Exhibit 12.3 Fox Entertainment Group, Inc. Computation of Ratio of Earnings to Fixed Charges FOR THE NINE MONTHS ENDED MARCH 31, FOR THE YEARS ENDED JUNE 30, ------------ ------------------------------------ 2003 2002 2001 2000 1999 1998 ------------ ------ ----- ----- ---- ---- (US$ in millions) EARNINGS: Income before provision for income tax expense and cumulative effect of accounting change 1,194 1,015 391 265 347 311 ADDBACK: Fixed charges less capitalized interest 164 329 398 341 256 295 ------------ ------ ----- ----- ---- ---- Subtotal Earnings 1,358 1,344 789 606 603 606 LESS: Undistributed losses of equity affiliates (23) (166) (165) (102) (147) (81) Minority interest (4) (5) (3) (4) - - ------------ ------ ----- ----- ---- ---- Earnings available for Fixed Charges 1,385 1,515 957 712 750 687 ============ ====== ===== ===== ==== ==== FIXED CHARGES: Interest on debt and capitalized leases (including capitalized interest) 164 319 404 359 258 303 Interest element of rentals 19 32 23 25 17 18 ------------ ------ ----- ----- ---- ---- Total Fixed Charges 183 351 427 384 275 321 ============ ====== ===== ===== ==== ==== Ratio of Earnings to Fixed Charges 7.6 4.3 2.2 1.9 2.7 2.1 ============ ====== ===== ===== ==== ====