| Schedule of Changes in Equity |
The following tables summarize changes in equity for the three and six months ended December 31, 2025 and 2024: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the three months ended December 31, 2025 | | Class A Common Stock | | Class B Common Stock | | Additional Paid-in Capital | | Accumulated Deficit | | Accumulated Other Comprehensive Loss | | Total News Corp Equity | | Non-controlling Interests | | Total Equity | | Shares | | Amount | | Shares | | Amount | | | | | | | | (in millions) | | Balance, September 30, 2025 | 376 | | | $ | 4 | | | 188 | | | $ | 2 | | | $ | 10,929 | | | $ | (664) | | | $ | (1,567) | | | $ | 8,704 | | | $ | 606 | | | $ | 9,310 | | | | | | | | | | | | | | | | | | | | | | | Net income | — | | | — | | | — | | | — | | | — | | | 193 | | | — | | | 193 | | | 49 | | | 242 | | | Other comprehensive income | — | | | — | | | — | | | — | | | — | | | — | | | 53 | | | 53 | | | 19 | | | 72 | | | Dividends | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | Share repurchases | (4) | | | — | | | (2) | | | — | | | (137) | | | (38) | | | — | | | (175) | | | — | | | (175) | | | Other | — | | | — | | | — | | | — | | | 17 | | | — | | | — | | | 17 | | | (4) | | | 13 | | | Balance, December 31, 2025 | 372 | | | $ | 4 | | | 186 | | | $ | 2 | | | $ | 10,809 | | | $ | (509) | | | $ | (1,514) | | | $ | 8,792 | | | $ | 670 | | | $ | 9,462 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the three months ended December 31, 2024 | | Class A Common Stock | | Class B Common Stock | | Additional Paid-in Capital | | Accumulated Deficit | | Accumulated Other Comprehensive Loss | | Total News Corp Equity | | Non-controlling Interests | | Total Equity | | Shares | | Amount | | Shares | | Amount | | | | | | | | (in millions) | | Balance, September 30, 2024 | 379 | | | $ | 4 | | | 190 | | | $ | 2 | | | $ | 11,157 | | | $ | (1,779) | | | $ | (1,131) | | | $ | 8,253 | | | $ | 913 | | | $ | 9,166 | | | | | | | | | | | | | | | | | | | | | | | Net income | — | | | — | | | — | | | — | | | — | | | 215 | | | — | | | 215 | | | 68 | | | 283 | | | Other comprehensive loss | — | | | — | | | — | | | — | | | — | | | — | | | (293) | | | (293) | | | (105) | | | (398) | | | Dividends | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | Share repurchases | (1) | | | — | | | (1) | | | — | | | (30) | | | (10) | | | — | | | (40) | | | — | | | (40) | | Other | — | | | — | | | — | | | — | | | 14 | | | — | | | — | | | 14 | | | — | | | 14 | | | Balance, December 31, 2024 | 378 | | | $ | 4 | | | 189 | | | $ | 2 | | | $ | 11,141 | | | $ | (1,574) | | | $ | (1,424) | | | $ | 8,149 | | | $ | 876 | | | $ | 9,025 | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the six months ended December 31, 2025 | | Class A Common Stock | | Class B Common Stock | | Additional Paid-in Capital | | Accumulated Deficit | | Accumulated Other Comprehensive Loss | | Total News Corp Equity | | Non-controlling Interests | | Total Equity | | Shares | | Amount | | Shares | | Amount | | | | | | | | (in millions) | | Balance, June 30, 2025 | 377 | | | $ | 4 | | | 189 | | | $ | 2 | | | $ | 11,058 | | | $ | (747) | | | $ | (1,543) | | | $ | 8,774 | | | $ | 615 | | | $ | 9,389 | | | | | | | | | | | | | | | | | | | | | | | Net income | — | | | — | | | — | | | — | | | — | | | 305 | | | — | | | 305 | | | 87 | | | 392 | | | Other comprehensive income | — | | | — | | | — | | | — | | | — | | | — | | | 29 | | | 29 | | | 20 | | | 49 | | | Dividends | — | | | — | | | — | | | — | | | (57) | | | — | | | — | | | (57) | | | (47) | | | (104) | | | Share repurchases | (6) | | | — | | | (3) | | | — | | | (202) | | | (67) | | | — | | | (269) | | | — | | | (269) | | | Other | 1 | | | — | | | — | | | — | | | 10 | | | — | | | — | | | 10 | | | (5) | | | 5 | | | Balance, December 31, 2025 | 372 | | | $ | 4 | | | 186 | | | $ | 2 | | | $ | 10,809 | | | $ | (509) | | | $ | (1,514) | | | $ | 8,792 | | | $ | 670 | | | $ | 9,462 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the six months ended December 31, 2024 | | Class A Common Stock | | Class B Common Stock | | Additional Paid-in Capital | | Accumulated Deficit | | Accumulated Other Comprehensive Loss | | Total News Corp Equity | | Non-controlling Interests | | Total Equity | | Shares | | Amount | | Shares | | Amount | | | | | | | | (in millions) | | Balance, June 30, 2024 | 379 | | | $ | 4 | | | 190 | | | $ | 2 | | | $ | 11,254 | | | $ | (1,889) | | | $ | (1,251) | | | $ | 8,120 | | | $ | 891 | | | $ | 9,011 | | | | | | | | | | | | | | | | | | | | | | | Net income | — | | | — | | | — | | | — | | | — | | | 334 | | | — | | | 334 | | | 93 | | | 427 | | | Other comprehensive loss | — | | | — | | | — | | | — | | | — | | | — | | | (173) | | | (173) | | | (74) | | | (247) | | | Dividends | — | | | — | | | — | | | — | | | (57) | | | — | | | — | | | (57) | | | (35) | | | (92) | | | Share repurchases | (2) | | | — | | | (1) | | | — | | | (59) | | | (19) | | | — | | | (78) | | | — | | | (78) | | | Other | 1 | | | — | | | — | | | — | | | 3 | | | — | | | — | | | 3 | | | 1 | | | 4 | | | Balance, December 31, 2024 | 378 | | | $ | 4 | | | 189 | | | $ | 2 | | | $ | 11,141 | | | $ | (1,574) | | | $ | (1,424) | | | $ | 8,149 | | | $ | 876 | | | $ | 9,025 | |
|
| Schedule of Shares Repurchased and Subsequently Retired and the Related Consideration Paid |
The following tables summarize the shares repurchased under the Stock Repurchase Programs and subsequently retired and the related consideration paid, excluding associated taxes, fees, commissions or other costs, during the three and six months ended December 31, 2025 and 2024: | | | | | | | | | | | | | | | | | | | | | | | | | For the three months ended December 31, | | 2025 | | 2024 | | Shares | | Amount | | Shares | | Amount | | (in millions) | Class A Common Stock | 4.4 | | | $ | 115 | | | 1.0 | | | $ | 26 | | Class B Common Stock | 1.9 | | | 57 | | | 0.5 | | | 14 | | Total | 6.3 | | | $ | 172 | | | 1.5 | | | $ | 40 | |
| | | | | | | | | | | | | | | | | | | | | | | | | For the six months ended December 31, | | 2025 | | 2024 | | Shares | | Amount | | Shares | | Amount | | (in millions) | Class A Common Stock | 6.5 | | | $ | 177 | | | 1.9 | | | $ | 51 | | Class B Common Stock | 2.8 | | | 89 | | | 0.9 | | | 27 | | Total | 9.3 | | | $ | 266 | | | 2.8 | | | $ | 78 | |
|