DISCONTINUED OPERATIONS (Tables)

9 Months Ended

Mar. 31, 2025

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Assets and Liabilities of Foxtel and Operations of Foxtel

The following table summarizes the assets and liabilities of Foxtel classified to held for sale:

	As of March 31, 2025		As of June 30, 2024
	(in millions)
Assets held for sale:
Current assets:
Cash and cash equivalents	$	76	$	88
Receivables, net	84		83
Inventory, net	46		30
Other current assets	157		139
Total current assets(a)	363		340
Non-current assets:
Investments	1		1
Property, plant and equipment, net	550		642
Operating lease right-of-use assets	137		153
Intangible assets, net	326		374
Goodwill	801		850
Other non-current assets	186		213
Total non-current assets(a)	2,001		2,233
Total assets held for sale	$	2,364	$	2,573
Liabilities held for sale:
Current liabilities:
Accounts payable	$	32	$	60
Accrued expenses	257		245
Deferred revenue	66		68
Current borrowings	28		45
Other current liabilities	150		133
Total current liabilities(a)	533		551
Non-current liabilities:
Borrowings	696		762
Deferred income tax liabilities, net	90		98
Operating lease liabilities	96		115
Other non-current liabilities	16		20
Total non-current liabilities(a)	$	898	$	995
Total liabilities held for sale	$	1,431	$	1,546

(a)The assets and liabilities held for sale are classified as current on the March 31, 2025 balance sheet as the transaction closed on April 2, 2025.

The following table summarizes the results of operations from the discontinued operations of Foxtel for the three and nine months ended March 31, 2025 and 2024:

	For the three months ended March 31,				For the nine months ended March 31,
	2025		2024		2025		2024
	(in millions)
Revenues	$	432	$	455	$	1,393	$	1,405
Operating expenses	(302)		(313)		(940)		(942)
Selling, general and administrative	(68)		(79)		(236)		(237)
Depreciation and amortization(a)	—		(78)		(156)		(217)
Impairment and restructuring charges	—		—		(2)		(2)
Interest expense, net	(16)		(16)		(51)		(49)
Other, net	(1)		(1)		(1)		3
Income (loss) before income tax (expense) benefit	45		(32)		7		(39)
Income tax (expense) benefit	(15)		10		(5)		10
Net income (loss)	30		(22)		2		(29)
Net (income) loss attributable to noncontrolling interests	(8)		10		8		19
Net income (loss) attributable to News Corporation stockholders	22		(12)		10		(10)

(a)Depreciation and amortization is not recognized for long lived assets subsequent to their classification as held for sale.