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BORROWINGS
 3 Months Ended
Sep. 30, 2026
Debt Disclosure [Abstract]  
BORROWINGS
NOTE 5. BORROWINGS
The Company’s total borrowings consist of the following:
Interest rate at September 30, 2026Maturity at September 30, 2026September 30, 2026June 30, 2026
(in millions)
News Corporation
2026 Term loan A(a)
4.857 %Mar 27, 2031$499 $499 
2022 Senior notes5.125 %Feb 15, 2032495 495 
2021 Senior notes3.875 %May 15, 2029995 995 
Finance lease liability(b)
23 — 
Total borrowings2,012 1,989 
Less: current portion(3)— 
Long-term borrowings$2,009 $1,989 
(a)The Company has an interest rate swap derivative as discussed in Note 7—Financial Instruments and Fair Value Measurements. For the three months ended September 30, 2026, the Company was paying interest at an effective interest rate of 3.399%.
(b)Relates to the HarperCollins Equipment Lease described below. Amounts pertain to equipment received as of September 30, 2026.
HarperCollins Equipment Lease
In October 2025, HarperCollins entered into a finance leasing arrangement for up to $120 million of equipment for a new warehouse (the “Equipment Lease”). Interest accrues on amounts drawn under the Equipment Lease based on the Term SOFR plus a margin of 1.475%. The Equipment Lease may be drawn on until June 30, 2028, after which lease payments commence for a term of 7 years. The lease obligations are secured by the acquired equipment, and ownership of the equipment acquired under the Equipment Lease will transfer to HarperCollins at the end of the lease term. The Company has recognized finance lease right-of-use assets on the Company’s Balance Sheet within Property, plant and equipment, net reflecting equipment received as of September 30, 2026.
REA Group 2026 Credit Facility
In September 2026, REA Group terminated its undrawn 2024 REA Credit Facility and entered into a new unsecured syndicated credit facility (the “2026 REA Credit Facility”). The 2026 REA Credit Facility provides a three-year A$500 million revolving loan facility maturing on September 30, 2029. REA Group is a consolidated but non wholly-owned subsidiary of News Corp, and its indebtedness is only guaranteed by REA Group and certain of its subsidiaries and is non-recourse to News Corp.
Borrowings under the 2026 REA Credit Facility accrue interest at a floating rate equal to the Australian BBSY plus a margin of between 1.05% and 1.95%, depending on REA Group’s net leverage ratio. The 2026 REA Credit Facility carries a commitment fee equal to 40% of the applicable margin on any undrawn balance.
Covenants
The Company’s borrowings and those of its consolidated subsidiaries contain customary representations, covenants and events of default. If any of the events of default occur and are not cured within applicable grace periods or waived, any unpaid amounts under the applicable debt agreement may be declared immediately due and payable. The Company was in compliance with all applicable covenants as of September 30, 2026.