News America Incorporated closed the private placement of $1 billion of 3.00% Senior Notes due 2022 at the issue price of 99.29%. The Notes were sold within the United States only to qualified institutional buyers in reliance on Rule 144A promulgated under the Securities Act of 1933, as amended and outside the United States in accordance with Regulation S under the Securities Act. The Notes were sold pursuant to the indenture dated as of August 25, 2009, as amended and restated on February 16, 2011, among News America, the company, as guarantor, and The Bank of New York Mellon, as trustee. The Notes are redeemable, as a whole or in part, at News America's option, at any time or from time to time, upon mailed notice to the registered address of each holder of the Notes at least 30 days but not more than 60 days prior to the redemption. The redemption price will be equal to the greater of 100% of the principal amount of the Notes to be redeemed and the sum of the present values of the remaining scheduled payments on the Notes discounted to the date of redemption, on a semi-annual basis, at a rate equal to the sum of the applicable treasury rate plus 25 basis points for the Notes. Accrued interest will be paid to the date of the redemption.

News America Incorporated announced the pricing of an issuance of $1 billion of 3.00% Senior Notes due 2022. The closing of the offering is expected to occur on September 14, 2012, subject to satisfaction of customary closing conditions. News America will receive gross proceeds of $992,900,000 from this offering and expects to use the net proceeds for general corporate purposes. The offering will be made in accordance with Rule 144A under the Securities Act of 1933, as amended, to purchasers in the United States and in accordance with Regulations under the Securities Act to purchasers outside of the United States. The offering of the Notes has not been registered under the Securities Act, and the Notes may not be offered or sold absent registration or an applicable exemption from registration. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Notes. No offer, solicitation or sale will be made in any jurisdiction in which such an offer, solicitation, or sale would be unlawful.

News Corp. announced that on May 2, 2012, News America Incorporated terminated its existing $2.25 billion revolving credit agreement and entered into a new credit agreement among News America as borrower, the company as parent guarantor, the initial lenders named therein, the initial issuing banks named therein, JPMorgan Chase Bank, N.A. and Citibank, N.A. as co-administrative agents, JPMorgan Chase as designated agent and Bank of America, N.A. as syndication agent. The new credit agreement consists of a $2.0 billion five-year unsecured revolving credit facility with a sublimit of $400,000,000 (or its equivalent in Euros) available for the issuance of letters of credit. Under the new credit agreement, News America may request an increase in the amount of the credit facility up to a maximum amount of $2.5 billion. The new credit Agreement is available for the general corporate purposes of News America, the company and the company’s subsidiaries. The maturity date is May 2, 2017, however, News America may request that the commitments be renewed, under certain circumstances as set forth in the new credit agreement for up to two additional one-year periods. Any advance by the lenders to News America as part of a borrowing may be available, at News America’s option, at either (1) the base rate (as defined in the new credit agreement) which is a fluctuating rate equal to the sum of (a) the high of (i) JPMorgan Chase’s prime rate, (ii) the federal funds rate (as defined in the new credit agreement) plus 0.50% or (iii) one month LIBOR plus 1.00% plus (b) the applicable margin, or (2) at the Eurodollar rate (as defined in the new credit agreement) which is a periodic fixed rate equal to LIBOR plus the applicable margin. News America may terminate, in whole or in part, the unused portion of the credit facility amount under the new credit agreement at any time during the term of the new credit agreement. Once terminated, a commitment may not be reinstated. The new credit agreement contains certain customary affirmative and negative covenants each with customary exceptions, including limitations to the loan party’s ability to engage in transactions with affiliates, incur liens, merge into or consolidate with any other entity or incur subsidiary debt. In addition, the new credit agreement requires the company to maintain a leverage ratio of 4.5.