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Borrowings (Tables)
 9 Months Ended
Mar. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Borrowings
The Company’s total borrowings consist of the following:
Interest rate at March 31, 2024Maturity at March 31, 2024As of
March 31, 2024		As of
June 30, 2023
(in millions)
News Corporation
2022 Term loan A(a)
6.909 %Mar 31, 2027$488 $497 
2022 Senior notes5.125 %Feb 15, 2032493 492 
2021 Senior notes3.875 %May 15, 2029990 989 
Foxtel Group(b)
2024 Foxtel credit facility — tranche 1(c)(d)
7.24 %Aug 1, 2026372 — 
2024 Foxtel credit facility — USD portion — tranche 2(e)
8.58 %Aug 1, 202749 — 
2024 Foxtel credit facility — tranche 3(d)
7.39 %Aug 1, 2027203 — 
2017 Working capital facility(c)
7.24 %Aug 1, 2026— — 
Telstra facility12.14 %Dec 22, 202796 100 
2019 Credit facility(f)
— %May 31, 2024— 320 
2019 Term loan facility(f)
— %Nov 22, 2024— 167 
2012 US private placement — USD portion — tranche 3(f)
— %Jul 25, 2024— 149 
REA Group(b)
2024 REA credit facility — tranche 1(g)
5.84 %Sep 15, 2028— — 
2024 REA credit facility — tranche 2(g)
5.54 %Sep 16, 2025130 — 
2024 Subsidiary facility(g)
5.79 %Sep 28, 202554 — 
2022 Credit facility — tranche 1(f)
— %Sep 16, 2024— 211 
2022 Credit facility — tranche 2(f)
— %Sep 16, 2025— — 
Finance Leases
Finance lease liability25 42 
Total borrowings2,900 2,967 
Less: current portion(h)
(56)(27)
Long-term borrowings
$2,844 $2,940 
(a)The Company entered into an interest rate swap derivative to fix the floating rate interest component of its Term A Loans at 2.083%. For the three months ended March 31, 2024 the Company was paying interest at an effective interest rate of 3.583%. See Note 7—Financial Instruments and Fair Value Measurements.
(b)These borrowings were incurred by certain subsidiaries of NXE Australia Pty Limited (the “Foxtel Group” and together with such subsidiaries, the “Foxtel Debt Group”) and REA Group and certain of its subsidiaries (REA Group and certain of its subsidiaries, the “REA Debt Group”), consolidated but non wholly-owned subsidiaries of News Corp, and are only guaranteed by the Foxtel Group and REA Group and their respective subsidiaries, as applicable, and are non-recourse to News Corp.
(c)As of March 31, 2024, the Foxtel Debt Group had total undrawn commitments of A$280 million available under these facilities.
(d)The Company entered into A$610 million of interest rate swap derivatives to fix the floating rate interest components of tranche 1 and tranche 3 of its 2024 Foxtel Credit Facility (described below) at approximately 4.30%. For the three months ended March 31, 2024, the Company was paying interest at an effective interest rate of 7.19% and 7.30% for tranche 1 and tranche 3, respectively. See Note 7—Financial Instruments and Fair Value Measurements.
(e)The Company entered into a cross-currency interest rate swap derivative to fix the floating rate interest component of tranche 2 of its 2024 Foxtel Credit Facility at 4.38%. For the three months ended March 31, 2024, the Company was paying interest at an effective interest rate of 7.64%. See Note 7—Financial Instruments and Fair Value Measurements.
(f)These borrowings were repaid during the nine months ended March 31, 2024 using proceeds from the 2024 Foxtel Credit Facility and 2024 REA Credit Facility (described below), as applicable.
(g)As of March 31, 2024, REA Group had total undrawn commitments of A$400 million available under these facilities.
(h)The Company classifies the current portion of long term debt as non-current liabilities on the Balance Sheets when it has the intent and ability to refinance the obligation on a long-term basis, in accordance with ASC 470-50, Debt. $24 million and $27 million relates to the current portion of finance lease liabilities as of March 31, 2024 and June 30, 2023, respectively, with the remainder as of March 31, 2024 consisting of required principal repayments on the 2022 Term Loan A and 2024 Foxtel Credit Facility — tranches 2 and 3.