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Segment Information
 9 Months Ended
Mar. 31, 2024
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, virtual multi-channel video programming distributors 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 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. The segment also includes various production companies that produce content for the Company and third parties.
•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, Restructuring, impairment and other corporate matters, Interest expense, net, Non-operating 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, 2024 and 2023:
 
For the three months ended March 31,
For the nine months ended March 31,
 2024202320242023
 (in millions)
Revenues  
Cable Network Programming$1,472 $1,570 $4,517 $4,633 
Television1,938 2,475 6,260 7,123 
Other, Corporate and Eliminations37 39 111 125 
Total revenues$3,447 $4,084 $10,888 $11,881 
Segment EBITDA
Cable Network Programming$819 $792 $1,990 $1,887 
Television145 117 358 782 
Other, Corporate and Eliminations(73)(76)(238)(213)
Amortization of cable distribution investments(4)(4)(12)(12)
Depreciation and amortization(98)(106)(291)(308)
Restructuring, impairment and other corporate matters(15)(893)(24)(1,015)
Interest expense, net(55)(55)(169)(183)
Non-operating other, net242 174 39 293 
Income (loss) before income tax (expense) benefit961 (51)1,653 1,231 
Income tax (expense) benefit(257)1 (419)(347)
Net income (loss)704 (50)1,234 884 
Less: Net income attributable to noncontrolling interests(38)(4)(52)(20)
Net income (loss) attributable to Fox Corporation stockholders$666 $(54)$1,182 $864 
Revenues by Segment by Component
 
For the three months ended March 31,
For the nine months ended March 31,
 2024202320242023
 (in millions)
Cable Network Programming  
Affiliate fee$1,104 $1,093 $3,140 $3,148 
Advertising296 316 934 1,083 
Other72 161 443 402 
Total Cable Network Programming revenues1,472 1,570 4,517 4,633 
Television
Advertising939 1,559 3,503 4,516 
Affiliate fee834 764 2,325 2,132 
Other165 152 432 475 
Total Television revenues1,938 2,475 6,260 7,123 
Other, Corporate and Eliminations37 39 111 125 
Total revenues$3,447 $4,084 $10,888 $11,881 
For the three months ended March 31,
For the nine months ended March 31,
2024202320242023
(in millions)
Depreciation and amortization
Cable Network Programming$20 $18 $57 $52 
Television29 38 86 97 
Other, Corporate and Eliminations49 50 148 159 
Total depreciation and amortization$98 $106 $291 $308 
As of
March 31,
2024
As of
June 30,
2023
(in millions)
Assets
Cable Network Programming$2,778 $2,658 
Television8,111 7,803 
Other, Corporate and Eliminations9,578 10,371 
Investments1,250 1,034 
Total assets$21,717 $21,866