Acquisitions, Disposals and Other Transactions (Tables)

12 Months Ended

Jun. 30, 2020

Business Acquisition [Line Items]

Major Classes of Assets and Liabilities Disposed of

The major classes of assets and liabilities disposed of were as follows:

	As of May 5, 2020
	(in millions)
Receivables, net	$	214
Other current assets	26
Intangible assets, net	225
Other non-current assets	29
Impairment charge on disposal group (a)	(175)
Total assets	$	319
Accounts payable	$	33
Accrued expenses	65
Deferred revenue	51
Other current liabilities	46
Other non-current liabilities	7
Total liabilities	$	202

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(a)See Note 8—Goodwill and Other Intangible Assets.

New Foxtel

Business Acquisition [Line Items]

Schedule of Total Aggregate Purchase Price Transaction Value/ Fair Value of Acquisition

The total aggregate purchase price associated with the Transaction at the completion date is set forth below (in millions):

Consideration transferred(a)	$	331
Fair value of News Corp previously held equity interest in Foxtel	631
Fair value of noncontrolling interest(b)	578
Fair value of net assets	$	1,540

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(a)Primarily represents the fair value of 35% of FOX SPORTS Australia exchanged as consideration in the Transaction and has been included in noncontrolling interest.

(b)Primarily represents the fair value of 35% of Foxtel, which includes the impact of certain market participant synergies.

Schedule of Fair Value of Assets Acquired and Liabilities Assumed

Under the acquisition method of accounting, the aggregate purchase price, based on a valuation of 100% of Foxtel, was allocated to net tangible and intangible assets based upon their fair value as of the date of completion of the Transaction. The excess of the aggregate purchase price over the fair value of the net tangible and intangible assets acquired was recorded as goodwill. The allocation is as follows (in millions):

Assets acquired:
Cash	$	78
Current assets	492
Property, plant and equipment	967
Intangible assets	861
Goodwill	1,559
Other non-current assets	268
Total assets acquired	$	4,225
Liabilities assumed:
Current liabilities	$	611
Long-term borrowings	1,751
Other non-current liabilities	323
Total liabilities assumed	2,685
Net assets acquired	$	1,540