News Corporation Gives $500,000 to CUNY Graduate School of Journalism

The City University of New York Graduate School of Journalism announced today that News Corporation has donated $500,000 to the school, payable over a five-year period.

The money will be used for scholarships for deserving students, Stephen Shepard, dean of the CUNY Graduate School of Journalism said. Half of the money will be placed in an endowment account and the other half will be available to spend each year for financial aid to cover tuition and summer internships.

“I am especially pleased that News Corporation will also provide some students with summer internships at the New York Post, Channel 5, and the Fox News Channel,” Mr. Shepard said. Summer internships are an integral part of the curriculum for the Master of Arts degree granted by the new school of journalism, which enrolled its first class of 50 students last September.

In addition to providing financial aid and offering summer internships, the company will also publish student-written stories in some of its community newspapers. “We’re grateful that News Corporation will be supporting our students in so many different ways. All these things will enhance the educational experience of our students,” said Mr. Shepard.

News Corporation’s Chairman and Chief Executive Officer, Rupert Murdoch, said he was honored to help the CUNY journalism school provide not just funding for scholarships, but also real-world experience through the internship program.

“Now more than ever we need curious, well-trained journalists to make sense of the rapid technological and social changes around us,” Mr. Murdoch said. “It is my hope that CUNY’s school will encourage a diverse student body that will bring new ideas and approaches to the age-old art of journalism.”

The CUNY Graduate School of Journalism was launched in fall 2006 as the first graduate journalism school at a publicly supported university in the Northeast. The relatively low cost for tuition and fees for three semesters opens up new opportunities for a diverse pool of students. The three-semester M.A. program offers an innovative curriculum that combines the craft and content of good journalistic practice while exposing students to all different forms of media that will prepare them for a workplace increasingly characterized by the convergence of media formats

News Corporation (NYSE: NWS, NWS.A; ASX: NWS, NWSLV) had total assets as of December 31, 2006 of approximately US$59 billion and total annual revenues of approximately US$27 billion. News Corporation is a diversified entertainment company with operations in eight industry segments: filmed entertainment; television; cable network programming; direct broadcast satellite television; magazines and inserts; newspapers; book publishing; and other. The activities of News Corporation are conducted principally in the United States, Continental Europe, the United Kingdom, Australia, Asia and the Pacific Basin.