| Schedule of Changes in Equity |
The following tables summarize changes in equity for the three and nine months ended March 31, 2026 and 2025: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the three months ended March 31, 2026 | | 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, December 31, 2025 | 372 | | | $ | 4 | | | 186 | | | $ | 2 | | | $ | 10,809 | | | $ | (509) | | | $ | (1,514) | | | $ | 8,792 | | | $ | 670 | | | $ | 9,462 | | | | | | | | | | | | | | | | | | | | | | | Net income | — | | | — | | | — | | | — | | | — | | | 89 | | | — | | | 89 | | | 32 | | | 121 | | | Other comprehensive (loss) income | — | | | — | | | — | | | — | | | — | | | — | | | (23) | | | (23) | | | 17 | | | (6) | | | Dividends | — | | | — | | | — | | | — | | | (55) | | | — | | | — | | | (55) | | | (45) | | | (100) | | | News Corp share repurchases | (5) | | | — | | | (2) | | | — | | | (162) | | | (32) | | | — | | | (194) | | | — | | | (194) | | | Other | — | | | — | | | — | | | — | | | (25) | | | — | | | — | | | (25) | | | 23 | | | (2) | | | Balance, March 31, 2026 | 367 | | | $ | 4 | | | 184 | | | $ | 2 | | | $ | 10,567 | | | $ | (452) | | | $ | (1,537) | | | $ | 8,584 | | | $ | 697 | | | $ | 9,281 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the three months ended March 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, December 31, 2024 | 378 | | | $ | 4 | | | 189 | | | $ | 2 | | | $ | 11,141 | | | $ | (1,574) | | | $ | (1,424) | | | $ | 8,149 | | | $ | 876 | | | $ | 9,025 | | | | | | | | | | | | | | | | | | | | | | | Net income | — | | | — | | | — | | | — | | | — | | | 103 | | | — | | | 103 | | | 34 | | | 137 | | | Other comprehensive income | — | | | — | | | — | | | — | | | — | | | — | | | 32 | | | 32 | | | 10 | | | 42 | | | Dividends | — | | | — | | | — | | | — | | | (57) | | | — | | | — | | | (57) | | | (36) | | | (93) | | | News Corp share repurchases | (1) | | | — | | | — | | | — | | | (28) | | | (9) | | | — | | | (37) | | | — | | | (37) | | Other | — | | | — | | | — | | | — | | | 14 | | | (1) | | | — | | | 13 | | | (6) | | | 7 | | | Balance, March 31, 2025 | 377 | | | $ | 4 | | | 189 | | | $ | 2 | | | $ | 11,070 | | | $ | (1,481) | | | $ | (1,392) | | | $ | 8,203 | | | $ | 878 | | | $ | 9,081 | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the nine months ended March 31, 2026 | | 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 | — | | | — | | | — | | | — | | | — | | | 394 | | | — | | | 394 | | | 119 | | | 513 | | | Other comprehensive income | — | | | — | | | — | | | — | | | — | | | — | | | 6 | | | 6 | | | 37 | | | 43 | | | Dividends | — | | | — | | | — | | | — | | | (112) | | | — | | | — | | | (112) | | | (92) | | | (204) | | | News Corp share repurchases | (11) | | | — | | | (5) | | | — | | | (364) | | | (99) | | | — | | | (463) | | | — | | | (463) | | | Other | 1 | | | — | | | — | | | — | | | (15) | | | — | | | — | | | (15) | | | 18 | | | 3 | | | Balance, March 31, 2026 | 367 | | | $ | 4 | | | 184 | | | $ | 2 | | | $ | 10,567 | | | $ | (452) | | | $ | (1,537) | | | $ | 8,584 | | | $ | 697 | | | $ | 9,281 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the nine months ended March 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, 2024 | 379 | | | $ | 4 | | | 190 | | | $ | 2 | | | $ | 11,254 | | | $ | (1,889) | | | $ | (1,251) | | | $ | 8,120 | | | $ | 891 | | | $ | 9,011 | | | | | | | | | | | | | | | | | | | | | | | Net income | — | | | — | | | — | | | — | | | — | | | 437 | | | — | | | 437 | | | 127 | | | 564 | | | Other comprehensive loss | — | | | — | | | — | | | — | | | — | | | — | | | (141) | | | (141) | | | (64) | | | (205) | | | Dividends | — | | | — | | | — | | | — | | | (114) | | | — | | | — | | | (114) | | | (71) | | | (185) | | | News Corp share repurchases | (3) | | | — | | | (1) | | | — | | | (87) | | | (28) | | | — | | | (115) | | | — | | | (115) | | | Other | 1 | | | — | | | — | | | — | | | 17 | | | (1) | | | — | | | 16 | | | (5) | | | 11 | | | Balance, March 31, 2025 | 377 | | | $ | 4 | | | 189 | | | $ | 2 | | | $ | 11,070 | | | $ | (1,481) | | | $ | (1,392) | | | $ | 8,203 | | | $ | 878 | | | $ | 9,081 | |
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| 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 nine months ended March 31, 2026 and 2025: | | | | | | | | | | | | | | | | | | | | | | | | | For the three months ended March 31, | | 2026 | | 2025 | | Shares | | Amount | | Shares | | Amount | | (in millions) | Class A Common Stock | 5.1 | | | $ | 126 | | | 0.8 | | | $ | 24 | | Class B Common Stock | 2.4 | | | 67 | | | 0.4 | | | 13 | | Total | 7.5 | | | $ | 193 | | | 1.2 | | | $ | 37 | |
| | | | | | | | | | | | | | | | | | | | | | | | | For the nine months ended March 31, | | 2026 | | 2025 | | Shares | | Amount | | Shares | | Amount | | (in millions) | Class A Common Stock | 11.6 | | | $ | 303 | | | 2.7 | | | $ | 75 | | Class B Common Stock | 5.2 | | | 156 | | | 1.3 | | | 40 | | Total | 16.8 | | | $ | 459 | | | 4.0 | | | $ | 115 | |
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