Dear Colleagues,

You may have already seen the announcement that I have decided to
resign as an executive of News and that I will remain a director.
I would have liked to talk to you all personally about my decision but
clearly that’s impossible so I hope this email will go some of the way.

As you can imagine, this was a very difficult decision. And while
it was of a personal nature, it is important to me that you know that
it was not made lightly. Only after long and hard deliberations
over many months did I come to my final conclusion that now was the
time for me to take this next step forward in my life and my career.

Growing up in and around the company, I spent my most formative years
looking up to the men and women of News Corporation with great
admiration and deep affection. I knew from around the time I
could walk that I wanted to join this great team of people and share
with you the thrill of working for a truly unique and exciting company.

Since early days cleaning presses on the old Daily Mirror in Sydney to
publishing the New York Post, from interning as a sub at News
International to running our US television stations, from working
alongside you from Rome to Darwin, my admiration for you and your work
has only grown stronger. Along the way we have shared many
adventures and forged many strong and lasting friendships.

Going forward we face many difficult challenges as the media world
evolves at a pace never seen before. As our markets fragment we
must lead the way in finding ever more new and exciting relevance to
those who read our newspapers and watch our programs. I am
looking forward to exercising my new role as a non-executive director
to help steer us through the next generation of media challenges and
opportunities.

News is the most truly global of all media companies. Our
strength lies in our local management in markets around the world, not
just in Los Angeles or New York. This culture is unique and,
coupled with great leadership from my father, provides a powerful
engine for growth.

Needless to say I will be watching closely and anticipate celebrating
your many successes for years to come. There is no more talented
team of creative professionals in the world. You will go from
strength to strength.

On a personal note Sarah and I are looking forward to returning home to
Sydney with our son, Kalan. I know how much many of your husbands
and wives, children and friends sacrifice for this company, often with
little official recognition. I’d like to take this opportunity to
thank you and your families, for your dedication, loyal support, and
friendship over so many years.

Very sincerely,

Lachlan

Peter Fray

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