Dear Colleagues:

I’m pleased to let you know that today we are announcing Chase Carey will return to News Corporation as Deputy Chairman, President and Chief Operating Officer and rejoin our board of directors. Attached is the press release.

Chase has been an important advisor and a close friend to me for several decades. I know that his leadership, strategic capabilities and more than 15 years of experience at our Company will prove invaluable as we face the challenges and opportunities before us.

As many of you know, Chase joined News Corporation in 1988 and played a central role in managing the operations and strategy of several key businesses. He held senior positions during his tenure, including Chief Executive Officer of Sky Global Networks and Co-Chief Operating Officer of both Fox Entertainment Group and News Corporation, before taking the CEO position at DIRECTV.

His appointment caps a particularly exciting and active period for News Corporation, and we all welcome him back.

We named a new head of digital operations, Jon Miller, who has already made great headway at the Fox Interactive Media operations, and is spearheading a global initiative to monetize our valuable print content online. Jon is actively evaluating all of our current digital business models with an eye to creating the kinds of new, innovative approaches that will ensure News Corporation retains its leadership position.

We installed new leadership at MySpace, injecting a renewed energy and focus that I am confident will restore its momentum and profitability.

We restructured our L.A.-based businesses, with Tom Rothman and Jim Gianopulos assuming greater oversight of our creative production divisions and Tony Vinciquerra adding additional responsibility for our cable and broadcast operations. This new leadership team has already distinguished itself in a difficult economic climate.

This is not a time to stand still or allow the difficulties we’re all facing to overwhelm us. We will continue to invest smartly in our businesses, better rationalize cost structures, grow our market share and emerge bolder, better aligned and more competitive than ever.

I am confident that the right leadership team is now in place to steer us through these difficult times.

Thank you all for your efforts.

Rupert Murdoch