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Appendix 4E Preliminary final report Name of entity NEWS CORPORATION ABN or equivalent company reference Financial year ended ARBN: 163 882 933 30 June 2016 Results for announcement to the market US$ million Revenues down $232 million (-3%) to 8,292 Net income up $326 million (222%) to 179 Dividends Amount per share Franked amount Current period Final 2016 (declared): Class A – non-voting US$ 0.10 Unfranked Class B – voting US$ 0.10 Unfranked Interim 2016 (paid): Class A – non-voting US$ 0.10 Unfranked Class B – voting US$ 0.10 Unfranked Previous corresponding period Final 2015: Class A – non-voting US$ 0.10 Unfranked Class B – voting US$ 0.10 Unfranked Dividends The total dividends declared relating to the period were US$0.20 per share of Class A Common Stock and Class B Common Stock. In August 2016, the Company declared the final dividend relating to the period of US$0.10 per share for Class A Common Stock and Class B Common Stock. This dividend, together with the interim dividend of US$0.10 per share of Class A Common Stock and Class B Common Stock constitute the total dividends relating to the period. The final dividend, which will be unfranked, is payable on 19 October 2016, with a record date for determining dividend entitlements of 14 September 2016. The final dividend has not been provided for in the Consolidated Financial Statements as it was not declared by the Directors prior to 30 June 2016. Net Tangible Assets For personal use only Net tangible asset backing per share is US$10.10 and US$11.71 as of 30 June 2016 and 2015, respectively, and is based on asset values disclosed in the Consolidated Balance Sheets. Additional Information Additional Appendix 4E disclosure requirements and commentary on these results is contained in the attached Form 10-K for the period ended 30 June 2016. UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) È ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2016 or ‘ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-35769 NEWS CORPORATION (Exact Name of Registrant as Specified in its Charter) Delaware 46-2950970 (State or Other Jurisdiction of (I.R.S. Employer Incorporation or Organization) Identification No.) 1211 Avenue of the Americas, New York, New York 10036 (Address of Principal Executive Offices) (Zip Code) Registrant’s telephone number, including area code (212) 416-3400 Securities registered pursuant to Section 12(b) of the Act: Title of Each Class Name of Each Exchange On Which Registered Class A Common Stock, par value $0.01 per share The NASDAQ Global Select Market Class B Common Stock, par value $0.01 per share The NASDAQ Global Select Market Class A Preferred Stock Purchase Rights The NASDAQ Global Select Market Class B Preferred Stock Purchase Rights The NASDAQ Global Select Market Securities registered pursuant to Section 12(g) of the Act: None (Title of class) Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act of 1933. Yes È No ‘ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934. Yes ‘ No È Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes È No ‘ Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes È No ‘ Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. È Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. Large accelerated filer È Accelerated filer ‘ Non-accelerated filer ‘ Smaller reporting company ‘ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Securities Exchange Act of 1934). Yes ‘ No È As of December 24, 2015, the last business day of the registrant’s most recently completed second fiscal quarter, the aggregate market value ofFor personal use only the registrant’s Class A Common Stock, par value $0.01 per share, held by non-affiliates was approximately $5,167,774,289, based upon the closing price of $13.62 per share as quoted on The NASDAQ Stock Market on that date, and the aggregate market value of the registrant’s Class B Common Stock, par value $0.01 per share, held by non-affiliates was approximately $1,720,467,506, based upon the closing price of $14.23 per share as quoted on The NASDAQ Stock Market on that date. As of August 5, 2016, 380,538,230 shares of Class A Common Stock and 199,630,240 shares of Class B Common Stock were outstanding. DOCUMENTS INCORPORATED BY REFERENCE Certain information required for Part III of this Annual Report on Form 10-K is incorporated by reference to the News Corporation definitive Proxy Statement for its 2016 Annual Meeting of Stockholders, which shall be filed with the Securities and Exchange Commission pursuant to Regulation 14A of the Securities Exchange Act of 1934, as amended, within 120 days of News Corporation’s fiscal year end. TABLE OF CONTENTS Page PART I ITEM 1. Business ................................................................... 1 ITEM 1A. Risk Factors ................................................................ 16 ITEM 1B. Unresolved Staff Comments ................................................... 28 ITEM 2. Properties .................................................................. 28 ITEM 3. Legal Proceedings ........................................................... 30 ITEM 4. Mine Safety Disclosures ...................................................... 33 PART II ITEM 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities ............................................... 34 ITEM 6. Selected Financial Data ....................................................... 36 ITEM 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations ............................................................... 38 ITEM 7A. Quantitative and Qualitative Disclosures About Market Risk ....................... 74 ITEM 8. Financial Statements and Supplementary Data ................................... 76 ITEM 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure ................................................................ 145 ITEM 9A. Controls and Procedures ..................................................... 145 ITEM 9B. Other Information ........................................................... 145 PART III ITEM 10. Directors, Executive Officers and Corporate Governance .......................... 146 ITEM 11. Executive Compensation ..................................................... 146 ITEM 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters ....................................................... 146 ITEM 13. Certain Relationships and Related Transactions, and Director Independence ......... 147 ITEM 14. Principal Accountant Fees and Services ......................................... 147 PART IV ITEM 15. Exhibits and Financial Statement Schedules ..................................... 148 SIGNATURES ........................................................................ 149 For personal use only PART I ITEM 1. BUSINESS OVERVIEW The Company News Corporation (the “Company,” “News Corp,” “we,” “us,” or “our”) is a global diversified media and information services company focused on creating and distributing authoritative and engaging content to consumers and businesses throughout the world. The Company comprises businesses across a range of media, including: news and information services, book publishing, digital real estate services, cable network programming in Australia and pay-TV distribution in Australia, that are distributed under some of the world’s most recognizable and respected brands, including The Wall Street Journal, Dow Jones, The Australian, Herald Sun, The Sun, The Times, HarperCollins Publishers, FOX SPORTS Australia, realestate.com.au, realtor.com®, Foxtel and many others. The Company’s commitment to premium content makes its properties a trusted source of news and information and a premier destination for consumers across various media. Many of these properties deliver broad reach and high audience engagement levels in their respective markets, making