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Investments - Schedule of Investments (Detail)
In Millions, unless otherwise specified
Sep. 30, 2014
USD ($)
Jun. 30, 2014
USD ($)
Sep. 30, 2014
Loan Receivable from Foxtel [Member]
USD ($)
Sep. 30, 2014
Loan Receivable from Foxtel [Member]
AUD
Jun. 30, 2014
Loan Receivable from Foxtel [Member]
USD ($)
Sep. 30, 2014
Foxtel [Member]
USD ($)
Jun. 30, 2014
Foxtel [Member]
USD ($)
Sep. 30, 2014
Other Equity Method Investments [Member]
USD ($)
Jun. 30, 2014
Other Equity Method Investments [Member]
USD ($)
Schedule of Investments [Line Items]                  
Equity method investments           $ 1,767 [1] $ 1,869 [1] $ 41 $ 24
Other investments     396 [2] 451 425 [2]        
Available-for-sale securities 153 [3] 151 [3]              
Cost method investments 140 [4] 140 [4]              
Total Investments $ 2,497 $ 2,609              
Equity method investment, ownership percentage           50.00% [1]      
[1] The change in the Foxtel investment for the three months ended September 30, 2014 was primarily due to the impact of foreign currency fluctuations.
[2] In May 2012, Foxtel purchased Austar United Communications Ltd. The transaction was funded by Foxtel bank debt and Foxtel's shareholders made pro rata capital contributions in the form of subordinated shareholder notes based on their respective ownership interests. The Company's share of the subordinated shareholder notes was approximately A$451 million ($396 million and $425 million as of September 30, 2014 and June 30, 2014, respectively). The subordinated shareholder note can be repaid beginning in July 2022 provided that Foxtel's senior debt has been repaid. The subordinated shareholder note has a maturity date of July 15, 2027, with interest of 12% payable on June 30 each year and at maturity. Upon maturity, the principal advanced will be repayable.
[3] In August 2014, REA Group Limited ("REA Group") completed the sale of a minority interest held in marketable securities for total cash consideration of $104 million. As a result of the sale, REA Group recognized a pre-tax gain of $29 million, which was reclassified out of accumulated other comprehensive income and included in Other, net in the Statement of Operations. In July 2014, REA Group purchased a 17.22% interest in iProperty Group Limited (ASX:IPP) ("iProperty") for total cash consideration of approximately $100 million. iProperty has online property advertising operations primarily in Malaysia, Indonesia, Hong Kong, Macau and Singapore. In October 2014, REA Group agreed to sell Squarefoot, its Hong Kong based business, to iProperty in exchange for an additional 2.21% interest in iProperty valued at approximately $13 million. The transaction is expected to be completed in the second quarter of fiscal 2015 and is subject to [customary closing conditions, including iProperty shareholder approval]. Also in October 2014, REA Group purchased an additional 0.5% interest in iProperty for approximately $2 million. Including the transactions noted above, REA Group will hold an approximate 19.9% interest in iProperty, which it expects to account for as an equity method investment.
[4] Cost method investments primarily include the Company's investment in SEEKAsia Limited ("SEEK Asia") and certain investments in China. In February 2014, SEEK Asia, in which the Company owns a 12.1% interest, agreed to purchase the online employment businesses of JobStreet Corporation Berhad ("JobStreet"), which will be combined with JobsDB, Inc., SEEK Asia's existing online employment business. The transaction, which is subject to certain conditions, including regulatory approval and JobStreet shareholder approval, will be funded primarily through additional contributions by SEEK Asia shareholders. The Company's share of the funding contribution is expected to be approximately $60 million and is subject to the closing of the JobStreet acquisition. The Company will continue to hold a 12.1% investment in SEEK Asia following the transaction.