Twenty-First Century Fox 2009 Annual Report Download

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Annual Report
2009

Table of contents

  • Page 1
    Annual Report 2009

  • Page 2
    ... this document and include statements regarding the intent, belief or current expectations of News Corporation, its Directors or its Officers with respect to, among other things, trends affecting the group's financial condition or results of operations. Readers of this document are cautioned that...

  • Page 3
    Rupert Murdoch Chairman and Chief Executive Officer News Corporation A Letter From Rupert Murdoch The last year has been among the most challenging in our Company's 56-year history. The entire media industry is not only coping with the global recession but, at the same time, learning to navigate ...

  • Page 4
    trusted source 2 News Corporation

  • Page 5
    ... most convenient for their individual lifestyles. They are willing to pay, but they are only willing to pay for what they value. Family GuyTM and ©2009 Twentieth Century Fox Film Corp. All rights reserved 2009 Annual Report 3

  • Page 6
    ...how to build audiences, manage complex staffs, and operate businesses profitably. I am confident Chase will use those talents to ensure the Company takes full advantage of the incredible opportunities before us across all of our businesses. As chairman and chief executive of Europe and Asia, James...

  • Page 7
    powerful entertainment 2009 Annual Report 5

  • Page 8
    audiences around the globe 6 News Corporation

  • Page 9
    2009 Annual Report 7

  • Page 10
    quality journalism is not cheap 8 News Corporation

  • Page 11
    ... which is why we are looking to build direct customer bases wherever possible. The more we know who is watching us on television or subscribing to our papers, the more opportunities we will have to generate revenue. For our newspapers, this means that advertising alone will no longer have to pay all...

  • Page 12
    A Letter From Rupert Murdoch fair and balanced 10 News Corporation

  • Page 13
    .... In U.S. cable, our Big Ten Network has gained distribution on all major pay -TV platforms in the Big Ten markets and is already profitable in its second season. The FOX Business Network has seen its subscribers surge to more than 50 million, well ahead of our targets. FOX News Channel has seen...

  • Page 14
    ...we have added more than three dozen additional channels in Europe, Latin America and Asia. And profits are rising strongly. When it comes to broadcast television, clearly the model is challenged. Good programming is expensive and can no longer be supported solely by advertising revenues. In a three...

  • Page 15
    a constant demand for more and better 2009 Annual Report 13

  • Page 16
    ...United Kingdom. In Germany, our equity affiliate Sky Deutschland intends to bring the same high service and premium products that have done so well in other European markets to perhaps the continent's richest economy. It's not just Western markets, either. In Turkey, our national television station...

  • Page 17
    ... in Filmed Entertainment, ...year. Box-office receipts for the first half of the calendar year are up seven percent over 2008 industry- wide, thanks in...planned for this coming Christmas. These will be followed by a very promising and full slate of new films for 2010. Oscar winning 2009 Annual Report...

  • Page 18
    ... of our business models and turn old assumptions on their heads. A media company lives or dies by the creativity of its people. We may live in a more competitive world, but the new customers we are gaining for our products - for our books and newspapers, for our broadcast and cable programming, for...

  • Page 19
    turning old assumptions on their heads 2009 Annual Report 17

  • Page 20
    ...Latin America Canal Fox As of June 30, 2009 News Corporation is a diversified global media company, which principally consists of the following: Television United States FOX Broadcasting Company MyNetworkTV Fox Television Stations WNYW New York, NY WWOR New York, NY KTTV Los Angeles, CA KCOP Los...

  • Page 21
    ...Inserts United States and Canada News America Marketing Group In-Store FSI (SmartSource Magazine) SmartSource iGroup News Marketing Canada STAR DEN 50% Book Publishing United States, Canada, Europe, New Zealand and Australia HarperCollins Publishers Asia HarperCollins India 40% 2009 Annual Report...

  • Page 22
    ...of Time Warner Cable Inc.), CBS Corporation Class B common stock and Viacom Inc. Class B Common Stock (created on December 31, 2005 by the separation of the company formerly known as Viacom Inc. into two publicly held companies, CBS Corporation and Viacom Inc.). The removal of Time Warner Cable Inc...

  • Page 23
    ...to the final fiscal 2007 dividend payment, shares of Class A Common Stock ceased to carry any rights to a greater dividend than shares of Class B Common Stock. See Notes 2 and 20 to the Consolidated Financial Statements of News Corporation for further discussion. (6) The Company's Board of Directors...

  • Page 24
    ...other documents filed by the Company with the Securities and Exchange Commission (the "SEC"). This section should be read together with the audited Consolidated Financial Statements of News Corporation and related notes set forth elsewhere in this Annual Report. Introduction Management's discussion...

  • Page 25
    ... Sports Networks ("RSNs"), the National Geographic Channels, SPEED and the Big Ten Network. The Company's international cable networks consist of the Fox International Channels ("FIC") with operations primarily in Latin America, Europe and Asia. Generally, the Company's cable networks, which target...

  • Page 26
    ... the broadcaster or cable network and its programming. Additional expenses include sales commissions paid to the in-house advertising sales force, as well as salaries, employee benefits, rent and other routine overhead expenses. The Company has several multi-year sports rights agreements, including...

  • Page 27
    ... the Consolidated Financial Statements of News Corporation) During fiscal 2009, the Company entered into an agreement with Sky Deutschland AG (formerly Premiere AG) ("Sky Deutschland") and the bank syndicate of Sky Deutschland to provide Sky Deutschland with a new financing structure and additional...

  • Page 28
    News Corporation Management's Discussion and Analysis of Financial Condition and Results of Operations (continued) invested an aggregate of approximately $300 million in shares of Sky Deutschland during fiscal 2009 and, as of June 30, 2009, the Company had an approximate 38% ownership interest in...

  • Page 29
    ...the sale of a portion of the Company's ownership stake in February 2009. These decreases were partially offset by higher programming costs at the Cable Network Programming segment, higher programming costs due to increases in entertainment programming license fees at FOX, as well as costs associated...

  • Page 30
    ... with this restructuring program, the Company also eliminated excess facility requirements. In fiscal 2009, several other businesses of the Company implemented similar plans, including the U.K. and Australian newspapers, HarperCollins, MyNetworkTV and Fox Television Stations. During the fiscal...

  • Page 31
    ... the price of the underlying stock could have a material impact on the operating results of the Company. (See Note 11 to the Consolidated Financial Statements of News Corporation.) Income tax benefit (expense)-The Company's tax provision and related tax rate for the fiscal year ended June 30, 2009...

  • Page 32
    ... to fiscal 2008. 2009 For the years ended June 30, 2008 ($ millions) Change % Change Revenues: Filmed Entertainment Television Cable Network Programming Direct Broadcast Satellite Television Magazines and Inserts Newspapers and Information Services Book Publishing Other Total revenues Operating...

  • Page 33
    ... year ended June 30, 2009, revenues at the Cable Network Programming segment increased $587 million, or 12%, as compared to fiscal 2008. This increase was driven by higher net affiliate and advertising revenues at FOX News, the Company's international cable channels, the Big Ten Network and FX. The...

  • Page 34
    ... pound sterling and Australian dollar and the advertising weakness noted above. These decreases were partially offset by the absence of approximately $170 million in depreciation and other costs related to the redundancy program in the United Kingdom in connection with printing press upgrades, which...

  • Page 35
    ... Stock and Class B Common Stock. Subsequent to the final fiscal 2007 dividend payment, shares of Class A Common Stock ceased to carry any rights to a greater dividend than shares of Class B Common Stock. (See Note 20 to the Consolidated Financial Statements of News Corporation) 2009 Annual Report...

  • Page 36
    ... from Dow Jones, which was acquired in December 2007. The Cable Network Programming segment increase was primarily due to the consolidation of the National Geographic channels and higher net affiliate revenues. The increase at the DBS segment was primarily due to an increase in subscribers during...

  • Page 37
    ... Brasil(b) Gain on sale of Phoenix Satellite Television Holdings Limited(b) Termination of participation rights agreement(a) Impairment of cost based investments(b) Change in fair value of exchangeable securities Other Total Other, net (a) See Note 3 to the Consolidated Financial Statements of News...

  • Page 38
    ...30, 2008 were the worldwide home entertainment and pay television performances of Night at the Museum, Borat: Cultural Learnings of America for Make Benefit Glorious Nation of Kazakhstan and Eragon. The fiscal year ended June 30, 2007 included the initial releasing costs of Live Free or Die Hard, as...

  • Page 39
    ... June 30, 2008, revenues at the Cable Network Programming segment increased $1.1 billion, or 28%, as compared to fiscal 2007. This increase was driven by higher net affiliate and advertising revenues at FOX News, FX, and the Company's international cable channels as well as affiliate revenue growth...

  • Page 40
    ... income related to the gain of $126 million from the sale of a parcel of land the Company owned in the United Kingdom in June 2008. A reconciliation of the reported operating income to Adjusted operating loss is included in Note 19 to the Consolidated Financial Statements of News Corporation. For...

  • Page 41
    ... profits and lower worldwide theatrical and home entertainment receipts at the Filmed Entertainment segment, lower advertising receipts and higher payments for sports programming at the Television segment, higher sports and entertainment rights payments at the DBS and Cable 2009 Annual Report 39

  • Page 42
    ... Company declared the final dividend on fiscal 2009 results of $0.06 per share for Class A Common Stock and Class B Common Stock. This together with the interim dividend of $0.06 per share of Class A Common Stock and Class B Common Stock constitute the total dividend relating to fiscal 2009. Based...

  • Page 43
    ... used in financing activities was partially offset by a reduction in cash used for share repurchases of $355 million in fiscal 2007. The total dividends declared related to fiscal 2008 results were $0.12 per share of Class A Common Stock and Class B Common Stock. In August 2008, the Company declared...

  • Page 44
    ...program rights to broadcast certain Big Ten Conference sporting events are payable over the remaining term of the contract through fiscal 2032. In addition, the Company has certain other local sports broadcasting rights. (c) Includes obligations relating to third party printing contracts, television...

  • Page 45
    ... upon the future cost of retiree medical benefits under the Company's pension plans. The Company expects its OPEB payments to approximate $17 million in fiscal 2010. (See Note 17 to the Consolidated Financial Statements of News Corporation for further discussion of the Company's pension and OPEB...

  • Page 46
    News Corporation Management's Discussion and Analysis of Financial Condition and Results of Operations (continued) Television, Cable Network Programming and Direct Broadcast Satellite-Advertising revenue is recognized as the commercials are aired, net of agency commissions. Subscriber fees ...

  • Page 47
    ... increase or charge to income. Employee Costs The measurement and recognition of costs of the Company's various pension and other postretirement benefit plans require the use of significant management judgments, including discount rates, expected return on plan assets, future compensation and other...

  • Page 48
    News Corporation Management's Discussion and Analysis of Financial Condition and Results of Operations (continued) The Company maintains defined benefit pension plans covering a significant number of its employees and retirees. The primary plans have been closed to employees hired after January ...

  • Page 49
    News Corporation Management's Discussion and Analysis of Financial Condition and Results of Operations (continued) Changes in net periodic pension expense may occur in the future due to changes in the Company's expected rate of return on plan assets and discount rate resulting from economic ...

  • Page 50
    News Corporation Quantitative and Qualitative Disclosures about Market Risk The Company has exposure to several types of market risk: changes in foreign currency exchange rates, interest rates and stock prices. The Company neither holds nor issues financial instruments for trading purposes. The ...

  • Page 51
    ... Corporation Financial Statements and Supplementary Data News Corporation Index to Consolidated Financial Statements Page Management's Report on Internal Control Over Financial Reporting Report of Independent Registered Public Accounting Firm on Internal Control Over Financial Reporting Report...

  • Page 52
    ... or procedures may deteriorate. Management, including the 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, 2009, based on criteria for effective internal...

  • Page 53
    ...control over financial reporting as of June 30, 2009, 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, 2009 and 2008, and the related...

  • Page 54
    ..., and pension and other post-retirement obligations, effective June 30, 2007. 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, 2009, based on criteria...

  • Page 55
    ... expense and minority interest in subsidiaries Income tax benefit (expense) Minority interest in subsidiaries, net of tax Net (loss) income Dividend declared per share: Class A Class B Basic (loss) earnings per share: Class A Class B Diluted (loss) earnings per share: Class A Class B $30,423 19,563...

  • Page 56
    ... payable Program rights payable Deferred revenue Total current liabilities Non-current liabilities: Borrowings Other liabilities Deferred income taxes Minority interest in subsidiaries Commitments and contingencies Stockholders' Equity: Class A common stock(1) Class B common stock(2) Additional...

  • Page 57
    ...sale of investments, other non-current assets and business disposals Net cash used in investing activities Financing activities: Borrowings Repayment of borrowings Issuance of shares Repurchase of shares Dividends... part of these audited consolidated financial statements. 2009 Annual Report 55

  • Page 58
    News Corporation Consolidated Statements of Stockholders' Equity and Other Comprehensive Income 2009 Shares For the years ended June 30, Amount 2008 Shares (In Millions) Amount 2007 Shares Amount Class A common stock: Balance, beginning of year Shares issued Shares repurchased Balance, end of year...

  • Page 59
    ... Financial Statements Note 1. Description of Business News Corporation and its subsidiaries (together, "News Corporation" or the "Company") is a Delaware corporation. News Corporation is a diversified global media company, which manages and reports its businesses in eight segments: Filmed...

  • Page 60
    ...") No. 63, "Financial Reporting by 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 period or projected useful life of the programming. Program rights and the...

  • Page 61
    ... of such assets exceeds their fair value. The Company generally measures fair value by considering sale prices for similar assets or by discounting estimated future cash flows using an appropriate discount rate. Considerable management judgment is necessary to estimate the 2009 Annual Report 59

  • Page 62
    ... management analyzes historical returns, current economic trends and changes in customer demand and acceptance of the Company's product. Based on this information, management reserves a percentage of each dollar of product sales that provide the customer with the right of return. 60 News Corporation

  • Page 63
    ... per share for Class A 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 and the dilutive effect of convertible securities. 2009 Annual Report 61

  • Page 64
    ... method in accounting for generally all share-based payment transactions with employees. Pension and other postretirement benefits In June 2007, the Company adopted SFAS No. 158, "Employers' Accounting for Defined Benefit Pension and Other Postretirement Plans- an amendment of FASB Statements...

  • Page 65
    News Corporation Notes to the Consolidated Financial Statements (continued) 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...

  • Page 66
    ...of Dow Jones common stock was converted into the right to receive, at the election of the holder, either (x) $60.00 in cash or (y) 2.8681 Class B common units of Ruby Newco. Each Class B common unit of Ruby Newco is convertible into a share of News Corporation Class A Common Stock. The consideration...

  • Page 67
    News Corporation Notes to the Consolidated Financial Statements (continued) instruments was approximately $200 million. As of June 30, 2009, approximately 7.7 million Class B common units of Ruby Newco had been converted into shares of Class A Common Stock. Under the purchase method of accounting...

  • Page 68
    ... "FOX TV"), a national general interest free-to-air broadcast television station in Turkey. The Company acquired its interest for approximately $103 million in cash, plus acquisition related costs. In December 2006, NDS, formerly an indirect majority owned subsidiary of the Company (see Fiscal 2009...

  • Page 69
    News Corporation Notes to the Consolidated Financial Statements (continued) The Company expects to record an additional $79 million of restructuring expense related to additional employee termination benefits and accretion on facility terminations through 2021. At June 30, 2009, restructuring ...

  • Page 70
    ...: British Sky Broadcasting Group plc(1) Sky Deutschland AG(1) Sky Network Television Ltd. NDS(2) Other equity method investments Fair value of available-for-sale investments Other investments (1) U.K. DBS operator German pay-TV operator New Zealand media company Digital technology company 39...

  • Page 71
    ... 2009, the Company entered into an agreement with Sky Deutschland and the bank syndicate of Sky Deutschland to provide Sky Deutschland with a new financing structure and additional capital through two equity capital increases. The first and second equity capital increases were structured as rights...

  • Page 72
    News Corporation Notes to the Consolidated Financial Statements (continued) a result of this 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 ...

  • Page 73
    ... the Company's derivatives and hedging activities (Level 2). (See Note 11-Exchangeable Securities) The table below presents information about financial assets and liabilities carried at fair value on a recurring basis as of June 30, 2009: Fair Value Measurements at Reporting Date Using Quoted Prices...

  • Page 74
    ... some of the Company's advertising-based businesses; and (d) the decline in the valuations of other television stations, newspapers and advertising-based companies as determined by the current trading values of those companies. In addition, the Company also performed an annual impairment assessment...

  • Page 75
    News Corporation Notes to the Consolidated Financial Statements (continued) Discount rate assumptions are based on an assessment of the risk inherent in the future cash flows of the respective reporting units. In assessing the reasonableness of its determined fair values, the Company evaluates ...

  • Page 76
    ... Foreign Exchange (in millions) Adjustments(1) Balance as of June 30, 2009 Filmed Entertainment Television Cable Network Programming Direct Broadcast Satellite Television Magazines & Inserts Newspapers and Information Services Book Publishing Other Total goodwill $ 1,071 3,326 5,071 689 257 5,824...

  • Page 77
    ... any time into Class A Common Stock or, at the option of the Company, the cash equivalent thereof at a fixed exchange rate of 24.2966 shares of Class A Common Stock per $1,000 note. The remaining LYONs are redeemable at the option of the holders on February 28, 2011 and February 28, 2016 at a price...

  • Page 78
    ... the combined voting power of the then outstanding shares of the Company's capital stock entitled to vote generally in the election of directors; (ii) the dividend rate and preferences, if any, which that preferred stock or common stock will have compared to any other class; and 76 News Corporation

  • Page 79
    ... discontinued at any time. Dividends For the years ended June 30, 2009 2008 2007 Cash dividend paid per share Class A Class B $0.12 $0.12 $0.11 $0.12 $0.10 Note 14. Equity Based Compensation News Corporation 2005 Long-Term Incentive Plan The Company has adopted the News Corporation 2005 Long-Term...

  • Page 80
    ... the business unit's actual fiscal 2007, 2008 or 2009 operating profit fell within the performance goal range for that fiscal year, the executive received a percentage of his or her annualized base salary, ranging from 0% to 100%, in time-vested RSUs representing shares of Class A Common Stock. The...

  • Page 81
    ...2004 Plan automatically terminates in 2014. Other The Company operates employee share ownership schemes in the United Kingdom and Ireland. These plans enable employees to enter into fixed-term savings contracts with independent financial institutions linked to an option for Class A Common Stock. The...

  • Page 82
    ... 30, 2009, 2008 and 2007, respectively. Note 15. Related Parties Director transactions The Company has engaged Mrs. Wendi Murdoch, the wife of Mr. K.R. Murdoch, the Company's Chairman and Chief Executive Officer, to provide strategic advice for the development of the MySpace business in China. The...

  • Page 83
    News Corporation Notes to the Consolidated Financial Statements (continued) The Shine Group ("Shine"), a television production and distribution company, is controlled by Ms. Elisabeth Murdoch, the daughter of Mr. K.R. Murdoch. Through the normal course of business, certain subsidiaries of the ...

  • Page 84
    ... with the National Association of Stock Car Auto Racing ("NASCAR") give the Company rights to broadcast certain races and ancillary content through calendar year 2014. Under the Company's contract with the Bowl Championship Series ("BCS"), remaining future minimum payments for program rights to...

  • Page 85
    ... and officers in the United States District Court for the Central District of California filed a First Amended Class and Derivative Complaint (the "Amended Complaint"). The original derivative action was filed in May 2003 and arose out of Intermix's restatement of quarterly financial results...

  • Page 86
    ... amount to be calculated at the time of payment of the judgment. News America intends to file a motion for new trial. If that motion is denied, News America intends to appeal and post a bond for $25 million, the maximum bond required under Michigan law. Based on the Company's review of the record in...

  • Page 87
    ... the Company's benefit plans: Pension benefits 2009 As of June 30, 2008 (in millions) Postretirement benefits 2009 2008 Projected benefit obligation, beginning of the year Service cost Interest cost Acquisitions Benefits paid Actuarial gain(a) Foreign exchange rate changes Amendments, transfers and...

  • Page 88
    News Corporation Notes to the Consolidated Financial Statements (continued) Amounts recognized in the consolidated balance sheets consist of: Pension benefits 2009 As of June 30, 2008 (in millions) Postretirement benefits 2009 2008 Amounts recorded in the balance sheet Non-current pension assets...

  • Page 89
    News Corporation Notes to the Consolidated Financial Statements (continued) The components of net periodic costs were as follows: Pension benefits 2009 For the years ended June 30, 2008 2007 (in millions) Postretirement benefits 2009 2008 2007 Components of net periodic cost: Service cost ...

  • Page 90
    ... for the fiscal years ended June 30, 2009, 2008 and 2007, respectively. In addition, the Company has defined contribution plans for the benefit of substantially all employees meeting certain eligibility requirements. Employer contributions to such plans were $199 million, $186 million and $115...

  • Page 91
    News Corporation Notes to the Consolidated Financial Statements (continued) Significant components of the Company's (benefit) provisions for income taxes were as follows: 2009 For the years ended June 30, 2008 (in millions) 2007 Current: United States Federal State & local Foreign Total current ...

  • Page 92
    ... stations, including nine duopolies, in the United States (Of these stations, 17 are affiliated with FOX, and ten are affiliated with MyNetworkTV), the broadcasting of network programming in the United States and the development, production and broadcasting of television programming in Asia. 90 News...

  • Page 93
    ..., and News Outdoor, an advertising business which offers display advertising in outdoor locations primarily throughout Russia and Eastern Europe. The Company's operating segments have been determined in accordance with the Company's internal management structure, which is organized based on...

  • Page 94
    ... the Consolidated Financial Statements (continued) 2009 For the years ended June 30, 2008 (in millions) 2007 Revenues: Filmed Entertainment Television Cable Network Programming Direct Broadcast Satellite Television Magazines and Inserts Newspapers and Information Services Book Publishing Other...

  • Page 95
    ...before depreciation (loss) amortization investments and amortization (in millions) Filmed Entertainment Television Cable Network Programming Direct Broadcast Satellite Television Magazines and Inserts Newspapers and Information Services Book Publishing Other Total $ 1,225 962 1,090 221 335 653 159...

  • Page 96
    ... Financial Statements (continued) 2009 For the years ended June 30, 2008 (in millions) 2007 Depreciation and amortization Filmed Entertainment Television Cable Network Programming Direct Broadcast Satellite Television Magazines and Inserts Newspapers and Information Services Book Publishing...

  • Page 97
    ...attributed to countries based on location of customers. Australasia comprises Australia, Asia, Fiji, Papua New Guinea and New Zealand. Note 20. Earnings Per Share Prior to fiscal 2008, earnings per share ("EPS") was computed individually for the Class A Common Stock and Class B Common Stock and net...

  • Page 98
    News Corporation Notes to the Consolidated Financial Statements (continued) (1) Weighted average common shares outstanding includes the incremental shares that would be issued upon the assumed exercise of stock options and vesting of restricted stock units if the effect is dilutive. Because the ...

  • Page 99
    ... Class A-Low Class B-High Class B-Low (a) The stock prices reflect the reported high and low closing sales prices for the Class A Common Stock and Class B Common Stock. Since December 29, 2008, the Class A Common Stock and Class B Common Stock have been listed and traded on The NASDAQ Global Select...

  • Page 100
    ... to third parties Issuance of subsidiary common units Fair value of equity instruments consideration $ 676 3 98 73 (850) - - - $ 8,410 94 (2,444) (203) (5,661) 196 165 31 $ 1,594 96 (408) (127) (1,155) - - - $(1,192) (871) 14 (90) $(1,867) (873) 12 (137) $ (969) (744) 64 (392) 98 News Corporation

  • Page 101
    ...1,676 208 133 112 - - - (125) 307 (18) $2,293 Gain on sale of China Network Systems(b) Termination of Participation rights agreement(a) Impairment of cost based investments(b) Change in fair value of Exchangeable securities(c) Other Total Other, net (a) See Note 3-Acquisitions, Disposals and Other...

  • Page 102
    ...preparation of its consolidated financial statements, the Company considered subsequent events through August 12, 2009, which was the date the Company's consolidated financial statements were issued. A dividend of $0.06 per share of Class A Common Stock and Class B Common Stock has been declared and...

  • Page 103
    ...Financial Statements (continued) Supplemental Condensed Consolidating Statement of Operations News America Incorporated For the year ended June 30, 2009 News Corporation Non-Guarantor (US$ in millions) Reclassifications and Eliminations News Corporation and Subsidiaries... 2009 Annual Report 101

  • Page 104
    ... Notes to the Consolidated Financial Statements (continued) Supplemental Condensed Consolidating Statement of Operations News America Incorporated For the year ended June 30, 2008 News Corporation Reclassifications and Eliminations News Corporation and Subsidiaries Non-Guarantor (US$ in...

  • Page 105
    ...Financial Statements (continued) Supplemental Condensed Consolidating Statement of Operations News America Incorporated For the year ended June 30, 2007 News Corporation Reclassifications and Eliminations News Corporation and Subsidiaries... supplemental guarantor information 2009 Annual Report 103

  • Page 106
    ...Financial Statements (continued) Supplemental Condensed Consolidating Balance Sheet News America Incorporated At June 30, 2009 News Corporation Reclassifications and Eliminations News Corporation and Subsidiaries... Investments Investments in associated companies and Other investments Intragroup ...

  • Page 107
    ...Financial Statements (continued) Supplemental Condensed Consolidating Balance Sheet News America Incorporated At June 30, 2008 News Corporation Reclassifications and Eliminations News Corporation and Subsidiaries... Investments in associated companies and Other investments ... 2009 Annual Report 105

  • Page 108
    ... Notes to the Consolidated Financial Statements (continued) Supplemental Condensed Consolidating Statement of Cash Flows News America Incorporated For the year ended June 30, 2009 News Corporation Reclassifications and Eliminations News Corporation and Subsidiaries Non-Guarantor (US$ in...

  • Page 109
    ...Financial Statements (continued) Supplemental Condensed Consolidating Statement of Cash Flows News America Incorporated For the year ended June 30, 2008 News Corporation Reclassifications and Eliminations News Corporation and Subsidiaries... supplemental guarantor information 2009 Annual Report 107

  • Page 110
    ... Notes to the Consolidated Financial Statements (continued) Supplemental Condensed Consolidating Statement of Cash Flows News America Incorporated For the year ended June 30, 2007 News Corporation Reclassifications and Eliminations News Corporation and Subsidiaries Non-Guarantor (US$ in...

  • Page 111
    ... 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. 2009 Annual Report...

  • Page 112
    ... and executive officers of News Corporation as a group, please refer to News Corporation's Proxy Statement for its 2009 Annual Meeting of Stockholders under the heading "Security Ownership of News Corporation." As of August 17, 2009, there were approximately 1,417 holders of record of Class B Common...

  • Page 113
    ... following information regarding the top twenty stockholders of record is based on information provided by News Corporation's transfer agent as of August 17, 2009. Class B Common Stock Cede & Co Chess Depositary Nominees Fayez Sarofim John B. Buford & Dana Buford (multiple accounts) Charles Wilson...

  • Page 114
    ... Chairman and Chief Executive, Europe and Asia 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 Lawrence A. Jacobs Group General Counsel 112 News Corporation

  • Page 115
    ...) 702 0002 Annual Report and Form 10-K Requests United States: 1211 Avenue of Americas, New York, NY 10036 Telephone 1 (212) 852 7059 Australia: 2 Holt Street, Surry Hills, NSW, Australia 2010 Telephone 61 (2) 9288 3216 United Kingdom: 1 Virginia Street, London, E98 1XY United Kingdom Telephone 44...

  • Page 116