AI English summary of an SEC filing — figures as filed

News Corp said it and Telstra Corporation Limited entered into a definitive agreement on December 22, 2024 to sell NXE Australia Pty Limited (Foxtel) to DAZN Group Limited. The company said it classified Foxtel's results as discontinued operations under ASC 205-20 beginning with the second quarter of fiscal 2025, Q2.

8-KResults of Operations and Financial ConditionFiled Feb 14, 2025Period of report Feb 14, 2025Summary published (UTC) Oct 8, 2026

Key points

AI summary

News Corp said it and Telstra Corporation Limited entered into a definitive agreement on December 22, 2024 to sell NXE Australia Pty Limited (Foxtel) to DAZN Group Limited. The company said it classified Foxtel's results as discontinued operations under ASC 205-20 beginning with the second quarter of fiscal 2025, Q2.
News Corp determined that the Subscription Video Services segment was no longer a reportable segment after reclassifying Foxtel's results, and it aggregated the segment's residual results into the News Media segment.
The company presented unaudited recast annual information showing Total Revenues of $8,252 million and Net income attributable to News Corporation stockholders of $266 million for the fiscal year ended June 30, 2024. For fiscal 2023, the figures were $8,012 million and $149 million, respectively.
The company presented unaudited recast quarterly information showing Total Revenues of $2,096 million, Net income from continuing operations of $149 million, and Net income attributable to News Corporation stockholders of $119 million for the three months ended September 30, 2024.

Summary

AI-written

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

Foxtel Sale Agreement and Discontinued Operations Classification

News Corp said it and Telstra Corporation Limited entered into a definitive agreement on December 22, 2024 to sell NXE Australia Pty Limited (Foxtel) to DAZN Group Limited. The company said it classified Foxtel's results as discontinued operations under ASC 205-20 beginning with the second quarter of fiscal 2025, Q2.

Source · Based on the filing body and exhibits

Subscription Video Services Excluded as Reportable Segment

News Corp determined that the Subscription Video Services segment was no longer a reportable segment after reclassifying Foxtel's results, and it aggregated the segment's residual results into the News Media segment.

Source · Based on the filing body and exhibits

Recast Annual Revenue and Net Income Attributable to Shareholders

The company presented unaudited recast annual information showing Total Revenues of $8,252 million and Net income attributable to News Corporation stockholders of $266 million for the fiscal year ended June 30, 2024. For fiscal 2023, the figures were $8,012 million and $149 million, respectively.

Source · Based on the filing body and exhibits

Recast Results for Fiscal 2025 Q1

The company presented unaudited recast quarterly information showing Total Revenues of $2,096 million, Net income from continuing operations of $149 million, and Net income attributable to News Corporation stockholders of $119 million for the three months ended September 30, 2024.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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