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SEGMENT INFORMATION
 3 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
SEGMENT INFORMATION
NOTE 11. SEGMENT INFORMATION
The Company manages and reports its businesses in the following five segments:
•Dow Jones—The Dow Jones segment consists of Dow Jones, a global provider of news, data and business information whose products target individual consumers and enterprise customers and are distributed through a variety of media channels including websites, mobile apps, newspapers, newswires, newsletters, magazines, proprietary databases, live journalism, video and podcasts. Dow Jones’s news products include premier brands such as The Wall Street Journal, Barron’s, MarketWatch and Investor’s Business Daily. Dow Jones’s professional information products, which target enterprise customers, include Dow Jones Risk & Compliance, a leading provider of data and other solutions to help customers identify and manage regulatory, corporate, geopolitical, security and reputational risk with tools focused on financial crime, sanctions, trade and other risks and compliance requirements, Dow Jones Energy, a leading provider of pricing data, news, insights, analysis and other information for energy commodities and key base chemicals, Factiva, a leading provider of global business content, and Dow Jones Newswires, which distributes real-time business news, information and analysis to financial professionals and investors.
•Digital Real Estate Services—The Digital Real Estate Services segment consists of the Company’s 62.0% interest in REA Group and 80% interest in Move. The remaining 20% interest in Move is held by REA Group. REA Group is a market-leading digital media business specializing in property and is listed on the Australian Securities Exchange (“ASX”) (ASX: REA). REA Group advertises property and property-related services on its websites and mobile apps, including Australia’s leading residential, commercial and share property websites, realestate.com.au, realcommercial.com.au and Flatmates.com.au. In addition, REA Group provides financial services through a digital property search and financing experience, a mortgage broking offering and property-related data services to the financial sector.
Move is a leading provider of digital real estate services in the U.S. and primarily operates Realtor.com®, a premier real estate information, advertising and services platform. Move offers real estate advertising solutions to agents and brokers, including its RealPRO SelectSM, ConnectionsSM Plus and Listing Toolkit products as well as its referral-based services, including RealChoiceTM Selling. Move also offers Realtor.com®+TM, its collaborative home search platform that helps real estate professionals and consumers connect, as well as online tools and services to do-it-yourself landlords and tenants.
•Book Publishing—The Book Publishing segment consists of HarperCollins, the second largest consumer book publisher in the world, with operations in 15 countries and particular strengths in general fiction, nonfiction, children’s and religious publishing. HarperCollins owns more than 120 branded publishing imprints, including Harper, William Morrow, Mariner, HarperCollins Children’s Books, Avon, Harlequin and Christian publishers Zondervan and Thomas Nelson, and publishes works by well-known authors such as Harper Lee, George Orwell, Agatha Christie and Zora Neale Hurston, as well as global author brands including J.R.R. Tolkien, C.S. Lewis, Daniel Silva, Karin Slaughter and Dr. Martin Luther King, Jr. It is home to many beloved children’s books and series and a significant Christian publishing business.
•News Media—The News Media segment consists primarily of News Corp Australia, News UK and the New York Post and includes The Australian, The Daily Telegraph, Herald Sun, The Courier Mail, The Advertiser and the news.com.au website in Australia, The Times, The Sunday Times, The Sun, The Sun on Sunday and thesun.co.uk in the U.K. and the-sun.com in the U.S. This segment also includes News Broadcasting, operator of talkSPORT, the leading sports radio network in the U.K., and Australian News Channel, which operates the News24 network, Australia’s 24-hour multi-channel, multi-platform news service.
•Other—The Other segment consists primarily of general corporate overhead expenses, strategy costs and costs related to the U.K. Newspaper Matters.
The Company’s chief operating decision maker (“CODM”) is its Chief Executive Officer. Segment EBITDA is the primary measure used by the Company’s CODM to evaluate the performance of, and allocate resources within, the Company’s businesses. The CODM uses Segment EBITDA to compare actual results to budget and uses this information to, among other things, allocate resources such as incentive compensation to segment managers. Segment EBITDA is defined as revenues less operating expenses and selling, general and administrative expenses. Segment EBITDA does not include: depreciation and amortization, impairment and restructuring charges, equity losses of affiliates, interest (expense) income, net, other, net and income tax (expense) benefit. Segment EBITDA may not be comparable to similarly titled measures reported by other companies, since companies and investors may differ as to what items should be included in the calculation of Segment EBITDA. Segment EBITDA provides management, investors and equity analysts with a measure to analyze the operating performance of each of the Company’s business segments and its enterprise value against historical data and competitors’ data, although historical results may not be indicative of future results (as operating performance is highly contingent on many factors, including customer tastes and preferences).
Segment information is summarized as follows:
For the three months ended September 30, 2026
Dow JonesDigital Real Estate ServicesBook PublishingNews MediaOtherTotal
(in millions)
Segment information:
Revenues$630 $529 $582 $540 $— $2,281 
Significant segment expenses:
Operating expenses(246)(46)(398)(298)— (988)
Selling, general and administrative(224)(271)(109)(224)(62)(890)
Segment EBITDA$160 $212 $75 $18 $(62)$403 
Depreciation and amortization(126)
Impairment and restructuring charges(20)
Equity losses of affiliates(3)
Interest income, net4 
Other, net38 
Income before income tax expense296 
Income tax expense(81)
Net income$215 
For the three months ended September 30, 2025
Dow JonesDigital Real Estate ServicesBook PublishingNews MediaOtherTotal
(in millions)
Segment information:
Revenues$586 $479 $534 $545 $— $2,144 
Significant segment expenses:
Operating expenses(238)(53)(354)(296)— (941)
Selling, general and administrative(204)(268)(122)(219)(50)(863)
Segment EBITDA$144 $158 $58 $30 $(50)$340 
Depreciation and amortization(117)
Impairment and restructuring charges(19)
Equity losses of affiliates(2)
Interest income, net6 
Other, net4 
Income before income tax expense212 
Income tax expense(62)
Net income$150 
For the three months ended September 30,
20262025
(in millions)
Depreciation and amortization:
Dow Jones$43 $40 
Digital Real Estate Services44 37 
Book Publishing16 15 
News Media21 24 
Other2 1 
Total Depreciation and amortization$126 $117 
For the three months ended September 30,
20262025
(in millions)
Capital expenditures:
Dow Jones$38 $15 
Digital Real Estate Services38 38 
Book Publishing9 8 
News Media16 18 
Other1 2 
Total Capital expenditures
$102 $81 
As of
September 30, 2026		As of
June 30, 2026
(in millions)
Total assets:
Dow Jones$4,140 $4,159 
Digital Real Estate Services3,442 3,515 
Book Publishing2,861 2,743 
News Media2,031 2,044 
Other(a)
1,914 2,081 
Investments1,048 1,002 
Total assets$15,436 $15,544 
(a)The Other segment primarily includes Cash and cash equivalents.
As of
September 30, 2026		As of
June 30, 2026
(in millions)
Goodwill and intangible assets, net:
Dow Jones$3,232 $3,244 
Digital Real Estate Services1,943 1,931 
Book Publishing900 907 
News Media298 297 
Total Goodwill and intangible assets, net$6,373 $6,379