REVENUES (Tables)

9 Months Ended

Mar. 31, 2026

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 nine months ended March 31, 2026 and 2025:


	For the three months ended March 31, 2026
	Dow Jones		Digital Real Estate Services		Book Publishing		News Media		Other		Total Revenues
	(in millions)
Revenues:
Circulation and subscription	$	511	$	2	$	—	$	296	$	—	$	809
Advertising	91		40		—		191		—		322
Consumer	—		—		530		—		—		530
Real estate	—		365		—		—		—		365
Other	17		66		25		51		—		159
Total Revenues	$	619	$	473	$	555	$	538	$	—	$	2,185


	For the three months ended March 31, 2025
	Dow Jones		Digital Real Estate Services		Book Publishing		News Media		Other		Total Revenues
	(in millions)
Revenues:
Circulation and subscription	$	478	$	1	$	—	$	276	$	—	$	755
Advertising	86		36		—		186		—		308
Consumer	—		—		492		—		—		492
Real estate	—		318		—		—		—		318
Other	11		51		22		52		—		136
Total Revenues	$	575	$	406	$	514	$	514	$	—	$	2,009


	For the nine months ended March 31, 2026
	Dow Jones		Digital Real Estate Services		Book Publishing		News Media		Other		Total Revenues
	(in millions)
Revenues:
Circulation and subscription	$	1,499	$	6	$	—	$	878	$	—	$	2,383
Advertising	309		121		—		598		—		1,028
Consumer	—		—		1,647		—		—		1,647
Real estate	—		1,136		—		—		—		1,136
Other	45		200		75		177		—		497
Total Revenues	$	1,853	$	1,463	$	1,722	$	1,653	$	—	$	6,691


	For the nine months ended March 31, 2025
	Dow Jones		Digital Real Estate Services		Book Publishing		News Media		Other		Total Revenues
	(in millions)
Revenues:
Circulation and subscription	$	1,398	$	5	$	—	$	840	$	—	$	2,243
Advertising	292		109		—		613		—		1,014
Consumer	—		—		1,585		—		—		1,585
Real estate	—		1,052		—		—		—		1,052
Other	37		170		70		172		—		449
Total Revenues	$	1,727	$	1,336	$	1,655	$	1,625	$	—	$	6,343

Schedule of Changes in the Deferred Revenue Balance

The following table presents changes in the deferred revenue balance for the three and nine months ended March 31, 2026 and 2025:


	For the three months ended March 31,				For the nine months ended March 31,
	2026		2025		2026		2025
	(in millions)
Balance, beginning of period	$	474	$	431	$	498	$	483
Deferral of revenue	904		807		2,527		2,404
Recognition of deferred revenue(a)	(815)		(740)		(2,460)		(2,385)
Other	(7)		3		(9)		(1)
Balance, end of period	$	556	$	501	$	556	$	501

(a)For the three and nine months ended March 31, 2026, the Company recognized $206 million and $449 million, respectively, of revenue which was included in the opening deferred revenue balance. For the three and nine months ended March 31, 2025, the Company recognized $178 million and $428 million, respectively, of revenue which was included in the opening deferred revenue balance.