1、ANNUAL REPORT 2010POWERFUL NEWS BRANDS405449_12pg.Text.CS4.indd 28/13/10 5:14 PMWORLD-CLASS SPORTS405449_12pg.Text.CS4.indd 48/13/10 5:14 PMCOMPELLING ENTERTAINMENT6 News Corporation Rupert MurdochChairman and Chief Executive OfficerNews CorporationDear Fellow Stockholders:I am pleased to report tha
2、t,even as world economies remain fragile,News Corporation has completed fi scal 2010 renewed and fundamentally stronger than when I wrote to you at this time last year.We entered this year facing strong economic headwinds and great uncertainty about the health of our markets.We focused ourselves on
3、strengthening operations this past year and emerged with our businesses improving more than the markets themselves.Our impressive results are widely distributed across most of our business segments and from varied sources around the world.They are a testament to the clear vision our senior managemen
4、t has maintained in the face of broad economic challenges,as well as to the dedication of our more than 50,000 innovative colleagues.These results also underscore how well positioned we are fi scally,operationally and strategically for further growth across all of our markets.The growth of our cable
5、 and subscription businesses is excellent and will continue to improve strongly.But,let me be clear:I do not believe we are out of the turmoil yet.Sovereign debt pressures,soaring defi cits and unacceptable U.S.unemployment levels are key obstacles to the global economic recovery.Others may see more
6、 positive signs,but I believe until these issues are addressed,markets,governments,currencies and consumer behavior will be unpredictable.Even more unpredictable is the fundamental transformation that is disrupting the media industry.Each day new platforms and new ways of communicating and sharing c