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Segment Information
 9 Months Ended
Mar. 31, 2023
Segment Reporting [Abstract]  
Segment Information SEGMENT INFORMATION
The Company is a news, sports and entertainment company, which manages and reports its businesses in the following segments:
•Cable Network Programming, which produces and licenses news and sports content distributed through traditional cable television systems, direct broadcast satellite operators and telecommunication companies (“traditional MVPDs”), virtual multi-channel video programming distributors (“virtual MVPDs”) and other digital platforms, primarily in the U.S.
•Television, which produces, acquires, markets and distributes programming through the FOX broadcast network, advertising supported video-on-demand (“AVOD”) service TUBI, 29 full power broadcast television stations, including 11 duopolies, and other digital platforms, primarily in the U.S. Eighteen of the broadcast television stations are affiliated with the FOX Network, 10 are affiliated with MyNetworkTV and one is an independent station.
•Other, Corporate and Eliminations, which principally consists of the FOX Studio Lot, Credible, corporate overhead costs and intracompany eliminations. The FOX Studio Lot, located in Los Angeles, California, provides television and film production services along with office space, studio operation services and includes all operations of the facility. Credible is a U.S. consumer finance marketplace.
The Company’s operating segments have been determined in accordance with the Company’s internal management structure, which is organized based on operating activities. The Company evaluates performance based upon several factors, of which the primary financial measure is segment operating income before depreciation and amortization, or Segment EBITDA. Due to the integrated nature of these operating segments, estimates and judgments are made in allocating certain assets, revenues and expenses.
Segment EBITDA is defined as Revenues less Operating expenses and Selling, general and administrative expenses. Segment EBITDA does not include: Amortization of cable distribution investments, Depreciation and amortization, Impairment and restructuring charges, Interest expense, net, Other, net and Income tax expense. Management believes that Segment EBITDA is an appropriate measure for evaluating the operating performance of the Company’s business segments because it is the primary measure used by the Company’s chief operating decision maker to evaluate the performance of and allocate resources to the Company’s businesses.
The following tables set forth the Company’s Revenues and Segment EBITDA for the three and nine months ended March 31, 2023 and 2022:
 
For the three months ended March 31,
For the nine months ended March 31,
 2023202220232022
 (in millions)
Revenues  
Cable Network Programming$1,570 $1,583 $4,633 $4,637 
Television2,475 1,820 7,123 6,160 
Other, Corporate and Eliminations39 52 125 144 
Total revenues$4,084 $3,455 $11,881 $10,941 
Segment EBITDA
Cable Network Programming$792 $864 $1,887 $2,306 
Television117 35 782 121 
Other, Corporate and Eliminations(76)(88)(213)(242)
Amortization of cable distribution investments(4)(5)(12)(14)
Depreciation and amortization(106)(92)(308)(264)
Interest expense, net(55)(91)(183)(285)
Other, net(719)(233)(722)(375)
(Loss) income before income tax benefit (expense)(51)390 1,231 1,247 
Income tax benefit (expense)1 (100)(347)(322)
Net (loss) income(50)290 884 925 
Less: Net income attributable to noncontrolling interests(4)(7)(20)(26)
Net (loss) income attributable to Fox Corporation stockholders$(54)$283 $864 $899 
Revenues by Segment by Component
 
For the three months ended March 31,
For the nine months ended March 31,
 2023202220232022
 (in millions)
Cable Network Programming  
Affiliate fee$1,093 $1,097 $3,148 $3,162 
Advertising316 339 1,083 1,104 
Other161 147 402 371 
Total Cable Network Programming revenues1,570 1,583 4,633 4,637 
Television
Advertising1,559 969 4,516 3,742 
Affiliate fee764 700 2,132 1,990 
Other152 151 475 428 
Total Television revenues2,475 1,820 7,123 6,160 
Other, Corporate and Eliminations39 52 125 144 
Total revenues$4,084 $3,455 $11,881 $10,941 
For the three months ended March 31,
For the nine months ended March 31,
2023202220232022
(in millions)
Depreciation and amortization
Cable Network Programming$18 $16 $52 $43 
Television38 28 97 82 
Other, Corporate and Eliminations50 48 159 139 
Total depreciation and amortization$106 $92 $308 $264 
As of
March 31,
2023
As of
June 30,
2022
(in millions)
Assets
Cable Network Programming$2,763 $2,682 
Television8,337 7,915 
Other, Corporate and Eliminations10,342 11,010 
Investments954 578 
Total assets$22,396 $22,185