Earnings Per Share

3 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share

NOTE 7. EARNINGS PER SHARE

Basic earnings (loss) per share for the Class A Common Stock and Class B Common Stock is calculated by dividing Net income (loss) attributable to News Corporation stockholders by the weighted average number of shares of Class A Common Stock and Class B Common Stock outstanding. Diluted earnings (loss) per share for Class A Common Stock and Class B Common Stock is calculated similarly, except that the calculation includes the dilutive effect of the assumed issuance of shares issuable under the Company’s equity-based compensation plans.

On the Distribution Date, approximately 579 million shares of News Corporation common stock were distributed to 21st Century Fox stockholders as of the Record Date. This share amount is being utilized for the calculation of both basic and diluted earnings per share for the three months ended September 30, 2012 as no News Corporation common stock or equity-based awards were outstanding prior to June 28, 2013.

The dilutive effect of the Company’s equity-based awards issued in connection with the Separation is included in the computation of diluted earnings per share in the period subsequent to the Separation.

	For the three months ended September 30,
	2013		2012
	(in millions, except per share amounts)
Net income (loss) available to News Corporation stockholders—basic and diluted	$	27	$	(92	)
Weighted-average number of common shares outstanding—basic		578.8		578.8
Add: Effect of dilutive securities
RSUs, stock options and other equity awards		0.7		—
Weighted-average number of common shares outstanding—diluted		579.5		578.8
Net income (loss) per share available to News Corporation stockholders—basic and diluted	$	0.05	$	(0.16	)