Twenty-First Century Fox (TFCF) 10-Q 2009 Q2 Quarterly report

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,
	2008			2007
Earnings:
(Loss) Income before income tax expense and minority interest in subsidiaries	$	(7,188	)	$	2,568
Add:
Equity losses (earnings) from affiliates		329			(196	)
Dividends received from affiliates		140			158
Fixed Charges, excluding capitalized interest		558			546
Amortization of capitalized interest		18			17
Total (losses) earnings available for fixed charges	$	(6,143	)	$	3,093
Fixed charges:
Interest on debt and finance lease charges	$	452		$	458
Capitalized interest		32			18
Interest element on rental expense		106			88
Total fixed charges	$	590		$	564
Ratio of earnings to fixed charges		*	*		5.5

** Earnings do not cover fixed charges by $6.7 billion during the six months ended December 31, 2008 due to the non-cash impairment charge of $8.4 billion. (See Note 7 to the Unaudited Consolidated Financial Statements of News Corporation for further discussion)