News Corporation to Sell Stake in New Zealand’s SKY Network Television Limited

Sun Mar 3, 2013 4:40pm EST

* Reuters is not responsible for the content in this press release.

http://pdf.reuters.com/htmlnews/8knews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20130303:nBw035045a

SYDNEY, Australia--(Business Wire)--
News Corporation announced that its News Limited subsidiary will divest its 44%
stake in SKY Network Television Limited, New Zealand`s pre-eminent pay
television broadcasting service. 

News Limited has appointed Deutsche Bank to underwrite and, together with Craigs
Investment Partners, to manage, the sales of its SKY shares. It is expected that
the shares will be sold to a broad range of institutional and retail investors.
Following the sales, News Limited will no longer have any holding in SKY Network
Television Limited. 

Chase Carey, President and Chief Operating Officer, News Corporation said: "SKY
is a world class subscription television business and has been an outstanding
investment for News Corporation. We and SKY have always enjoyed an excellent,
arms-length working relationship and we expect this to continue unaffected by
the sale. In particular, we do not anticipate any change to current arrangements
regarding access to content and collaboration on technology." 

As a result of the sale, Michael Miller, Regional Director of News Limited, will
resign from the board of SKY. 

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.

News Corporation
Nathaniel Brown
nbrown@newscorp.com
212-852-7746
or
News Limited
Stephen Browning
+ 02 8114 7850
stephen.browning@news.com.au



Copyright Business Wire 2013

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