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21st Century Fox, NBCUniversal and The Walt Disney Company to Maintain Ownership Positions in Hulu

  21st Century Fox, NBCUniversal and The Walt Disney Company to Maintain
  Ownership Positions in Hulu

   Companies Make Commitment to Recapitalize Hulu with $750 Million in New
                       Funding to Propel Future Growth

Business Wire

NEW YORK & BURBANK, Calif. -- July 12, 2013

21st Century Fox, NBCUniversal and The Walt Disney Company today jointly
announced that they will maintain their respective ownership positions in Hulu
and together provide a cash infusion of $750 million in order to propel future
growth.

Launched in 2008, Hulu is now a leading aggregator of premium online
television content from over 400 content partners, and has achieved more than
30 million monthly unique visitors.

“Hulu has emerged as one of the most consumer friendly, technologically
innovative viewing platforms in the digital era. As its evolution continues,
Disney and its partners are committing resources to enable Hulu to achieve its
maximum potential,” said Robert A. Iger, Chairman and CEO, The Walt Disney
Company.

“We believe the best path forward forHuluis a meaningful recapitalization
that will further accelerate its growth under the current ownership
structure,” said Chase Carey, President and Chief Operating Officer of 21st
Century Fox. “We had meaningful conversations with a number of potential
partners and buyers, each with impressive plans and offers to match, but with
21st Century Fox and Disney fully aligned in our collective vision and goals
for the business, we decided to continue to empower theHuluteam, in this
fashion, tocontinue the incredible momentum they've built over the last few
years.”

Hulu launched its premium subscription service, Hulu Plus, in 2010, which has
now surpassed four million subscribers after more than doubling in 2012. Hulu
achieved record revenues of $690 million that same year.

About 21st Century Fox

21st Century Fox (NASDAQ: FOX, FOXA; ASX: FOX, FOXLV) is the world's premier
portfolio of cable, broadcast, film, pay TV and satellite assets spanning six
continents across the globe. Reaching nearly 1.5 billion subscribers in 100
local languages every day, 21st Century Fox is 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 Company also provides 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.

About NBCUniversal

NBCUniversal is one of the world’s leading media and entertainment companies
in the development, production, and marketing of entertainment, news, and
information to a global audience. NBCUniversal owns and operates a valuable
portfolio of news and entertainment television networks, a premier motion
picture company, significant television production operations, a leading
television stations group, world-renowned theme parks, and a suite of leading
Internet-based businesses. NBCUniversal is a subsidiary of Comcast
Corporation.

About The Walt Disney Company

The Walt Disney Company (NYSE: DIS), together with its subsidiaries and
affiliates, is a leading diversified international entertainment and media
enterprise with five business segments: media networks, parks and resorts,
studio entertainment, consumer products and interactive media. Disney is a Dow
30 company and had annual revenues of $42.3 billion in its Fiscal Year 2012.
Disney has a market capitalization approaching $120 billion.

Contact:

21st Century Fox
Dan Berger, 310-369-1274
or
The Walt Disney Company
Zenia Mucha, 818-560-5300
or
Kevin Brockman, 818-460-6655
 
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