News Corporation Sells Stake in Phoenix Satellite Television Holdings Limited

Fri Mar 22, 2013 9:17am EDT

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http://pdf.reuters.com/htmlnews/8knews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20130322:nBw225294a

HONG KONG--(Business Wire)--
News Corporation today announced its wholly-owned subsidiary Star Entertainment
Holdings Limited has agreed to sell an approximately 5.28 percent stake in
Phoenix Satellite Television Holdings Limited (Phoenix) for approximately USD92
million. Following the sale, Star Entertainment Holdings Limited`s total
ownership stake in Phoenix will be reduced to approximately 12.16 percent. 

James Murdoch, Deputy Chief Operating Officer and Chairman and CEO,
International, News Corporation, said, "Mr Liu Changle and Phoenix`s
accomplishments in the media industry in China are remarkable. We believe the
company`s strong position in all of the segments in which it operates, combined
with the country`s robust consumer market, will continue to drive growth.
Today`s sale is simply a part of our broader global agenda of simplifying our
affiliate ownership structures." 

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
Jannie Poon
+852 2621 8619
jpoon@newscorp.com



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