REVENUES (Tables)

9 Months Ended

Mar. 31, 2025

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregated Revenue by Type and Segment

The following tables present the Company’s disaggregated revenues by type and segment for the three and nine months ended March 31, 2025 and 2024:

	For the three months ended March 31, 2025
	Dow Jones		Digital Real Estate Services		Book Publishing		News Media		Other		Total Revenues
	(in millions)
Revenues:
Circulation and subscription	$	478	$	1	$	—	$	276	$	—	$	755
Advertising	86		36		—		186		—		308
Consumer	—		—		492		—		—		492
Real estate	—		318		—		—		—		318
Other	11		51		22		52		—		136
Total Revenues	$	575	$	406	$	514	$	514	$	—	$	2,009

	For the three months ended March 31, 2024
	Dow Jones		Digital Real Estate Services		Book Publishing		News Media		Other		Total Revenues
	(in millions)
Revenues:
Circulation and subscription	$	445	$	3	$	—	$	286	$	—	$	734
Advertising	86		32		—		205		—		323
Consumer	—		—		484		—		—		484
Real estate	—		301		—		—		—		301
Other	13		52		22		65		—		152
Total Revenues	$	544	$	388	$	506	$	556	$	—	$	1,994

	For the nine months ended March 31, 2025
	Dow Jones		Digital Real Estate Services		Book Publishing		News Media		Other		Total Revenues
	(in millions)
Revenues:
Circulation and subscription	$	1,398	$	5	$	—	$	840	$	—	$	2,243
Advertising	292		109		—		613		—		1,014
Consumer	—		—		1,585		—		—		1,585
Real estate	—		1,052		—		—		—		1,052
Other	37		170		70		172		—		449
Total Revenues	$	1,727	$	1,336	$	1,655	$	1,625	$	—	$	6,343

	For the nine months ended March 31, 2024
	Dow Jones		Digital Real Estate Services		Book Publishing		News Media		Other		Total Revenues
	(in millions)
Revenues:
Circulation and subscription	$	1,322	$	8	$	—	$	853	$	—	$	2,183
Advertising	303		99		—		644		—		1,046
Consumer	—		—		1,513		—		—		1,513
Real estate	—		939		—		—		—		939
Other	40		164		68		207		—		479
Total Revenues	$	1,665	$	1,210	$	1,581	$	1,704	$	—	$	6,160

Schedule of Changes in the Deferred Revenue Balance

The following table presents changes in the deferred revenue balance 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)
Balance, beginning of period	$	431	$	446	$	483	$	554
Deferral of revenue	807		740		2,404		2,136
Recognition of deferred revenue(a)	(740)		(694)		(2,385)		(2,201)
Other	3		(8)		(1)		(5)
Balance, end of period	$	501	$	484	$	501	$	484

(a)For the three and nine months ended March 31, 2025, the Company recognized $178 million and $428 million, respectively, of revenue which was included in the opening deferred revenue balance. For the three and nine months ended March 31, 2024, the Company recognized $153 million and $498 million, respectively, of revenue which was included in the opening deferred revenue balance.