News Corporation (NWS) 2012年年度报告「NASDAQ」.pdf

1、NewsCorp.AnnuAl RepoRt 2012NEWS CORP.AnnuAl RepoRt 2012425667.COVER.CX.CS5.indd 18/29/12 5:21 PMOur aim is tO unlOck mOre value fOr Our stOckhOldersWe have no intention of resting on our laurelsWe are alWays investing in the next generation425667.TEXT.CS5.indd 28/28/12 5:10 PM425667.TEXT.CS5.indd 38

2、/27/12 8:44 PMThe Worlds leader in qualiTy Journalism 425667.TEXT.CS5.indd 48/28/12 5:11 PMIt takes no special genius to post good earnings in a booming economy.Its the special company that delivers in a bad economic environment.At a time when the U.S.has been weighed down by its slowest recovery si

3、nce the Great Depression,when Europes currency threatens its union and,I might add when our critics flood the field with stories that refuse to move beyond the misdeeds at two of our papers in Britain,I am delighted to report something about News Corporation you might not know from the headlines:In

4、2012,for the second year in a row,we have brought our stockholders double-digit growth in total segment operating income.We accomplished this because we do not consider ourselves a conventional company.A conventional company tends to sit back on the business models that worked for it in the past.Our

5、 corporate culture at News Corp.is very different.We know that business models that work today may be obsolete tomorrow,so we are always investing in the next generation especially when our established models are doing well.Another way of putting it is this:The growth in earnings that we report toda

6、y is the result of tough and sometimes unpopular decisions we took in the past.Weve just made another one of those big decisions.In June,I announced the Boards approval to pursue a change that will take one of the largest and most successful media enterprises in the world and transform it into two s