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”), and the sale closed on April 2, 2025. The results of operations and cash flows of Foxtel have been classified as discontinued operations for all periods presented in accordance with ASC 205-20, Discontinued Operations, as the disposition reflected a strategic shift that had 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. News Media segment results have been recast to reflect this change for all periods presented. See Note 12—Segment Information.

In all periods presented, transactions between Foxtel and the continuing operations of the Company that did not continue after the sale are eliminated, whereas those that continued are no longer eliminated.


	For the three months ended September 30, 2024
		(in millions)
Revenues		$	499
Operating expenses		(324)
Selling, general and administrative		(85)
Depreciation and amortization		(77)
Impairment and restructuring charges		(1)

Interest expense, net		(18)
Other, net		1
Loss before income tax benefit		(5)
Income tax benefit		—
Net loss		(5)
Net loss attributable to noncontrolling interests		6
Net income attributable to News Corporation stockholders		$	1