During the three and nine months ended March 31, 2025, the Company recorded restructuring charges of $11 million and $49 million, respectively. During the three and nine months ended March 31, 2024, the Company recorded restructuring charges of $35 million and $60 million, respectively. The restructuring charges recorded in fiscal 2025 and 2024 primarily related to employee termination benefits.

During the nine months ended March 31, 2024, the Company recognized non-cash impairment charges of $22 million at the News Media segment related to the write-down of fixed assets associated with the combination of News UK’s printing operations with those of DMG Media.


	For the three months ended March 31,
	2025				2024
	One time employee termination benefits		Other costs		Total		One time employee termination benefits		Other costs		Total
	(in millions)
Balance, beginning of period	$	18	$	31	$	49	$	22	$	38	$	60
Additions	11		—		11		34		1		35
Payments	(12)		(3)		(15)		(24)		(1)		(25)
Other	(1)		1		—		(1)		—		(1)
Balance, end of period	$	16	$	29	$	45	$	31	$	38	$	69


	For the nine months ended March 31,
	2025				2024
	One time employee termination benefits		Other costs		Total		One time employee termination benefits		Other costs		Total
	(in millions)
Balance, beginning of period	$	25	$	34	$	59	$	48	$	41	$	89
Additions	47		2		49		59		1		60
Payments	(54)		(7)		(61)		(75)		(4)		(79)
Other	(2)		—		(2)		(1)		—		(1)
Balance, end of period	$	16	$	29	$	45	$	31	$	38	$	69

As of March 31, 2025, restructuring liabilities of approximately $21 million were included in the Balance Sheet in Other current liabilities and $24 million were included in Other non-current liabilities.