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Exhibit 99.1
NEWS CORPORATION REPORTS FOURTH QUARTER AND
FULL YEAR RESULTS FOR FISCAL 2016
FISCAL 2016 FOURTH QUARTER KEY FINANCIAL HIGHLIGHTS
| Revenues of $2.2 billion increased 5% compared to $2.1 billion in the prior year |
| Income from continuing operations of $114 million compared to $20 million in the prior year |
| Total Segment EBITDA of $361 million, which includes a one-time litigation settlement gain of $122 million, compared to $215 million in the prior year |
| EPS were $0.16 including the settlement gain, compared to $0.01 in the prior year |
| Digital Real Estate Services segment revenue grew 21% compared to the prior year |
| Digital revenues represented 23% of News and Information Services segment revenues, compared to 19% in the prior year |
NEW YORK, NY August 8, 2016 News Corporation (News Corp or the Company) (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) today reported financial results for the three months and fiscal year ended June 30, 2016 (includes 14 and 53 weeks, respectively, compared to 13 and 52 weeks in the three months and fiscal year ended June 30, 2015, respectively).
Commenting on the results, Chief Executive Robert Thomson said:
We ended Fiscal Year 2016 with strong results in the fourth quarter, highlighted by robust year-over-year growth in revenues and EBITDA at Digital Real Estate Services and an upturn at HarperCollins.
Over the past year, we made clear progress on our primary goals to become more digital and more global. Since the advent of the new News three years ago, revenue at Digital Real Estate Services has more than doubled, and it is expected to become the biggest contributor to EBITDA in the future thanks to the ongoing success of REA and the rapid growth at Realtor.com® in the U.S. Our reach in digital real estate is unparalleled and highlights the potential of the News Corp network, which is monetizing shared data and maximizing the value of content and traffic.
Book Publishing ended the year strongly, highlighting our ability to leverage quality content across both print and digital platforms.
While global print ad trends remain challenging at our News and Information Services segment, we are continuing our aggressive growth in digital, which now accounts for 23% of segment revenues, up from 19% last year.
The success of the Wall Street Journal is a testament to the importance of high quality content with global appeal. This past quarter the WSJ reached 948,000 digital-only subscribers, posting healthy year-over-year gains with improved pricing to better reflect its unique value. At News UK, The Times and The Sunday Times continue to impress with nearly 182,500 digital-only subscribers. Digital subscriptions continue to grow and now account for approximately 45% of the subscriber base, while print sales have also risen tangibly in recent months. This quarter we relaunched the Suns website, which had over 42 million global unique users in June, a distinctive increase since the lifting of the paywall last year. The U.K. team is focused on leveraging our immensely valuable
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News Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2016 10-K Annual Report includes:
Financial Statements, Disclosures and Schedules
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News Corp provided additional information to their SEC Filing as exhibits
Ticker: NWS
CIK: 1564708
Form Type: 10-K Annual Report
Accession Number: 0001193125-16-679975
Submitted to the SEC: Fri Aug 12 2016 7:19:00 AM EST
Accepted by the SEC: Fri Aug 12 2016
Period: Thursday, June 30, 2016
Industry: Newspapers Publishing Or Publishing And Printing