Businessweek

ational Geographic Channel HD reach approximately 84 million households in the United States; and Nat Geo Wild and Nat Geo Wild HD reach approximately 57 million subscribers in the United States. The National Geographic Channels air non-fiction and documentary programming on such topics as natural history, adventure, science, exploration, and culture. The Nat Geo Wild channels air non-fiction and documentary programming featuring natural history. In 2011, NGC Network launched Nat Geo Mundo, a Spanish-language national programming service airing non-fiction and documentary programming on topics similar to those featured on the National Geographic Channels. Fox International Channels (FIC): FIC operates, develops, and distributes primarily factual and general entertainment channels in various countries in Europe, Latin America, Africa, and Asia, including the Fox Channel, Fox Life, FX, SPEED, Utilisima (which is also distributed in the United States), Fox Crime, NEXT, FOX Traveller, the Voyage Channel, FOX Sports, STAR World, STAR Movies (also known as Fox Movies Premium in certain countries), and Chinese language television programming targeted at Chinese-speaking audiences in Asia. These channels are distributed either in HD or in standard definition (SD) or in certain cases, in both HD and SD. FIC also owns a 52.2% interest in NGC Network International LLC and NGC Network Latin America LLC (collectively ‘NGC International’), with NGHT holding a 26.8% interest and a subsidiary of British Sky Broadcasting Group plc (BSkyB) holding a 21% interest. NGC International produces and distributes the National Geographic Channel in various international markets. NGC International also produces and distributes the National Geographic Channel HD, the Nat Geo Adventure channel (in both HD and SD), the Nat Geo Wild channel (in both HD and SD), and the Nat Geo Music channel in international markets. The National Geographic Channel is shown in 37 languages and in approximately 173 countries internationally, including the United States. FIC owns a 77.5% equity interest in Latin America Pay Television, a partnership that distributes nine premium pay television channels (Moviecity Premieres HD, Moviecity Premieres, Moviecity Action HD, Moviecity Action, Moviecity Family, Moviecity Hollywood HD, Moviecity Hollywood, Moviecity Classics, and Moviecity Mundo and their multiplexes) and four basic television channels (The Film Zone HD, The Film Zone, Cinecanal, and Cinecanal HD) in Latin America (excluding Brazil). Such channels primarily feature theatrical motion pictures of Twentieth Century Fox and three other studio partners in the English language with Spanish subtitles. FIC also owns a majority equity interest in Elite Sports Limited, a company that owns and distributes BabyTV, a 24-hour channel dedicated to infants and toddlers under 3 years old to approximately 100 countries, including the United States. In 2011, the company acquired the 67% equity interest in Fox Pan American Sports LLC (FPAS). FPAS is an international sports programming and production entity, which owns and operates Fox Sports Latin America network, a Spanish and Portuguese-language sports network distributed to subscribers in certain Caribbean, and Central and South American nations. Also as a result of this transaction, the company owns 100% of Fox Deportes, a Spanish-language sports programming service distributed in the United States. Fox Deportes has approximately 2,100 hours of live and exclusive programming, including exclusive coverage of premiere soccer matches (such as Copa Santander Libertadores and Copa Bridgestone Sudamericana) and MLB, including All-Star, NLCS, and World Series games. Fox Deportes reaches approximately 20 million cable and satellite households in the United States, of which approximately 6 million are U.S. Latino. FIC owns a 50% interest in Mundofox Broadcasting, LLC, a joint venture with RCN MF Holdings, Inc., a Latin American television network and production company. In August 2012, the joint venture launched Mundofox, a new Spanish-language broadcast television network targeted at the U.S. Hispanic market. Mundofox