SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
| x | Annual Report Pursuant to Section 15(d) of The Securities Exchange Act of 1934 |
For the Fiscal Year ended December 31, 2005
OR
| ¨ | Transition Report Pursuant to Section 15(d) of The Securities Exchange Act of 1934 |
Commission file number 333-51434
FOX INVESTMENT PLAN
2121 Avenue of the Stars, Suite 647
Los Angeles, CA 90067
(Full title of the plan and the address of the plan,
if different from that of the issuer named below)
NEWS CORPORATION
1211 Avenue of the Americas
New York, NY 10036
(Name of issuer of the securities held pursuant to the plan
and the address of its principal executive office)
FINANCIAL STATEMENTS
AND SUPPLEMENTAL SCHEDULE
Fox Investment Plan
Year Ended December 31, 2005
Financial Statements and Supplemental Schedule
Year Ended December 31, 2005
Contents
| 1 | ||
| Financial Statements |
||
| 2 | ||
| 3 | ||
| 4 | ||
| Supplemental Schedule |
||
| Schedule H, Part IV, Line 4(i) – Schedule of Assets (Held at End of Year) |
13 | |
| 18 | ||
| 19 | ||
| Consent of Independent Registered Public Accounting Firm |
||
Report of Independent Registered Public Accounting Firm
The Retirement Board of
Fox Entertainment Group, Inc.
We have audited the accompanying statements of net assets available for benefits of Fox Investment Plan as of December 31, 2005 and 2004, and the related statement of changes in net assets available for benefits for the year ended December 31, 2005. These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with auditing standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. We were not engaged to perform an audit of the Plan’s internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of the Plan at December 31, 2005 and 2004, and the changes in its net assets available for benefits for the year ended December 31, 2005, in conformity with U.S. generally accepted accounting principles.
Our audits were performed for the purpose of forming an opinion on the financial statements taken as a whole. The accompanying supplemental schedule of assets (held at end of year) as of December 31, 2005, is presented for purposes of additional analysis and is not a required part of the financial statements but is supplementary information required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. This supplemental schedule is the responsibility of the Plan’s management. The supplemental schedule has been subjected to the auditing procedures applied in our audits of the financial statements and, in our opinion, is fairly stated in all material respects in relation to the financial statements taken as a whole.
/s/ Ernst & Young LLP
Los Angeles, California
June 19, 2006
1
Statements of Net Assets Available for Benefits
| December 31 | ||||||
| 2005 | 2004 | |||||
| Assets |
||||||
| Cash |
$ | — | $ | 51,470 | ||
| Investments: |
||||||
| Investments, at fair value |
528,120,797 | 461,308,996 | ||||
| Investments, at contract value |
71,721,505 | 63,345,206 | ||||
| Total investments |
599,842,302 | 524,654,202 | ||||
| Receivables: |
||||||
| Employer contributions |
388,336 | 327,531 | ||||
| Participant contributions |
1,076,239 | 901,273 | ||||
| Interest and other |
18,613 | 33,229 | ||||
| Total receivables |
1,483,188 | 1,262,033 | ||||
| Total assets |
601,325,490 | 525,967,705 | ||||
| Liabilities |
||||||
| Due to broker for securities purchased |
75,624 | 72,082 | ||||
| Other liabilities |
126 | 252 | ||||
| Total liabilities |
75,750 | 72,334 | ||||
| Net assets available for benefits |
$ | 601,249,740 | $ | 525,895,371 | ||
See accompanying notes.
2
Statement of Changes in Net Assets Available for Benefits
Year Ended December 31, 2005
| Additions: |
|||
| Contributions: |
|||
| Employer, net of forfeitures |
$ | 18,067,471 | |
| Participant |
50,852,872 | ||
| Rollover |
4,012,298 | ||
| Total contributions |
72,932,641 | ||
| Transfer from other plan |
90,002 | ||
| Interest, dividends and other |
22,786,961 | ||
| Net appreciation in fair value of investments |
11,078,701 | ||
| Total additions |
106,888,305 | ||
| Deductions: |
|||
| Benefits paid to participants |
31,408,407 | ||
| Transfers to other plan |
123,829 | ||
| Administrative and other expenses |
1,700 | ||
| Total deductions |
31,533,936 | ||
| Net increase |
75,354,369 | ||
| Net assets available for benefits at beginning of year |
525,895,371 | ||
| Net assets available for benefits at end of year |
$ | 601,249,740 | |
See accompanying notes.
3
Notes to Financial Statements
December 31, 2005
1. Description of the Plan
The following description of the Fox Investment Plan (the Plan) provides only general information. Participants should refer to the Plan document and related amendments for more complete information.
General
The Plan is a defined contribution plan sponsored by Fox Entertainment Group, Inc. (the Plan Sponsor and the Company). Its purpose is to assist employees in establishing a regular savings and investment program to provide additional financial security for their retirement. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (ERISA). The Plan was adopted effective June 1, 1984. Effective January 1, 1998, the Plan was restated, and has since been amended, to change the name of the Plan Sponsor to Fox Entertainment Group, Inc., to incorporate various optional amendments, and to comply with legislative required amendments.
Eligibility
The Plan is a defined contribution plan available to certain nonunion employees of the Company to which the Plan has been extended. Currently, union employees under certain collective bargaining agreements are also eligible to participate. An eligible employee can enroll in the Plan on the first day of the payroll cycle immediately following commencement of employment or the first day of any payroll cycle thereafter.
Contributions
The following types of contributions are allowable under the terms of the Plan document:
Participant Contributions – Participants can voluntarily contribute on a before-tax and/or after-tax basis, as defined in the Plan document, subject to certain limitations under the Internal Revenue Code (the Code). Participants who have reached age 50 before the end of the Plan year are eligible to make catch-up contributions which are also subject to certain limitations of the Code.
Employer Contributions – The Company shall contribute for each participant each pay period an amount equal to 50% of the first 6% of the participant’s contributions, not to exceed $10,000 in any Plan year.
4
Fox Investment Plan
Notes to Financial Statements (continued)
1. Description of the Plan (continued)
Rollover Contributions – Amounts distributed to participants from other tax-qualified plans and/or individual retirement accounts may be contributed to the Plan.
The total amount contributed to a participant’s account (excluding rollover contributions) for the year ended December 31, 2005 may not exceed the lesser of (a) $42,000, or (b) 100% of the participant’s includable compensation, as defined by the Plan document and the Code.
Vesting
Participants are immediately 100% vested in their before-tax and after-tax contributions and rollover contributions. Effective January 1, 2004, the Plan was amended to allow participants to vest in the employer’s contributions account based on the participant’s years of vesting service, as follows:
| Years of Service |
Vested Percentage |
||
| Less than 1 |
0 | % | |
| 1 but less than 2 |
20 | % | |
| 2 but less than 3 |
40 | % | |
| 3 but less than 4 |
60 | % | |
| 4 but less than 5 |
80 | % | |
| 5 or more |
100 | % |
For those participants hired prior to January 1, 2004, the prior vesting schedule was retained, and is as follows:
| Years of Service |
Vested Percentage |
||
| Less than 1 |
0 | % | |
| 1 but less than 2 |
50 | % | |
| 2 but less than 3 |
75 | % | |
| 3 or more |
100 | % |
5
Fox Investment Plan
Notes to Financial Statements (continued)
1. Description of the Plan (continued)
A participant becomes 100% vested in the employer’s contribution account at the earliest of the following dates:
| • | Completion of five years of vesting service (three years of vesting service for participants hired prior to January 1, 2004) |
| • | Death |
| • | Termination of employment due to total and permanent disability |
| • | Retirement at age 65 |
| • | Termination of the Plan |
Forfeitures
If a participant elects a distribution of his/her vested account balance upon termination of employment, the nonvested portion of his/her employer contribution account is forfeited. If a participant defers distribution of his/her account balance, the participant’s employer contribution account is forfeited after a consecutive 60-month period has elapsed after an employee’s termination date. In accordance with the Plan document, such forfeitures are used to reduce future employer matching contributions. For the year ended December 31, 2005, forfeitures of approximately $300,000 were used to reduce the employer matching contributions.
Forfeited balances of approximately $97,000 and $89,000 were available to reduce future contributions as of December 31, 2005 and 2004, respectively.
Investment Options
The plan administrator intends the Plan to constitute a Plan described in section 404(c) of the Employee Retirement Income Securities Act of 1974 (ERISA). Upon enrollment in the Plan, a participant may direct employee and employer contributions in 1% increments among various investment options outlined in the Summary Plan Description. Participants may direct their investment balances among these various investment options at anytime, subject to trading restrictions imposed by the mutual fund companies.
During 2004, News Corporation reincorporated in the United States (the Reorganization). Under the terms of the Reorganization, each News Corporation ADS was replaced by two shares of News Corporation’s Class B (Voting) Common Stock.
6
Fox Investment Plan
Notes to Financial Statements (continued)
1. Description of the Plan (continued)
Participant Accounts
Each participant’s account is credited with the participant’s contribution and allocation of the Company’s contribution, and debited for any distributions. Investment fund gains, losses, and expenses are allocated based on the participant’s account balances in each fund.
Participants’ Loans
Participants may borrow from the Plan, subject to a minimum loan of $1,000 and a maximum loan of $50,000 or 50% of the participant’s vested account balance. The loans are payable over a period of one to five years, or if the proceeds are used for the purchase of a participant’s principal residence, the loans are payable over a period not to exceed 15 years. The loans bear interest at the prime rate plus 1%. The loans are secured by the pledge of the participant’s interest in the Plan. Participants may either pay off outstanding loan balances when they leave the Company or continue to make loan repayments after termination. The Trustee has established a loan fund for recording loan activities.
Payment of Benefits
Benefits to participants or beneficiaries are payable in lump sums equal to the value of the participants’ vested accounts as of the date of distribution.
2. Summary of Accounting Policies
Administrative Expenses
The Company may, at its discretion, elect to pay administrative expenses of the Plan. Administrative expenses not paid by the Company are paid from the assets of the Plan. During the year ended December 31, 2005, approximately $1,700 of administrative expenses were paid from the accounts of the affected participants.
Basis of Accounting
The accompanying financial statements of the Plan have been prepared under the accrual basis of accounting.
7
Fox Investment Plan
Notes to Financial Statements (continued)
2. Summary of Accounting Policies (continued)
Use of Estimates
The preparation of the Plan’s financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and changes therein, and disclosure of contingent assets and liabilities. Actual results could differ from those estimates.
Risks and Uncertainties
The Plan’s exposure to credit loss in the event of nonperformance of investments is limited to the carrying value of such instruments. The Plan’s concentration of credit risk and market risk is dictated by the Plan’s provisions as well as those of ERISA and the participants’ investment preference.
The Plan provides for various investment options in mutual funds, common stock, guaranteed investment contracts (GICs) and synthetic GICs. Investment securities are exposed to various risks such as interest rate, market and credit. Due to the level of risk associated with certain investment securities and the level of uncertainty related to changes in the value of investment securities, it is at least reasonably possible that changes in risk in the near term could materially affect participants’ account balances and the amounts reported in the financial statements.
Investment Valuation and Income Recognition
The Plan’s investments are stated at fair value, except for its GICs, which are valued at contract value (see Note 4). Mutual funds, government and corporate securities, and common stock investments are stated at quoted market prices. The participant loans are stated at face value, which approximates fair value.
Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend dates.
Payment of Benefits
Benefits are recorded when paid.
8
Fox Investment Plan
Notes to Financial Statements (continued)
2. Summary of Accounting Policies (continued)
Net Appreciation (Depreciation) in Fair Value of Investments
Realized and unrealized appreciation (depreciation) in the fair value of investments is based on the difference between the fair value of the assets at the beginning of the year, or at the time of purchase for assets purchased during the year, and the related fair value on the day investments are sold with respect to realized appreciation (depreciation), or on the last day of the year for unrealized appreciation (depreciation).
All realized and unrealized appreciation (depreciation) in the value of investments is shown in the accompanying Statement of Changes in Net Assets Available for Benefits as net appreciation in fair value of investments.
3. Investments
The following presents investments that represent 5% or more of the Plan’s net assets.
| December 31 | ||||||||
| 2005 | 2004 | |||||||
| Investments at fair value: |
||||||||
| News Corp Class B Common Stock |
$ | 27,069,101 | * | $ | 30,166,368 | |||
| Fidelity Puritan Fund |
123,209,092 | 116,663,503 | ||||||
| Fidelity Magellan Fund |
106,936,084 | 104,846,852 | ||||||
| Mairs & Power Growth Fund |
59,114,951 | 48,316,864 | ||||||
| American Funds EuroPacific Growth R4 |
68,417,742 | 47,744,253 | ||||||
| Fidelity Spartan U.S. Equity Index Fund |
36,649,047 | 32,451,265 | ||||||
| PIMCO Total Return Fund |
32,269,520 | 28,367,491 | ||||||
| Fidelity Mid-Cap Stock Fund |
31,541,361 | 21,359,666 | * | |||||
| * | Amount represents less than 5% of the Plan’s net assets at year-end. |
During the year ended December 31, 2005, the Plan’s investments (including gains and losses on investments bought and sold, as well as held during the year) appreciated (depreciated) in value as follows:
| Mutual funds |
$ | 14,877,955 | ||
| News Corp common stock |
(3,799,254 | ) | ||
| $ | 11,078,701 | |||
9
Fox Investment Plan
Notes to Financial Statements (continued)
4. Investment Contracts with Insurance Companies
The Standish Mellon Income Fund includes deposit GICs, synthetic GICs, and bank investment contracts. In accordance with Statement of Position 94-4 of the American Institute of Certified Public Accountants, fully benefit-responsive GICs and synthetic GICs are presented at their contract value. Contract value represents contributions made under the contract, plus earnings, less withdrawals and administrative expenses and excludes the short-term investment fund.
GICs provide a fixed crediting interest rate and a financially responsible entity guarantees liquidity at contract value prior to maturity for any and all participant-initiated benefit withdrawals, loans, or transfers arising under the terms of the Plan, which allows access for all participants.
Synthetic GICs operate similarly to a separate account guaranteed investment contract, except that the underlying assets are placed in a trust with ownership by the Plan rather than a separate account of the issuer, and a financially responsible third party issues a wrapper contract that provides that participants can, and must, execute transactions at contract value.
Inasmuch as trust assets are owned by the Plan, the wrapper contract and the assets in trust should be separately valued and disclosed. The wrapper contract would be valued at the difference between the fair value of the trust assets and the contract value attributable by the wrapper to such assets. When considered together, the trust assets and the wrapper contract should be reported at the wrapper contract value because participants are guaranteed return of principal and accrued interest.
Contract values are not materially different from the fair values of the contracts as calculated per Statement of Financial Accounting Standards No. 107, as shown below as of December 31, 2005 and 2004:
| 2005 | 2004 | |||||||
| Average yield on investment contracts |
4.41 | % | 4.25 | % | ||||
| Crediting interest rate |
4.33 | % | 4.28 | % | ||||
| Contract values of GICs |
$ | 11,067,497 | $ | 14,841,941 | ||||
| Fair value of GICs |
$ | 11,022,041 | $ | 15,039,839 | ||||
| Contract values of synthetic GICs |
$ | 60,654,008 | $ | 48,503,265 | ||||
| Fair value of synthetic GICs |
$ | 58,911,752 | $ | 47,949,386 | ||||
10
Fox Investment Plan
Notes to Financial Statements (continued)
4. Investment Contracts with Insurance Companies (continued)
There are various bases and frequencies of determining the crediting interest rates for unallocated investment contracts. Crediting interest rates for certain synthetic GICs are based on the cash flow and performance of the underlying securities. The crediting interest rates are reviewed on either a quarterly or an annual basis and reset if the change is significant. All other contracts have fixed rates for the life of the contract. Certain employer-initiated events are not eligible for book value disbursements from fully benefit-responsive contracts. Such events may cause liquidation of all or a portion of a contract with a market value adjustment.
The fair values of the assets underlying the synthetic GICs approximate the fair value of contracts. The fair values of the assets underlying the synthetic GICs as of December 31, 2005 and 2004, are as follows:
| 2005 | 2004 | |||||
| U.S. government securities |
$ | 45,661,856 | $ | 36,469,002 | ||
| Corporate obligations |
13,249,896 | 11,480,384 | ||||
| Fair value of investments |
58,911,752 | 47,949,386 | ||||
| Difference between fair value and contract value of synthetic GICs |
1,742,256 | 553,879 | ||||
| Contract value of synthetic GICs |
$ | 60,654,008 | $ | 48,503,265 | ||
5. Related-Party Transactions
The Plan engages in certain transactions involving the Trustee and News Corporation, the parent company, which are parties-in-interest as defined by ERISA. These transactions involve the purchase and sale of News Corporation’s common stock and investing Plan monies in money market and mutual funds managed by Fidelity Management Trust Company (Fidelity) the trustee of the Plan, or its related affiliates. Fees paid by the Plan Sponsor to Fidelity for the year ended December 31, 2005, were not significant. Investments managed by Fidelity amounted to $322,059,186 and $291,512,970 as of December 31, 2005 and 2004, respectively.
6. Income Tax Status
The Plan has received a determination letter from the Internal Revenue Service dated March 24, 2000, stating that the Plan is qualified under Section 401(a) of the Code and, therefore, the related trust is exempt from taxation. Subsequent to this determination by the Internal Revenue Service, the Plan was amended. Once qualified, the Plan is required to operate in conformity
11
Fox Investment Plan
Notes to Financial Statements (continued)
6. Income Tax Status (continued)
with the Code to maintain its qualification. The plan administrator believes the Plan is being operated in compliance with the applicable requirements of the Code and, therefore, believes that the Plan, as amended, is qualified and the related trust is tax exempt.
7. Plan Termination
Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate or amend the Plan subject to the provisions of ERISA. Upon termination of the Plan or upon the complete discontinuance of contributions under the Plan, all participants shall become 100% vested in their accounts, after payment of any expenses properly chargeable thereto.
8. Reconciliation of Financial Statement to Form 5500
The following is a reconciliation of investments from the financial statements as of December 31, 2005 and 2004, to investments per the Form 5500:
| 2005 | 2004 | |||||
| Investments per the financial statements |
$ | 599,842,302 | $ | 524,654,202 | ||
| Add: Difference between fair value and contract value of GICs |
— | 197,898 | ||||
| Investments per the Form 5500 |
$ | 599,842,302 | $ | 524,852,100 | ||
In prior year, investments in GICs were reflected on the financial statements at contract value since the contracts are benefit responsive; however, the GIC investments were reflected at fair value on the Form 5500 and the accompanying supplemental schedule of assets (held at end of year). Current year’s presentation of GICs on the Form 5500 and the accompanying supplemental schedule of assets (held at end of year) are reported at contract value as permitted by the Form 5500 instructions for benefit responsive GICs.
12
Supplemental Schedule
EIN: 20-2141557 Plan Number: 003
Schedule H, Part IV, Line 4(i) – Schedule of Assets
(Held at End of Year)
December 31, 2005
| Identity of Issue |
Description of Investment |
Current Value | |||
| Common Stock |
|||||
| *News Corp Common Stock |
|||||
| News Corp Class B |
Common Stock, 1,629,687 shares |
$ | 27,069,101 | ||
| Interest-bearing cash |
553,777 | ||||
| 27,622,878 | |||||
| Money Market |
|||||
| *Fidelity Management Trust Company |
Short-term investment fund; 4.18% |
3,283,260 | |||
| Common Collective Trust |
|||||
| Goode Stable Value Trust Fund |
Short-term investment fund; 4.53% |
2,280,311 | |||
| Guaranteed Investment Contracts (GICs) |
|||||
| **John Hancock |
GIC; 5.67% yield; 7/16/07 |
1,869,961 | |||
| **Allstate |
GIC; 5.51% yield; 9/17/07 |
1,851,037 | |||
| **Security Life of Denver |
GIC; 5.96% yield; 2/15/06 |
641,726 | |||
| **GE Life and Annuity |
GIC; 4.92% yield; 11/15/07 |
1,183,753 | |||
| **New York Life Insurance Company |
GIC; 4.05% yield; 10/15/07 |
1,141,783 | |||
| **Ohio National Life Insurance Company |
GIC; 3.95% yield; 3/14/08 |
745,577 | |||
| **Principal Life Insurance Company |
GIC: 3.67% yield; 10/15/07 |
774,711 | |||
| **New York Life Insurance Company |
GIC; 5.78% yield; 6/15/06 |
335,180 | |||
| **Principal Life Insurance Company |
GIC; 2.76% yield; 7/15/08 |
1,072,313 | |||
| **Security Life of Denver |
Variable GIC; 3.87% yield; 4/06/06 |
1,011,482 | |||
| **Monumental Life Insurance Company |
GIC; 4.20% yield; 3/15/06 |
439,974 | |||
| 11,067,497 | |||||
13
Fox Investment Plan
EIN: 20-2141557 Plan Number: 003
Schedule H, Part IV, Line 4(i) – Schedule of Assets
(Held at End of Year) (continued)
December 31, 2005
| Identity of Issue |
Description of Investment |
Current Value | |||
| Synthetic GICs |
|||||
| Rabobank - FOX060201 |
|||||
| Barclay’s Global Investors Collective Fund |
Variable maturities; 4.46% |
$ | 14,493,372 | ||
| Wrapper |
237,848 | ||||
| 14,731,220 | |||||
| Monumental Life Insurance Co. |
|||||
| Barclay’s Global Investors Collective Fund |
Variable maturities; 4.53% yield |
17,616,630 | |||
| Wrapper |
222,231 | ||||
| 17,838,861 | |||||
| UBS AG – 2656 |
Maturity 1/18/2011, 4.16% yield |
||||
| DLJ Coml Mtg |
Series 99-CG1; Class A11; 1/10/09 |
||||
| Federal Home Loan Corp. |
Series 03-92; Class NM; 10/25/08 |
||||
| Commercial Mortgage Backed Sec |
Series 01-IQA; Class A3; 1/18/11 |
||||
| Commercial Mortgage Backed Sec |
Series 99-C1; Class A2; 4/15/09 |
||||
| Commercial Mortgage Backed Sec |
Series 98-D7; Class A1B; 9/15/08 |
||||
| Commercial Mortgage Backed Sec |
Series 98-D7; Class A1B; 9/15/08 |
||||
| Commercial Mortgage Backed Sec |
Series 01-CF2; Class A4, 1/15/11 |
||||
| Commercial Mortgage Backed Sec |
Series 05-2; Class A3, 7/10/16 |
8,071,272 | |||
| Wrapper |
108,792 | ||||
| 8,180,064 | |||||
14
Fox Investment Plan
EIN: 20-2141557 Plan Number: 003
Schedule H, Part IV, Line 4(i) – Schedule of Assets
(Held at End of Year) (continued)
December 31, 2005
| Identity of Issue |
Description of Investment |
Current Value | |||
| Synthetic GICs (continued) |
|||||
| Bank of America N.A. 03 – 049 |
Maturity 4/15/2011; 3.96% |
||||
| Citibank Credit Card |
Series 03-A6; Class A6; 5/15/08; |
||||
| Federal Home Loan Corp. |
Series 2515; Class UB; 7/15/06; |
||||
| MBNA Master Credit Card |
Series 03-A7; Class A7; 6/15/08; |
||||
| Federal Home Loan Corp. |
Series 2644; Class AW; 7/15/10; |
||||
| Federal Home Loan Corp. |
Series 2715; Class ND; 12/15/10; |
||||
| Federal Home Loan Corp. |
Series 2634; Class ML; 8/15/10; |
||||
| Federal Home Loan Corp. |
Series 2763; Class PC; 4/15/11; |
$ | 5,610,764 | ||
| Wrapper |
1,004,601 | ||||
| 6,615,365 | |||||
| IXIS Financial Product |
|||||
| WR-1816-01 |
Maturity 5/16/2011 |
||||
| Federal Home Loan Corp. |
Series 2624; Class OD; 6/15/10; |
||||
| Rate Reduction Bonds |
Series 04-1; Class A1; 11/15/09; |
||||
| Federal Home Loan Corp. |
Series 2785; Class NA; 5/15/11; |
||||
| Federal Home Loan Corp. |
Series 2640; Class TL; 11/15/10; |
||||
| Commercial Mortgage Backed Sec |
Series 2005-CIPI; Class A, 8/12/10; |
5,178,624 | |||
| Wrapper |
53,096 | ||||
| 5,231,720 | |||||
15
Fox Investment Plan
EIN: 20-2141557 Plan Number: 003
Schedule H, Part IV, Line 4(i) – Schedule of Assets
(Held at End of Year) (continued)
December 31, 2005
| Identity of Issue |
Description of Investment |
Current Value | |||
| AIG Financial Products - 543451 |
Maturity 11/15/2012 |
||||
| Citibank Credit Card |
Series 03-A3; Class A3; 3/10/08; |
||||
| Federal Home Loan Corp. |
Series 2857; Class BG; 10/15/11; |
||||
| Federal Home Loan Corp. |
Series 2900; Class PB; 11/15/12; |
||||
| Federal Home Loan Corp. |
Series 03-122; Class OJ, 10/25/10 |
||||
| Federal Home Loan Corp. |
Series 2875; Class PY, 11/15/11 |
$ | 5,669,187 | ||
| Wrapper |
82,807 | ||||
| 5,751,994 | |||||
| Monumental Life Insurance Co. |
|||||
| (Aegon) – BDA00304TR6 (7) |
Maturity 6/15/2010; 4.18% |
||||
| Commercial Mortgage Backed Security |
Series 05-LDP2, Class A2; 6/15/10 |
996,371 | |||
| Wrapper |
24,475 | ||||
| 1,020,846 | |||||
| IXIS Financial Product – WR 1816-03 |
Maturity 5/17/2010; 4.44% |
||||
| Federal Home Loan Mortgage Corp. |
Series 2415; Class CD; 6/15/07; |
||||
| Commercial Mortgage Backed Security |
Series 05-C3, Class A2; 5/15/16 |
1,275,532 | |||
| Wrapper |
8,406 | ||||
| 1,283,938 | |||||
| Total Fair Value of Synthetic GICs |
58,911,752 | ||||
| Total Fair Value of Wrappers |
1,742,256 | ||||
| 60,654,008 | |||||
16
Fox Investment Plan
EIN: 20-2141557 Plan Number: 003
Schedule H, Part IV, Line 4(i) – Schedule of Assets
(Held at End of Year) (continued)
December 31, 2005
| Identity of Issue |
Description of Investment |
Current Value | |||
| Mutual Funds |
|||||
| Mairs & Power |
Growth Fund |
$ | 59,114,951 | ||
| American Funds |
EuroPacific Growth R4 |
68,417,742 | |||
| PIMCO |
Total Return Fund |
32,269,520 | |||
| *Fidelity |
Puritan Fund |
123,209,092 | |||
| *Fidelity |
Magellan Fund |
106,936,084 | |||
| *Fidelity |
Spartan U.S. Equity Index Fund |
36,649,047 | |||
| *Fidelity |
Mid-Cap Stock Fund |
31,541,361 | |||
| *Fidelity |
Equity Income Fund |
16,477,362 | |||
| *Fidelity |
Freedom 2010 |
420,967 | |||
| *Fidelity |
Freedom 2020 |
817,312 | |||
| *Fidelity |
Freedom 2030 |
1,113,263 | |||
| *Fidelity |
Freedom 2040 |
1,281,612 | |||
| *Fidelity |
Freedom 2015 |
1,192,681 | |||
| *Fidelity |
Freedom 2025 |
1,108,486 | |||
| *Fidelity |
Freedom 2035 |
1,311,919 | |||
| 481,861,399 | |||||
| *Participant loans |
Interest rates ranging from 5.00% to 11.00% and maturities through 2016 |
13,072,949 | |||
| Total investments |
$ | 599,842,302 | |||
| * | Represents a party-in-interest as defined by ERISA. |
| ** | Benefit responsive GICs are reported at contract value. |
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The Plan. Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.
| FOX INVESTMENT PLAN | ||
| By: | /s/ Lynn L. Franzoi | |
| Lynn L. Franzoi | ||
| Senior Vice President, Benefits, Fox Entertainment Group, Inc. | ||
Date: June 27, 2006
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| Exhibit No. | Description | |
| 23.1 | Consent of Ernst & Young LLP |
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