Twenty-First Century Fox (TFCF) 10-Q 2010 Q3 Quarterly report

Exhibit 12.1

News Corporation

Computation of Ratio of Earnings to Fixed Charges

(in Millions, Except Ratio Amounts)

(Unaudited)

	For the nine months ended March 31,
	2010			2009
Earnings:
Income before income (loss) tax expense	$	2,419		$	(5,563	)
Add:
Equity (earnings) losses from affiliates		(271	)		369
Dividends received from affiliates		190			157
Fixed charges, excluding capitalized interest		931			892
Amortization of capitalized interest		60			35
Total earnings available for fixed charges	$	3,329		$	(4,110	)
Fixed charges:
Interest on debt and finance lease charges	$	761		$	690
Capitalized interest		35			45
Interest element on rental expense		170			202
Total fixed charges	$	966		$	937
Ratio of earnings to fixed charges		3.5			*	*

** Earnings did not cover fixed charges by $5.0 billion during the nine months ended March 31, 2009 due to a non-cash impairment charge of $8.4 billion ($6.7 billion net of tax). (See Note 8 to the accompanying unaudited consolidated financial statements for further discussion)