Feg S-4 Registration of securities issued in business combination transactions

Exhibit 12.1

News Corporation

Computation of Ratio of Earnings to Fixed Charges

(in Millions, Except Ratio Amounts)

(Unaudited)

	For the six months ended December 31, 2005			Fiscal Year Ended June 30,
				2005			2004			2003		2002			2001
Earnings:
Income from continuing operations before income tax expense and minority interest in subsidiaries	$	1,979		$	3,561		$	2,755		$	1,643	$	(7,234	)	$	335
Add:
Equity (earnings) losses from affiliates		(346	)		(355	)		(170	)		344		7,782			923
Dividends received from affiliates		82			138			81			21		14			5
Fixed Charges (excluding capitalized interest and perpetual preference dividends)		440			845			797			747		832			837
Amortization of capitalized interest		23			48			40			35		35			30
Total earnings available for fixed charges	$	2,178		$	4,237		$	3,503		$	2,790	$	1,429		$	2,130
Fixed charges:
Interest on debt and finance lease charges	$	385		$	737		$	684		$	674	$	767		$	780
Capitalized interest		13			31			42			26		22			63
Perpetual preference dividends paid		—			10			27			27		27			28
Interest element on rental expense		55			108			113			73		65			57
Total fixed charges	$	453		$	886		$	866		$	800	$	881		$	928
Ratio of earnings to fixed charges		4.8			4.8			4.0			3.5		1.6			2.3