News Corporation Announces 21st Century Fox as New Name for Independent Media and Entertainment Company

  News Corporation Announces 21st Century Fox as New Name for Independent
  Media and Entertainment Company

Business Wire

NEW YORK -- April 16, 2013

News Corporation (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) today announced that
21st Century Fox will be the new name of the independent media and
entertainment company created by the proposed separation of its businesses.
The name, which will be effective with the separation, draws on the Company’s
creative heritage, while also speaking to the future as well as the innovation
that defines its portfolio of businesses. 21st Century Fox replaces the
previously announced name Fox Group.

Reaching more than a billion people in 100 local languages every day, the
proposed 21st Century Fox will be home to a global portfolio of cable and
broadcasting networks and properties, including FOX, FX, FXX, FS1, Fox News
Channel, Fox Business Network, Fox Sports, Fox Sports Network, National
Geographic Channels, Fox Pan American Sports, MundoFox and STAR; film studio
Twentieth Century Fox Film; and television production studios Twentieth
Century Fox Television and Shine Group. The proposed Company will also provide
premium content to millions of subscribers through its pay-television services
in Europe and Asia, including Sky Deutschland, Sky Italia and its equity
interests in BSkyB and Tata Sky.

Rupert Murdoch, who will serve as Chairman and CEO of the proposed 21st
Century Fox, commented on the Company’s new name:

“Over the years, we have built a global portfolio of companies that has
consistently defied conventional wisdom, and succeeded where others have
failed because we are driven by a steadfast belief in great ideas, the power
of imagination and the desire to thrill and engage audiences with enduring
stories and experiences. 21st Century Fox is a name that draws upon the rich
creative heritage of our film studio, while also speaking to the innovation
and dynamism that define all of our global media and entertainment businesses
and will guide us into the future.”

Chase Carey, the future company’s President and Chief Operating Officer,
commented, “Together, as 21st Century Fox, we will have the global footprint
and creative bench that give us a competitive edge across more than 50
countries. We believe that the 21st Century Fox name captures the power of our
legacy as well as the vast opportunities for our consumers, businesses and
investors as we look forward.”

News Corporation Separation

On June 28, 2012, News Corporation announced its intent to pursue the
separation of its business into two separate independent companies, one of
which will hold the Company’s global media and entertainment businesses and
the other which will hold the businesses comprising News Corporation’s
newspapers, information services and integrated marketing services, digital
real estate services, book publishing, digital education and sports
programming and pay-TV distribution in Australia. In addition to final
approval from the Board of Directors and stockholder approval of certain
amendments to the Company’s Restated Certificate of Incorporation, the
completion of the separation will be subject to receipt of regulatory
approvals, opinions from tax counsel and favorable rulings from certain tax
jurisdictions regarding the tax-free nature of the transaction to the Company
and to its stockholders, further due diligence as appropriate, the execution
of certain agreements relating to the distribution, and the filing and
effectiveness of appropriate filings with the SEC. There can be no assurances
given that the separation of the Company's businesses as described will occur.

About News Corporation

News Corporation (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) had total assets as of
December 31, 2012 of approximately US$63 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 preliminary proxy statement for News Corporation's special meeting, which
was filed with the Securities and Exchange Commission on April 4, 2013.

Contact:

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