Equity

9 Months Ended

Mar. 31, 2019

Stockholders' Equity Note [Abstract]

Equity

NOTE 8. EQUITY

The following tables summarize changes in equity for the three and nine months ended March 31, 2019 and 2018:

	For the three months ended March 31, 2019
															Accumulated
	Class A				Class B				Additional						Other			Total News
	Common Stock				Common Stock				Paid-in			Accumulated			Comprehensive			Corporation			Noncontrolling			Total
	Shares		Amount		Shares		Amount		Capital			Deficit			Loss			Equity			Interests			Equity
	(in millions)
Balance, December 31, 2018		385	$	4		200	$	2	$	12,271		$	(1,937	)	$	(1,076	)	$	9,264		$	1,170		$	10,434
Net income		—		—		—		—		—			10			—			10			13			23
Other comprehensive income		—		—		—		—		—			—			57			57			10			67
Dividends		—		—		—		—		(58	)		—			—			(58	)		(20	)		(78	)
Other		—		—		—		—		16			—			—			16			(4	)		12
Balance, March 31, 2019		385	$	4		200	$	2	$	12,229		$	(1,927	)	$	(1,019	)	$	9,289		$	1,169		$	10,458

	For the three months ended March 31, 2018
															Accumulated
	Class A				Class B				Additional						Other			Total News
	Common Stock				Common Stock				Paid-in			Accumulated			Comprehensive			Corporation			Noncontrolling			Total
	Shares		Amount		Shares		Amount		Capital			Deficit			Loss			Equity			Interests			Equity
	(in millions)
Balance, December 31, 2017		383	$	4		200	$	2	$	12,350		$	(664	)	$	(832	)	$	10,860		$	298		$	11,158
Net (loss) income		—		—		—		—		—			(1,128	)		—			(1,128	)		18			(1,110	)
Other comprehensive income (loss)		—		—		—		—		—			—			3			3			(2	)		1
Dividends		—		—		—		—		(59	)		—			—			(59	)		(19	)		(78	)
Other		—		—		—		—		19			—			—			19			1			20
Balance, March 31, 2018		383	$	4		200	$	2	$	12,310		$	(1,792	)	$	(829	)	$	9,695		$	296		$	9,991

	For the nine months ended March 31, 2019
	Class A				Class B				Additional						Accumulated Other			Total News
	Common Stock				Common Stock				Paid-in			Accumulated			Comprehensive			Corporation			Noncontrolling			Total
	Shares		Amount		Shares		Amount		Capital			Deficit			Loss			Equity			Interests			Equity
	(in millions)
Balance, June 30, 2018		383	$	4		200	$	2	$	12,322		$	(2,163	)	$	(874	)	$	9,291		$	1,186		$	10,477
Cumulative impact from adoption of new accounting standards		—		—		—		—		—			32			(22	)		10			10			20
Net income		—		—		—		—		—			206			—			206			64			270
Other comprehensive loss		—		—		—		—		—			—			(124	)		(124	)		(46	)		(170	)
Dividends		—		—		—		—		(117	)		—			—			(117	)		(43	)		(160	)
Other		2		—		—		—		24			(2	)		1			23			(2	)		21
Balance, March 31, 2019		385	$	4		200	$	2	$	12,229		$	(1,927	)	$	(1,019	)	$	9,289		$	1,169		$	10,458

	For the nine months ended March 31, 2018
															Accumulated
	Class A				Class B				Additional						Other			Total News
	Common Stock				Common Stock				Paid-in			Accumulated			Comprehensive			Corporation			Noncontrolling			Total
	Shares		Amount		Shares		Amount		Capital			Deficit			Loss			Equity			Interests			Equity
	(in millions)
Balance, June 30, 2017		382	$	4		200	$	2	$	12,395		$	(648	)	$	(964	)	$	10,789		$	284		$	11,073
Net (loss) income		—		—		—		—		—			(1,143	)		—			(1,143	)		54			(1,089	)
Other comprehensive income		—		—		—		—		—			—			135			135			1			136
Dividends		—		—		—		—		(118	)		—			—			(118	)		(40	)		(158	)
Other		1		—		—		—		33			(1	)		—			32			(3	)		29
Balance, March 31, 2018		383	$	4		200	$	2	$	12,310		$	(1,792	)	$	(829	)	$	9,695		$	296		$	9,991

Stock Repurchases

In May 2013, the Company’s Board of Directors (the “Board of Directors”) authorized the Company to repurchase up to an aggregate of $500 million of its Class A Common Stock. No stock repurchases were made during the nine months ended March 31, 2019. Through May 3, 2019, the Company cumulatively repurchased approximately 5.2 million shares of Class A Common Stock for an aggregate cost of approximately $71 million. The remaining authorized amount under the stock repurchase program as of May 3, 2019 was approximately $429 million. All decisions regarding any future stock repurchases are at the sole discretion of a duly appointed committee of the Board of Directors and management. The committee’s decisions regarding future stock repurchases will be evaluated from time to time in light of many factors, including the Company’s financial condition, earnings, capital requirements and debt facility covenants, other contractual restrictions, as well as legal requirements, regulatory constraints, industry practice, market volatility and other factors that the committee may deem relevant. The stock repurchase authorization may be modified, extended, suspended or discontinued at any time by the Board of Directors and the Board of Directors cannot provide any assurances that any additional shares will be repurchased.

Dividends

In February 2019, the Board of Directors declared a semi-annual cash dividend of $0.10 per share for Class A Common Stock and Class B Common Stock. This dividend was paid on April 17, 2019 to stockholders of record at the close of business on March 13, 2019. The timing, declaration, amount and payment of future dividends to stockholders, if any, is within the discretion of the Board of Directors. The Board of Directors’ decisions regarding the payment of future dividends will depend on many factors, including the Company’s financial condition, earnings, capital requirements and debt facility covenants, other contractual restrictions, as well as legal requirements, regulatory constraints, industry practice, market volatility and other factors that the Board of Directors deems relevant.

The following table sets forth the cash dividend declared per share for the three and nine months ended March 31, 2019 and 2018:

	For the three months ended March 31,				For the nine months ended March 31,
	2019		2018		2019		2018
Cash dividend declared per share	$	0.10	$	0.10	$	0.20	$	0.20