Announcement by News Corp's Board of Directors on Potential Combination with Fox Corporation

Announcement by News Corp's Board of Directors on Potential Combination with Fox Corporation

New York, NY (January 24, 2023) - News Corporation ( News Corp or the Company ) (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV) announced today that the Company's Board of Directors received a letter from K. Rupert Murdoch withdrawing the proposal to explore a potential combination of News Corp and Fox Corporation ( FOX ) (Nasdaq: FOXA, FOX).

In withdrawing the proposal, Mr. Murdoch indicated that he and Lachlan K. Murdoch have determined that a combination is not optimal for shareholders of News Corp and FOX at this time.

As a result of this action, the Special Committee of the Board of Directors of News Corp has been dissolved. The Board would like to express its appreciation for the Special Committee's efforts on this matter.

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Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as may, will, should, likely, anticipates, expects, intends, plans, projects, believes, estimates, outlook and similar expressions are used to identify these forward-looking statements. These statements are based on current expectations and beliefs and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements in this press release due to the risks, uncertainties and other factors described in the Company's filings with the Securities and Exchange Commission. More detailed information about factors that could affect future results is contained in our filings with the Securities and Exchange Commission. The forward-looking statements included in this press release are made only as of the date of this release. We do not have and do not undertake any obligation to publicly update any forward-looking statements to reflect subsequent events or circumstances, and we expressly disclaim any such obligation, except as required by law or regulation.

About News Corp

News Corp (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV) is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. The company comprises businesses across a range of media, including: digital real estate services, subscription video services in Australia, news and information services and book publishing. Headquartered in New York, News Corp operates primarily in the United States, Australia, and the United Kingdom, and its content and other products and services are distributed and consumed worldwide. More information is available at: http://www.newscorp.com.

Contacts

News Corp Investor Relations

Michael Florin

212-416-3363

mflorin@newscorp.com

News Corp Corporate Communications

Jim Kennedy

212-416-4064

jkennedy@newscorp.com

LINK:	https://newscorp.com/2023/01/24/announcement-by-news-corps-board-of-di...
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