NWS — what changed in the latest 10-K

Text added vs the prior filing · source: 10-K · 2026-08-07

• The Company’s Dow Jones segment is a global provider of news, data and business information distributed through a variety of owned and off-platform media channels, including websites, mobile apps, newspapers, newswires, newsletters, magazines, proprietary databases, live journalism, video and podcas…

• Through its premier brands and authoritative journalism, the Dow Jones segment’s news products targeting individual consumers provide insights, research and understanding that enable consumers to stay informed and make educated financial decisions. Dow Jones also provides news, business information …

• •The Wall Street Journal (WSJ). WSJ, Dow Jones’s flagship news product, is available online, across multiple mobile devices and in print. WSJ covers national and international news and provides analysis, commentary, reviews and opinions on a wide range of topics, including business developments and …

• •Barron’s Group. The Barron’s Group includes Barron’s and MarketWatch, among other properties.

• The Dow Jones segment’s news products, including its digital publications, newspapers, magazines, podcasts and video, compete for consumers and customers, audience and advertising with other local and national news and editorial content providers, web and app-based media, news aggregators, customize…

Text removed vs the prior filing · source: 10-K · 2025-08-06

• On April 2, 2025, the Company completed the sale of Foxtel. All assets and liabilities, results of operations and cash flows for Foxtel have been classified as discontinued operations for all periods presented. Upon reclassification, the Company determined that the Subscription Video Services segmen…

• The Company’s Dow Jones segment is a global provider of news and business information, which distributes its content and data through a variety of owned and off-platform media channels including websites, mobile apps, newspapers, newswires, newsletters, magazines, proprietary databases, live journal…

• Through its premier brands and authoritative journalism, the Dow Jones segment’s products targeting individual consumers provide insights, research and understanding that enable consumers to stay informed and make educated financial decisions. As consumer preferences for content consumption evolve, …

• third-party platforms, which is referred to as off-platform distribution, and for use by generative artificial intelligence (“AI”) platforms. With a focus on the financial markets, investing and other professional services, many of these products offer advertisers an attractive consumer demographic.…

• •The Wall Street Journal (WSJ). WSJ, Dow Jones’s flagship consumer product, is available online, across multiple mobile devices and in print. WSJ covers national and international news and provides analysis, commentary, reviews and opinions on a wide range of topics, including business developments …

Text added vs the prior filing · source: 10-K · 2026-08-07

• The Company may also be impacted by other events outside its control, such as developments in the industries in which it operates. In the U.S. residential real estate industry, lawsuits and regulatory investigations, as well as pressure from industry participants, have led to changes in established …

• The Company’s Businesses Depend on a Single or Limited Number of Suppliers for Certain Products, Services, Data and Information, and Reductions, Interruptions or Other Issues Affecting Their Supply or a Significant Increase in Price Could Have an Adverse Effect on the Company’s Business, Results of …

• The Company’s businesses depend on a single or limited number of third-party suppliers for certain products, services, data and information. The Company relies on Amazon Web Services to supply cloud-based services used in many of the Company’s business activities and Google to provide workspace and …

• A Decline in Customer Advertising Expenditures or Other Adverse Changes in the Advertising Ecosystem Could Cause the Company’s Revenues and Operating Results to Decline Significantly.

• The Company generates substantial revenues from the sale of advertising, and declines in advertising revenues have had, and could continue to have, an adverse effect on its business, results of operations and financial condition. Consumer preferences for digital content consumption, the increasing n…

Text removed vs the prior filing · source: 10-K · 2025-08-06

• scale, financial leverage and/or access to content, data, information, technology (including AI) and other offerings. If the Company is unable to compete successfully, its business, results of operations and financial condition could be adversely affected.

• The Company may also be impacted by other events outside its control, such as developments in the industries in which it operates. In the U.S. residential real estate industry, settlements of recent class action lawsuits against certain brokerages and franchisors, as well as NAR, have led to changes…

• A Decline in Customer Advertising Expenditures Could Cause the Company’s Revenues and Operating Results to Decline Significantly.

• The Company generates substantial revenues from the sale of advertising, and a decline in advertising revenues has had, and could continue to have, an adverse effect on its business, financial condition and results of operations. Shifting consumer preferences toward digital content consumption and t…

• the phase-out of support for third-party cookies and mobile identifiers, as well as platform and browser requirements, news blocking or bias and new privacy regulations, may also negatively impact digital advertising revenues. There can be no assurance that the Company will be able to successfully n…

Text added vs the prior filing · source: 10-K · 2026-08-07

• In March 2026, the Company entered into an amended and restated credit agreement which, among other things, extended the maturity of its credit facilities to five years, increased the capacity under its revolving credit facility from $750 million to $1 billion and increased the amounts outstanding u…

• The Company is monitoring ongoing geopolitical tensions and conflicts, particularly the recent conflict in Iran and related regional instability. The conflict has not had a material impact on the Company’s business or results of operations to date. However, the conflict has disrupted energy supplies…

• The following table sets forth the Company’s operating results for fiscal 2026 as compared to fiscal 2025.

• Income before income tax expense from continuing operations1,046 923 123 13 %

• Net income from discontinued operations, net of tax— 692 (692)(100)%

Text removed vs the prior filing · source: 10-K · 2025-08-06

• During the second quarter of fiscal 2025, the Company entered into a definitive agreement to sell the Foxtel Group (“Foxtel”) to DAZN Group Limited (“DAZN”), a global sports streaming platform, and the transaction closed in April 2025.

• The assets and liabilities, results of operations and cash flows for Foxtel have been classified as discontinued operations for all periods presented as the disposition reflects a strategic shift that has, and will have, a major effect on the Company’s operations and financial results. Furthermore, …

• Recent changes in trade policy, including new or potential tariffs and other trade restrictions announced by the U.S. and other countries, have led to significant economic and market volatility and uncertainty and may exacerbate inflationary pressures. While the Company does not currently expect the…

• The following table sets forth the Company’s operating results for fiscal 2025 as compared to fiscal 2024.

• Income tax expense from continuing operations(275)(206)(69)(33)%

Text added vs the prior filing · source: 10-K · 2026-08-07

• As noted above, News Corporation has entered into an interest rate swap cash flow hedge to fix the floating rate interest component of a portion of its 2026 Term A Loans. The derivative instruments in place may create volatility during the fiscal year as they are marked-to-market according to accoun…

• The table below provides further details of the sensitivity of the Company’s derivative financial instruments which are subject to interest rate risk as of June 30, 2026:

Text removed vs the prior filing · source: 10-K · 2025-08-06

• As noted above, News Corporation has entered into an interest rate swap cash flow hedge to fix the floating rate interest component of its Term A Loans. As of June 30, 2025, the notional amount of interest rate swap contracts outstanding was

• approximately $475 million for News Corporation borrowings. Refer to Note 11—Financial Instruments and Fair Value Measurements in the accompanying Consolidated Financial Statements for further detail. The derivative instruments in place may create volatility during the fiscal year as they are marked…

• The table below provides further details of the sensitivity of the Company’s derivative financial instruments which are subject to interest rate risk as of June 30, 2025 (in millions):