Investments (Tables)

6 Months Ended

Dec. 31, 2020

Schedule of Investments [Abstract]

Schedule of Investments

The Company’s investments were comprised of the following:

	Ownership Percentage as of December 31, 2020	As of December 31, 2020		As of June 30, 2020
		(in millions)
Equity method investments(a)	various	$	116	$	120
Equity securities(b)	various	237		177
Total Investments		$	353	$	297

(a)Equity method investments are primarily comprised of Foxtel’s investment in Nickelodeon Australia Joint Venture and, until December 2020, Elara, which operates PropTiger.com and Housing.com. In December 2020, the Company acquired a controlling interest in Elara and began consolidating its results. Refer to Note 3—Acquisitions for further discussion.

(b)Equity securities are primarily comprised of certain investments in China and the Company’s investments in HT&E Limited, which operates a portfolio of Australian radio and outdoor media assets, and Tremor International Ltd (“Tremor).

Schedule of Total Gains and Losses on Equity Securities

The components comprising total gains and losses on equity securities are set forth below:

	For the three months ended December 31,				For the six months ended December 31,
	2020		2019		2020		2019
	(in millions)				(in millions)
Total gains (losses) recognized on equity securities	$	33	$	(6)	$	42	$	(5)
Less: Net gains recognized on equity securities sold	—		—		—		—
Unrealized gains (losses) recognized on equity securities held at end of period	$	33	$	(6)	$	42	$	(5)