News Corporation Files Registration Statement for Planned Separation of Businesses

  News Corporation Files Registration Statement for Planned Separation of
  Businesses

Business Wire

NEW YORK -- December 21, 2012

News Corporation (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) today filed an initial
Form 10 Registration Statement with the U.S. Securities and Exchange
Commission (SEC). The filing is in connection with the Company’s
previously-announced intention to separate its businesses into two
independent, publicly-traded companies.

Today’s Form 10 filing initiates a process of providing details about the new
News Corporation and the manner in which the separation will occur. The new
News Corporation will comprise a range of market-leading brands in newspapers,
information services and integrated marketing services, digital real estate
services, book publishing, digital education, as well as sports programming
and pay-TV distribution in Australia.

"The filing of the Form 10 is another important step forward in the evolution
of our company and in the establishment of two independent global leaders in
Fox Group and the new News Corporation," said Rupert Murdoch, Chairman and CEO
of News Corporation. “Today we are pleased to provide further details on the
new News Corporation – a global diversified media and information services
company uniquely positioned to take advantage of exciting growth opportunities
and new business models.”

The Form 10 is available on the SEC's website at www.sec.gov and at
http://www.newscorp.com/investor. News Corporation also filed today with the
SEC a preliminary proxy statement regarding a meeting of its stockholders to
consider amendments to the Company’s charter which will enable the
consummation of the separation.

About News Corporation

News Corporation (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) had total assets as of
September 30, 2012 of approximately US$60 billion and total annual revenues of
approximately US$34 billion. News Corporation is a diversified global media
company with operations in six industry segments: cable network programming;
filmed entertainment; television; direct broadcast satellite television;
publishing; and other. The activities of News Corporation are conducted
principally in the United States, Continental Europe, the United Kingdom,
Australia, Asia and Latin America.

Cautionary Statement Concerning Forward-Looking Statements

This document contains certain "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995. These statements are
based on management's views and assumptions regarding future events and
business performance, including its expectations with respect to the proposed
transaction. Actual results may differ materially from these expectations due
to changes in global economic, business, competitive market and regulatory
factors. In addition, actual plans, actions and results relating to the
proposed transaction may differ materially from current expectations as a
result of certain risks and uncertainties, including but not limited to:
unanticipated developments that delay or negatively impact the proposed
transaction; changes in market conditions; disruption to business operations
as a result of the proposed transaction; the inability to retain key
personnel; and the other risks and uncertainties described from time to time
in our filings with the Securities and Exchange Commission. More detailed
information about these and other factors that could affect future results is
contained in our filings with the Securities and Exchange Commission. There
can be no assurance that the proposed transaction will be completed as
anticipated or at all. The "forward-looking statements" included in this
document are made only as of the date of this document and we do not have any
obligation to publicly update any "forward-looking statements" to reflect
subsequent events or circumstances, except as required by law.

Participants in the Solicitation

The Company and its executive officers and directors may be deemed to be
participants in the solicitation of proxies from the stockholders of News
Corporation in connection with the proposed transaction, if pursued.
Information about the executive officers and directors of News Corporation and
their ownership of News Corporation common stock is set forth in the Schedule
14A and preliminary proxy statement for News Corporation's special meeting,
which was filed with the Securities and Exchange Commission on December 20,
2012.

Contact:

News Corporation
Nathaniel Brown, 212-852-7746
nbrown@newscorp.com
or
Dan Berger, 310-369-1274
dberger@newscorp.com