Credit Appraisal and Valuation Using Comparables Company Method, DCF and Market Valuation
NEWS CORPORATION
CREDIT APPRAISAL MEMORANDUM
The report contains credit appraisal and valuation of the company on the basis of comparables company method, DCF and market valuation.
Aditi Phadnis
11/02/2013
NEWS CORPORATION
Feb. 11
EXECUTIVE SUMMARY
COMPANY SNAPSHOT
News Corp (“NWSA” or the “Company”) is one of the largest international diversified entertainment and media companies in the world.
The Company operates in five industry segments
Cable Networks- This includes channels such as Fox Ne ws, FX and Regional Sports Networks. th
Filmed Entertainment consists of 20 Century Fox, which distributes motion pictures and television series, through the box office, home video sales, VOD and television.
Television , which principally consists of the broadcasting of network programming in the United States and the operation o f
27 full power broadcast television stations, including 9 duopolies, in the United States (of these stations, 17 are affiliate d with the FOX Broadcasting Company (“FOX”) and 10 are affiliated with Master Distributi on Service, Inc. (“MyNetworkTV”).
Direct Broadcast Satellite Television, which consists of the distribution of basic and premium programming services via satellite and broadband directly to subscribers in Italy.
Publishing, which principally consists of the Company’s newspapers and information services, book publishing and integrated marketing services businesses. The newspapers and information services business principally consists of the publication of national newspapers in the United Kingdom, the publication of approximately 140 newspapers in Australia, the publication of a metropolitan newspaper and a national newspaper (with international editions) in the United States and the provision of information services. The book publishing business consists of the publication of English language books throughout the world and the integrated marketing services business consists of the publication of free -standing inserts and the
CREDIT APPRAISAL MEMORANDUM
The report contains credit appraisal and valuation of the company on the basis of comparables company method, DCF and market valuation.
Aditi Phadnis
11/02/2013
NEWS CORPORATION
Feb. 11
EXECUTIVE SUMMARY
COMPANY SNAPSHOT
News Corp (“NWSA” or the “Company”) is one of the largest international diversified entertainment and media companies in the world.
The Company operates in five industry segments
Cable Networks- This includes channels such as Fox Ne ws, FX and Regional Sports Networks. th
Filmed Entertainment consists of 20 Century Fox, which distributes motion pictures and television series, through the box office, home video sales, VOD and television.
Television , which principally consists of the broadcasting of network programming in the United States and the operation o f
27 full power broadcast television stations, including 9 duopolies, in the United States (of these stations, 17 are affiliate d with the FOX Broadcasting Company (“FOX”) and 10 are affiliated with Master Distributi on Service, Inc. (“MyNetworkTV”).
Direct Broadcast Satellite Television, which consists of the distribution of basic and premium programming services via satellite and broadband directly to subscribers in Italy.
Publishing, which principally consists of the Company’s newspapers and information services, book publishing and integrated marketing services businesses. The newspapers and information services business principally consists of the publication of national newspapers in the United Kingdom, the publication of approximately 140 newspapers in Australia, the publication of a metropolitan newspaper and a national newspaper (with international editions) in the United States and the provision of information services. The book publishing business consists of the publication of English language books throughout the world and the integrated marketing services business consists of the publication of free -standing inserts and the