News on News - Corporate News

Arbitron Announces the Departure of Chief Financial Officer

Wed, 11 Apr 2012 20:57:36 +0000

Arbitron Inc. (NYSE: ARB) has announced that Richard J. Surratt will be leaving the company for personal reasons.

Mr. Surratt will continue as Chief Financial Officer through May 11, 2012 and will remain as an employee of the company through June 8, 2012.

Sean R. Creamer, in addition to his current responsibilities as executive vice president, Chief Operating Officer, will take on the role of interim Chief Financial Officer upon Mr. Surratt's resignation.

Arbitron has engaged the firm of Crist|Kolder Associates to conduct the search for a new chief financial officer.

"I want to thank Richard for his contributions to Arbitron and wish him well," said Bill Kerr, President and Chief Executive Officer, Arbitron Inc.

Sean Creamer was executive vice president, Chief Financial Officer of Arbitron from November 2005 through February 2011. He was named executive vice president, Chief Operating Officer in August 2011.

James Murdoch Steps Down as Executive Chairman, News International to Focus on Expanding International TV Businesses

Wed, 29 Feb 2012 20:00:42 +0000

NEW YORK--(BUSINESS WIRE)-- News Corporation today announced that, following his relocation to the Company’s headquarters in New York, James Murdoch, Deputy Chief Operating Officer, has relinquished his position as Executive Chairman of News International, its UK publishing unit. Tom Mockridge, Chief Executive Officer of News International, will continue in his post and will report to News Corporation President and COO Chase Carey.

“We are all grateful for James' leadership at News International and across Europe and Asia, where he has made lasting contributions to the group's strategy in paid digital content and its efforts to improve and enhance governance programs,” said Rupert Murdoch, Chairman and Chief Executive Officer, News Corporation. “He has demonstrated leadership and continues to create great value at Star TV, Sky Deutschland, Sky Italia, and BSkyB. Now that he has moved to New York, James will continue to assume a variety of essential corporate leadership mandates, with particular focus on important pay-TV businesses and broader international operations.”

“I deeply appreciate the dedication of my many talented colleagues at News International who work tirelessly to inform the public and am confident about the tremendous momentum we have achieved under the leadership of my father and Tom Mockridge,” said James Murdoch. "With the successful launch of The Sun on Sunday and new business practices in place across all titles, News International is now in a strong position to build on its successes in the future. As Deputy Chief Operating Officer, I look forward to expanding my commitment to News Corporation’s international television businesses and other key initiatives across the Company.”

About News Corporation

News Corporation (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) had total assets as of December 31, 2011 of approximately US$60 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.

Contacts

News Corporation
Jack Horner, 212-852-7952

Source: News Corporation

View this news release online at:
http://www.businesswire.com/news/home/20120229005866/en

News Corporation Names Gerson Zweifach Senior Executive Vice President

Tue, 10 Jan 2012 20:54:01 +0000

News Corporation has announced the appointment of Gerson Zweifach, 58, a partner at Williams & Connolly LLP, to Group General Counsel effective February 1, 2012.

Mr. Zweifach will become a Senior Executive Vice President of the Company and will report to Rupert Murdoch, Chairman and Chief Executive Officer of News Corporation.

In his more than three decades at Williams & Connolly, Mr. Zweifach's litigation practice has covered a wide variety of substantive areas including significant media and first amendment cases, as well as patent, antitrust and securities matters. He has handled a number of high profile cases as both plaintiff's and defendant's counsel in courts throughout the U.S., including representing Richard A. Grasso in Spitzer v. Grasso in the New York state courts.

Commenting on Mr. Zweifach's appointment, Mr. Murdoch said: "We are fortunate to have such a renowned attorney join our Company as we navigate the rapidly changing media landscape. Throughout his distinguished career, Gerson has earned a reputation as one of the nation's leading litigators and a staunch protector of the First Amendment. This coupled with his wide-ranging experience and exceptional leadership skills will prove invaluable to News Corporation's global business.

I remain grateful to my long-standing colleague, Janet Nova, for handling our legal issues so deftly as Interim General Counsel for the past six months and am pleased that she will continue to play an integral role on our legal team."

Mr. Zweifach commented: "I could not be more thrilled to join the leader in global media at such a pivotal time in its history. It would be hard to imagine a more compelling opportunity to have far-reaching impact across a variety of legal issues and challenges. I look forward to working in concert with Rupert and News Corporation's businesses, to help ensure the best possible return to all of the company's stakeholders."

Mr. Zweifach is a graduate of Brown University, where he graduated magna cum laude and was elected to Phi Beta Kappa, and Yale Law School, where he was elected to the Law Journal. He is a member of the District of Columbia and New York Bars. Zweifach is married to Jacqueline Zins and has two children.

Sinclair Broadcast Group Completes Acquisition of Four Points Television Stations

Sat, 07 Jan 2012 11:16:54 +0000

Sinclair Broadcast Group, Inc. (Nasdaq: SBGI) has announced that it has closed the asset acquisition of Four Points Media from affiliates of Cerberus Capital Management, L.P. for $200 million.

The Company financed the acquisition with a $180 million draw under a recently raised incremental Term B Loan commitment under its amended Bank Credit Facility plus a $20 million cash escrow previously paid.

Sinclair had been operating the Four Points TV stations since October 1, 2011, pursuant to a Local Marketing Agreement, while it awaited FCC approval.

In addition, the parties agreed to an effective closing date of January 1, 2012.

The Four Points TV stations acquired are:

KUTV (CBS 2) Salt Lake City, Utah (DMA 32)
KMYU (MNT 9) Salt Lake City, Utah (DMA 32)
KEYE (CBS 42) Austin, Texas (DMA 44)
WTVX (CW 34) West Palm Beach/Fort Pierce, Florida (DMA 38)
WTCN-CA (MNT 50) West Palm Beach/Fort Pierce, Florida (DMA 38)
WWHB-CA (AZTECA 48) West Palm Beach/Fort Pierce, Florida (DMA 38)
WLWC (CW 28) Providence, Rhode Island/New Bedford, Massachusetts (DMA 53)

SoundExchange Contributes to Music Industry Growth With Highest-Ever Quarterly Distribution

Sat, 29 Oct 2011 16:39:32 +0000

SoundExchange has announced that it has distributed nearly $88 million to more than 18,300 payees designated by recording artists and labels during the third quarter of 2011.

SoundExchange is the non-profit performance rights organization (PRO) that was appointed by the Copyright Royalty Board to collect and distribute statutory performance royalties owed to recording artists and sound recording copyright owners. The quarterly distribution, SoundExchange's largest to date, includes royalties paid by Internet radio, satellite radio and cable TV music-only channels.

The announcement comes days after global research publication Music & Copyright reported that SoundExchange is the "global leader" in the collection and distribution of sound recording performance royalties. Total distributions made by SoundExchange in 2010 were $249.2 million, up from $155.5 million in 2009.

"We've processed an unprecedented amount of digital performance data this quarter, which is proof positive that consumers are listening, purchasing and enjoying music in more ways than ever," said SoundExchange President Michael Huppe. "These payments are the result of billions of digital performances by thousands of music services every month. It is our responsibility to ensure that this upsurge of digital performances can be converted into a reliable revenue stream for those who created the music."

SoundExchange's continued investment in world-class technical expertise has been critical in ramping up the organization's ability to ingest and process high volumes of data. In addition to the accomplishments of the SoundExchange staff, the distribution was aided by the help of the very artists and labels who are receiving these payments. SoundExchange's claims processing program permits copyright owners to claim tracks that have been reported without sufficient data. Through the claims program, artists and labels help SoundExchange as well as themselves by ensuring the organization has accurate metadata for recordings. Fully $15 million of the quarter's payouts were the result of claims and adjustments.

Artists and copyright owners are encouraged to learn more and register to receive royalties for their work at http://www.SoundExchange.com

Ofcom Invites Comments on Measuring Media Plurality

Fri, 21 Oct 2011 11:56:20 +0000

Ofcom has today invited comments on measuring media plurality, following a request to consider this area by the Secretary of State Jeremy Hunt.

At the end of last year, in our report on the public interest test on the proposed acquisition of British Sky Broadcasting Group by News Corporation, Ofcom suggested that possible reform of the current framework around plurality may be required.

Jeremy Hunt, the Secretary of State for Culture, Olympics, Media and Sport, has written to Ofcom and asked us to assess how practical it would be to set limits on media ownership to protect plurality. He also asked Ofcom to recommend a framework for measuring plurality across different media.

Parliament has seen it as important to safeguard plurality because of an organisation’s ability to influence opinions and set the political agenda if it has too much control of the media. Our findings will be provided to the Secretary of State and given as evidence to the Leveson Inquiry by June 2012.

Current plurality rules

Currently, there is a range of rules in place to safeguard plurality. These include the media public interest test, which can be triggered on the grounds of plurality when there is a merger between media enterprises. Other rules include restrictions on national cross-media ownership.

Questions for comment

We are inviting comments on the questions we have been asked by the Secretary of State, including:

- What are the options for measuring media plurality across platforms? What do you recommend is the best approach?
- Is it practical or advisable to set absolute limits on news market share?
- What could trigger a review of plurality in the absence of a merger, how might this be monitored and by whom?
- Could or should a framework for measuring levels of plurality include websites and if so which ones?
- Whether or how it should include the BBC?

Ofcom has started work to respond to these questions and we would like to provide any interested parties with the opportunity to comment. Ofcom invites written submissions by 18 November 2011.

Global Publishing Appoints Tracie London as Creative Director

Mon, 26 Sep 2011 07:12:55 +0000

Global Publishing has appointed music industry heavyweight Tracie London as Creative Director with immediate effect.

The newly created position, will see London heading up synchronisation - to maximise opportunities for Globals’ artists and writers- in all areas including advertising, TV, film and events.

London joins Global with over 24 years experience in the music industry, having worked with some of the biggest names in the business during her time at Universal, Chrysalis, BMG, Virgin and Polydor.

Based at Global’s Leicester Square HQ, London will report to Miller Williams, Global Publishing’s MD.

Miller Williams said: “Global Publishing is thriving and Tracie’s appointment provides commitment to our artists and gives a strong indication of our ambition for further growth.

Tracie is one of the industry’s most successful sync professionals, and we look forward to working with her.”

Tracie London said: “Global Publishing is an exciting company, with huge opportunities. I’m looking forward to joining the team.”

Ashley Tabor, Global Founder and Executive President said: "Tracie brings focus and experience to Global Publishing, building on its recent successes in the UK and internationally, and I'm delighted to welcome her to the Global family."

Scripps Consolidates All Digital Efforts Into a Single Organization

Mon, 19 Sep 2011 21:26:21 +0000

The E.W. Scripps Company (NYSE: SSP) has launched a reorganization of its digital operations, pulling all resources under one umbrella in a move to accelerate the launch of new products and services for quickly evolving digital platforms.

"We're reorganizing and focusing our resources to ensure that our digital-platform consumers and advertisers in Scripps markets across the country are offered the very best products and services," said Rich Boehne, Scripps president and chief executive officer. "This new structure will result in better products, faster development, more efficiencies and improved financial performance while staying true to the Scripps mission of building value through enterprise journalism and public service."

Leading the new organization as vice president, chief digital officer will be Adam Symson, 36. Reporting directly to Boehne, he will continue to be based in Cincinnati while working with corporate resources as well as digital leaders of the company's 13 daily newspapers and 10 television stations.

Symson began his career as a journalist. He was an investigative producer at CBS stations in Chicago and Los Angeles as well as the Scripps ABC affiliate in Phoenix before joining the Scripps corporate office in 2003 to be the director of investigative reports and special projects in the television division. He later became the division's director of news strategy and operations before being named director of content and marketing in the Scripps interactive media division (which was spun off as part of Scripps Networks Interactive in 2008).

He was then named vice president of interactive for the Scripps television division, where he has helped the company's stations develop the design, content and financial performance of their Web sites. He has led numerous other digital initiatives for the stations, including devising strategies for the stations' mobile apps. Less than two weeks ago, Symson announced that Scripps would be the first operator in the country to offer group-wide live streaming through mobile apps.

"We have very talented people running the interactive activities at our newspapers and TV stations, and I'm eager to spur the kind of collaboration that gets real results," said Symson. "We'll continually improve our current news sites and apps while also pursuing a few initiatives that aren't tied to our core businesses. We have the drive and the people to tackle big ideas, and I think this combined organization will help Scripps make a lot of noise in the digital arena."

Tribune Broadcasting Names Veteran Media Executive Bob Cook as Strategic Advisor

Sat, 10 Sep 2011 12:23:48 +0000

Tribune Broadcasting has announced that veteran media executive Bob Cook will serve as a strategic advisor, reporting to the division's CEO and President, Nils Larsen.

Cook will work with the division's management team in a variety of areas, including strengthening and expanding its sales efforts, developing and distributing original programming, and generally advancing the company's businesses.

"Bob brings not only a long and distinguished record of accomplishment, he also brings a fresh perspective and a variety of new and interesting ideas about where the industry is heading and how we should position our broadcast operations for long-term success," said Larsen. "I'm excited to have Bob join our team and I look forward to working with him."

Through his advisory company MBN Inc., Cook works with top-tier entertainment companies to help market to and acquire content for broadcast and cable networks, local TV stations, emerging digital channels, and advertising agencies. Before establishing MBN, Cook was president of Twentieth Television, the syndication sales/production arm for News Corporation's broadcast and cable operations at Fox Television. For nearly a decade under his leadership, Twentieth Television enjoyed sales and profits that were the highest in its history, exceeding $1 billion in annual sales.

"Tribune Broadcasting has an outstanding collection of assets in the country's top markets and a talented, first-rate team that is envied across the industry," said Cook. "There is a lot of opportunity for Tribune Broadcasting and I am thrilled to be helping the company."

During his career Cook has launched or spearheaded innovative sales and marketing efforts of approximately 140 television programs comprised of first run syndication, network, off-network syndication and motion pictures, as well as some of TV's most recognizable programs including "Family Guy," "How I Met Your Mother," "Married With Children," "The Practice," "Hollywood Squares," "COPS," "America's Most Wanted," "King of the Hill," "Wheel of Fortune," "Jeopardy," and the three most successful off-net series in syndication history: "Seinfeld," "Everybody Loves Raymond," and "The Simpsons."

Cook has also pioneered a host of creative and strategic initiatives in cable and broadcast sales, advertising sales and marketing that have resulted in enormous ratings success and over $10 billion dollars in revenue. Throughout his 35-year career, Cook has won numerous awards for his work; he was inducted into the Broadcasting & Cable Hall of Fame in October, 2008.

CDN and BCIDN Merge to Focus on Diversity and Identity in Television

Wed, 07 Sep 2011 09:09:59 +0000

The Cultural Diversity Network and the Broadcasting and Creative Industries Disability Network (BCIDN) have combined to become the Creative Diversity Network (CDN).

The formal merger took place on Tuesday 6 September, with a new name to reflect the CDN's remit.

Clare Morrow, BCIDN Network Manager, was one of a number of speakers at the event to mark the official name change. She said: "Disability is now at the heart of the diversity agenda for all the UK's main television companies, thanks to their collective work through the Broadcasting and Creative Industries Disability Network. This is the right time for all strands of diversity to come together, and I'm confident the Creative Diversity Network's efforts to ensure that British television is truly representative of all sectors of the population will mean the part disabled people play in the industry continues to grow."

Mark Thompson, Chair of the CDN, said: "We're pleased to be marking this merger, as the work of the two organisations has been converging for some time. The great work started by the BCIDN will continue, and disability will remain firmly on the agenda. The newly formed Creative Diversity Network will maintain a strong focus on ethnicity, but will have a broader remit than previously to include all aspects of diversity . This broader focus is reflected in the CDN’s new five year strategy which has been signed off just this week and provides a clear steer for action across the industry."

The Creative Diversity Network strategy sets out five key priorities for the next five years:

To make the business case for diversity – including for example through more intelligent use of industry data and research
Promoting diverse talent – for example through re-focusing the Diversity Awards and creating opportunities for talent
Prioritising new aspects of diversity – such as disability, age and gender and a more nuanced approach to ethnicity
Communications – including raising the profile of the CDN and improving stakeholder engagement
Delivery – exploring various options and delivery models to help maximise resources and support CDN activity to achieve real outcomes

The CDN steering group is made up of BBC, Channel 4, S4C, ITV, ITN, Sky, Pact, BAFTA, Viacom International Media Networks, Turner Broadcasting and Media Trust.

Jim Breyer Nominated for Election to Board of News Corp

Sun, 04 Sep 2011 13:05:42 +0000

News Corporation has announced that James W. Breyer, 50, has been nominated to join the Board of Directors and will stand for election at the Company's Annual Meeting of Stockholders on October 21, 2011 in Los Angeles, CA.

Commenting on the nomination, Chairman and Chief Executive Officer Rupert Murdoch said, "Jim has a remarkable track record in the investment community and his background in media and technology will enable him to make significant contributions to News Corporation's Board."

Mr. Breyer is a Partner of Accel Partners, a leading global venture capital firm, and has been an investor in numerous successful consumer internet, media, and technology companies. In April 2011, Forbes placed Mr. Breyer in the number one spot on its Midas List of top technology investors. He currently serves on the Boards of Directors of Wal-Mart Stores, Inc., where he is the Presiding Independent Director, and Dell Inc. where he is the Chairman of the Finance Committee. He served on the Board of Marvel Entertainment, Inc. up until its acquisition by Disney. At Marvel, he was the founding Chairman of the Strategic Planning Committee. Mr. Breyer is also a lead investor/director in several privately-held companies, including Facebook, Brightcove and Legendary Pictures.

"I consider it a privilege to be nominated and I am excited about the prospect of joining News Corp.'s distinguished Board at this exciting time in the Company's history," said Mr. Breyer.

News Corporation also announced that Directors Kenneth E. Cowley and Thomas J. Perkins will no longer serve on the Board after the upcoming Annual Meeting.

"We thank Ken and Tom for their years of service on the News Corporation Board and sincerely appreciate the critical insights they provided. We will miss them both and wish them continued success," said Mr. Murdoch.

Mr. Cowley has served on the News Corporation Board since 1979 and had a long and distinguished career at the Company. He first joined News Corporation in 1964 as part of a team that launched "The Australian", Australia's first and only national daily broadsheet. He served in a number of senior executive roles at News Limited, including Chairman and CEO from 1980 to 1997. He is currently executive chairman of RM Williams Holdings Pty Limited.

Mr. Perkins has been a Board Director since 1996. He is the founding partner of Kleiner Perkins Caufield & Byers, a prominent venture capital company.

Bloomberg Loses in Attempt to Get Analyst Call Case Dismissed

Thu, 01 Sep 2011 15:15:01 +0000

Bloomberg LP lost a bid to dismiss a lawsuit by Swatch Group AG that accused the news service of secretly recording an earnings conference call with securities analysts and giving a transcript to clients.

Moira Herbst of Reuters writes, “Swatch accused Bloomberg of tapping into its Feb. 8 earnings call and providing a transcript that day to online subscribers, without permission in both cases.

“The world’s largest watchmaker said this occurred after it told listeners at the beginning of the call not to record it for publication or broadcast.

“Swatch sought a court order directing Bloomberg to destroy its copies of the recording and transcript, as well as damages and other remedies for alleged ‘willful’ infringement.

“Bloomberg countered that Swatch had an obligation to be transparent and disclose financial performance information to everyone rather than select analysts.”

Verizon's Striking Union-Represented Employees to Return to Work

Mon, 22 Aug 2011 08:12:57 +0000

Verizon Communications has announced that its 45,000 wireline employees in nine Northeastern states and the District of Columbia who are represented by the CWA and IBEW will return to work beginning Monday night, Aug. 22, without new collective bargaining agreements.

Verizon and the unions have made headway in negotiating a number of local and regional issues, and the parties have agreed on a process for moving forward to negotiate the major issues regarding benefits, cost structure, work flexibility and job security.

Verizon said the wireline employees now on strike would be working under the terms of the contracts that expired on Saturday, Aug. 6. The contracts will be extended with no specific deadline for achieving new collective bargaining agreements so that the parties can take the time required to resolve the critical issues.

Marc Reed, Verizon's executive vice president of human resources, said, "We agreed to end the strike because we believe that is in the best interest of our customers and our employees. We remain committed to our objectives, and we look forward to negotiating the important issues that are integral to the future health of Verizon's wireline business."

He added: "We are grateful to our management team for their leadership during the past 14 days in so ably meeting the needs of our customers. The team's competence, dedication and hard work enabled us to withstand the strike without significant disruption to customer service, and to convince the unions to begin bargaining with us in good faith. The fortitude and efforts of our managers have proven to be our strongest point of leverage in bargaining. We are pleased that during this stressful economic period our union-represented employees will be back at work earning good wages and benefits while serving our customers."

With its union-represented employees back at work, Verizon plans to quickly address any backlog in repairs and unfulfilled requests for service.

Verizon's Landline Operations Performing Solidly

Sun, 14 Aug 2011 10:49:35 +0000

Verizon continues to provide solid service on day five of a strike by the Communications Workers of America and the International Brotherhood of Electrical Workers, answering customers' calls, performing general customer service and responding to an increasing number of incidents of sabotage.

Discussions continue today between Verizon and the CWA and IBEW. The discussions are being held in Rye Brook, N.Y., and Philadelphia, Pa.

The company's call centers answered 91 percent of incoming calls on Wednesday (Aug. 10), and Verizon management employees have repaired dozens of acts of sabotage to its network facilities since Aug. 6. In the face of adverse conditions, Verizon managers continue to increase their productivity while focusing on restoring customers' service.

"Our management team is doing an outstanding job of serving customers despite some strikers' attempts to obstruct our efforts," said Bob Mudge, Verizon president of consumer and mass markets. "We are committed to meeting customers' needs, and we're hearing from many of them that we're doing just that."

Verizon has received dozens of calls, emails and notes online thanking the company and its employees for responding to their customer service issues. One customer, Eric from Massachusetts, wrote: "I just wanted to send a quick 'Thank you' to you and your teams that restored service to our neighborhood earlier today. It's nice to see management can still do the jobs of their regular associates. Hats off for a job well done."

Since Aug. 6, Verizon crews have encountered more than 90 acts of sabotage against network facilities. These acts temporarily affected service to thousands of customers across the Mid-Atlantic and Northeast, including police stations and other emergency responders. In most of these cases, crews restored service within 24 hours.

In addition, the company has received numerous reports of union picketers intimidating drivers and illegally blocking garage and work center entrances. These incidents have created dangerous and disruptive work environments both for employees attempting to provide support to Verizon customers and for the picketers themselves.

The company has obtained injunctions that prevent intimidation and illegal blocking of facilities in Delaware, New York and Pennsylvania, and is in court today to obtain injunctions in Massachusetts and New Jersey.

In one example of illegal picketing, a YouTube video posted to a union local website showed a union picketer placing his young daughter in front of a Verizon truck to illegally block working employees from returning to a company work center in New Jersey. The union picketer also used extremely profane language to intimidate the employees while his daughter looked on and other picketers encouraged him. The video was removed after widespread media exposure.

In another incident, six picketers were arrested by Baltimore County police earlier this week for illegally blocking an entrance at a Verizon facility in Randallstown, Md.

"Verizon urges strikers to express their views in peaceful fashion and in accordance with the law," said Verizon's Chief Security Officer Mike Mason. "Some are engaging in criminal intimidation of Verizon employees, and we will not tolerate that. It's a federal offense to damage or destroy critical communications equipment.

"We are investigating all reports of illegal behavior toward our employees and our customers, and we are taking appropriate disciplinary and judicial action against those involved," said Mason.

The company is working with the Federal Bureau of Investigation, including the local New Jersey field office, to investigate these acts of sabotage. The company also is offering a reward of up to $50,000 for information leading to the arrest and prosecution of individuals who intentionally damage Verizon cables or facilities or cause or attempt to cause physical injury to any Verizon employee or contractor. Verizon urges anyone who witnesses sabotage of Verizon property or any suspicious activity to call 911 immediately, and then call the Verizon Security Control Center at 1-800-997-3287.

Elizabeth Murdoch Ruled Out of Joining News Corp Board

Sat, 06 Aug 2011 08:59:07 +0000

News Corp Chairman of the Nominating Committee Viet Dinh, has announced that Elisabeth Murdoch will not be included on this year's nomination list.

In a statement, Dinh said;

"Elisabeth Murdoch suggested to the independent directors some weeks ago that she felt it would be inappropriate to include her nomination to the board of News Corp at this year's AGM, as had been announced by Chairman and CEO Rupert Murdoch at the time of the acquisition of Shine Group earlier this year.

"The independent directors agreed that the previously planned nomination should be delayed.

"Both Elisabeth and the Board hope this decision reaffirms that News Corp. aspires to the highest standards of corporate governance and will continue to act in the best interests of all stakeholders, be they shareholders, employees or the billions of consumers whom News Corp. content informs, entertains and sometimes provokes every year."

Sky Broadband Announces Most Successful Year Yet

Mon, 01 Aug 2011 10:15:46 +0000

In announcing its full-year results today, Sky has confirmed that another 174,000 customers joined Sky Broadband in the three months to 30th June, taking the total number of customers joining in the last year to 711,000.

This is Sky’s highest growth rate in three years and confirms Sky’s on-going status as the UK’s fastest-growing ISP. Sky Broadband now connects to more than 3.3 million homes, which means that on average 77 new customers have joined Sky Broadband every hour of every day in the five years since launch in July 2006.

In addition to Sky TV homes being able to save money by switching their broadband to Sky, the company’s Broadband and Talk services are also now available standalone to any UK home. Having launched in summer 2010, more than 100,000 customers are already benefitting from the quality, freedom and value of Sky Broadband. In launching a standalone service, Sky is able to reach out to more potential customers while taking further advantage of its high-capacity unbundled network.

During the last year Sky has also undertaken significant investment in its network, particularly in relation in relation to additional exchange unbundling. The Sky Broadband network now reaches 79% of all UK homes, all of whom are able to benefit from truly unlimited broadband and fast and reliable connections free from traffic management or fair use policies. Sky is also confirming today its plans to unbundle a further 400 telephone exchanges, to grow its network footprint to 83% of UK homes. Sky continues to offer a wholesaled product from BT to all homes not currently on its own network.

And to complement this strong foundation in fixed line broadband, Sky will next year integrate The Cloud, the UK’s largest public Wi-Fi network into its offering, so that customers can enjoy quality broadband connectivity even while they are on the move. In the quarter, The Cloud reached more than 5,000 Wi-Fi hotspots, with major new clients wins including Pizza Express and Virgin Active.

Responding to customer demands:

Having invested more than £1 billion to create more competition, choice and value in the broadband market, Sky has built its unbundled broadband products around the combination of factors that are most important to customers:

Freedom: no usage caps or fair use policies – providing truly unlimited broadband.
Consistency: with no traffic management policies, Sky doesn’t slow customers down at
peak times.
Speed: downloads as fast as a customer’s line will go.
Value: truly unlimited broadband from £7.50 a month with Sky TV and Sky Talk.

A platform for innovation:

Sky’s state-of-the-art network was built with entertainment in mind – making it ideally suited to the delivery of high bandwidth video content. And its high-capacity network is free from traffic management and usage caps. This means:

It’s ideally placed to support Sky’s own online content services, including Sky Go and Sky Anytime⁺.
It allows Sky homes to harness the role of broadband connectivity to unlock the power of Sky’s hybrid network – digital satellite, local storage (Sky⁺) and internet connectivity.
And having fully launched this Easter, more than 800,000 customers have already connected their set-top boxes to Sky Broadband, to enjoy Anytime⁺, a comprehensive video-on-demand service.

Sky has also expanded its unbundled network to cover more than 79% of the UK, giving even more customers the opportunity to enjoy Sky Broadband’s on-network services.

Broadband connectivity on the go

From next year, Sky Broadband customers will be able enjoy a high-quality and reliable out-of-home broadband experience thanks to the integration of the UK’s largest public Wi-Fi network, The Cloud.

Available in pubs, restaurants, gyms, hotels and other public spaces, The Cloud offers reliable mobile broadband access. During the last three months, The Cloud’s network reached the 5,000 Wi-Fi hot-spot milestone, and is set to significantly increase throughout the remainder of this year prior to being offered to Sky customers as part of their Sky subscriptions.
Recent customer wins include Pizza Express and Virgin Active.
This network will provide Sky customers with the ideal environment to access Sky’s range of innovative apps – including Sky+ and Sky News for iPad – as well as Sky Go, which offers all Sky customers the opportunity to watch Sky TV on their laptops, iPads and iPhones.

Stephen van Rooyen, Deputy MD of Sky’s Customer Group, comments: "Broadband customers are voting with their feet. The vast majority simply want a reliable, unlimited service that offers genuine value for money. By listening to what customers really want, we have enjoyed our fastest growth in three years.

"There are still millions of Sky TV homes who could save money by switching their home phone and broadband to Sky as well. Given the strength of our products and brand, we think there is a big opportunity to grow our new standalone services too.

"Sky Broadband’s network was built to deliver a better entertainment experience. Our customers have responded not only to the freedom, transparency and quality of our services, but also to the experiences that they provide access to, like Sky Anytime+ and Sky Go. And with mobile connectivity arriving next year through The Cloud, customers are set to enjoy even more value from their Sky Broadband experience."

News Corporation Names Andrea Zappia Chief Executive Officer of Sky Italia

Mon, 01 Aug 2011 09:45:00 +0000

LONDON--(BUSINESS WIRE)-- News Corporation today announced the appointment of Andrea Zappia to the role of Chief Executive Officer of Sky Italia. Mr Zappia, currently Managing Director, Customer Group, BSkyB, will assume responsibility for his new role with immediate effect. Mr Zappia replaces Tom Mockridge who left Sky Italia in July to become Chief Executive, News International.

Mr Zappia joined BSkyB in February 2010 to lead the company’s sales, marketing and customer operations teams, with responsibility for customer acquisition and retention across BSkyB’s range of pay TV, broadband and home telephony products. Prior to BSkyB, he spent seven years at Sky Italia, latterly as Vice President, Sports Channels. Between 2003 and 2007, Mr Zappia was Vice President, Marketing, Promotion and Business Development at Sky Italia, reporting to Mr Mockridge, with responsibilities that included customer acquisition and brand marketing.

Previously, Mr Zappia held a variety of senior marketing roles at Ferrari, Fila and Procter & Gamble.

James Murdoch, Deputy Chief Operating Officer and Chairman and CEO, International, News Corporation, said: “I am delighted that Andrea is to return to Sky Italia, given he played such a key role in the team that has laid the foundations for its success. Andrea is a world-class executive with a breadth of experience across a range of roles, covering operations, sports, marketing, broadband and branding, and a range of sectors. I look forward very much to working with him as we take Sky Italia into its next phase of development.”

News Corporation (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) had total assets as of March 31, 2011 of approximately US$60 billion and total annual revenues of approximately US$33 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.

Contacts

News Corporation
Miranda Higham, +44 (0) 20 7782 6462

Source: News Corporation

View this news release online at:
http://www.businesswire.com/news/home/20110801005694/en

News Corp Management and Standard's Committee Publishes Terms of Reference

Sat, 23 Jul 2011 12:10:01 +0000

News Corporation's Management and Standards Committee (MSC) has published its Terms of Reference (ToR).

The MSC is authorised to co-operate fully with all relevant investigations and inquiries in the News of the World phone hacking case, police payments and all other related issues across News International, as well as conducting its own enquiries where appropriate.

The ToR are set out below:

News Corporation

Terms of reference of Management and Standards Committee (MSC)

News Corporation hereby authorises the MSC to have oversight of, and take responsibility for, all matters in relation to the News of the World phone hacking case, police payments investigation and all other connected issues at News International (NI).

These include, but are not limited to, the police enquiries, civil proceedings, Parliamentary proceedings, Lord Justice Leveson’s public inquiry and the PCC.

The MSC shall ensure full co-operation with all relevant investigations and is authorised to conduct whatever internal investigations it thinks fit to enable it to carry out its role in relation to all NI papers.

The MSC has powers to direct full co-operation from NI personnel with all external and internal investigations and to preserve, obtain and disclose appropriate documents.

The MSC will review existing compliance systems and will recommend, and oversee the implementation of, new policies, practices and systems designed to create an updated and robust governance, compliance and legal structure for NI.

The MSC will report directly to Joel Klein, Executive Vice President and News Corporation board director, who continues to have executive authority over these matters. Joel Klein shall in turn report in this role directly to Viet Dinh, an independent director and Chairman of News Corporation’s Nominating and Corporate Governance Committee. Joel Klein and Viet Dinh shall keep the News Corporation board of directors advised, as appropriate.

As already announced, the Chairman of the MSC is Lord Grabiner QC. The full-time Executive Members of the MSC are William Lewis and Simon Greenberg. Jeffrey Palker continues in his role as News Corporation’s General Counsel for Europe and Asia as well as being an Executive Member of the MSC.

Linklaters has been appointed as legal adviser to the MSC.

The MSC is authorised to retain such other professional advisers as it thinks fit.

News Corporation Completes Sale of News Outdoor Russia and News Outdoor Romania

Fri, 22 Jul 2011 10:00:00 +0000

LONDON--(BUSINESS WIRE)-- News Corporation today announces that it has completed the sale of its 79 percent stake in News Outdoor Russia and News Outdoor Romania to a group of investors led by VTB Capital. The two other investors are NOOH Investments Coöperatief U.A., representing Peter Gerwe, and Marathon Outdoor Coöperatief U.A., which is managed by Alfa Capital Partners. Management has retained its 21 percent holding in the business.

News Outdoor Russia is the largest outdoor advertising company in the country with billboards in more than 50 cities.

This transaction completes News Corporation’s divestment of its outdoor advertising business, with the exception of News Outdoor Czech Republic.

Contacts

News Corporation
Miranda Higham, +44 (0) 20 7782 6462

Source: News Corporation

View this news release online at:
http://www.businesswire.com/news/home/20110722005184/en

Mark Aitken Promoted to Vice President of Advanced Technology at SBG

Thu, 21 Jul 2011 13:01:11 +0000

Sinclair Broadcast Group, Inc. (Nasdaq: SBGI) announced that Mr. Mark Aitken has been promoted to Vice President of Advanced Technology for Sinclair Television Group.

The announcement was made by Mr. David Smith, President and Chief Executive Officer of Sinclair.

In making the announcement, Mr. Smith said, "This is a well-deserved promotion for Mark, an undisputed industry leader in the broadcast technology arena. His work with the ATSC on the mobile DTV standard and the Open Mobile Video Coalition was crucial in developing a mobile digital television standard for the American television broadcast industry. We are proud of Mark's role in providing our industry the opportunity to develop a usable mobile technology. Our industry now stands at a crossroad. As broadcasters, we have a greater responsibility to our communities, and we are confident that Mark's continued efforts will contribute to us fulfilling those obligations."

Mr. Aitken joined Sinclair Broadcast Group in April 1999 and most recently served as Director of Advanced Technology, where he was responsible for representing Sinclair's interests in industry technical and standards issues, DTV implementation (HDTV and mobile) and representing Sinclair within the ATSC, OMVC, Mobile500 and other industry related organizations. Mr. Aitken is the Chairman of ATSC TSG/S4, the specialist group responsible for Mobile DTV standardization, and has been involved in the broadcast industry's migration to advanced services since 1987 when he first became involved with the FCC's ACATS (Advisory Committee on Advanced Television Service) activities. Prior to joining Sinclair, Mr. Aitken held various positions with the COMARK Division of Thomcast (now Thomson Broadcast), including Manager of the Systems Engineering, RF Engineering and Sales Engineering groups, as well as Director of Marketing and Sales Support which included DTV Strategic Planning responsibilities. While with COMARK, Mr. Aitken was part of the "Emmy Award Winning Team" that revolutionized the broadcast industry by bringing IOT technology to the marketplace. Mr. Aitken is a member of the AFCCE, IEEE and SMPTE. He is the author of many papers dealing with innovative RF product developments, advanced digital television systems design and related implementation strategies, holds patents for various RF devices, and was a recipient of the "Broadcasting and Cable" Technology Leadership Award in 2008.

Sinclair Broadcast Group, Inc., one of the largest and most diversified television broadcasting companies, owns and operates, programs or provides sales services to 58 television stations in 35 markets. Sinclair's television group is affiliated with all major networks and reaches approximately 22% of all U.S. television households.

Grabiner Named as New Independent Chairman of News Corp Management and Standards Committee

Wed, 20 Jul 2011 11:54:14 +0000

News Corporation has confirmed the formal establishment and extension of the mandate of the Management and Standards Committee (MSC) as an independent body outside of News International.

The MSC is also delighted to confirm the appointment of Lord Grabiner QC as its independent Chairman.

Lord Grabiner, 66, is a commercial lawyer who has more than 40 years of experience of high-profile litigation. In addition he is a well-known and widely-respected figure in the banking, finance, academic and business worlds.

The MSC will report directly to Joel Klein, Executive Vice President and News Corp Board director, who in turn will report to Viet Dinh, an independent director and Chairman of News Corp’s Nominating and Corporate Governance Committee. Both will update the News Corp Board of directors which has given the MSC its full support.

The extension of the MSC’s mandate will be confirmed in its Terms of Reference which will be published in due course.

Klein, who has previously held the position of Assistant Attorney General in the United States Department of Justice, said: “The extension of the MSC is the next step in dealing with the issues surrounding News International. It will co-operate fully with all authorities and also lay the foundation for future standards. It is therefore vitally important that it is independent and properly governed.

“We are very pleased that such an eminent person as Lord Grabiner has agreed to be the independent Chairman. He will bring his undoubted experience and intellect to this very important role. His appointment clearly demonstrates that we are serious about putting things right that have gone wrong in the past.”

It will also be responsible for proposing and overseeing the implementation of new compliance, ethics and governance procedures at News International.

William Lewis and Simon Greenberg will be formally seconded to the MSC from their current positions at News International as full-time executive members with immediate effect.
All responsibilities from their previous roles as Group General Manager and Director of Corporate Affairs will be reassigned.

Jeff Palker, News Corp’s General Counsel for Europe and Asia, the other MSC’s executive member, will continue to be responsible for legal affairs throughout the region including direct oversight of the legal function at News International.

The MSC will be housed in a secure unit separate from the main News International office to ensure independence.

Rupert Murdoch Statement to the Culture, Media and Sport Select Committee

Wed, 20 Jul 2011 11:32:25 +0000

Prior to his appearance before the Culture, Media and Sport Select Committee, Rupert Murdoch, Chairman and CEO, News Corporation, prepared the following statement.

Mr. Chairman. Select Committee Members:

With your permission, I would like to read a short statement.

My son and I have come here with great respect for all of you, for Parliament and for the people of Britain whom you represent.

This is the most humble day of my career.

After all that has happened, I know we need to be here today.

Before going further, James and I would like to say how sorry we are for what has happened – especially with regard to listening to the voicemail of victims of crime.

My company has 52,000 employees. I have led it for 57 years and I have made my share of mistakes. I have lived in many countries, employed thousands of honest and hardworking journalists, owned nearly 200 newspapers and followed countless stories about people and families around the world.

At no time do I remember being as sickened as when I heard what the Dowler family had to endure – nor do I recall being as angry as when I was told that the News of the World could have compounded their distress. I want to thank the Dowlers for graciously giving me the opportunity to apologise in person.

I would like all the victims of phone hacking to know how completely and deeply sorry I am. Apologizing cannot take back what has happened. Still, I want them to know the depth of my regret for the horrible invasions into their lives.

I fully understand their ire. And I intend to work tirelessly to merit their forgiveness.

I understand our responsibility to cooperate with today’s session as well as with future inquiries. We will respond to your questions to the best of our ability and follow up if we are not capable of answering anything today. Please remember that some facts and information are still being uncovered.

We now know that things went badly wrong at the News of the World. For a newspaper that held others to account, it failed when it came to itself. The behavior that occurred went against everything that I stand for. It not only betrayed our readers and me, but also the many thousands of magnificent professionals in our other divisions around the world.

So, let me be clear in saying: invading people’s privacy by listening to their voicemail is wrong. Paying police officers for information is wrong. They are inconsistent with our codes of conduct and neither has any place, in any part of the company I run.

But saying sorry is not enough. Things must be put right. No excuses. This is why News International is cooperating fully with the police whose job it is to see that justice is done. It is our duty not to prejudice the outcome of the legal process. I am sure the committee will understand this.

I wish we had managed to see and fully solve these problems earlier. When two men were sent to prison in 2007, I thought this matter had been settled. The police ended their investigations and I was told that News International conducted an internal review. I am confident that when James later rejoined News Corporation he thought the case was closed too. These are subjects you will no doubt wish to explore today.

This country has given me, our companies and our employees many opportunities. I am grateful for them. I hope our contribution to Britain will one day also be recognised.

Above all, I hope that, through the process that is beginning with your questions today, we will come to understand the wrongs of the past, prevent them from happening again and, in the years ahead, restore the nation’s trust in our company and in all British journalism.

I am committed to doing everything in my power to make this happen. Thank you. We are happy to answer your questions.

BT's Speaking Clock Celebrates 75 Years of Telling the Time

Wed, 20 Jul 2011 11:28:54 +0000

Britain’s famous Speaking Clock celebrates its 75th birthday on July 24, 2011.

Now a national institution and part of Britain’s heritage, the Speaking Clock was the first of the pre-recorded information services in the UK, provided through telephones.

Created for people who wanted to know the time and did not have a watch or clock to hand, the clock was initially only available in the London directory area, with the first British Speaking Clock introduced on July 24, 1936.

The Speaking Clock was designed and constructed at the Post Office Engineering Research Station at Dollis Hill in North London. The time announcements were automatically co-ordinated on the hour with Greenwich meantime signals.

In order to access the service, subscribers would dial the first three letters of the word ‘time’ as dials at the time included letters as well as numbers to aid automatic calls. Dialling T. I. M. led to its common name 'TIM'. The service went national six years later.

Today, around 30 million calls every year are made to the service, now officially called “Timeline”. People dial 123 in the UK to hear the modern service.

The ‘voice’ of the BT Speaking Clock is as famous as the facility itself, with only four permanent voices ever used. Although there have been other voices used for charity events. They included Lenny Henry who recorded a special version in aid of Comic Relief for a two week period in March 2003. Later on that same year, 12 year old Alicia Roland won the same opportunity, this time for Childline.

Mae Whitman, the voice of Disney’s Tinkerbell, also became the voice for the Speaking Clock in January 2009, coinciding with the Tinkerbell film released at the same time. Also in 2009 Comic Relief helped raise money with celebrity voices such as Gary Barlow, Cheryl Cole, Chris Moyles, Kimberley Walsh and Fearne Cotton.

Jane Cain was the first voice, winner of a Post Office ‘Golden Voice’ competition, and used from 1936 until 1963. Pat Simmons, a London telephone exchange supervisor, became the second voice from 1963 until 1985.

The third voice belonged to Brian Cobby who became the first male voice at 11am on April 2, 1985. An actor by profession before he joined BT as an assistant supervisor at a Brighton exchange, Brian was selected from 12 finalists in BT’s competition on December 5, 1984.

Users who were around in the 1960s who listen hard enough might detect a familiarity – Brian was also the voice of “5-4-3-2-1 Thunderbirds are go!” in the famous Gerry Anderson TV series.

The fourth and current voice is Sara Mendes da Costa from Brighton & Hove.

She became Speaking Clock voice at 8am on April 2, 2007. Sara won a BT competition during 2006 to find a new voice from the public, which had almost 18,500 entrants, simultaneously raising more than £200,000 for BBC Children in Need.

Originally the accuracy of the BT Speaking Clock was one-tenth of a second, but it is now accurate to within five thousandths of a second.

David Hay, head of BT Heritage, said: “75 years ago BT's technology created the speaking clock which remains a much loved part of British life today. Celebrating its diamond jubilee demonstrates BT's determination to preserve the heritage of the world's oldest communications company.”

Quick facts
• Big Ben checks its time with the Speaking Clock
• The Speaking Clock is accurate to within five thousandths of a second
• In its first year the service registered nearly 13 million calls
• Initially only available in the London and went nationwide in 1942
• The Speaking Clock is also known as TIM and Timeline
• Accurist was the sponsor from 1986 for 22 years

• Permanent voices
First voice – Jane Cain 1936 - 1963
Second voice – Pat Simmons – 1963 – 1985
Third voice – Brian Cobby – 1985 – 2007
Fourth voice – Sara Mendes da Costa – 2007 to present

• Other Voices:
Lenny Henry Comic Relief 2003
Alicia Roland ChildLine 2003.
Mae Whitman, Tinker Bell 2008
UK celebrities for Comic Relief 2009 – Gary Barlow, Cheryl Cole, Chris Moyles, Kimberley Walsh and Fearne Cotton

Fitch: News Corp.'s Withdrawal of BSkyB Bid Has No Effect on Ratings

Thu, 14 Jul 2011 07:15:00 +0000

NEW YORK--(BUSINESS WIRE)-- According to Fitch Ratings, News Corporation's (News Corp.) withdrawal of its proposed offer for British Sky Broadcasting Group plc (BSkyB; rated 'BBB+', Outlook Stable by Fitch) has no impact on the company's ratings. That said, the increased uncertainty around future cash deployment and whether it will be allocated to credit-friendly initiatives poses an incremental risk to bondholders.

News Corp. benefits from strong liquidity, with $11.8 billion of cash and over $2.5 billion of annual free cash flow. Additionally, credit metrics remain strong, with leverage of 2.7 times (x) at March 31, 2011, below Fitch's 3x target. News Corp. retains significant financial flexibility to pursue merger and acquisition (M&A) and share buyback activities without impacting its 'BBB+' ratings. Fitch also retains comfort from News Corp.'s historically conservative financial policy and maintenance of strong liquidity in both strong and weak economic backdrops.

Nonetheless, Fitch believes that News Corp. will seek to deploy much of its cash over the next 12-24 months, with the company stating multiple times that the high cash balance is inefficient. In Fitch's view, BSkyB had been the best possible use of this cash, given the free cash flow, geographical diversification, and recurring revenue associated with the acquisition. Fitch does not currently anticipate any cash deployment by News Corp. to have a negative ratings impact, and expects the company will maintain a substantial cash balance in excess of $2 billion. However, the long-term impact of other potential cash uses, such as high multiple digital acquisitions and share buybacks in addition to the $5 billion already announced, is likely to have a materially lower long-term benefit for bondholders.

For additional information please see the following full press releases on News Corp., available on the Fitch web site at 'www.fitchratings.com' under 'Corporates'.

-- July 11, 2011 'Fitch: News Corp.'s Rating Unaffected by Recent Events;

-- July 12, 2011 'Fitch: News Corp.'s Rating Unaffected by Share Buyback;

-- Jan. 18, 2011 'Fitch Affirms News Corp.'s IDR at 'BBB+'; Outlook Stable.

Fitch currently rates News Corp. as follows:

News Corp.

-- Issuer Default Rating (IDR) 'BBB+'.

News America, Inc.

-- IDR 'BBB+';

-- Senior unsecured 'BBB+'.

The Rating Outlook is Stable.

Additional information is available at 'www.fitchratings.com'. The issuer did not participate in the rating process, or provide additional information, beyond the issuer's available public disclosure.

Applicable Criteria and Related Research:

-- 'Analysis of U.S. Corporate Pensions' (Dec. 1, 2010);

-- 'Corporate Rating Methodology' (Aug. 16, 2010);

-- 'Liquidity Considerations for Corporate Issuers' (June 12, 2007).

Applicable Criteria and Related Research:

Analysis of U.S. Corporate Pensions
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=578365

Corporate Rating Methodology - Amended
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=546646

Liquidity Considerations for Corporate Issuers
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=328666

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE.

Contacts

Fitch, Inc.
Primary Analyst
Melissa Link-Cohen, CFA, +1-212-908-0611
Director
One State Street Plaza
New York, NY 10004
or
Secondary Analyst
Rolando Larrondo, +1-212-908-9189
Director
or
Media Relations
Brian Bertsch, +1-212-908-0549 (New York)

Source: Fitch Ratings

View this news release online at:
http://www.businesswire.com/news/home/20110713006549/en

News Corporation Withdraws BSkyB Takeover Bid

Wed, 13 Jul 2011 13:56:13 +0000

News Corporation has announced that it has withdrawn from its attempted takeover of British Sky Broadcasting (BSkyB) as the phone hacking scandal continues to widen.

News Corporation issued the following statement;

News Corporation (“News Corp”) announces that it no longer intends to make an offer for the entire issuedand to be issued share capital of British Sky Broadcasting Group PLC (“BSkyB”) not already owned by it.

Chase Carey, Deputy Chairman, President and Chief Operating Officer, News Corporation, commented: "Webelieved that the proposed acquisition of BSkyB by News Corporation would benefit both companies but ithas become clear that it is too difficult to progress in this climate. News Corporation remains a committedlong-term shareholder in BSkyB. We are proud of the success it has achieved and our contribution to it."

Downing Street have welcomed the decision and said that News International needs to 'focus on getting it's house in order'. Deputy Prime Minister Nick Clegg said that the move "was the right thing to do".

Leader of the Opposition Ed Miliband also welcomed the news.

Earlier in the day, the UK Government announced plans for a public enquiry starting within weeks, to investigate the phone hacking scandal.

BT's Super-fast Broadband Goes Live in More London Communities

Wed, 13 Jul 2011 09:34:47 +0000

Super-fast broadband is now available to the first homes and businesses in new parts of the capital, BT announced today.

Up to 290,000 local householders and firms in 17 new exchange areas, including Crouch End, Hampstead, Kentish Town, Ruislip and Wanstead, are poised to join the high-speed revolution as engineers complete the local upgrade in the coming weeks.

The latest development means that around 1.4 million local premises in London are either already connected to the high-speed internet technology, or soon will be. BT has also announced plans to pass another 2.5 million premises in the capital with its fibre network either later this year or during 2012.

BT’s local access network business, Openreach, expects to make super-fast fibre broadband available to two-thirds of UK homes and businesses by the end of 2015. It will use a mix of fibre to the cabinet (FTTC) and fibre to the premises (FTTP) technologies. Both are much faster than those speeds previously available to most UK homes and businesses.

FTTC, delivered to street cabinets, currently offers download speeds of up to 40Mbps and upload speeds up to 10Mbps. Openreach is planning to roughly double these speeds next year. FTTP, taking fibre all the way to homes and businesses, will offer speeds of up to 100Mbps.

Duncan Ingram, regional director for BT in London, said: “The arrival of super-fast broadband in these additional areas is a huge boost for local homes and businesses. It will transform their experience of the internet. They’re joining the more than five million UK premises now passed by what we believe to be the world’s fastest growing fibre network.

“Fast and reliable internet connections are an essential part of our national infrastructure, whether we want them for entertainment at home, education online, boosting our businesses or delivering essential public services. BT’s investment in fibre broadband will benefit London’s ability to compete and the wider local economy.”

Internet users with a super-fast connection can do much more online, all at the same time. For instance, a family could be downloading a movie, watching a TV replay service, surfing the internet and playing games online. A music track can be downloaded in about two seconds, a whole album in 30 seconds and a feature length HD movie in 10 minutes. Upload speeds are the fastest in the UK, allowing large videos and data files to be sent almost instantly and activities, such as uploading hi-resolution photos to Facebook, to be completed in seconds.

Adopted Red Phone Boxes Transformed into Life Savers

Wed, 13 Jul 2011 09:11:07 +0000

BT is funding the installation of defibrillator equipment, which can help save the lives of cardiac arrest victims, into five decommissioned red phone boxes adopted by rural communities.

Working with the Community Heartbeat Trust (CHT), a charity that makes possible the provision of defibrillation equipment for local communities, BT is paying for the equipment and installation of the specialised life saving machines into five kiosks around the country.

The first kiosk to be fitted with the defibrillation equipment funded by BT is in Lower Slaughter, Gloucestershire. It is the 1,500th red phone box adopted by a local community in
the UK.

Available to the public 24 hours a day, seven days a week, the defibrillation equipment is secured in the kiosk in a high visibility yellow, vandal-resistant, heated steel cabinet, which can be opened with a combination code available from the emergency services by calling 999.

The defibrillator machine talks the user through how to administer the treatment with step-by-step spoken instructions, for example, telling the user to apply the pads to the casualty’s chest. The machine analyses the casualty to determine if they are suffering from a cardiac arrest. If required, the defibrillator delivers a powerful, but controlled electric shock to restore normal heartbeat to the sufferer. It will only administer a shock when it diagnoses a cardiac arrest sufferer needs one.

BT introduced its Adopt a Kiosk scheme in 2008, in response to requests from local councils and residents. It allows a community to retain their local red BT phone box, with the payphone taken out, by buying the kiosk from the company for just £1.

Sheila Jeffery, Cotswold district councillor and representative on Health Scrutiny, said: “We are very pleased that Lower Slaughter’s kiosk is the 1,500th in the country to be adopted and I know the residents are most appreciative of BT’s generous offer to fund the defibrillator equipment. Lower Slaughter is a very beautiful, but very busy Cotswold village, with a large number of visitors every year, and the kiosk really could help saves lives in the future.”

Andrew Gravells, cabinet member for Health and Wellbeing, Gloucestershire County Council, said: “These little machines are literally life savers. I’m now on my very own second implanted cardiac defibrillator, which controls a serious heart rhythm condition, so I know at first hand just how important these lifesaving pieces of equipment are. I’m so grateful to BT and everyone else whose work has resulted in this fantastic new use for this former phone box.”

Up to 200,000 people a year in the UK suffer from a sudden cardiac attack making it one of the UK’s largest killers. The faster a victim gets medical help, the better the chances of survival. The availability of a defibrillator machine greatly increases the chances of surviving a cardiac arrest. With CPR (cardiopulmonary resuscitation) alone, the survival rate is around five per cent, but defibrillation and CPR increases the chance of survival to up to 50 per cent.

Martin Fagan, national secretary of the Community Heartbeat Trust, said: “We are immensely grateful to BT for their help in this novel use of a familiar icon, phone boxes are ideal locations for emergency medical equipment because they’re often in the centre of a village.

“With something as serious as a cardiac arrest, time is of the essence, and unfortunately the emergency services can’t always reach country villages in the recommended five minutes. We hope that many more people will adopt their kiosk and enlist our help to save lives in rural communities.”

The Adopt a Kiosk scheme has captured the imagination of people up and down the country. Apart from the defibrillator kiosks, boxes have been turned into art galleries, public libraries, exhibitions and information centres, even the villagers of Ambridge in BBC Radio 4’s long-running drama The Archers have adopted their kiosk.

John Lumb, general manager for BT Payphones, said: “The most fantastic thing about the Adopt a Kiosk scheme has been how communities across the country have become involved. Red phone boxes have become a focal point for all sorts of activities of real value to the local community. It’s so gratifying to see our old rarely used boxes given a new lease of life.

“Over the years, many people have said that their local phone box was a lifeline for them, now that everyone has a phone at home or a mobile that’s no longer true, but kiosks fitted with defibrillator machines are a genuine asset to their community and could be real life savers in the future.”

Payphone use has been falling for many years, at its peak in 2002, there were 92,000 phone boxes on our streets, but their numbers have been declining with BT removing them in response to the drop in use. Calls from payphones have fallen by more than 80 per cent in the last five years.

There are now 11,000 traditional phones boxes across the UK out of a total number of 51,500 kiosks. The numbers of red and modern kiosks are set to continue to shrink, as BT cuts their numbers to match demand. BT has recently written to parish councils across the UK inviting them to adopt their local kiosk and safeguard it from removed.

Fitch: News Corp.'s Rating Unaffected by Recent Events

Mon, 11 Jul 2011 16:28:00 +0000

NEW YORK--(BUSINESS WIRE)-- Recent developments at News Corporation (News Corp.)--including the closure of the company's U.K. tabloid 'News of the World', as well as the increased regulatory scrutiny and delay of potential approval of the proposed acquisition of British Sky Broadcasting Group plc (BSkyB; rated 'BBB+', Outlook Stable)--decrease the level of certainty around News Corp.'s cash deployment going forward, but have no impact on the company's 'BBB+' ratings and Stable Outlook.

Should the company receive regulatory approval for the deal, News Corp. and BSkyB have two months to negotiate on a price before News Corp. can approach BSkyB shareholders directly. In Fitch's view, News Corp. has significant financial flexibility to take the bid materially higher than BSkyB's recent peak trading price of 850 pence/share. The protracted approval process has resulted in a larger than expected cash balance, and Fitch estimates that the price would have to approach 1000 pence/share ($17.7 billion transaction at current exchange rates) before pro forma total leverage would reach 3 times ([x] assuming the company keeps a maintenance cash level of $1 billion-$2 billion). News Corp.'s ratings incorporate gross leverage exceeding Fitch's 3x target from M&A activity, assuming there is a clear deleveraging path to that level over the subsequent 12-18 months. Fitch does not currently anticipate that any potential divestitures necessary for regulatory approval would have a ratings impact. News Corp. had previously agreed to spin off satellite news broadcast network Sky News.

Fitch would view a regulatory block of the BSkyB acquisition as a negative. Absent the transaction, it is likely that a significant portion of the company's $11.8 billion of cash would be allocated for less credit-friendly measures, such as share buybacks and high valuation multiple digital acquisitions. Further, such uses would not provide BSkyB's international revenue diversification and largely recurring revenue base. Nonetheless, assuming such events are financed with cash on hand, they would be unlikely to have a negative ratings impact, although News Corp. would retain materially less financial flexibility within the ratings category. In the event regulatory approval is not granted, News Corp will reimburse BSkyB expenses up to GBP20 million (US$31.8 million).

Separately, the closing of 'News of the World' is not expected to have an impact on ratings. In Fitch's view, News Corp. would likely maintain a 'BBB+' rating without any of its publishing EBITDA (approximately 16% of total), particularly considering the capital intensity of this business. Fitch believes it is unlikely that recent events will taint the company's relationship with advertisers at its other newspaper's or other businesses.

Overall, Fitch's ratings on News Corp. continue to recognize the company's size and scope as one of the largest global media and entertainment companies with solid market positions in broadcast and cable television (TV), filmed entertainment, information services, integrated marketing and direct broadcast satellite (DBS) distribution. Rating concerns center on the secular challenges facing the newspaper industry and local advertising. Fitch estimates global print products account for around 20% of stand-alone News Corp's revenue. Despite these issues, Fitch believes the company's sound liquidity, strong free cash flow generation and increasing level of subscription revenues give it adequate visibility to adjust to a changing landscape.

For additional information please see the full release on News Corporation, dated Jan. 18, 2011, available on the Fitch web site at 'www.fitchratings.com', under 'Corporates'.

Fitch currently rates News Corp. and its subsidiaries with a Stable Outlook as follows:

News Corp.

--Issuer Default Rating (IDR) 'BBB+'.

News America, Inc.

--IDR 'BBB+';

--Senior unsecured 'BBB+'.

Additional information is available at 'www.fitchratings.com'. The issuer did not participate in the rating process other than through the medium of its public disclosure.

Applicable Criteria and Related Research:

--'Analysis of U.S. Corporate Pensions' (Dec. 1, 2010);

--'Corporate Rating Methodology' (Aug. 16, 2010);

--'Liquidity Considerations for Corporate Issuers' (June 12, 2007).

Applicable Criteria and Related Research:

Analysis of U.S. Corporate Pensions

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=578365

Corporate Rating Methodology

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=546646

Liquidity Considerations for Corporate Issuers

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=328666

Contacts

Fitch Ratings
Primary Analyst
Melissa Link-Cohen, CFA
Director
+1-212-908-0611
Fitch, Inc.
One State Street Plaza
New York, NY 10004
or
Secondary Analyst
Rolando Larrondo
Director
+1-212-908-9189
or
Media Relations
Brian Bertsch
+1-212-908-0549

Source: Fitch Ratings

View this news release online at:
http://www.businesswire.com/news/home/20110711006107/en

BT Helps UK Businesses Fight Online Fraud

Sun, 10 Jul 2011 15:14:51 +0000

BT has announced the launch of a new authentication service, which will enable UK businesses providing high value or high risk online services to combat fraud and protect user identities.

The new service, BT Managed Authentication, will further bolster BT’s Managed Security Solutions portfolio and is aimed at organisations which attract large number of customers over the internet to access a specific application, such as internet banking.

It provides “multi-factor authentication” supplementing the customer’s traditional username and password with an extra one-time-password. This can only be generated by a unique algorithm running on a device or piece of software issued to each individual customer. One-time-passwords expire after a single use and change every few minutes, in order to prevent phishing attacks and protect identities.

BT Managed Authentication is delivered as a service providing a strong authentication solution faster and for a greatly reduced outlay than an in-house equivalent. The service is scalable, easy to use, can be rapidly deployed and can be updated to support future plans.

Jeffrey Schmidt, Executive Global Head of Business Continuity, Security and Governance at BT Global Services, said: “Businesses and end-users are facing increasing attacks against online services, and the need for better security is vital. Whether it is protection from fraudsters or simply wanting to reassure consumers that their money or data is secure, many organisations are moving away from username and password, towards stronger methods of authentication. Our new Managed Authentication Service offers this level of protection but also provides a seamless path for roll-out – removing complexity, cost, and time constraints from a critical deployment.”

Lawrence Jacobs to Step Down as Senior Executive Vice President and Group General Counsel of News Corporation

Mon, 13 Jun 2011 09:24:14 +0000

News Corporation has announced that Lawrence A. Jacobs, News Corporation's Senior Executive Vice President and Group General Counsel, will be stepping down from his position to pursue new opportunities.

"I will always be grateful to Lon not only for his wise counsel, but for his key role in helping build News Corporation into one of the world's largest and most successful diversified media companies," Rupert Murdoch, Chairman and CEO of News Corporation said. "I know this was a difficult decision for him to make, but I understand his desire to try new challenges after more than 15 years of service to our Company, to our Board and to our stockholders."

Mr. Jacobs, 56, joined News Corporation in 1996 as Senior Vice President and Deputy General Counsel. In 2004, he was named Senior Executive Vice President and Group General Counsel of News Corporation and appointed to the seven-member Office of the Chairman.

Commenting on his departure, Mr. Jacobs said: "I have had the great privilege of calling News Corporation my home for a decade and a half. Although it is never easy to choose the perfect time to leave, I am proud of what we have achieved and I have personally reached the point in my life where it seems appropriate, and exciting, to try something new. I will certainly focus on my continued philanthropic work, including efforts to expand educational opportunities to underserved communities."