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21st Century Fox Nominates Jeffrey Ubben for Board of Directors

Executive currently serves as head of investment firm ValueAct Capital

The 21st Century Fox board of directors has nominated Jeffrey W. Ubben for election to the board, the company announced Tuesday.

Ubben is the founder, CEO and chief investment officer of investment firm ValueAct Capital. If Ubben is elected, it would expand the board from 12 to 13 directors. The election will be held at the annual meeting of stockholders to be held in 2015.

Rupert Murdoch and Lachlan Murdoch, executive chairmen of 21st Century Fox, said, “Jeff will bring to our board a great perspective as a global investor and a shared belief in building long-term value for shareholders. Our board and senior management team have developed a highly-valued relationship with Jeff and we are pleased he has accepted the board’s invitation to stand for election.”

“If elected by shareholders, it would be a privilege to serve on the Board of such a well-respected and admired global media organization,” Ubben said. “I look forward to the opportunity to work closely with fellow board members and management to contribute to the long-term success of the company.”

In conjunction with Mr. Ubben’s nomination, 21st Century Fox and ValueAct Capital have entered into an agreement regarding ValueAct Capital’s ongoing ownership of shares in the company. A copy of the agreement will be included as an exhibit to the current report on Form 8-K that 21st Century Fox will file today with the Securities and Exchange Commission.

In addition to his work at ValueAct, Ubben is a director of Willis Group Holdings, a former chairman and director of Martha Stewart Living Omnimedia, Inc., and a former director of Catalina Marketing Corp., as well as Gartner Group, Inc., Mentor Corporation, Misys, Sara Lee Corp. and Valeant Pharmaceuticals International.

In addition, he serves as chairman of the national board of the Posse Foundation, is on the board of trustees of Duke University, and is also on the board of trustees of Northwestern University. He has a B.A. from Duke University and an M.B.A. from the J. L. Kellogg Graduate School of Management at Northwestern University.