Twenty-First Century Fox 2014 Annual Report Download - page 49

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43
transaction is completed, the Shine Group will thereafter cease to be a consolidated subsidiary of the Company. There
can be no assurance that the proposed transaction will be completed.
Other
In March 2014, the Company received approval from its stockholders, and subsequently, the ASX for removal of
its full foreign listing from the ASX. Delisting from the ASX occurred on May 8, 2014 and, effective as of that date, all
of Twenty-First Century Fox’s Class A common stock and Class B common stock is listed solely on the NASDAQ.
In fiscal 2014, the Company sold its remaining 12% interest in Phoenix Satellite Television Holdings Ltd.
(“Phoenix”) for approximately $210 million.
In fiscal 2014, through separate transactions, the Company sold its 47% interest in CMC-News Asia Holdings
Limited, its 50% interest in STATS LLC and its 50% interest in STAR CJ Network India Pvt. Ltd, all equity method
investees, for a total consideration of approximately $255 million.
Subsequent Events
In July 2014, the Company sold its entire interest in Bona Film Group for approximately $70 million in cash.
In July 2014, the Company entered into agreements with British Sky Broadcasting Group plc (“BSkyB”) to
sell its 100% and 57% (on a fully diluted basis) ownership stakes in Sky Italia and Sky Deutschland AG (“Sky
Deutschland”), respectively, for approximately $9.3 billion (based on foreign currency exchange rates as of the date
of the agreements) comprised of approximately $8.6 billion in cash and the transfer to the Company of BSkyB’s
21% interest in NGC Network International LLC and NGC Network Latin America LLC (collectively “NGC
International”), increasing the Company’s ownership stake to 73% in NGC International. In connection with this
transaction, the Company participated in BSkyB’s equity offering in July 2014 by purchasing additional shares in
BSkyB for approximately $900 million and maintained the Company’s 39% ownership interest. The agreements are
subject to regulatory approvals, the approval of BSkyB stockholders and customary closing conditions.