscal 2011, the Company performed an interim impairment review of its Digital Media Group reporting unit's goodwill as a result of lower than expected earnings and cash flows relative to the assumptions utilized in its fiscal 2010 annual impairment...

  • Page 62
    ... million; 2014 - $175 million; 2015 - $135 million; and 2016 - $116 million. These amounts may vary as acquisitions and disposals occur in the future and as purchase price allocations are finalized. NOTE 10. Borrowings Outstanding Weighted average interest rate at June 30, 2011 Description Due date...

  • Page 63
    ... NAI as Borrower, the Company as Parent Guarantor, the lenders named therein (the "Lenders"), Citibank, N.A. as Administrative Agent and JPMorgan Chase Bank, N.A. as Syndication Agent. The Credit Agreement provides a $2.25 billion unsecured revolving credit facility with a sub-limit of $600 million...

  • Page 64
    ... a total stock repurchase program of $6 billion with a remaining authorized amount under the program of approximately $1.8 billion, excluding commissions as of June 30, 2011. The Company did not repurchase any shares during the fiscal years ended June 30, 2011, 2010 and 2009. 62 News Corporation

  • Page 65
    ... fiscal year ending June 30, 2011. For executive directors of the Company, each PSU represents the right to receive the U.S. dollar value of one share of News Corporation's Class A Common Stock in cash after the completion of the three year performance period, subject to the 2011 Annual Report 63

  • Page 66
    ...are settled in shares of News Corporation's Class A Common Stock. The PSUs were awarded under the Company's 2005 Long-Term Incentive Plan. In fiscal 2011, a total of 1.8 million target PSUs were issued under this program. At the end of the three year performance period, the final number of PSUs will...

  • Page 67
    ... The Company did not grant any stock options in fiscal 2011 or 2010. The fair value of each stock option grant is estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions used for grants in the fiscal year ended June 30, 2009: 2009 Weighted average...

  • Page 68
    ...$100,000 in fiscal 2010 and 2009, respectively. Mrs. Murdoch is a Director of Myspace China Holdings Limited ("Myspace China"), a joint venture in which the Company owns a 51.5% interest on a fully diluted basis, which licenses the technology and brand to the local company in China that operates the...

  • Page 69
    ... Company can purchase the remaining additional interest for $35 million through November 2012. The Company also has an option to sell its interests in Rotana in February 2015 at the higher of the price per share based on a bona fide sale offer or the original subscription price. 2011 Annual Report...

  • Page 70
    ... an agreement for global programming rights. Under the terms of the agreement, the Company and the other joint-venture partner have jointly guaranteed the programming rights obligation. (e) In connection with the transaction related to the Dow Jones financial index businesses, the Company agreed to...

  • Page 71
    ... 2005 and August 30, 2005, two purported class action lawsuits captioned, respectively, Ron Sheppard v. Richard Rosenblatt et. al., and John Friedmann v. Intermix Media, Inc. et al., were filed in the California Superior Court, County of Los Angeles. Both lawsuits named as defendants all of the then...

  • Page 72
    ... Laborers Pension Fund v. News Corporation, was filed in the Delaware Court of Chancery. The plaintiff requested the Company's books and records to investigate alleged possible breaches of fiduciary duty by the directors of the Company in connection with the Company's purchase of Shine (the "Shine...

  • Page 73
    ... and named the Company as a nominal defendant, and seeks damages and costs. On July 19, 2011, a purported class action lawsuit captioned Wilder v. News Corp., et al., was filed on behalf of all purchasers of the Company's common stock between March 3, 2011 and July 11, 2011, in the United States...

  • Page 74
    ..., and the Valassis California Action has been dismissed with prejudice. As a result of the settlement, the Company recorded a charge of $500 million in fiscal year ended June 30, 2010. The cost of the new distribution agreement, which was entered into on a fair value basis, will be accounted...

  • Page 75
    ... the Company's benefit plans: Postretirement benefits 2011 2010 Pension benefits 2011 As of June 30, 2010 (in millions) Projected benefit obligation, beginning of the year Service cost Interest cost Benefits paid Settlements(a) Actuarial loss(b) Foreign exchange rate changes Amendments, transfers...

  • Page 76
    ... pension plans in which the accumulated benefit obligation exceeds fair value of the plan assets. Funded Plans 2011 As of June 30, 2010 (in millions) Unfunded Plans 2011 2010 Projected benefit obligation Accumulated benefit obligation Fair value of plan assets The components of net periodic costs...

  • Page 77
    ... Postretirement benefits 2011 2010 2009 Additional information: Weighted-average assumptions used to determine benefit obligations Discount rate Rate of increase in future compensation Weighted-average assumptions used to determine net periodic benefit cost Discount rate Expected return on plan...

  • Page 78
    ... significant concentrations of risk within plan assets. The table below presents the Company's plan assets by level within the fair value hierarchy as of June 30, 2011: Fair Value Measurements at Reporting Date Using Quoted Prices in Active Markets Significant Other for Identical Observable Inputs...

  • Page 79
    ... stocks that are publicly traded are valued at the closing price reported on active markets in which the individual securities are traded. (c) The fair value of corporate, government and agency obligations are valued based on a compilation of primary observable market information or a broker quote...

  • Page 80
    ... 434 $3,323 $(5,501) (38) $(5,539) Significant components of the Company's provision (benefit) for income taxes from continuing operations were as follows: 2011 For the years ended June 30, 2010 (in millions) 2009 Current: United States Federal State & local Foreign Total current Deferred Total...

  • Page 81
    ...penalty charges related to unrecognized tax benefits as income tax expense, which is consistent with the recognition in prior reporting periods. The Company had recorded liabilities for accrued interest of $43 million and $49 million as of June 30, 2011 and 2010, respectively. 2011 Annual Report 79

  • Page 82
    ... fiscal 2011 presentation. The Company is a diversified global media company, which manages and reports its businesses in the following six segments: • Cable Network Programming, which principally consists of the production and licensing of programming distributed through cable television systems...

  • Page 83
    ... customer tastes and preferences). 2011 For the years ended June 30, 2010 (in millions) 2009 Revenues: Cable Network Programming Filmed Entertainment Television Direct Broadcast Satellite Television Publishing Other Total revenues Segment operating income (loss): Cable Network Programming Filmed...

  • Page 84
    ... Depreciation and amortization Cable Network Programming Filmed Entertainment Television Direct Broadcast Satellite Television Publishing Other Total $1,653 848 191 393 836 (363) $3,558 $ 137 92 89 227 338 255 $1,138 $88 - - - - - $88 $1,878 940 280 620 1,174 (108) $4,784 82 News Corporation

  • Page 85
    Notes to the Consolidated Financial Statements (continued) 2011 For the years ended June 30, 2010 (in millions) 2009 Depreciation and amortization Cable Network Programming Filmed Entertainment Television Direct Broadcast Satellite Television Publishing Other Total depreciation and amortization ...

  • Page 86
    ...of customers. Australasia comprises Australia, Asia, Fiji, Papua New Guinea and New Zealand. NOTE 20. Earnings Per Share The following tables set forth the computation of basic and diluted earnings per share under ASC 260, "Earnings per Share" ("ASC 260"): 2011 For the year ended June 30, 2010 2009...

  • Page 87
    ... prices reflect the reported high and low closing sales prices for the Class A Common Stock and Class B Common Stock, as reported on The NASDAQ Global Select Market, its principal market, under the symbols "NWSA" and "NWS", respectively. (c) In the quarter ended June 30, 2010, the Company recorded...

  • Page 88
    ... statements of operations: 2011 For the years ended June 30, 2010 (in millions) 2009 Gain on STAR China transaction(a) Loss on disposal of Fox Mobile(a) Gain (loss) on the sale of eastern European television stations(a) Gain (loss) on the financial indexes business transaction(a) Loss on...

  • Page 89
    ... $360 million. The Company expects to record a gain related to the sale of this business during the first quarter of fiscal 2012. A dividend of $0.095 per share of Class A Common Stock and Class B Common Stock has been declared and is payable on October 19, 2011. The record date for determining...

  • Page 90
    ... to the Consolidated Financial Statements (continued) Supplemental Condensed Consolidating Statement of Operations News News America News Reclassifications Corporation Incorporated Corporation Non-Guarantor and Eliminations and Subsidiaries For the year ended June 30, 2011 (in millions) Revenues...

  • Page 91
    ...Financial Statements (continued) Supplemental Condensed Consolidating Statement of Operations News America Incorporated For the year ended June 30, 2010 News Corporation Non-Guarantor (in millions) News Reclassifications Corporation...105) $ 2,539 $(1,736) $2,539 $(4,841) 2011 Annual Report 89

  • Page 92
    Notes to the Consolidated Financial Statements (continued) Supplemental Condensed Consolidating Statement of Operations News America Incorporated For the year ended June 30, 2009 News Corporation Non-Guarantor (in millions) News Reclassifications Corporation and Eliminations and Subsidiaries ...

  • Page 93
    ...Financial Statements (continued) Supplemental Condensed Consolidating Balance Sheet News America Incorporated At June 30, 2011 News Corporation Non-Guarantor (in millions) News Reclassifications Corporation... in associated companies and other ...6,330 2,332 442 21,784 2011 Annual Report 91

  • Page 94
    ...Financial Statements (continued) Supplemental Condensed Consolidating Balance Sheet News America Incorporated At June 30, 2010 News Corporation Reclassifications Non-Guarantor and Eliminations (in millions) News Corporation... Investments in associated companies and other investments Intragroup...

  • Page 95
    ... to the Consolidated Financial Statements (continued) Supplemental Condensed Consolidating Statement of Cash Flows News News America News Reclassifications Corporation Incorporated Corporation Non-Guarantor and Eliminations and Subsidiaries For the year ended June 30, 2011 (in millions) Operating...

  • Page 96
    ... to the Consolidated Financial Statements (continued) Supplemental Condensed Consolidating Statement of Cash Flows News News America News Reclassifications Corporation Incorporated Corporation Non-Guarantor and Eliminations and Subsidiaries For the year ended June 30, 2010 (in millions) Operating...

  • Page 97
    ...Financial Statements (continued) Supplemental Condensed Consolidating Statement of Cash Flows News News America News Reclassifications Corporation Incorporated Corporation...shares Dividends paid Purchase of subsidiary shares...) (1,288) 1,762 (627) $1,464 $ 343 $ 441 $- $ 2,248 2011 Annual Report 95

  • Page 98
    ...factual basis underlying the obligations created pursuant to the various facilities and other obligations constituting senior indebtedness of the Company differ, it is not possible to predict how a court in bankruptcy would accord priorities among the obligations of the Company. 96 News Corporation

  • Page 99
    ...Stock do have the right to vote, together with holders of shares of Class B Common Stock in limited circumstances which are described in News Corporation's Restated Certificate of Incorporation. Distribution of stockholding (includes CDIs) The following information is provided as of August 22, 2011...

  • Page 100
    ... is based on information provided by News Corporation's transfer agent as of August 22, 2011. Class B Common Stock Cede & Co Chess Depositary Nominees PTY Limited Fayez Sarofim Charles Wilson Audrey Christine Cohen Ann T. P. Allen-Stevens Henry R. Marten Julian R. Stow Kenneth B. Ullman David Hill...

  • Page 101
    FAMILY GUY™ and © 2011 TCFFC ALL RIGHTS RESERVED

  • Page 102
    ...Blue Sky Studios Twentieth Century Fox Television Fox Television Studios Twentieth Television United States, Europe, Australia, New Zealand Shine Limited Kudos Dragonï¬,y Princess Productions Shine TV Reveille Metronome Film & Television Shine International Shine Australia Shine France Shine Germany...

  • Page 103
    ..., TN Austin, TX Gainesville, FL Asia Tata Sky Limited 30% Australia and New Zealand FOXTEL 25% Sky Network Television Limited 44% Publishing United States Dow Jones & Company, Inc. The Wall Street Journal Barron's Dow Jones Corporate Markets Dow Jones Financial Markets Dow Jones Newswires Dow Jones...

  • Page 104
    ...and audience and employee engagement programs such as FOX's 'Green It. Mean It.' and News Limited's One Degree, News Corporation has saved millions of dollars across its operations and supply chain. Key third parties have recognized us as a leader within our industry and beyond. In 2010, the Company...

  • Page 105
    ... Operating Officer Chairman and CEO, International David F . DeVoe Chief Financial Officer Roger Ailes Chairman and Chief Executive Officer FOX News Channel and FOX Business Network Chairman Fox Television Stations and Twentieth Television Janet Nova Interim Group General Counsel Share Registers...

  • Page 106
    1211 Avenue of the Americas New York, NY 10036 www.newscorp.com