Twenty-First Century Fox 2014 Annual Report Download - page 9

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PART I
ITEM 1. BUSINESS
Background
Twenty-First Century Fox, Inc. (formerly known as News Corporation), a Delaware corporation, is a
diversified global media and entertainment company with operations in the following five industry segments:
(i) Cable Network Programming; (ii) Television; (iii) Filmed Entertainment; (iv) Direct Broadcast Satellite
Television; and (v) Other, Corporate and Eliminations. The activities of Twenty-First Century Fox, Inc. are
conducted principally in the United States, the United Kingdom, Continental Europe, Asia and Latin America. For
financial information regarding Twenty-First Century Fox, Inc.’s segments and operations in geographic areas, see
“Item 8. Financial Statements and Supplementary Data.” Unless otherwise indicated, references in this Annual
Report on Form 10-K for the fiscal year ended June 30, 2014 (the “Annual Report”) to “we,” “us,” “our,” “21st
Century Fox,” “Twenty-First Century Fox” or the “Company” means Twenty-First Century Fox, Inc. and its
subsidiaries.
On June 28, 2013, the Company completed the separation of its business into two independent publicly traded
companies (the “Separation”) by distributing to its stockholders shares of the new News Corporation (“News
Corp”). The Company retained its interests in a global portfolio of cable, broadcast, film, pay-TV and satellite assets
spanning six continents. News Corp holds the Company’s former businesses including newspapers, information
services and integrated marketing services, digital real estate services, book publishing, digital education and sports
programming and pay-TV distribution in Australia. The Company completed the Separation by distributing to its
stockholders one share of News Corp Class A common stock for every four shares of the Company’s Class A
common stock held on June 21, 2013, and one share of News Corp Class B common stock for every four shares of
the Company’s Class B common stock held on June 21, 2013. The Company’s stockholders received cash in lieu of
fractional shares. Following the Separation the Company does not beneficially own any shares of News Corp
Class A common stock or News Corp Class B common stock. See “Item 1A. Risk Factors” for certain risk factors
relating to the Separation.
In July 2011, the Company announced that it would close a publication of a News Corp subsidiary, The News
of the World, after allegations of phone hacking and payments to public officials. The Company and News Corp are
subject to ongoing investigations by U.K. and U.S. regulators and governmental authorities relating to phone
hacking, illegal data access and inappropriate payments to officials at The News of the World and The Sun and
related matters (the “U.K. Newspaper Matters”). In connection with the Separation, the Company and News Corp
entered into a separation and distribution agreement (the “Separation and Distribution Agreement”) that provides
that the Company will indemnify News Corp, on an after-tax basis, for payments made after the Separation arising
out of civil claims and investigations relating to the U.K. Newspaper Matters, as well as legal and professional fees
and expenses paid in connection with the related criminal matters, other than fees, expenses and costs relating to
employees who are not (i) directors, officers or certain designated employees or (ii) with respect to civil matters, co-
defendants with News Corp.
The Company’s fiscal year ends on June 30 of each year. Through its predecessor, the Company was
incorporated in 1979 under the Company Act 1961 of South Australia, Australia. At June 30, 2014, the Company
had approximately 27,000 full-time employees. The Company’s principal executive offices are located at 1211
Avenue of the Americas, New York, New York 10036 and its telephone number is [phone]. The Company’s
website is www.21cf.com. The Company’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current
Reports on Form 8-K and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”), are available, free of charge, through the
Company’s website as soon as reasonably practicable after the material is electronically filed with or furnished to
the U.S. Securities and Exchange Commission (the “SEC”). Such reports may also be obtained without charge from
the Company, and paper copies of any exhibits to such reports are also available for a reasonable fee per page charge
to the requesting stockholder. Any materials that the Company filed with the SEC also may be read and copied at the
SEC’s Public Reference Room at 100 F Street, N.E., Washington, D.C. 20549. The public may obtain information
on the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330. The SEC maintains an
Internet site that contains reports, proxy and information statements, and other information regarding issuers that file
electronically with the SEC (http://www.sec.gov).