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

Tue Apr 16, 2013 4:23pm EDT

* 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:20130416:nBw166683a

NEW YORK--(Business Wire)--
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.

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

Copyright Business Wire 2013