Document:

Sixteenth Supplemental Indenture

 Exhibit 4.25 
  

  

 NEWS AMERICA INCORPORATED, 
 Company, 
 NEWS CORPORATION, 
  
 Guarantor 
 and 
 U.S. BANK NATIONAL ASSOCIATION 
 (as successor to STATE STREET BANK AND TRUST COMPANY 
 and THE FIRST NATIONAL BANK OF BOSTON), 
 Trustee 
  
  

 SIXTEENTH SUPPLEMENTAL INDENTURE 
 Dated as of May 23, 2007 
 Amending and Supplementing the Indenture 
 Dated as of January 28, 1993 
  

 Senior Securities 
  

  

 SIXTEENTH SUPPLEMENTAL INDENTURE, dated as of May 23, 2007 among News America Incorporated, a
Delaware corporation (the “Company”), with its principal office located at 1211 Avenue of the Americas, New York, NY 10036, News Corporation, a Delaware corporation (“News Corporation”), News Australia Holdings Pty
Limited, an Australia corporation (ABN 32 105 197 028) (“NAHPL”), FEG Holdings, Inc., a Delaware corporation (“FEGH”), Fox Entertainment Group, Inc., a Delaware corporation (“FEG”), News America
Marketing FSI, LLC, a Delaware limited liability company (“NAM”), News Publishing Australia Limited, a Delaware corporation (“NPAL”) and U.S. Bank National Association (as successor to State Street Bank Trust
Company and The First National Bank of Boston), a national banking association, as trustee (the “Trustee”), amending and supplementing the Indenture, dated as of January 28, 1993 (the “Original Indenture”),
among the Company, the guarantors named therein and the Trustee, which provided for the issuance from time to time of the Company’s senior debt securities to be issued in one or more series as provided therein. (The Original Indenture, as
supplemented by the First Supplemental Indenture, dated as of March 24, 1993, the Second Supplemental Indenture, dated as of April 8, 1993, the Third Supplemental Indenture, dated as of May 20, 1993, the Fourth Supplemental Indenture,
dated as of May 28, 1993, the Fifth Supplemental Indenture, dated July 21, 1993, the Sixth Supplemental Indenture, dated as of January 25, 1994, the Seventh Supplemental Indenture, dated as of February 4, 1994, the Eighth
Supplemental Indenture, dated as of May 12, 1994, the Ninth Supplemental Indenture, dated as of August 1, 1995, the Tenth Supplemental Indenture, dated as of March 2, 2000, the Eleventh Supplemental Indenture, dated as of
February 14, 2001, the Twelfth Supplemental Indenture, dated as of June 27, 2003, the Thirteenth Supplemental Indenture, dated as of November 12, 2004, the Fourteenth Supplemental Indenture, dated as of March 14, 2005, the
Fifteenth Supplemental Indenture, dated as of March 21, 2005 and this Sixteenth Supplemental Indenture, as of May 23, 2007 and as it may hereafter be supplemented is referred to herein as the or this “Indenture”.)
Capitalized terms used herein and not otherwise defined herein have the meanings ascribed thereto in the Indenture. 
 RECITALS:

 WHEREAS, pursuant to Section 909 of the Original Indenture (as redesignated as Section 907 of the Original Indenture by the
First Supplemental Indenture), any Restricted Subsidiary that is not a Guarantor which issues any guarantee of any Indebtedness for money borrowed in excess of $50 million shall guarantee under the Indenture the Securities to the same extent and in
the same manner in which such other Indebtedness is so guaranteed; and 
 WHEREAS, Limited Liability Company “APR City/TVD,”
Limited Liability Company “Display,” Media Support Services Limited, Limited Liability Company “Outdoor Marketing (Russia),” Limited Liability Company “Outdoor Media Management” and Outdoor Systems Limited, which are
not currently guarantors under the Indenture, have issued guarantees of indebtedness for money borrowed in excess of $50 million (the “Restricted Subsidiary Guarantees”) and are required, therefore, to execute this Supplemental
Indenture pursuant to the terms of said Section 909 of the Original Indenture; and 
 WHEREAS, effective May 23, 2007 NAHL, NPAL,
FEG, FEGH, NAM, Limited Liability Company “APR City/TVD,” Limited Liability Company “Display,” Media Support 

 
Services Limited, Limited Liability Company “Outdoor Marketing (Russia),” Limited Liability Company “Outdoor Media Management” and
Outdoor Systems Limited were each unconditionally and fully released in writing from all obligations under guarantees of Indebtedness under a Five Year Credit Agreement dated as of June 27, 2003 among the Company, as Borrower, the Initial
Guarantors and Lenders party to the Credit Agreement, and Citibank, N.A., as Agent (the “Revolving Credit Agreement”) and are therefore, pursuant to Section 1205 of the Original Indenture as supplemented by Section 203 of
the Fourth Supplement, released and eliminated from the terms of the Guarantee and as Guarantors under the Indenture; and 
 WHEREAS, the
provisions of this Sixteenth Supplemental Indenture shall not adversely affect the interests of the Holders of Securities of any series in any material respects; and 
 WHEREAS, the Original Indenture is subject to the provisions of the United States Trust Indenture Act of 1939, as amended (the “TIA”), that are required to be part of the Original Indenture and the
Indenture shall, to the extent applicable, be governed by such provisions; and 
 WHEREAS, the Company has duly authorized the execution and
delivery of this Sixteenth Supplemental Indenture and have done all things necessary to make this Sixteenth Supplemental Indenture a valid agreement in accordance with its terms. 
 NOW, THEREFORE, THIS INDENTURE WITNESSETH: 
 For and in consideration of the
premises and the purchase of the Securities by the Holders thereof, it is mutually covenanted and agreed, for the equal and proportionate benefit of all Holders of the Securities or of any series thereof, as follows: 
 ARTICLE ONE 
 ORIGINAL INDENTURE

 SECTION 101. Effect of Original Indenture. 
 Except as specifically provided in this Sixteenth Supplemental Indenture, the Original Indenture, as heretofore supplemented and amended, shall remain in full force and effect. 
 ARTICLE TWO 
 AMENDMENTS TO THE
INDENTURE 
 SECTION 201. Addition of Guarantors. 
 In accordance with Section 909 of the Original Indenture (as amended and supplemented prior to the date hereof), each of the following entities hereby agrees to become a Guarantor under the Original Indenture:

  

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	 Name
	  	 Jurisdiction of Incorporation

	 Limited Liability Company “APR City/TVD”
	  	Russian Federation
	 Limited Liability Company “Display”
	  	Russian Federation
	 Media Support Services Limited
	  	British Virgin Islands
	 Limited Liability Company “Outdoor Marketing (Russia)”
	  	Russian Federation
	 Limited Liability Company “Outdoor Media Management”
	  	Russian Federation
	 Outdoor Systems Limited
	  	British Virgin Islands

 SECTION 202. References in the Indenture 
 By reason of the Restricted Subsidiary Guarantees, and the continuation, as Guarantor, of the Guarantor under the Indenture, all references in the
Indenture to the “Guarantors” are hereby deemed to refer to the following entities, and all references in the Indenture to each or any “Guarantor” are hereby deemed to refer to each of such entities: 
  

			
	 Name
	  	 Jurisdiction of Incorporation

	 News Corporation
	  	Delaware
	 News Australia Holdings Pty Ltd
	  	Australia
	 Fox Entertainment Group, Inc.
	  	Delaware
	 FEG Holdings, Inc.
	  	Delaware
	 News America Marketing FSI, LLC
	  	Delaware
	 News Publishing Australia Limited
	  	Delaware
	 Limited Liability Company “APR City/TVD”
	  	Russian Federation
	 Limited Liability Company “Display”
	  	Russian Federation
	 Media Support Services Limited
	  	British Virgin Islands
	 Limited Liability Company “Outdoor Marketing (Russia)”
	  	Russian Federation
	 Limited Liability Company “Outdoor Media Management”
	  	Russian Federation
	 Outdoor Systems Limited
	  	British Virgin Islands

 SECTION 203. Release of Certain Guarantors. 
 In accordance with Section 1205 of the Original Indenture as supplemented by Section 203 of the Fourth Supplemental Indenture, each of the
following entities is hereby eliminated as a Guarantor under the Indenture: 
  

			
	 Name
	  	 Jurisdiction of Incorporation

	 News Australia Holdings Pty Ltd
	  	Australia
	 FEG Holdings, Inc.
	  	Delaware
	 Fox Entertainment Group, Inc.
	  	Delaware
	 News America Marketing FSI, LLC
	  	Delaware
	 News Publishing Australia Limited
	  	Delaware
	 Limited Liability Company “APR City/TVD”
	  	Russian Federation
	 Limited Liability Company “Display”
	  	Russian Federation
	 Media Support Services Limited
	  	British Virgin Islands
	 Limited Liability Company “Outdoor Marketing (Russia)”
	  	Russian Federation
	 Limited Liability Company “Outdoor Media Management”
	  	Russian Federation

  

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	 Outdoor Systems Limited
	  	British Virgin Islands

 SECTION 204. References in the Indenture. 
 By reason of the elimination of certain Guarantors pursuant to Section 203 hereof, and the continuation, as Guarantor, of the Guarantor under the
Indenture, all references to the “Guarantor” are hereby deemed to refer to News Corporation, a Delaware corporation, as sole Guarantor. 
 ARTICLE THREE 
 MISCELLANEOUS 
 SECTION 301. Effect of Headings. 
 The Article and Section headings herein are for convenience of
reference only and shall not affect the construction hereof. 
 SECTION 302. Governing Law. 
 Subject to the following sentence, this Sixteenth Supplemental Indenture shall be governed by, and construed in accordance with, the laws of the State of
New York, without regard to principles of conflicts of laws. This Sixteenth Supplemental Indenture is subject to the provisions of the TIA that are required to be part of the Original Indenture and shall, to the extent applicable, be governed by
such provisions. 
 SECTION 303. Counterparts. 
 This Sixteenth Supplemental Indenture may be executed in any number of counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 
 SECTION 304. Trustee. 
 The Trustee
makes no representation as to the validity or sufficiency of this Sixteenth Supplemental Indenture. The recitals and statements herein are deemed to be those of the Company and the Guarantor and not of the Trustee. 
  

 4 

 IN WITNESS WHEREOF, the parties hereto have caused this Sixteenth Supplemental Indenture to be duly
executed as of the day and year first above written. 
  

			
	News America Incorporated
		
	By:	 	/s/    Lawrence A. Jacobs        
	Name:	 	Lawrence A. Jacobs
	Title:	 	Senior Executive Vice President and General Counsel

  

			
	News Corporation, as Guarantor
		
	By:	 	/s/    Lawrence A. Jacobs        
	Name:	 	Lawrence A. Jacobs
	Title:	 	Senior Executive Vice President and General Counsel

  

			
	News Australia Holdings Pty Ltd, as Guarantor
		
	By:	 	/s/    Lawrence A. Jacobs        
	Name:	 	Lawrence A. Jacobs
	Title:	 	Senior Executive Vice President and General Counsel

  

			
	FEG Holdings, Inc., as Guarantor
		
	By:	 	/s/    Lawrence A. Jacobs        
	Name:	 	Lawrence A. Jacobs
	Title:	 	Senior Executive Vice President and General Counsel

  

			
	Fox Entertainment Group, Inc., as Guarantor
		
	By:	 	/s/    Lawrence A. Jacobs        
	Name:	 	Lawrence A. Jacobs

  

 5 

			
	Title:	 	Senior Executive Vice President and General Counsel

  

			
	News America Marketing FSI, L.L.C. , as Guarantor
		
	By:	 	/s/    Lawrence A. Jacobs        
	Name:	 	Lawrence A. Jacobs
	Title:	 	Senior Executive Vice President and General Counsel

  

			
	News Publishing Australia Limited, as Guarantor
		
	By:	 	/s/    Lawrence A. Jacobs        
	Name:	 	Lawrence A. Jacobs
	Title:	 	Senior Executive Vice President and General Counsel

  

			
	Media Support Services Limited, as Guarantor
		
	By:	 	/s/    Olga Bortnyaeva        
	Name:	 	Olga Bortnyaeva
	Title:	 	as attorney

  

			
	Outdoor Systems Limited, as Guarantor
		
	By:	 	/s/    Olga Bortnyaeva        
	Name:	 	Olga Bortnyaeva
	Title:	 	as attorney

  

 6 

			
	Limited Liability Company “APR City/TVD”, as Guarantor
		
	By:	 	/s/    Vladimir Semyachkin        
	Name:	 	Vladimir Semyachkin
	Title:	 	General Director

  

			
	Limited Liability Company “Display”, as Guarantor
		
	By:	 	/s/    Olga Pavlova        
	Name:	 	Olga Pavlova
	Title:	 	General Director

  

			
	Limited Liability Company “Outdoor Marketing (Russia)”, as Guarantor
		
	By:	 	/s/    Igor Chernenko        
	Name:	 	Igor Chernenko
	Title:	 	General Director

  

			
	Limited Liability Company “Outdoor Media Management”, as Guarantor
		
	By:	 	/s/    Vladimir Ryabovol        
	Name:	 	Vladimir Ryabovol
	Title:	 	General Director

  

 7 

			
	U.S. Bank National Association, as Trustee
		
	By:	 	/s/    James P. Freeman        
	Name:	 	James P. Freeman
	Title:	 	Vice President

  

 8 

					
	STATE OF NEW YORK	 	)	 	
		 		 	
		 	) ss.:	 	
		 		 	
	COUNTY OF NEW YORK	 	)	 	

 On this 23 day of May, 2007, before me personally appeared Lawrence Jacobs, who acknowledged
himself to be the Senior EVP of News America Incorporated, and that he, as such, being authorized so to do, executed the foregoing instrument for the purposes therein contained, by signing in the name of such corporation as such
                . 
 IN WITNESS WHEREOF, I hereunto set my
hand and official seal. 
  

			
		
	By:	 	/s/    Jacinta T. Palmer        
	Name:	 	Jacinta D. Thomas Palmer
	Title:	 	 Notary Public, State of New York
 No.
01TH6062503
 Qualified in Kings County
 Commission Expires Aug 6,
2009

 [Notarial Seal] 
  

 9Fifth Supplemental Indenture

 Exhibit 4.44 
  

  

 NEWS AMERICA INCORPORATED, 
 Company, 
 NEWS CORPORATION, 
 NEWS HOLDINGS LIMITED, 
 NEWS AUSTRALIA HOLDINGS PTY LIMITED, 
 FEG HOLDINGS, INC., 
 FOX ENTERTAINMENT GROUP, INC., 
 NEWS AMERICA MARKETING FSI, LLC, 
 NEWS PUBLISHING AUSTRALIA LIMITED,

 Guarantors 
 and

 THE BANK OF NEW YORK, 
 Trustee 
  

 FIFTH SUPPLEMENTAL INDENTURE 
 Dated as of March 14, 2005 
 Amending and Supplementing the Indenture 
 Dated as of November 12, 1996 

 

 5% Subordinated Discount
Debentures due 2016 
  

  

 FIFTH SUPPLEMENTAL INDENTURE, dated as of March 14, 2005, among News America Incorporated, a
Delaware corporation (the “Company”), with its principal office located at 1211 Avenue of the Americas, New York, NY 10036, News Corporation, a Delaware corporation (“News Corporation”), News Holdings Limited
(formerly known as The News Corporation Limited), an Australia corporation (ABN 40 007 910 330) (“News Holdings”), News Australia Holdings Pty Limited (formerly known as Carlholt Pty Ltd), an Australia corporation (ABN 32 105 197
028) (“NAHPL”), FEG Holdings, Inc., Fox Entertainment Group, Inc., News America Marketing FSI, LLC, News Publishing Australia Limited, and The Bank of New York, a New York banking corporation (the “Trustee”),
amending and supplementing the Amended and Restated Indenture, dated as of November 12, 1996 (the “Original Indenture”), among the Company, the guarantors named therein and the Trustee, which provided for the issuance of the
Company’s 5% Subordinated Discount Debentures due November 12, 2016 (the “Securities”). (The Original Indenture, as supplemented by the First Supplemental Indenture, dated as of March 2, 2000, the Second Supplemental
Indenture, dated as of February 14, 2001, the Third Supplemental Indenture, dated as of June 27, 2003, the Fourth Supplemental Indenture, dated as of November 12, 2004, and this Fifth Supplemental Indenture, dated as of March 14,
2005, and as it may hereafter be supplemented is referred to herein as the or this “Indenture”.) Capitalized terms used herein and not otherwise defined herein have the meanings ascribed thereto in the Indenture. 

RECITALS: 
 WHEREAS, on
November 12, 2004, News Holdings effected a corporate reorganization in accordance with the Corporations Act of Australia pursuant to which the publicly held shares of News Holdings were exchanged for shares of News Corporation (the
“Share Exchange”); and 
 WHEREAS, in connection with the Share Exchange, NAHPL became a wholly owned Subsidiary of News
Corporation, and News Holdings became a Subsidiary of NAHPL and News Corporation; and 
 WHEREAS, on March 14, 2005, subject to the
receipt of certain consents, all or substantially all of the assets of News Holdings will be transferred to NAHPL, which, on the date of such transfer, will continue to be a wholly owned Subsidiary of News Corporation (the “Asset
Transfer”); and 
 WHEREAS, the definition of “News Holdings” in Section 101 of the Indenture provides for the
replacement of News Holdings by a successor Guarantor pursuant to the Indenture; and 
 WHEREAS, Section 901 of the Indenture provides
that, without the consent of Holders, the parties to the Indenture may enter into an indenture supplemental to the Indenture to cure any ambiguity, to correct or supplement any provision of the Indenture which may be inconsistent with any other
provision of the Indenture, or to make any other provisions with respect to matters or questions arising under the Indenture which shall not be inconsistent with the provisions of the Indenture, provided that such action shall not adversely affect
the interests 

 
of the Holders of Securities or, so long as any of the Preferred Securities shall remain outstanding, the holders of the Preferred Securities; 
 WHEREAS, the Original Indenture is subject to the provisions of the United States Trust Indenture Act of 1939, as amended (the “TIA”),
that are required to be part of the Original Indenture and the Indenture shall, to the extent applicable, be governed by such provisions; and 
 WHEREAS, the Company and each of the Guarantors have duly authorized the execution and delivery of this Fifth Supplemental Indenture and have done all things necessary to make this Fifth Supplemental Indenture a valid agreement in
accordance with its terms. 
 NOW, THEREFORE, THIS INDENTURE WITNESSETH: 
 For and in consideration of the premises, it is mutually covenanted and agreed, for the equal and proportionate benefit of all Holders of the Securities,
as follows: 
 ARTICLE ONE 
 ORIGINAL INDENTURE 
 SECTION 101. Effect of Original Indenture. 
 Except as specifically provided in this Fifth Supplemental Indenture, the Original Indenture (as amended and supplemented prior to the date hereof) shall
remain in full force and effect. 
 ARTICLE TWO 
 AMENDMENTS TO THE INDENTURE 
 SECTION 201. Amendments to the Indenture: 
 Effective upon the Asset Transfer, in accordance with Section 901 of the Indenture: 
 (a) Without further action on the part of News Corporation, News Holdings or any other Person, (i) News Corporation shall assume all the obligations
of News Holdings under the Indenture, the Securities and the Guarantees, (ii) News Corporation shall succeed to, and be substituted for, and may exercise every right and power of News Holdings under the Indenture, the Securities and the
Guarantees with the same effect as if News Corporation had been named as “News Corporation” in the Indenture, the Securities and the Guarantees, and (iii) News Holdings shall be discharged and released from all obligations and
covenants under the Indenture, the Securities and the Guarantees. 
 (b) Section 101 of the Indenture shall be amended as follows:

  

	 	(i)	To delete the definition of News Holdings in its entirety. 

  

 2 

	 	(ii)	To amend the definition of “Change of Control” by deleting the words “Ordinary Shares” and replacing them with the words “common stock.”

 (c) Clause (i) of Section 1205 of the Indenture shall be amended in its entirety to read as follows: 

 

	 	(i)	the sale or disposition (by merger or otherwise) of a Subsidiary Guarantor to an entity that is not a Subsidiary of News Corporation or 

 (d) All references (in any form or terms) in the Indenture, the Securities and the Guarantees to News Corporation or News Holdings under its former name
or any variation thereof, including News Corporation, shall be deemed to be references to News Corporation (and not News Holdings); provided that any such references in Section 1007 of the Indenture shall be deemed to refer to News Holdings.

 (e) News America Marketing FSI, Inc., a guarantor, has been converted from a Delaware corporation to a Delaware limited liability company
named News America Marketing FSI, LLC. 
 ARTICLE THREE 
 MISCELLANEOUS 
 SECTION 301. Effect of Headings. 
 The Article and Section headings herein are for convenience of reference only and shall not effect the construction hereof. 
 SECTION 302. Governing Law. 
 Subject to the
following sentence, this Fifth Supplemental Indenture shall be governed by, and construed in accordance with, the laws of the State of New York, without regard to principles of conflicts of laws. This Fifth Supplemental Indenture is subject to the
provisions of the TIA that are required to be part of the Original Indenture and shall, to the extent applicable, be governed by such provisions. 
 SECTION 303. Counterparts. 
 This Fifth Supplemental Indenture may be executed in any number of counterparts, each of which shall
be deemed an original, but all of which together shall constitute one and the same instrument. 
  

 3 

 SECTION 304. Trustee. 
 The Trustee makes no representation as to the validity or sufficiency of this Fifth Supplemental Indenture. The recitals and statements herein are deemed to be those of the Company and the Guarantors and not of the
Trustee. 
  

 4 

 IN WITNESS WHEREOF, the parties hereto have caused this Fifth Supplemental Indenture to be duly executed
as of the day and year first above written. 
  

			
	News America Incorporated

			
	
		
	By:	 	/s/  Lawrence A. Jacobs
	 Name:
 Title:
	 	 Lawrence A. Jacobs
 Senior Executive Vice
President
 and General Counsel

  

			
	 News Holdings Limited, as Guarantor (until the
 Asset Transfer)
  
 News Corporation (a Delaware corporation),
 as Guarantor
  
 News Australia Holdings Pty Limited, as
 Guarantor
  
 FEG Holdings, Inc., as Guarantor
  
 Fox Entertainment Group, Inc., as Guarantor
  
 News
America Marketing FSI, LLC, as Guarantor
  
 News Publishing Australia Limited, as
Guarantor

  

			
	
		
	By:	 	/s/  Lawrence A. Jacobs
	 Name:
 Title:
	 	 Lawrence A. Jacobs
 Senior Executive Vice
President
 and General Counsel, News America
 Incorporated, as
Attorney for the Guarantors

  

			
	The Bank of New York, as Trustee

  

			
	
		
	By:	 	/s/  Kisha A. Holder
	 Name:
 Title:
	 	 Kisha A. Holder
 Assistant Vice
President

  

 5 

									
	 STATE OF NEW YORK
	  	)	 		 		 	
					
		  	) ss.:	 		 		 	
					
	 COUNTY OF NEW YORK
	  	)	 		 		 	

 On this 14 day of March, 2005, before me personally appeared Lawrence A. Jacobs, who acknowledged
himself to be the Senior Executive Vice President and General Counsel of News America Incorporated, and that he, as such Senior Executive Vice President and General Counsel, being authorized so to do, executed the foregoing instrument for the
purposes therein contained, by signing in the name of such corporation as such Senior Executive Vice President and General Counsel. 
 IN
WITNESS WHEREOF, I hereunto set my hand and official seal. 
  

			
	
		
	By:	 	/s/  Catherine B. McDermott
	 Name:
 Title:
	 	 Catherine B. McDermott
 Notary Public, State of New York

 No. 02MC4974028
 Qualified in Kings County
 Commission Expires Nov. 5, 2006

 [Notarial Seal] 
  

 6

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