v3.25.4
REVENUES (Tables)
 6 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregated Revenue by Type and Segment
The following tables present the Company’s disaggregated revenues by type and segment for the three and six months ended December 31, 2025 and 2024:
For the three months ended December 31, 2025
Dow JonesDigital Real
Estate
Services		Book
Publishing		News MediaOtherTotal
Revenues
(in millions)
Revenues:
Circulation and subscription$497 $2 $— $293 $— $792 
Advertising133 40 — 216 — 389 
Consumer— — 607 — — 607 
Real estate— 401 — — — 401 
Other18 68 26 61 — 173 
Total Revenues$648 $511 $633 $570 $— $2,362 
For the three months ended December 31, 2024
Dow JonesDigital Real
Estate
Services		Book
Publishing		News MediaOtherTotal
Revenues
(in millions)
Revenues:
Circulation and subscription$461 $2 $— $282 $— $745 
Advertising121 35 — 229 — 385 
Consumer— — 572 — — 572 
Real estate— 377 — — — 377 
Other18 59 23 59 — 159 
Total Revenues$600 $473 $595 $570 $— $2,238 
For the six months ended December 31, 2025
Dow JonesDigital Real
Estate
Services		Book
Publishing		News MediaOtherTotal
Revenues
(in millions)
Revenues:
Circulation and subscription$988 $4 $— $582 $— $1,574 
Advertising218 81 — 407 — 706 
Consumer— — 1,117 — — 1,117 
Real estate— 771 — — — 771 
Other28 134 50 126 — 338 
Total Revenues$1,234 $990 $1,167 $1,115 $— $4,506 
For the six months ended December 31, 2024
Dow JonesDigital Real
Estate
Services		Book
Publishing		News MediaOtherTotal
Revenues
(in millions)
Revenues:
Circulation and subscription$920 $4 $— $564 $— $1,488 
Advertising206 73 — 427 — 706 
Consumer— — 1,093 — — 1,093 
Real estate— 734 — — — 734 
Other26 119 48 120 — 313 
Total Revenues$1,152 $930 $1,141 $1,111 $— $4,334 
Schedule of Changes in the Deferred Revenue Balance The following table presents changes in the deferred revenue balance for the three and six months ended December 31, 2025 and 2024:
For the three months ended
December 31,		For the six months ended
December 31,
2025202420252024
(in millions)
Balance, beginning of period$504 $488 $498 $483 
Deferral of revenue814 810 1,623 1,597 
Recognition of deferred revenue(a)
(844)(855)(1,645)(1,645)
Other— (12)(2)(4)
Balance, end of period$474 $431 $474 $431 
(a)For the three and six months ended December 31, 2025, the Company recognized $222 million and $389 million, respectively, of revenue which was included in the opening deferred revenue balance. For the three and six months ended December 31, 2024, the Company recognized $205 million and $378 million, respectively, of revenue which was included in the opening deferred revenue balance.