Dear Colleagues:

Wow! What a year of events, good and bad!

What strikes me most is the creativity and dedication each of you brings to your work. Because of your talents, we remain one of the world’s most successful media companies. And thanks to your extraordinary commitment, every day we touch the lives of billions of people around the world. Together we engage, inform, educate and entertain them. We do so with a spirit of innovation and public service that more than anything else defines who we are as a company.

News Corporation has been tested on many fronts this past year, and we face these challenges as we have always done: head on, learning from our mistakes and looking with an unblinking eye toward the future.

Each of you makes a unique contribution to our success. Across our businesses and across the world, you push us forward and ensure an ever-rising level of performance. Above all, you prove that even in the most difficult times, men and women of character will thrive.

Through our work, you make remarkable contributions to society, and enrich the lives of people everywhere. I thank you for all you have done in 2011 and will do in the challenging year ahead.

I wish you, your families and loved ones the happiest of holidays and the merriest of Christmases.