Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
DJIA 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 2.54 0.14%
NASDAQ 4,095.52 9.29 0.23%
Ticker Volume Price Price Delta
STOXX 50 3,155.81 16.55 0.53%
FTSE 100 6,625.25 41.08 0.62%
DAX 9,409.71 91.89 0.99%
Ticker Volume Price Price Delta
NIKKEI 14,516.27 98.74 0.68%
TOPIX 1,173.37 6.78 0.58%
HANG SENG 22,760.24 64.23 0.28%

News Corporation NCRA SEC Form 8K



  News Corporation (NCRA) - SEC Form 8K

RNS Number : 8293Q
News Corporation
09 November 2012
 



 

 

                                UNITED STATES

                      SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, DC 20549

 

                                       

                                   FORM 8-K

 

                                       

                                CURRENT REPORT

                    PURSUANT TO SECTION 13 OR 15(d) OF THE

                       SECURITIES EXCHANGE ACT OF 1934

                               November 9, 2012

                                DATE OF REPORT

                      (DATE OF EARLIEST EVENT REPORTED)

 

                                       

                               NEWS CORPORATION

            (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)

 

                                       

 

          Delaware                  001-32352            26-0075658
(STATE OR OTHER JURISDICTION  (COMMISSION FILE NO.)     (IRS EMPLOYER

     OF INCORPORATION)                               IDENTIFICATION NO.)

            1211 Avenue of the Americas, New York, New York 10036

         (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES, INCLUDING ZIP CODE)

                                (212) 852-7000

             (REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE)

                                NOT APPLICABLE

        (FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)

 

                                       

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of
the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR
  230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
  240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
  Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
  Act (17 CFR 240.13e-4(c))

 

 

 

 

                                       

 

Item 8.01 Other Events.

During the first quarter of fiscal 2013, News Corporation (the "Company")
adopted Accounting Standards Update 2011-05, "Comprehensive Income (Topic
220): Presentation of Comprehensive Income" ("ASU 2011-05"). The Company is
filing this Current Report on Form 8-K to reflect the adoption of ASU 2011-05
to the financial information for the periods included in the Company's Annual
Report on Form 10-K for the fiscal year ended June 30, 2012 filed with the
United States Securities and Exchange Commission (the "SEC") on August 14,
2012 and amended on October 1, 2012 (the "2012 Form 10-K"). ASU 2011-05
requires an entity to present total comprehensive income, the components of
net income and the components of other comprehensive income in either a single
continuous statement of comprehensive income or in two separate but
consecutive statements. The Company elected to present the components of net
income and other comprehensive income in two separate, but consecutive,
statements.

The following presents the adoption of ASU 2011-05 in each of the fiscal years
ended June 30, 2012, 2011 and 2010.

            Consolidated Statements of Comprehensive (Loss) Income

                                (in millions)

 

                                             For the years ended June 30,
                                             2012        2011        2010
Net income                                 $  1,407     $ 2,894     $ 2,644
Other comprehensive (loss) income:        
Foreign currency translation
adjustments                                  (1,094 )     1,908        (250 ) 
Unrealized holding (losses) gains on
securities                                      (11 )        88          49
Benefit plan adjustments                       (511 )        54        (208 ) 
                                                                       
Other comprehensive (loss) income            (1,616 )     2,050        (409 ) 
                                                                       
Comprehensive (loss) income                    (209 )     4,944       2,235
                                                                       
Less: Net income attributable to
noncontrolling interests (a)                   (228 )      (155 )      (105 ) 
Less: Other comprehensive income
attributable to noncontrolling
interests (b)                                     5         (15 )         2
                                                                       
Comprehensive (loss) income
attributable to News Corporation
stockholders                               $   (432 )   $ 4,774     $ 2,132
                                                                       

 

(a)   Net income attributable to noncontrolling interests includes $75
      million, $24 million and $9 million relating to redeemable
      noncontrolling interests for the years ended June 30, 2012, 2011 and
      2010, respectively.

 

(b)   Other comprehensive income attributable to noncontrolling interests
      includes nil, $1 million and $(3) million relating to redeemable
      noncontrolling interests for the years ended June 30, 2012, 2011 and
      2010, respectively.

 

                                       

         Supplemental Condensed Consolidating Statement of Operations

                       For the year ended June 30, 2012

                                (in millions)

 

                                                                                               News
                                                                                           Corporation
                  News America        News                           Reclassifications         and
                  Incorporated     Corporation     Non-Guarantor     and Eliminations      Subsidiaries
Revenues          $          1     $       -       $      33,705     $             -       $     33,706
Expenses                  (416 )           -             (30,916 )                 -            (31,332 ) 
Equity
earnings
(losses) of
affiliates                  (5 )           -                 735                   -                730
Interest
expense, net            (1,499 )          (396 )             (14 )                 875           (1,034 ) 
Interest
income                       4               7               999                  (875 )            135
Earnings
(losses) from
subsidiary
entities                   127           1,630               -                  (1,757 )            -     
Other, net                 327             (62 )            (258 )                 -                  7
                                                                                                
Income (loss)
before income
tax expense             (1,461 )         1,179             4,251                (1,757 )          2,212
Income tax
(expense)
benefit                    532             -              (1,547 )                 210             (805 ) 
                                                                                                
Net income
(loss)                    (929 )         1,179             2,704                (1,547 )          1,407
Less: Net
income
attributable
to
noncontrolling
interests                  -               -                (228 )                 -               (228 ) 
                                                                                                
Net income
(loss)
attributable
to News
Corporation
stockholders      $       (929 )   $     1,179     $       2,476     $          (1,547 )   $      1,179
                                                                                                
Comprehensive
income (loss)
attributable
to News
Corporation
stockholders      $       (966 )   $      (432 )   $       1,204     $            (238 )   $       (432 ) 
                                                                                                

 

                                       

         Supplemental Condensed Consolidating Statement of Operations

                       For the year ended June 30, 2011

                                (in millions)

 

                                                                                               News
                                                                                           Corporation
                  News America        News                           Reclassifications         and
                  Incorporated     Corporation     Non-Guarantor     and Eliminations      Subsidiaries
Revenues          $          1     $       -       $      33,404     $             -       $     33,405
Expenses                  (399 )           -             (28,469 )                 -            (28,868 ) 
Equity
earnings
(losses) of
affiliates                  (6 )           -                 468                   -                462
Interest
expense, net            (1,435 )        (1,109 )             (19 )               1,597             (966 ) 
Interest
income                      73               8             1,642                (1,597 )            126
Earnings
(losses) from
subsidiary
entities                   672           3,924               -                  (4,596 )            -     
Other, net                 250             (84 )            (148 )                 -                 18
                                                                                                
Income (loss)
from
continuing
operations
before income
tax expense               (844 )         2,739             6,878                (4,596 )          4,177
Income tax
(expense)
benefit                    208             -              (1,694 )                 457           (1,029 ) 
                                                                                                
Income (loss)
from
continuing
operations                (636 )         2,739             5,184                (4,139 )          3,148
Loss on
disposition of
discontinued
operations,
net of tax                 -               -                (254 )                 -               (254 ) 
                                                                                                
Net income
(loss)                    (636 )         2,739             4,930                (4,139 )          2,894
Less: Net
income
attributable
to
noncontrolling
interests                  -               -                (155 )                 -               (155 ) 
                                                                                                
Net income
(loss)
attributable
to News
Corporation
stockholders      $       (636 )   $     2,739     $       4,775     $          (4,139 )   $      2,739
                                                                                                
Comprehensive
income (loss)
attributable
to News
Corporation
stockholders      $       (682 )   $     4,774     $       7,855     $          (7,173 )   $      4,774
                                                                                                

 

                                       

         Supplemental Condensed Consolidating Statement of Operations

                       For the year ended June 30, 2010

                                (in millions)

 

                                                                                               News
                                                                                           Corporation
                  News America        News                           Reclassifications         and
                  Incorporated     Corporation     Non-Guarantor     and Eliminations      Subsidiaries
Revenues          $          1     $       -       $      32,777     $             -       $     32,778
Expenses                  (323 )           -             (28,749 )                 -            (29,072 ) 
Equity
earnings of
affiliates                   2             -                 446                   -                448
Interest
expense, net            (4,256 )          (743 )             (10 )               4,018             (991 ) 
Interest
income                       6             -               4,103                (4,018 )             91
Earnings
(losses) from
subsidiary
entities                 1,744           3,283               -                  (5,027 )            -     
Other, net                 644              (1 )            (169 )                (405 )             69
                                                                                                
Income (loss)
before income
tax expense             (2,182 )         2,539             8,398                (5,432 )          3,323
Income tax
(expense)
benefit                    446             -              (1,716 )                 591             (679 ) 
                                                                                                
Net income
(loss)                  (1,736 )         2,539             6,682                (4,841 )          2,644
Less: Net
income
attributable
to
noncontrolling
interests                  -               -                (105 )                 -               (105 ) 
                                                                                                
Net income
(loss)
attributable
to News
Corporation
stockholders      $     (1,736 )   $     2,539     $       6,577     $          (4,841 )   $      2,539
                                                                                                
Comprehensive
income (loss)
attributable
to News
Corporation
stockholders      $     (1,638 )   $     2,132     $       7,456     $          (5,818 )   $      2,132
                                                                                                

Except as specifically noted herein, this Current Report on Form 8-K does not
reflect events or developments that occurred after August 14, 2012, and does
not modify or update the disclosures in any significant way other than as
described above. Without limiting the foregoing, this Current Report on Form
8-K does not purport to update, amend or restate the information contained in
the Company's 2012 Form 10-K for any information, uncertainties, transactions,
risks, events or trends occurring, or known to management. More current
information is contained in the Company's Form 10-Q for the three months ended
September 30, 2012 and other filings with the SEC. The information in this
Current Report on Form 8-K should be read in conjunction with the Company's
2012 Form 10-K, its Form 10-Q for the three months ended September 30, 2012
and other documents filed by the Company with the SEC subsequent to August 14,
2012.

 

Item 9.01 Financial Statements and Exhibits

 

Exhibit
Number   Description
  101    Documents formatted in eXtensible Business Reporting Language (XBRL).

 

                                       

                                  SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

 

NEWS CORPORATION

(REGISTRANT)
By:  /s/ Janet Nova
     Janet Nova
     Senior Vice President and

     Deputy General Counsel

Dated: November 9, 2012

 

                                       

                                Exhibit Index

 

Exhibit
Number   Description
  101    Documents formatted in eXtensible Business Reporting Language (XBRL).

 

                     This information is provided by RNS
           The company news service from the London Stock Exchange
 
END
 
 
MSCZMMGMMLGGZZZ -0- Nov/12/2012 07:00 GMT
Sponsored Links
Advertisement
Advertisements
Sponsored Links
Advertisement