Twenty-First Century Fox (TFCF) 10-Q 2012 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,
	2011			2010
Earnings:
Income before income tax expense	$	2,563		$	1,884
Add:
Equity earnings from affiliates		(263	)		(161	)
Dividends received from affiliates		253			161
Fixed charges, excluding capitalized interest		622			571
Amortization of capitalized interest		25			26
Total earnings available for fixed charges	$	3,200		$	2,481
Fixed charges:
Interest on debt and finance lease charges	$	515		$	462
Capitalized interest		22			18
Interest element on rental expense		107			109
Total fixed charges	$	644		$	589
Ratio of earnings to fixed charges		5.0			4.2