News Digital Media Forms News Digital Ventures; Kathryn Fink Named President of New Unit; News Corporation Leverages Global Marketing and Distribution Platforms

Business Wire, Dec 2, 1999

NEW YORK--(BUSINESS WIRE)--Dec. 2, 1999--

News Digital Media, a division of News Corporation (NYSE: NWS, NWS/A) today announced the formation of News Digital Ventures, a strategic Internet investment unit lead by newly named president, Kathryn Fink. In her new role, Fink will continue to manage strategic investments and initiatives for News Digital Media, as well as its parent company, News Corporation. The announcement was made by James Murdoch, executive vice president for News Corporation, to whom Fink will report.

News Digital Ventures will function as an investment and strategic growth vehicle for News Digital Media, bolstering the company's already significant Internet holdings. The primary object of this new unit is to leverage News Corporation's global marketing and distribution platforms, as well as its original digital content assets through venture capital investments. Subsequent investments and strategic relationships will support the overall growth of News Digital Media, enabling the company to extend its current assets, as well as, explore opportunities for growth in emerging areas.

Prior to developing News Digital Ventures, Fink served as senior vice president of News Digital Media since the company's inception in November 1997. She managed the business operations of the company's Internet sites, including FOXSports.com, FOXNews.com, FOXMarketwire and FOX.com. During her tenure, Fink played a pivotal role in identifying and securing many of News Digital Media's existing strategic initiatives, including minority stakes in Juno, Six Degrees, The Street.com, PlanetRx, Rivals.com, BET.com and Yupi.com.

"Creative partnerships and investments are critical in building and extending our digital media assets," said James Murdoch, executive vice president of News Corporation. "Kathryn has a deep understanding of News Digital Media and a stellar track record with Internet investments. The creation of News Digital Ventures gives us a vehicle for building on an already substantial base."

Prior to joining News Digital Media, Fink served as associate of business development/corporate finance for News Corporation's U.S. corporate office. Before relocating from Australia to the United States, Fink served as marketing manager at The Sunday Herald, an Australian publication with a circulation of more than 300,000. Fink also served as education features editor for The Sun News Pictorial, Australia's largest daily newspaper. She began her career at The Herald and Weekly Times, a newspaper division of News Limited in Melbourne, Australia.

About News Digital Media

News Digital Media, formally News America Digital Publishing, is the electronic publishing division of News Corporation's News America Publishing Group. News Digital Media engages in three primary activities: operating FOXNews.com, FOXSports.com, FOXMarketwire.com, and FOX.com; developing related interactive services such as broadband products and enhanced television; and directing investment activities and strategy for News Corporation as they relate to digital media.

About News Corporation

News Corporation has total assets as of June 30, 1999 of approximately US$36 billion and total annual revenues of approximately US$14 billion. News Corporation's diversified global operations in the United States, Canada, the United Kingdom, Australia, Latin America and the Pacific Basin include the production and distribution of motion pictures and television programming; television, satellite and cable broadcasting; the publication of newspapers, magazines, books; the production and distribution of promotional and advertising products and services; the development of digital broadcasting; the development of conditional access and subscriber management systems; and the creation and distribution of popular on-line programming.