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Breaking up (Is Hard To Breakin' Up Is Hard To Do Rich Roseman, CIO, SVP, 21st Century Fox [email protected] THE SUN BUSINESS NEWS AND GOSSIP WORLD EXCLUSIVES NewsCorp Statement on Consideration to Restructure Company Assets NEW YORK, NY - June 26, 2012 - News Corporation confirmed today that it is considering a restructuring to separate its business into two distinct publicly traded companies. News Corp. Advances Plan to Split Up June 27th, 2012- News Corp.’s board is set to decide Wednesday whether to proceed with a split of the media conglomerate into two companies, carving the bigger and more profitable entertainment businesses from the newspapers. If the board approves the split, News Corp. is expected to announce the restructuring Thursday morning, said a person familiar with the situation. News Corp. stock jumped 8.3% Tuesday to its highest level since 2007 after the company confirmed it was contemplating a split, without giving any details. June 28th, 2012 - Since 1802 News Corporation Announces Intent to Pursue Separation of Businesses News Corporation company, consisting of (NASDAQ: NWS, NWSA; the largest collection of ASX: NWS, NWSLV) best-in-class publishing today announced that it assets and a new digital intends to pursue the education group, and an separation of its unmatched global media publishing and media and and entertainment entertainment businesses company, each of which into two distinct publicly would benefit from traded companies to enhanced strategic Enhance Strategic alignment and increased Alignment and Increase operational flexibility with Operational Flexibility. respect to an unparalleled Upon closing of such a portfolio of assets, brands transaction, shareholders and franchises. would hold interests in a Above: NewsCorp Chairman and CEO Rupert Murdoch speaks at the 2009 World Economic Forum Annual Meeting world-class publishing December 3rd, 2012 - Since 1802 News Corporation Announces Details Regarding Proposed Separation of Businesses News Corporation In keeping with the (NASDAQ: NWS, NWSA; company's 60-year ASX: NWS, NWSLV) heritage of bringing news today announced that to the world, the Dow Jones Editor-in-Chief publishing entity will retain and Managing Editor of the name News The Wall Street Journal Corporation. The media Robert Thomson will and entertainment become the CEO of the company, which began in new proposed publishing earnest when Chairman entity, following the and CEO Rupert Murdoch Company's intended acquired 20th Century separation into two Fox and launched the Fox independent, publicly Network more than 25 Above: COO Chase Carey speaks at the 2011 Annual Meeting traded companies. years ago, will be named Fox Group. December 21st, 2012 - Since 1802 News Corporation Files Registration Statement for Planned Separation of Businesses News Corporation Today's Form 10 filing (NASDAQ: NWS, NWSA; initiates a process of ASX: NWS, NWSLV) providing details about the today filed an initial Form new News Corporation 10 Registration Statement and the manner in which with the U.S. Securities the separation will occur. and Exchange The new News Commission (SEC). The Corporation will comprise filing is in connection with a range of market-leading the Company's previously- brands in newspapers, announced intention to information services and separate its businesses integrated marketing into two independent, services, digital real publicly-traded estate services, book Above: News Corporation will soon be two separate, publically- companies. publishing, digital traded entities. education, as well as sports programming and pay-TV distribution in Australia. March 8th, 2013 - Since 1802 News Corporation Announces Filing of Amendment to Registration Statement for Planned Separation of Businesses News Corporation (NASDAQ: The Form 10 has been NWS, NWSA; ASX: NWS, amended to provide additional NWSLV) today announced that financial information about the the new News Corporation filed new News Corporation, an amendment to its Form 10 including its capital structure Registration Statement with the and pro-forma combined U.S. Securities and Exchange financials. The new News Commission (SEC). The filing is Corporation will comprise a in connection with the range of market-leading brands Company's previously- in news and information announced intention to services, integrated marketing separate its businesses into two services, digital real estate independent, publicly-traded services, book publishing, and companies. Today's filing builds digital education, as well as on the initial Form 10 sports programming and pay- Registration Statement, filed TV distribution in Australia. Above: News Corporation Results by Segment with the SEC on December 21, 2012. THE SUN BUSINESS NEWS AND GOSSIP WORLD EXCLUSIVES NewsCorp Statement on Consideration to Restructure Company Assets News Corporation 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 New York, NY – April 16, 2013 – Century Fox replaces the previously announced name Fox Group. June 11th, 2013 - Since 1802 News Corporation Board of Directors Approves Separation of Businesses News Corporation has been formally (NASDAQ: NWS, approved by the NWSA; ASX: NWS, Company's Board of NWSLV) and the Directors. The new News Company Corporation today announced announced that the appointments to the separation of News Boards of Directors Corporation (the of both companies, "Company") into two effective upon the distinct publicly completion of the From left, six of the 16 board members of the News traded companies, separation, which is Corporation: Kenneth Cowley, John Thornton, José 21st Century Fox expected to occur on Maria Aznar, Viet Dinh, Sir Roderick Ian Eddington, and the new News June 28, 2013. and Thomas J. Perkins Corporation, June 11th, 2013 - Since 1802 News Corporation Stockholders Approve Charter Amendments Related to Separation of its Businesses News Corporation with the Securities and announced that, at Exchange Commission today's Special Meeting on April 30, 2013. The of Stockholders, the Company will file the Company received final results of the vote approval for the with the SEC today on a proposed amendments Form 8-K that will be to its Restated available at the SEC's Certificate of website Incorporation that at www.sec.gov and enable the separation of at www.newscorp.com/i its businesses into two nvestor. News independent, publicly Corporation is traded companies as positioned to complete NewsCorp Chairman and CEO Rupert Murdoch with described in the the separation on June a recently printed issue of The Sun. The Sun will be Company's definitive 28, 2013. proxy statement filed part of the ‘New’ News Corporation. June 28th, 2013 - Since 1802 21ST CENTURY FOX ANNOUNCES COMPLETION OF SEPARATION 21st Century Fox, cable and broadcasting formerly known as News properties, including FOX, Corporation, announced FX, Fox News Channel, today that it has Fox Sports Network, completed the previously National Geographic announced separation of Channels, STAR, Fox its business into two Pan American Sports, as independent publicly- well as film studio traded companies. Twentieth Century Fox Effective as of 4:30pm ET Film and television today, the Company production studios distributed to its Twentieth Century Fox stockholders all Television and Shine outstanding shares of the Group. The Company's Above: the new 21ST Century Fox logo and below, some of the Fox new News Corporation. assets also include Business units part of 21CF. leading pay-tv businesses “Today I am proud to unveil our new logo, which serves as a powerful 21st Century Fox's world Sky Deutschland, Sky symbol of the inspiration and high bar set by our company. Like our renowned media and Italia and its equity name, the logo reflects the rich creative heritage of Twentieth Century interests in BSkyB and Fox and signals the promise of the 21st century and our restless drive entertainment assets toward the future.” span a global portfolio of Tata Sky. — E-mail from News Corp. Chief Executive Rupert Murdoch to employees Objectives • Create two separate, publically-traded companies • Duplicate corporate structure and business functions without business interruption • IT’s Objectives- • Duplicate Custom Corporate Applications • Split Financial Data and provision new systems • Stand up new infrastructure to support new company 12 Challenges? • How do you build a new company with no identified management, no identified business process, no staff, and with a fixed deadline and budget? • Sounds like assembling a plane in flight….. 13 The Plan • Form functional workstreams • Identify workstream leads • Engage PWC 14 PWC’s Involvement • The Separation Management Office- The SMO • Barrage of paperwork and silly questions/metrics • Weekly ‘feel good’ meetings • Continuous re-baselining 15 ‘FoxGroup’ • Domain Change • Stopped at the last minute 16 Cloud-First for ‘PubCo’ • Time to production • Flexibility • Limited time/scope under the TSA (Transitional Services Agreement) • Easiest way to duplicate existing corporate apps 17 Timing for the split • Rupert Murdoch wanted 6 months • Others thought 18 months • Eventually a compromise was reached at 12 18 Staffing at PubCo • Very late staffing at PubCo from the top- down • HR, Finance Legal and IT functions relied on 21CF 19 The Datacenter Move (First Try) • The Snowstorm during Phase I 20 Photo Credit- Mark Pekin- http://www.antarctica.gov.au/living-and-working/stations/davis/this-week-at-davis/20087/november-2008 Visibility • IT touched every other separation workstream • IT had better visibility than other departments • Often a business enabler/instigator 21 This is what we’ve become 22 .
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