News Corporation to Explore Strategic Options for the Continued Development of News Outdoor Group



    NEW YORK, June 21 /CNW/ - News Corporation today announced that it
intends to explore strategic options for News Outdoor Group in connection with
News Outdoor's continued development plans. These strategic options include,
but are not limited to, exploring the opportunity to expand the existing
shareholder group through new strategic and private equity partners.

    Headquartered in Moscow, News Outdoor is the world's leading emerging
market out-of-home advertising company with an absolute leadership position in
Russia, strong operations in Poland, Czech Republic, Romania, Ukraine and
Bulgaria, and a growing presence in Turkey, Israel, India and SE Asia.

    News Outdoor employs more than 4,500 employees and operates more than
50,000 advertising displays in more than 300 cities across 13 time zones. News
Outdoor offers a full range of advertising and non-advertising products
including billboards, bus shelters and other street furniture, as well as
unique displays, airport, transit and in-store point-of-sale displays. More
information on News Outdoor's products is available through the group's
website, http://www.newsoutdoor.com

    News Corporation has retained Goldman Sachs International to assist in
the process of exploring strategic options.

    News Corporation (NYSE:   NWS, NWS.A; ASX: NWS, NWSLV) had total assets as
of March 31, 2007 of approximately US$62 billion and total annual revenues of
approximately US$28 billion. News Corporation is a diversified entertainment
company with operations in eight industry segments: filmed entertainment;
television; cable network programming; direct broadcast satellite television;
magazines and inserts; newspapers; book publishing; and other. The activities
of News Corporation are conducted principally in the United States,
Continental Europe, the United Kingdom, Australia, Asia and the Pacific Basin.

    For more information about News Corporation, please visit
http://www.newscorp.com




For further information:

For further information: News Corporation Media: Andrew Butcher,
212-852-7070 or Investors: Reed Nolte, 212-852-7092

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NEWS CORPORATION

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