Investments

3 Months Ended

Sep. 30, 2024

NOTE 4. INVESTMENTS

The Company’s investments were comprised of the following:


	Ownership Percentage as of September 30, 2024	As of September 30, 2024		As of June 30, 2024
		(in millions)
Equity method investments(a)	various	$	223	$	216
Equity and other securities(b)	various	235		214
Total Investments		$	458	$	430

(a)Equity method investments are primarily comprised of REA Group’s ownership interest in PropertyGuru Group Ltd. (“PropertyGuru”). In August 2024, REA Group announced that PropertyGuru had entered into an agreement to be acquired by a third party, which will result in the divestiture of REA Group’s interest in PropertyGuru upon completion. The transaction is expected to close later in the fiscal year.

(b)Equity and other securities are primarily comprised of Nexxen International, Ltd., certain investments in China, RipJar Ltd., an artificial intelligence-focused data analytics company, and ARN Media Limited, which operates a portfolio of Australian radio media assets.

The Company has equity securities with quoted prices in active markets as well as equity securities without readily determinable fair market values. Equity securities without readily determinable fair market values are valued at cost, less any impairment, plus or minus changes in fair value resulting from observable price changes in orderly transactions for an identical or similar investment of the same issuer. The components comprising total gains and losses on equity securities are set forth below:


	For the three months ended September 30,
		2024		2023
	(in millions)
Total gains (losses) recognized on equity securities		$	10	$	(23)
Less: Net gains (losses) recognized on equity securities sold		—		—
Unrealized gains (losses) recognized on equity securities held at end of period		$	10	$	(23)

Equity Losses of Affiliates

The Company’s share of the losses of its equity affiliates was $3 million and $2 million for the three months ended September 30, 2024 and 2023, respectively.