EQUITY

6 Months Ended

Dec. 31, 2024

Stockholders' Equity Note [Abstract]

EQUITY

NOTE 7. EQUITY

The following tables summarize changes in equity for the three and six months ended December 31, 2024 and 2023:

	For the three months ended December 31, 2024
	Class A Common Stock			Class B Common Stock			Additional Paid-in Capital		Accumulated Deficit		Accumulated Other Comprehensive Loss		Total News Corp Equity		Non-controlling Interests		Total Equity
	Shares	Amount		Shares	Amount
	(in millions)
Balance, September 30, 2024	379	$	4	190	$	2	$	11,157	$	(1,779)	$	(1,131)	$	8,253	$	913	$	9,166
Net income	—	—		—	—		—		215		—		215		68		283
Other comprehensive loss	—	—		—	—		—		—		(293)		(293)		(105)		(398)
Dividends	—	—		—	—		—		—		—		—		—		—
Share repurchases	(1)	—		(1)	—		(30)		(10)		—		(40)		—		(40)
Other	—	—		—	—		14		—		—		14		—		14
Balance, December 31, 2024	378	$	4	189	$	2	$	11,141	$	(1,574)	$	(1,424)	$	8,149	$	876	$	9,025

	For the three months ended December 31, 2023
	Class A Common Stock			Class B Common Stock			Additional Paid-in Capital		Accumulated Deficit		Accumulated Other Comprehensive Loss		Total News Corp Equity		Non-controlling Interests		Total Equity
	Shares	Amount		Shares	Amount
	(in millions)
Balance, September 30, 2023	381	$	4	192	$	2	$	11,347	$	(2,114)	$	(1,347)	$	7,892	$	844	$	8,736
Net income	—	—		—	—		—		156		—		156		27		183
Other comprehensive income	—	—		—	—		—		—		147		147		49		196
Dividends	—	—		—	—		—		—		—		—		—		—
Share repurchases	(1)	—		(1)	—		(26)		—		—		(26)		—		(26)
Other	—	—		—	—		13		—		—		13		—		13
Balance, December 31, 2023	380	$	4	191	$	2	$	11,334	$	(1,958)	$	(1,200)	$	8,182	$	920	$	9,102

	For the six months ended December 31, 2024
	Class A Common Stock			Class B Common Stock			Additional Paid-in Capital		Accumulated Deficit		Accumulated Other Comprehensive Loss		Total News Corp Equity		Non-controlling Interests		Total Equity
	Shares	Amount		Shares	Amount
	(in millions)
Balance, June 30, 2024	379	$	4	190	$	2	$	11,254	$	(1,889)	$	(1,251)	$	8,120	$	891	$	9,011
Net income	—	—		—	—		—		334		—		334		93		427
Other comprehensive loss	—	—		—	—		—		—		(173)		(173)		(74)		(247)
Dividends	—	—		—	—		(57)		—		—		(57)		(35)		(92)
Share repurchases	(2)	—		(1)	—		(59)		(19)		—		(78)		—		(78)
Other	1	—		—	—		3		—		—		3		1		4
Balance, December 31, 2024	378	$	4	189	$	2	$	11,141	$	(1,574)	$	(1,424)	$	8,149	$	876	$	9,025

	For the six months ended December 31, 2023
	Class A Common Stock			Class B Common Stock			Additional Paid-in Capital		Accumulated Deficit		Accumulated Other Comprehensive Loss		Total News Corp Equity		Non-controlling Interests		Total Equity
	Shares	Amount		Shares	Amount
	(in millions)
Balance, June 30, 2023	380	$	4	192	$	2	$	11,449	$	(2,144)	$	(1,247)	$	8,064	$	881	$	8,945
Net income	—	—		—	—		—		186		—		186		55		241
Other comprehensive income	—	—		—	—		—		—		47		47		18		65
Dividends	—	—		—	—		(57)		—		—		(57)		(28)		(85)
Share repurchases	(2)	—		(1)	—		(55)		—		—		(55)		—		(55)
Other	2	—		—	—		(3)		—		—		(3)		(6)		(9)
Balance, December 31, 2023	380	$	4	191	$	2	$	11,334	$	(1,958)	$	(1,200)	$	8,182	$	920	$	9,102

Stock Repurchases

The Company’s Board of Directors (the “Board of Directors”) has authorized a repurchase program to purchase up to $1 billion in the aggregate of the Company’s outstanding Class A Common Stock and Class B Common Stock (the “Repurchase Program”). The manner, timing, number and share price of any repurchases will be determined by the Company at its discretion and will depend upon such factors as the market price of the stock, general market conditions, applicable securities laws, alternative investment opportunities and other factors. The Repurchase Program has no time limit and may be modified, suspended or discontinued at any time. As of December 31, 2024, the remaining authorized amount under the Repurchase Program was approximately $382 million.

Stock repurchases under the Repurchase Program commenced on November 9, 2021. The following table summarizes the shares repurchased and subsequently retired and the related consideration paid during the three months ended December 31, 2024 and 2023:

	For the three months ended December 31,
	2024			2023
	Shares	Amount		Shares	Amount
	(in millions)
Class A Common Stock	1.0	$	26	0.8	$	18
Class B Common Stock	0.5	14		0.4	8
Total	1.5	$	40	1.2	$	26

	For the six months ended December 31,
	2024			2023
	Shares	Amount		Shares	Amount
	(in millions)
Class A Common Stock	1.9	$	51	1.8	$	38
Class B Common Stock	0.9	27		0.8	17
Total	2.8	$	78	2.6	$	55

Dividends

In August 2024, 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. The dividend was paid on October 9, 2024 to stockholders of record as of September 11, 2024. 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.