News Corp. 4th Qtr FY08 - June 30, 2008

SKY Italia generates operating income of $419 million, an improvement of $198 million versus a year ago, reflecting net subscriber additions of 366,000 over the past 12 months as the subscriber base expands to 4.56 million

NEW YORK, NY — News Corporation (NYSE: NWS, NWSA; ASX: NWS, NWSLV) today reported fourth quarter net income of $1.1 billion ($0.43 per share), an increase of $239 million, or 27%, from the $890 million ($0.28 per share on a diluted combined basis) reported in the fourth quarter a year ago.

Direct Broadcast Satellite Television

SKY Italia reported fourth quarter operating income of $212 million, an increase of $57 million, or 37%, compared to a year ago, and full year operating income of $419 million, growth of $198 million over the $221 million reported in fiscal 2007. These improvements reflect subscriber additions, with more than 366,000 net subscribers added over the past 12 months, bringing SKY Italia’s subscriber base to 4.56 million at quarter end, as well as a favorable impact from foreign currency fluctuations. The subscriber revenue growth was partially offset by increased programming spending primarily associated with the larger subscriber base and the launch of 13 new channels.

More: Earnings Release