Earnings Per Share

6 Months Ended

Dec. 31, 2014

Earnings Per Share [Abstract]

Earnings Per Share

NOTE 8. EARNINGS PER SHARE

Basic earnings per share for the Class A Common Stock and Class B Common Stock is calculated by dividing Net income available to News Corporation stockholders by the weighted average number of shares of Class A Common Stock and Class B Common Stock outstanding. Diluted earnings per share for Class A Common Stock and Class B Common Stock is calculated similarly, except that the calculation includes the dilutive effect of the assumed issuance of shares issuable under the Company’s equity-based compensation plans.

	For the three months ended December 31,						For the six months ended December 31,
	2014			2013			2014			2013
	(in millions, except per share amounts)
Net income attributable to News Corporation stockholders	$	143		$	151		$	208		$	178
Redeemable preferred stock dividends(a)		(1	)		(1	)		(1	)		(1	)
Net income available to News Corporation stockholders—basic and diluted	$	142		$	150		$	207		$	177
Weighted-average number of shares of common stock outstanding—basic		580.2			578.9			579.8			578.8
Dilutive effect of equity awards		2.3			0.7			1.4			0.8
Weighted-average number of shares of common stock outstanding—diluted		582.5			579.6			581.2			579.6
Net income per share available to News Corporation stockholders—basic	$	0.24		$	0.26		$	0.36		$	0.31
Net income per share available to News Corporation stockholders—diluted	$	0.24		$	0.26		$	0.36		$	0.31

^(a)  In connection with the Separation, as defined below, Twenty-First Century Fox, Inc. (“21st Century Fox”) sold 4,000 shares of cumulative redeemable preferred stock with a par value of $5,000 per share of a newly formed U.S. subsidiary of the Company. The preferred stock pays dividends at a rate of 9.5% per annum, payable quarterly. The preferred stock is callable by the Company at any time after the fifth year and is puttable at the option of the holder after 10 years.