Star China Media Announces New Leadership Team

Shanghai & Hong Kong – May 26, 2011 – The Board of Directors of Star China Media (SCM), a media and entertainment joint venture between China Media Capital and News Corporation, today announced the appointment of Tian Ming as the company’s Chief Executive Officer and Cao Zhigao as its Chief Operating Officer with immediate effect. Tian Ming succeeds Jack Gao, who was Vice President, News Corporation, and has been appointed as Senior Vice President, News Corporation, and CEO, News Corporation China Investments, to focus on developing News Corporation’s other investment opportunities in China.

Prior to his current role, Tian Ming was Group Vice President of Shanghai Media Group (SMG), overseeing SMG’s flagship channel, Dragon TV and the group’s variety programming. Tian began his career in media in 1992 as part of the team in launching the Shanghai-based Oriental Television. During his eight year tenure with Oriental Television, Tian launched well-known investigative news and current affairs programmes such as OTV Widewatch and Hotline. Tian also received numerous awards in news production and reporting. Tian joined SMG in 2002 and since then has taken up various roles in production, programming and management and has held several key positions in the Group including General Manager of Dragon TV in 2009 and General Manager of Variety Programming and Deputy Director of Dragon TV in 2005, whilst he led and created many hit shows including China’s Got Talent, My Hero, Mr. Zhou Live Show, etc. One year into Tian’s leadership, the advertising revenue of Dragon TV was doubled.

Cao Zhigao has 25 years of media experience with a focus on advertising sales and management. Before joining SCM, Cao has been with SearchMedia Holdings since 2008. He joined the company as Executive Director and was promoted to President, Greater China, in 2009. Prior to SearchMedia, Cao served as COO of CGEN Digital Media from 2005 to 2008, where he led the growth of the company before it was acquired by Focus Media Holding in 2007.

“Tian Ming’s media background and his impressive track record of growing television companies cannot come at a better time as SCM is gearing up for significant expansion, “said Li Ruigang, Chairman of SCM. “Together with Cao Zhigao who has an unmatched wealth of experience in advertising and operations, the Board is confident that the company will achieve great success for the future. We feel fortunate to have attracted them to SCM.”

Li Ruigang continued, “The Board would also like to thank Jack for his dedication to the growth of the company and contribution to the establishment of SCM. His leadership will be missed and we wish him the best in his future endeavors.”

Tian said, “This is truly an exciting opportunity and I am thrilled to take on this role. SCM’s media assets including Xing Kong Wei Shi, Xing Kong International, Channel [V], and the Fortune Star movie library represent some of the most well-known brands in Chinese language entertainment programming and possess immense growth potential. I look forward to working with the Board, all of our business

partners and most importantly, the team we have in place to build long-term value for all of our stakeholders.”

About Star China Media

Star China Media Limited is a media and entertainment joint venture between China Media Capital (CMC) and News Corporation, delivering quality and popular Chinese television and film entertainment to global Chinese audience. It broadcasts three Chinese language channels, Xing Kong, Xing Kong International, Channel [V] Mainland China, and owns Fortune Star, the world’s largest contemporary Chinese film library.

About News Corporation

News Corporation (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) had total assets as of March 31, 2011 of approximately US$60 billion and total annual revenues of approximately US$33 billion. News Corporation is a diversified global media company with operations in six industry segments: cable network programming; filmed entertainment; television; direct broadcast satellite television; publishing; and other. The activities of News Corporation are conducted principally in the United States, Continental Europe, the United Kingdom, Australia, Asia and Latin America.

About China Media Capital

China Media Capital (CMC) is China’s first media sector focused alternative investment management company dedicated to media investments both in China and the International market. In April 2009, CMC was registered and approved by China’s National Development and Reform Commission with RMB 5 billion in assets under management. CMC’s principal founding partners includes but not limited to Shanghai Media Group and China Development Bank. CMC will target media assets with consistent cash flow, strong market position, well established branding and high future growth potential. CMC will focus on growth capital, corporate restructuring and MBO/privatization financing opportunities.

Contact:

News Corporation

Jannie Poon

+852 2621 8619

jpoon@newscorp.com

China Media Capital

Wu Jiaming

+86 21 6258 4095

wujiaming@chinamediacapital.com