DISCONTINUED OPERATIONS

12 Months Ended

Jun. 30, 2026

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS

NOTE 3. DISCONTINUED OPERATIONS

Foxtel

During the second quarter of fiscal 2025, the Company entered into a definitive agreement to sell the Foxtel Group (“Foxtel”) to DAZN Group Limited (“DAZN”) and the sale closed on April 2, 2025. The results of operations and cash flows of Foxtel have been classified as discontinued operations for all periods presented in accordance with ASC 205-20, Discontinued Operations, as the disposition reflected a strategic shift that had a major effect on the Company’s operations and financial results. Upon reclassification of Foxtel’s results, the Company determined that the Subscription Video Services segment was no longer a reportable segment, and the residual results of the segment were aggregated into the News Media segment. News Media segment results have been recast to reflect this change for all periods presented. See Note 20—Segment Information.

In all periods presented, transactions between Foxtel and the continuing operations of the Company that did not continue after the sale are eliminated, whereas those that continued are no longer eliminated.

The following table summarizes the results of operations from the discontinued operations of Foxtel for the fiscal years ended June 30, 2025 and 2024:

	For the fiscal years ended June 30,
		2025		2024
	(in millions)
Revenues		$	1,393	$	1,908
Operating expenses		(940)		(1,285)
Selling, general and administrative		(236)		(325)
Depreciation and amortization(a)		(156)		(294)
Impairment and restructuring charges		(2)		(5)
Interest expense, net		(51)		(67)
Other, net(b)		721		29
Income (loss) before income tax (expense) benefit		729		(39)
Income tax (expense) benefit		(37)		14
Net income (loss)		692		(25)
Net loss attributable to noncontrolling interests		8		22
Net income (loss) attributable to News Corporation stockholders		$	700	$	(3)

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

(b)For fiscal 2025, Other, net primarily consists of the $716 million pre-tax gain on the sale of Foxtel.