EX-99.12ex-991xsupplementalfinanci.htmEX-99.1 Document
Exhibit 99.1
NEWS CORPORATION
SUPPLEMENTAL FINANCIAL INFORMATION
As previously disclosed on December 22, 2024, News Corporation (the “Company”) issued a press release announcing that it and Telstra Corporation Limited have entered into a definitive agreement to sell NXE Australia Pty Limited (“Foxtel”) to DAZN Group Limited. The agreement follows a strategic review of Foxtel as part of the Company’s ongoing efforts to optimize its portfolio and simplify the structure of the Company.
Beginning with the Company's second quarter of Fiscal 2025, as a result of the progression of the sale process and the discontinuation of further significant business activities in the Subscription Video Services segment, the results of operations of Foxtel have been classified as discontinued operations in accordance with ASC 205-20, Discontinued Operations, as the disposition reflects a strategic shift that has, and will have, 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.
The following table details the Company's unaudited recast annual financial information for the fiscal years ended June 30, 2024 and 2023:
For the fiscal year ended June 30,
2024
2023
(in millions)
Revenues:
Dow Jones
$
2,231
$
2,153
Digital Real Estate Services
1,658
1,539
Book Publishing
2,093
1,979
News Media
2,270
2,341
Other
—
—
Total Revenues
$
8,252
$
8,012
Segment EBITDA:
Dow Jones
542
494
Digital Real Estate Services
508
457
Book Publishing
269
167
News Media
133
173
Other
(211)
(202)
Depreciation and amortization
(440)
(415)
Impairment and restructuring charges
(133)
(121)
Equity losses of affiliates
(6)
(127)
Interest expense, net
(18)
(49)
Other, net
(59)
3
Income before income tax expense from continuing operations
585
380
Income tax expense from continuing operations
(206)
(152)
Net income from continuing operations
379
228
Net loss from discontinued operations, net of tax
(25)
(41)
Net income
354
187
Net income attributable to noncontrolling interests from continuing operations
(110)
(65)
Net loss attributable to noncontrolling interests from discontinued operations
22
27
Net income attributable to News Corporation stockholders
$
266
$
149
Exhibit 99.1
The following table details the Company's unaudited recast quarterly financial information for each of the four quarters in fiscal 2024 and the first quarter of fiscal 2025:
For the three months ended
September 30,
2023
December 31,
2023
March 31,
2024
June 30,
2024
September 30,
2024
(in millions)
Revenues:
Dow Jones
$
537
$
584
$
544
$
566
$
552
Digital Real Estate Services
403
419
388
448
457
Book Publishing
525
550
506
512
546
News Media
566
582
556
566
541
Other
—
—
—
—
—
Total Revenues
$
2,031
$
2,135
$
1,994
$
2,092
$
2,096
Segment EBITDA:
Dow Jones
124
163
118
137
131
Digital Real Estate Services
122
147
104
135
140
Book Publishing
65
85
62
57
81
News Media
17
57
27
32
18
Other
(54)
(52)
(52)
(53)
(45)
Depreciation and amortization
(101)
(110)
(114)
(115)
(112)
Impairment and restructuring charges
(37)
(12)
(35)
(49)
(22)
Equity losses of affiliates
(2)
(1)
(2)
(1)
(3)
Interest expense, net
(8)
(7)
(3)
—
—
Other, net
(38)
21
(9)
(33)
22
Income before income tax expense from continuing operations
88
291
96
110
210
Income tax expense from continuing operations
(34)
(97)
(32)
(43)
(61)
Net income from continuing operations
54
194
64
67
149
Net income (loss) from discontinued operations, net of tax
4
(11)
(22)
4
(5)
Net income
$
58
$
183
$
42
$
71
$
144
Net income attributable to noncontrolling interests from continuing operations
(30)
(34)
(22)
(24)
(31)
Net loss attributable to noncontrolling interests from discontinued operations
2
7
10
3
6
Net income attributable to News Corporation stockholders
$
30
$
156
$
30
$
50
$
119
Mentions · how they’re counted
| Category | Underlined | Word counter | Model’s count |
|---|---|---|---|
| AI AI, artificial intelligence, generative AI, machine learning, large language model, LLM | 0 | — | — |
| Layoffs layoffs, RIF, headcount reduction, workforce optimization, restructuring | 2 | — | — |
| Recession recession, downturn, contraction, slowdown | 0 | — | — |
| Tariffs tariff, trade war, trade barriers, trade restrictions, trade policy | 0 | — | — |
| Buybacks share repurchase, buyback program | 0 | — | — |
Underlines use the same word lists the scores use. AI, recession and tariffs follow Palanor’s word counter, so those counts match it exactly on the same text. Layoffs and buybacks use the terms the model was given. The model’s count is an estimate by meaning, not by string, so it can differ from the underlines.
Source: SEC EDGAR · public domain · Highlights by Palanor