News (NWS) 10-Q 8 May 20 2020 Q3 Quarterly report Financial data

Cover Page

Cover Page - $ / shares	9 Months Ended
	Mar. 31, 2020	Apr. 30, 2020	Jun. 30, 2019
Document Information [Line Items]
Document Type	10-Q
Entity Registrant Name	NEWS CORP
Amendment Flag	false
Entity Central Index Key	0001564708
Document Period End Date	Mar. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--06-30
Document Quarterly Report	true
Document Transition Report	false
Entity Filer Category	Large Accelerated Filer
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Incorporation, State or Country Code	DE
Entity File Number	001-35769
Entity Tax Identification Number	46-2950970
Local Phone Number	416-3400
Entity Address, City or Town	New York
Entity Address, Address Line One	1211 Avenue of the Americas
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10036
City Area Code	212
Common Class A [Member]
Document Information [Line Items]
Security Exchange Name	NASDAQ
Trading Symbol	NWSA
Title of 12(b) Security	Class A Common Stock
Entity Common Stock, Shares Outstanding		388,856,866
Common Stock, Par or Stated Value Per Share	$ 0.01		$ 0.01
Common Class B [Member]
Document Information [Line Items]
Security Exchange Name	NASDAQ
Trading Symbol	NWS
Title of 12(b) Security	Class B Common Stock
Entity Common Stock, Shares Outstanding		199,630,240
Common Stock, Par or Stated Value Per Share	$ 0.01		$ 0.01
Preferred Stock Class A [Member]
Document Information [Line Items]
Security Exchange Name	NASDAQ
No Trading Symbol Flag	true
Title of 12(b) Security	Class A Preferred Stock Purchase Rights
Preferred Stock Class B [Member]
Document Information [Line Items]
Security Exchange Name	NASDAQ
No Trading Symbol Flag	true
Title of 12(b) Security	Class B Preferred Stock Purchase Rights

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Revenues:
Total Revenues	$ 2,266	$ 2,457	$ 7,085	$ 7,608
Operating expenses	(1,281)	(1,400)	(3,968)	(4,224)
Selling, general and administrative	(743)	(810)	(2,299)	(2,409)
Depreciation and amortization	(160)	(168)	(484)	(494)
Impairment and restructuring charges	(1,125)	(34)	(1,451)	(71)
Equity losses of affiliates	(7)	(4)	(12)	(13)
Interest expense , net	(9)	(14)	(13)	(45)
Other, net	13	3	19	30
(Loss) income before income tax benefit (expense)	(1,046)	30	(1,123)	382
Income tax benefit (expense)	10	(7)	(21)	(112)
Net (loss) income	(1,036)	23	(1,144)	270
Less: Net loss (income) attributable to noncontrolling interests	306	(13)	272	(64)
Net (loss) income attributable to News Corporation stockholders	$ (730)	$ 10	$ (872)	$ 206
Net (loss) income attributable to News Corporation stockholders per share:
Basic and diluted	$ (1.24)	$ 0.02	$ (1.48)	$ 0.35
Circulation and Subscription [Member]
Revenues:
Total Revenues	$ 966	$ 1,025	$ 2,951	$ 3,088
Advertising [Member]
Revenues:
Total Revenues	576	670	1,861	2,052
Consumer [Member]
Revenues:
Total Revenues	396	403	1,204	1,281
Real estate [Member]
Revenues:
Total Revenues	209	218	669	693
Other [Member]
Revenues:
Total Revenues	$ 119	$ 141	$ 400	$ 494

Consolidated Statements of Comp

Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Statement of Comprehensive Income [Abstract]
Net (loss) income		$ (1,036)	$ 23	$ (1,144)	$ 270
Other comprehensive (loss) income:
Foreign currency translation adjustments		(484)	75	(470)	(182)
Net change in the fair value of cash flow hedges	[1]	9	(5)	(5)	2
Benefit plan adjustments, net	[2]	15	(3)	13	10
Other comprehensive (loss) income		(460)	67	(462)	(170)
Comprehensive (loss) income		(1,496)	90	(1,606)	100
Less: Net loss (income) attributable to noncontrolling interests		306	(13)	272	(64)
Less: Other comprehensive loss (income) attributable to noncontrolling interests		109	(10)	118	46
Comprehensive (loss) income attributable to News Corporation stockholders		$ (1,081)	$ 67	$ (1,216)	$ 82
[1]	Net of income tax expense of $3 million and nil for the three months ended March 31, 2020 and 2019, respectively, and income tax expense of nil and $1 million for the nine months ended March 31, 2020 and 2019, respectively.
[2]	Net of income tax expense (benefit) of $5 million and ($1) million for the three months ended March 31, 2020 and 2019, respectively, and income tax expense of $4 million and $2 million for the nine months ended March 31, 2020 and 2019, respectively.

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive (Loss) Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Statement of Comprehensive Income [Abstract]
Net change in the fair value of cash flow hedges, income tax expense	$ 3	$ 0	$ 0	$ 1
Benefit plan adjustments, income tax expense (benefit)	$ 5	$ (1)	$ 4	$ 2

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions		Mar. 31, 2020	Jun. 30, 2019
Current assets:
Cash and cash equivalents		$ 1,388	$ 1,643
Receivables, net		1,237	1,544
Inventory, net		363	348
Other current assets		753	515
Total current assets		3,741	4,050
Non-current assets:
Investments		325	335
Property, plant and equipment, net		2,225	2,554
Operating lease right-of-use assets		1,191	0
Intangible assets, net		1,846	2,426
Goodwill		3,831	5,147
Deferred income tax assets		306	269
Other non-current assets		963	930
Total assets		14,428	15,711
Current liabilities:
Accounts payable		342	411
Accrued expenses		981	1,328
Deferred revenue		387	428
Current borrowings	[1]	0	449
Other current liabilities		979	724
Total current liabilities		2,689	3,340
Non-current liabilities:
Borrowings		1,115	1,004
Retirement benefit obligations		248	266
Deferred income tax liabilities		238	295
Operating lease liabilities		1,249	0
Other non-current liabilities		321	495
Commitments and contingencies
Additional paid-in capital		12,137	12,243
Accumulated deficit		(2,845)	(1,979)
Accumulated other comprehensive loss		(1,466)	(1,126)
Total News Corporation stockholders' equity		7,832	9,144
Noncontrolling interests		736	1,167
Total equity		8,568	10,311
Total liabilities and equity		14,428	15,711
Class A Common Stock [Member]
Non-current liabilities:
Common stock	[2]	4	4
Class B Common Stock [Member]
Non-current liabilities:
Common stock	[3]	$ 2	$ 2
[1]	The Company classifies the current portion of long term debt as non-current liabilities on the Balance Sheets when it has the intent and ability to refinance the obligation on a long-term basis, in accordance with ASC 470-50, “Debt.”
[2]	Class A common stock, $0.01 par value per share (“Class A Common Stock”), 1,500,000,000 shares authorized, 388,843,519 and 385,580,015 shares issued and outstanding, net of 27,368,413 treasury shares at par at March 31, 2020 and June 30, 2019, respectively.
[3]	Class B common stock, $0.01 par value per share (“Class B Common Stock”), 750,000,000 shares authorized, 199,630,240 shares issued and outstanding, net of 78,430,424 treasury shares at par at March 31, 2020 and June 30, 2019, respectively

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2020	Jun. 30, 2019
Class A Common Stock [Member]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	1,500,000,000	1,500,000,000
Common stock, shares issued, net of treasury stock	388,843,519	385,580,015
Common stock outstanding, net of treasury stock	388,843,519	385,580,015
Common stock, treasury shares	27,368,413	27,368,413
Class B Common Stock [Member]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	750,000,000	750,000,000
Common stock, shares issued, net of treasury stock	199,630,240	199,630,240
Common stock outstanding, net of treasury stock	199,630,240	199,630,240
Common stock, treasury shares	78,430,424	78,430,424

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Operating activities:
Net (loss) income	$ (1,144)	$ 270
Adjustments to reconcile net (loss) income to cash provided by operating activities:
Depreciation and amortization	484	494
Operating lease expense	128	0
Equity losses of affiliates	12	13
Cash distributions received from affiliates	7	30
Impairment charges	1,398	9
Other, net	(19)	(30)
Deferred income taxes and taxes payable	(67)	22
Change in operating assets and liabilities, net of acquisitions:
Receivables and other assets	(1,593)	37
Inventories, net	(47)	(74)
Accounts payable and other liabilities	1,303	(110)
Net cash provided by operating activities	462	661
Investing activities:
Capital expenditures	(335)	(417)
Acquisitions, net of cash acquired	(2)	(187)
Investments in equity affiliates and other	4	(36)
Proceeds from business dispositions	(7)	50
Proceeds from property, plant and equipment and other asset dispositions	10	49
Other, net	3	18
Net cash used in investing activities	(327)	(523)
Financing activities:
Borrowings	925	450
Repayment of borrowings	(1,161)	(801)
Dividends paid	(100)	(102)
Other, net	(5)	(48)
Net cash used in financing activities	(341)	(501)
Net change in cash and cash equivalents, including cash classified within current assets held for sale	(206)	(363)
Less: Net change in cash classified within current assets held for sale	(10)	0
Cash and cash equivalents, beginning of period	1,643	2,034
Exchange movement on opening cash balance	(39)	(23)
Cash and cash equivalents, end of period	$ 1,388	$ 1,648

Description of Business and Bas

Description of Business and Basis of Presentation	9 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Description of Business and Basis of Presentation	NOTE 1. DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION News Corporation (together with its subsidiaries, “News Corporation,” “News Corp,” the “Company,” “we,” or “us”) is a global diversified media and information services company comprised of businesses across a range of media, including: news and information services, subscription video services in Australia, book publishing and digital real estate services. Basis of Presentation The accompanying unaudited consolidated financial statements of the Company, which are referred to herein as the “Consolidated Financial Statements,” have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q S-X. (“COVID-19”) Intercompany transactions and balances have been eliminated. Equity investments in which the Company exercises significant influence but does not exercise control and is not the primary beneficiary are accounted for using the equity method. Investments in which the Company is not able to exercise significant influence over the investee are measured at fair value, if the fair value is readily determinable. If an investment’s fair value is not readily determinable, the Company will measure the investment at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for an identical or similar investment of the same issuer. The consolidated statements of operations are referred to herein as the “Statements of Operations.” The consolidated balance sheets are referred to herein as the “Balance Sheets.” The consolidated statements of cash flows are referred to herein as the “Statements of Cash Flows.” The accompanying Consolidated Financial Statements and notes thereto should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K 10-K”). Certain reclassifications have been made to the prior period consolidated financial statements to conform to the current year presentation. Specifically, the Company reclassified the costs associated with certain initiatives previously included within the Other segment to the News and Information Services and Digital Real Estate Services segments as these initiatives directly benefit these segments. For the three and nine months ended March 31, 2019, these reclassifications increased Selling, general and administrative by $8 million and $23 million, respectively, for the News and Information Services segment and by $1 million in both periods for the Digital Real Estate Services segment. The Company’s fiscal year ends on the Sunday closest to June 30. Fiscal 2020 and fiscal 2019 include 52 weeks Recently Issued Accounting Pronouncements Adopted In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-02, 2016-02”). 2016-02 right-of-use guidance, and have the same effective date as ASU 2016-02. 2016-02 right-of-use The Company also recorded a $9 million adjustment related to previous sale leaseback transactions, which decreased the Accumulated deficit balance as of July 1, 2019. The Company’s adoption of ASU 2016-02 right-of-use In August 2017, the FASB issued ASU 2017-12, 2017-12”). 2017-12 2017-12 In February 2018, the FASB issued ASU 2018-02, 2018-02”). 2018-02 2018-02 In April 2019, the FASB issued ASU 2019-04, 2019-04”). 2019-04 2017-12, 2019-04 2017-12. 2016-01, 825-10): 2016-01”), 2019-04 2016-13 2019-04 2017-12 2016-01 Issued In June 2016, the FASB issued ASU 2016-13, 2016-13”). 2016-13 2016-13 2016-13 In August 2018, the FASB issued ASU 2018-13, 2018-13”). 2018-13 2018-13 2018-13 2018-13 2018-13 In March 2019, the FASB issued ASU 2019-02, 926-20) 920-350): 2019-02”). 2019-02 920-350) 926-20). 2019-02 2019-02 In December 2019, the FASB issued ASU 2019-12, 2019-12”). 2019-12 year-to-date 2019-12 2019-12

Revenues

Revenues	9 Months Ended
	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenues	NOTE 2. REVENUES The following tables present the Company’s disaggregated revenues for the three and nine months ended March 31, 2020 and 2019: For the three months ended March 31, 2020 News and Subscription Book Digital Real Other Total (in millions) Revenues: Circulation and subscription $ 543 $ 414 $ — $ 9 $ — $ 966 Advertising 511 40 — 25 — 576 Consumer — — 396 — — 396 Real estate — — — 209 — 209 Other 76 8 16 18 1 119 Total Revenues $ 1,130 $ 462 $ 412 $ 261 $ 1 $ 2,266 For the three months ended March 31, 2019 News and Subscription Book Digital Real Other Total (in millions) Revenues: Circulation and subscription $ 538 $ 474 $ — $ 12 $ 1 $ 1,025 Advertising 593 50 — 27 — 670 Consumer — — 403 — — 403 Real estate — — — 218 — 218 Other 93 15 18 15 — 141 Total Revenues $ 1,224 $ 539 $ 421 $ 272 $ 1 $ 2,457 For the nine months ended March 31, 2020 News and Subscription Book Digital Real Other Total (in millions) Revenues: Circulation and subscription $ 1,618 $ 1,304 $ — $ 28 $ 1 $ 2,951 Advertising 1,640 144 — 77 — 1,861 Consumer — — 1,204 — — 1,204 Real estate — — — 669 — 669 Other 262 29 55 53 1 400 Total Revenues $ 3,520 $ 1,477 $ 1,259 $ 827 $ 2 $ 7,085 Contract liabilities and assets The Company’s deferred revenue balance primarily relates to amounts received from customers for subscriptions paid in advance of the services being provided. The following table presents changes in the deferred revenue balance for the three and nine months ended March 31, 2020 and 2019: For the three months For the nine months March 31, 2020 2019 2020 2019 Balance, beginning of period $ 411 $ 430 $ 428 $ 510 Deferral of revenue 851 934 2,426 2,271 Recognition of deferred revenue (a) (807 ) (883 ) (2,398 ) (2,300 ) Other (b) (68 ) (21 ) (69 ) (21 ) Balance, end of period $ 387 $ 460 $ 387 $ 460 (a) For the three and nine months ended March 31, 2020, the Company recognized approximately $226 million and $371 million, respectively, of revenue which was included in the opening deferred revenue balance. For the three and nine months ended March 31, 2019, the Company recognized $241 million and $461 million, respectively, of revenue which was included in the opening deferred revenue balance. (b) For the three and nine months ended March 31, 2020, the Company reclassified $46 million of deferred revenue to Other current liabilities in connection with the sale of News America Marketing. See Note 3—Acquisitions, Disposals and Other Transactions. Contract assets were immaterial for disclosure as of March 31, 2020 and 2019. Other revenue disclosures The Company typically expenses sales commissions incurred to obtain a customer contract as those amounts are incurred as the amortization period is twelve months or less. These costs are recorded within Selling, general and administrative in the Statements of Operations. The Company also does not capitalize significant financing components when the transfer of the good or service is paid within twelve months or less, or the receipt of consideration is received within twelve months or less of the transfer of the good or service. For the three and nine months ended March 31, 2020, the Company recognized approximately $68 million and $222 million, respectively, in revenues related to performance obligations that were satisfied or partially satisfied in a prior reporting period. The remaining transaction price related to unsatisfied performance obligations as of March 31, 2020 was approximately $514 million, of which approximately $55 million is expected to be recognized over the remainder of fiscal 2020, approximately $206 million is expected to be recognized in fiscal 2021, approximately $102 million is expected to be recognized in fiscal 2022, and approximately $37 million is expected to be recognized in fiscal 2023, with the remainder to be recognized thereafter. These amounts do not include (i) contracts with an expected duration of one year or less, (ii) contracts for which variable consideration is determined based on the customer’s subsequent sale or usage and (iii) variable consideration allocated to performance obligations accounted for under the series guidance that meets the allocation objective under ASC 606, “Revenue From Contracts With Customers”.

Acquisitions, Disposals and Oth

Acquisitions, Disposals and Other Transactions	9 Months Ended
	Mar. 31, 2020
Business Combinations [Abstract]
Acquisitions, Disposals and Other Transactions	NOTE 3. ACQUISITIONS, DISPOSALS AND OTHER TRANSACTIONS News America Marketing On March 31, 2020, the Company entered into a definitive agreement for the sale of its News America Marketing business, a reporting unit within its News and Information Services segment (the “Transaction”), which was completed on May 5, 2020. The aggregate purchase price for the Transaction consists of (a) up to approximately $235 million, comprised of (i) $50 million in cash at closing, subject to working capital and other adjustments, less cash reinvested to acquire a 5% equity interest in the business at closing, and (ii) additional deferred cash payments payable on or before the fifth anniversary of closing in an aggregate amount of between $125 million and approximately $185 million, depending on the timing of such payments, and (b) a warrant to purchase up to an additional 10% equity interest in the business, which is exercisable on or prior to the seventh anniversary of closing. In the Transaction, the Company retained certain liabilities relating to News America Marketing, including those arising from its ongoing legal proceedings with Valassis Communications, Inc. (“Valassis”) and Insignia Systems, Inc. (“Insignia”). See Note 11—Commitments and Contingencies. As a result of the progression of the sales process, the Company determined that the News America Marketing reporting unit met all of the criteria to be classified as held for sale as of March 31, 2020. Upon classification of the disposal group as held for sale, the Company tested the disposal group for impairment and recognized an impairment charge of $175 million within Impairment and restructuring charges in its Statements of Operations for the three and nine months ended March 31, 2020 to write the disposal group down to its fair value less costs to sell. See Note 4—Impairment and Restructuring Charges. The major classes of assets and liabilities held for sale, which are included in Other current assets and Other current liabilities, respectively, in the Balance Sheets, were as follows: As of March 31, 2020 (in millions) Cash and cash equivalents $ 10 Receivables, net 217 Other current assets 28 Intangible assets, net 225 Other non-current assets 29 Impairment charge on disposal group (175 ) Total assets held for sale $ 334 Accounts payable $ 13 Accrued expenses 69 Deferred revenue 46 Other current liabilities 54 Other non-current liabilities 8 Total liabilities held for sale $ 190 Loss income before income tax was $29 million and $46 million for the three and nine months ended March 31, 2019, respectively. Unruly In January 2020, the Company sold Unruly to Tremor International Ltd (“Tremor”) for approximately 7% of Tremor’s outstanding shares. The Company agreed not to sell the Tremor shares for a period of 18 months after closing. At closing, the Company and Tremor entered into a three year commercial arrangement which granted Tremor the exclusive right to sell outstream video advertising on all of the Company’s digital properties in exchange for a total minimum revenue guarantee for News Corp of £30 million.

Impairment and Restructuring Ch

Impairment and Restructuring Charges	9 Months Ended
	Mar. 31, 2020
Restructuring and Related Activities [Abstract]
Impairment and Restructuring Charges	NOTE 4. IMPAIRMENT AND RESTRUCTURING CHARGES Fiscal 2020 Impairment During the three and nine months ended March 31, 2020, the Company recognized non-cash and News America Marketing reporting units . Foxtel: non-cash COVID-19 over-the-top, or OTT , non-cash charges of $882 million to goodwill and $49 million to indefinite-lived intangible assets. The assumptions utilized in the income approach valuation method for Foxtel were discount rates ranging from 10.5% to 11.5%, long-term growth rates of 2.0% and a royalty rate of 1.5%. The assumptions utilized in the market approach valuation methods were EBITDA multiples from guideline public companies operating in similar industries and a control premium of 10%. News America Marketing: non-cash on the disposal group as a result of the reclassification of its News America Marketing reporting unit to assets held for sale. See Note 3—Acquisitions, Disposals and Other Transactions. During the nine months ended March 31, 2020, in addition to the write-down to fair value less costs to sell, the Company recognized non-cash non-cash charges of $122 million to goodwill and $113 million to indefinite-lived intangible assets. The assumptions utilized in the income approach valuation method for News America Marketing were discount rates ranging from 17.0% to 18.5% and long-term growth rates ranging from 0.6% to 1.5%. Fiscal 2020 Restructuring During the three and nine months ended March 31, 2020, the Company recorded restructuring charges of $19 million and $53 million, respectively, of which $15 million and $41 million, respectively, related to the News and Information Services segment. The restructuring charges recorded in fiscal 2020 were for employee termination benefits. Fiscal 2019 Restructuring During the three and nine months ended March 31, 2019, the Company recorded restructuring charges of $25 million and $62 million, respectively, of which $23 million and $55 million, respectively, related to the News and Information Services segment. The restructuring charges recorded in fiscal 2019 were for employee termination benefits. Changes in restructuring program liabilities were as follows: For the three months ended March 31, 2020 2019 One time One time employee Facility employee Facility termination related termination related benefits costs Other costs Total benefits costs Other costs Total (in millions) Balance, beginning of period $ 16 $ — $ 9 $ 25 $ 20 $ 2 $ 11 $ 33 Additions 19 — — 19 25 — — 25 Payments (17 ) — — (17 ) (17 ) — (1 ) (18 ) Balance, end of period $ 18 $ — $ 9 $ 27 $ 28 $ 2 $ 10 $ 40 For the nine months ended March 31, 2020 2019 One time One time employee Facility employee Facility termination related termination related benefits costs Other costs Total benefits costs Other costs Total (in millions) Balance, beginning of period $ 28 $ 2 $ 10 $ 40 $ 29 $ 2 $ 11 $ 42 Additions 53 — — 53 62 — — 62 Payments (63 ) — (1 ) (64 ) (61 ) — (2 ) (63 ) Other — (2 ) — (2 ) (2 ) — 1 (1 ) Balance, end of period $ 18 $ — $ 9 $ 27 $ 28 $ 2 $ 10 $ 40 As of March 31, 2020, restructuring liabilities of approximately $18 million were included in the Balance Sheet in Other current liabilities and $9 million were included in Other non-current

Investments

Investments	9 Months Ended
	Mar. 31, 2020
Schedule of Investments [Abstract]
Investments	NOTE 5 The Company’s investments were comprised of the following: Ownership As of As of (in millions) Equity method investments (a) various $ 146 $ 148 Equity securities (b) various 179 187 Total Investments $ 325 $ 335 (a) Equity method investments are primarily comprised of Foxtel’s investment in Nickelodeon Australia Joint Venture, Elara Technologies Pte. Ltd. (“Elara”), which operates PropTiger.com and Housing.com, and REA Group’s investment in 99.co Joint Venture. (b) Equity securities are primarily comprised of certain investments in China, the Company’s investment in HT&E Limited, which operates a portfolio of Australian radio and outdoor media assets, and the Company’s investment in Tremor. The Company has equity securities with quoted prices in active markets as well as equity securities without readily determinable fair market values. Equity securities without readily determinable fair market values are valued at cost, less any impairment, plus or minus changes in fair value resulting from observable price changes in orderly transactions for an identical or similar investment of the same issuer. The components comprising total gains and losses on equity securities are set forth below: For the three months For the nine months 2020 2019 2020 2019 (in millions) (in millions) Total ( ) gains $ (17 ) $ 6 $ (22 ) $ (23 ) Less: Net gains recognized on equity securities sold — — — — Unrealized ( ) gains $ (17 ) $ 6 $ (22 ) $ (23 ) Equity Losses of Affiliates The Company’s share of the losses of its equity affiliates was $7 million and $12 million for the three and nine months ended March 31, 2020, respectively, and $4 million and $13 million, respectively ,

Borrowings

Borrowings	9 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Borrowings	NOTE 6. BORROWINGS The Company’s total borrowings consist of the following: Interest rate Maturity at 2020 As of March 31, As of June 30, 2019 (in millions) Foxtel Group Credit facility 2014 — tranche 2 (a) — Jan 31, 2020 $ — $ 56 Credit facility 2015 (a) — Jul 31, 2020 — 281 Credit facility 2016 (a) — Sept 11, 2021 — 193 Credit facility 2019 (b) (c) 3.79 % Nov 22, 2022 376 — Term loan facility 2019 (d) 6.25 % Nov 22, 2024 154 — Working capital facility 201 7 (a) (c) (e) (f) 3.79 % Nov 22, 2022 18 56 Telstra F acility (g) 8.23 % Dec 22, 2027 — — US private placement 2009 — tranche 3 (h) — Sept 24, 2019 — 75 US private placement 2012 — USD portion — tranche 1 (h) — Jul 25, 2019 — 150 US private placement 2012 — USD portion — tranche 2 (i) 4.27 % Jul 25, 2022 201 199 US private placement 2012 — USD portion — tranche 3 (i) 4.42 % Jul 25, 2024 152 149 US private placement 2012 — AUD portion 7.04 % Jul 25, 2022 66 77 REA Group Credit facility 2016 — tranche 3 (j) — Dec 31, 2019 — 168 Credit facility 2018 (k) 1.82 % Apr 27, 2021 43 49 Credit facility 2019 (k) (l) 1.66 % Dec 2, 2021 105 — Total borrowings (m) 1,115 1,453 Less: current portion (n) — (449 ) Long-term borrowings $ 1,115 $ 1,004 (a) During November 2019, certain subsidiaries of NXE Australia Pty Limited (“Foxtel” and together with such subsidiaries, the “Foxtel Debt Group”) repaid the outstanding borrowings under these facilities using a combination of new indebtedness and an A$200 million shareholder loan provided by the Company. (b) During November 2019, the Foxtel Debt Group entered into an A$610 million revolving credit facility maturing in November 2022 (c) Borrowings under these facilities bear interest at a floating rate of the Australian BBSY plus an applicable margin of between 2.00% and 3.75% per annum depending on the Foxtel Debt Group’s net leverage ratio. (d) During November 2019, the Foxtel Debt Group entered into an A$250 million term loan facility maturing in November 2024 (e) During November 2019, the Foxtel Debt Group amended its 2017 Working Capital Facility which, among other things, extended the remaining term to three years, decreased the capacity under the facility from A$100 million to A$40 million and increased the applicable margin. (f) As of March 31, 2020, the Foxtel Debt Group has undrawn commitments of A$2 million (g) In February 2020, the Foxtel Debt Group entered into an A$170 (h) During the first quarter of fiscal 2020, the Foxtel Debt Group repaid $150 July 2019 September 2019 (i) The carrying values of the borrowings include any fair value adjustments related to the Company’s fair value hedges. See Note 9 —Financial Instruments and Fair Value Measurements. (j) During December 2019, REA Group repaid the final A$240 million tranche of its A$480 million revolving loan facility using a combination of cash on hand and new indebtedness. ( k ) Borrowings under these facilities bear interest at a floating rate of the Australian BBSY plus a margin of between 0.85% and 1.40% depending on REA Group’s net leverage ratio. ( l ) During December 2019, REA Group entered into an A$170 million unsecured syndicated revolving loan facility maturing in December 2021 (m) The Company’s outstanding borrowings as of March 31, 2020 were incurred by Foxtel and REA Group, consolidated but non wholly-owned subsidiaries of News Corp. These borrowings are only guaranteed by Foxtel and REA Group and their respective subsidiaries, as applicable, and are non-recourse (n) The Company classifies the current portion of long term debt as non-current 470-50, Foxtel Group Borrowings In November 2019, the Foxtel Debt Group completed a debt refinancing resulting in the repayment of A$1.1 billion of debt capacity consisting of its A$200 million credit facility maturing in January 2020 July 2020 Borrowings under the 2019 Credit Facility bear interest at a floating rate of the Australian BBSY plus an applicable margin of between 2.00% and 3.75% per annum depending on the Foxtel Debt Group’s net leverage ratio and carry a commitment fee of 45% of the applicable margin on any undrawn balance. Borrowings under the 2019 Term Loan Facility bear interest at a fixed rate of 6.25%. As of March The agreements governing the 2019 Credit Facility and 2019 Term Loan Facility contain customary affirmative and negative covenants and events of default, with customary exceptions, including covenants restricting or prohibiting members of the Foxtel Debt Group from, among other things, undertaking certain transactions, disposing of certain properties or assets, merging or consolidating with any other person, making financial accommodation available, giving guarantees, creating or permitting certain liens and undergoing fundamental business changes. In addition, the agreements require the Foxtel Debt Group to maintain a ratio of net debt to Earnings Before Interest, Tax, Depreciation and Amortization (“EBITDA”), as adjusted under the applicable agreements, of not more than 3.75 to 1.0 for fiscal 2020, not more than 3.50 to 1.0 for fiscal 2021 and not more than 3.25 to 1.0 for fiscal 2022 and thereafter. The 2019 Credit Facility and the 2019 Term Loan Facility require the Foxtel Debt Group to maintain a net interest coverage ratio of not less than 3.5 to 1.0. T under the 2019 Credit Facility and 2019 Term Loan Facility . In February 2020, the Foxtel Debt Group entered into the Telstra Facility with Telstra, an Australian Securities Exchange (“ASX”)-listed telecommunications company which owns a 35% interest in Foxtel. The Telstra Facility provides Foxtel with up to A$170 million that can be used to finance cable transmission costs due to Telstra under a services arrangement between Foxtel and Telstra. The Telstra Facility bears interest at a variable rate of the Australian BBSY plus an applicable margin of 7.75% and matures in December 2027 REA Group Facilities In December 2019, REA Group completed a debt refinancing in which it repaid the final A$240 million tranche of its A$480 million revolving loan facility with the proceeds of the new 2019 REA Group Credit Facility and cash on hand. Prior to the SFA Amendment (defined below) in April 2020, borrowings under the 2019 REA Group Credit Facility bore interest at a rate of the Australian BBSY plus a margin of between 0.85% and 1.30% depending on REA Group’s net leverage ratio and carried a commitment fee of 40% of the applicable margin on any undrawn balance. As of March 31, 2020, REA Group had drawn down the full A$170 million available under the 2019 REA Group Credit Facility. In April 2020, REA Group amended the syndicated facility agreement for the 2019 REA Group Credit Facility (the “SFA Amendment”) to add a new A$148.5 The SFA Amendment also amended the applicable margin and commitment fee for the 2019 REA Group Credit Facility. The applicable margin is now 0.85% to 2.00% depending on REA Group’s net leverage ratio, and REA Group will pay a commitment fee of 50% of the applicable margin. The SFA Amendment requires REA Group to maintain (i) a net leverage ratio of not more than 3.25 to 1.0 prior to December 31, 2020 and a net leverage ratio of not more than 4.00 to 1.0 thereafter and (ii) a net interest coverage ratio of not less than 3.0 to 1.0. The terms of the 2018 REA Group Credit Facility were also amended to align the financial covenants to the SFA Amendment. The SFA Amendment further provides that REA Group will be restricted from paying dividends if its net leverage ratio exceeds 3.25 to 1.0 and will be required to maintain an aggregate of A$50 million in cash and undrawn commitments under its credit facilities. REA Group also entered into a new A$20 million overdraft facility (the “2020 Overdraft Facility”) in April 2020. The 2020 Overdraft Facility is an uncommitted facility that will be reviewed annually by the lender and bears interest at a rate based on the lender’s benchmark borrowing rate less a discount of 4.22%. The 2020 Overdraft Facility carries an annual facility fee of 0.15% of the A$20 million overdraft limit. News Corp Revolving Credit Facility In December 2019, the Company terminated its existing unsecured $650 million revolving credit facility, and entered into a new credit agreement (the “2019 Credit Agreement”) which provides for an unsecured $750 million revolving credit facility (the “2019 News Corp Credit Facility”) that can be used for general corporate purposes. The 2019 News Corp Credit Facility has a sublimit of $100 million available for issuances of letters of credit. Under the 2019 Credit Agreement, the Company may request increases in the amount of the facility up to a maximum amount of $1 billion. The lenders’ commitments to make the 2019 News Corp Credit Facility available terminate on December 12, 2024, and the Company may request that the commitments be extended under certain circumstances for up to two additional one-year Interest on borrowings under the 2019 News Corp Credit Facility is based on either (a) a Eurodollar Rate formula or (b) the Base Rate formula, each as set forth in the 2019 Credit agreement. The applicable margin and the commitment fee are based on the pricing grid in the 2019 Credit Agreement, which varies based on the Company’s adjusted operating income net leverage ratio. As of March 31, 2020, the Company was paying a commitment fee of 0.20% on any undrawn balance and an applicable margin of 0.375% for a Base Rate borrowing and 1.375% for a Eurodollar Rate borrowing. As of March 31, 2020, the Company has not borrowed any funds under the 2019 News Corp Credit Facility. The 2019 Credit Agreement contains certain customary affirmative and negative covenants and events of default with customary exceptions, including limitations on the ability of the Company and the Company’s subsidiaries to engage in transactions with affiliates, incur liens, merge into or consolidate with any other entity, incur subsidiary debt or dispose of all or substantially all of its assets or all or substantially all of the stock of all subsidiaries taken as a whole. In addition, the 2019 Credit Agreement requires the Company to maintain an adjusted operating income net leverage ratio of not more than 3.0 to 1.0, subject to certain adjustments following a material acquisition, and a net interest coverage ratio of not less than 3.0 to 1.0. Covenants The Company’s borrowings contain customary representations, covenants, and events of default, including those discussed above. If any of the events of default occur and are not cured within applicable grace periods or waived, any unpaid amounts under the Company’s debt agreements may be declared immediately due and payable. The Company was in compliance with all such covenants at March 31, 2020.

Leases

Leases	9 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Leases	NOTE 7. LEASES On July 1, 2019, the Company adopted ASU 2016-02 2016-02 right-of-use right-of-use right-of-use The Company assesses whether an arrangement is a lease or contains a lease at inception. For arrangements considered leases or that contain a lease that is accounted for separately, the classification and initial measurement of the right-of-use right-of-use right-of-use Rent expense is recognized for operating leases on a straight-line basis over the lease term. Such amounts are presented within either Selling, general and administrative or Operating expenses in the Statement of Operations based on the nature of the lease. Variable lease payments are expensed in the period incurred. The Company’s variable lease payments consist of payments dependent on various external indicators, including common area maintenance, real estate taxes and utility charges. The Company applied the package of practical expedients permitted under ASU 2016-02 In addition, the Company elected to apply the short term lease exemption to not record leases on the Balance Sheet that have a term of 12 months or less and do not contain purchase options reasonably certain of being exercised. The Company recognizes rent expense related to these leases on a straight-line basis over the lease term. In circumstances where the Company is the lessee, the Company elected to account for lease and non-lease set-top non-lease non-lease 2014-09. Summary of leases The Company primarily leases real estate, including office space, warehouse space and printing facilities. It also leases satellite transponders for purposes of providing its subscription video service to consumers. These leases were determined to be operating leases in accordance with ASU 2016-02. Certain of the Company’s leases include rent adjustments which may be indexed to various metrics, including the consumer price index or other inflationary indexes. As a general matter, the Company’s real estate lease arrangements typically require adjustments resulting from changes in real estate taxes and other costs to operate the leased asset. Other required lease disclosures The total lease cost for operating leases included in the Statement of Operations was as follows: For the For the three months ended nine months ended March 31, March 31, Income Statement Location 2020 2020 (in millions) Operating lease costs Selling, general and administrative $ 50 $ 149 Operating lease costs Operating expenses 1 7 Short term lease costs Operating expenses 2 7 Variable lease costs Selling, general and administrative 10 29 Total lease costs $ 63 $ 192 Additional information related to the Company’s operating leases under ASU 2016-02: As of March 31, 2020 Weighted-average remaining lease term 11.3 years Weighted-average incremental borrowing rate 3.27 % For the nine months ended March 31, 2020 (in millions) Cash paid - Operating lease liabilities $ 175 Operating lease right-of-use $ 225 Future minimum lease payments under non-cancellable As of March 31, 2020 (in millions) Fiscal 2020 (three months remaining) $ 54 Fiscal 2021 190 Fiscal 2022 193 Fiscal 2023 182 Fiscal 2024 168 Thereafter 935 Total future minimum lease payments 1,722 Less: interest 317 Present value of minimum payments $ 1,405

Equity

Equity	9 Months Ended
	Mar. 31, 2020
Stockholders' Equity Note [Abstract]
Equity	NOTE 8. EQUITY The following tables summarize changes in equity for the three and nine months ended March 31, 2020 and 2019: For the three months ended March 31, 2020 Accumulated Class A Class B Additional Other Total Common Stock Common Stock Paid-in Accumulated Comprehensive News Corp Non-controlling Total Shares Amount Shares Amount Capital Deficit Loss Equity Interests Equity (in millions) Balance, December 31, 389 $ 4 200 $ 2 $ 12,183 $ (2,114 ) $ (1,117 ) $ 8,958 $ 1,169 $ 10,127 Net loss — — — — — (730 ) — (730 ) (306 ) (1,036 ) Other comprehensive loss — — — — — — (351 ) (351 ) (109 ) (460 ) Dividends — — — — (59 ) — — (59 ) (19 ) (78 ) Other — — — — 13 (1 ) 2 14 1 15 Balance, March 31, 2020 389 $ 4 200 $ 2 $ 12,137 $ (2,845 ) $ (1,466 ) $ 7,832 $ 736 $ 8,568 For the three months ended March 31, 2019 Accumulated Class A Class B Additional Other Total Common Stock Common Stock Paid-in Accumulated Comprehensive News Corp Non-controlling Total Shares Amount Shares Amount Capital Deficit Loss Equity Interests Equity (in millions) Balance, December 31, 2018 385 $ 4 200 $ 2 $ 12,271 $ (1,937 ) $ (1,076 ) $ 9,264 $ 1,170 $ 10,434 Net income — — — — — 10 — 10 13 23 Other comprehensive income — — — — — — 57 57 10 67 Dividends — — — — (58 ) — — (58 ) (20 ) (78 ) Other — — — — 16 — — 16 (4 ) 12 Balance, March 31, 2019 385 $ 4 200 $ 2 $ 12,229 $ (1,927 ) $ (1,019 ) $ 9,289 $ 1,169 $ 10,458 For the nine months ended March 31, 2020 Accumulated Class A Class B Additional Other Total News Common Stock Common Stock Paid-in Accumulated Comprehensive Corp Non-controlling Total Shares Amount Shares Amount Capital Deficit Loss Equity Interests Equity (in millions) Balance, June 30, 2019 386 $ 4 200 $ 2 $ 12,243 $ (1,979 ) $ (1,126 ) $ 9,144 $ 1,167 $ 10,311 Cumulative impact from adoption of new standards — — — — — 6 3 9 — 9 Net loss — — — — — (872 ) — (872 ) (272 ) (1,144 ) Other comprehensive loss — — — — — — (344 ) (344 ) (118 ) (462 ) Dividends — — — — (118 ) — — (118 ) (41 ) (159 ) Other 3 — — — 12 — 1 13 — 13 Balance, March 31, 2020 389 $ 4 200 $ 2 $ 12,137 $ (2,845 ) $ (1,466 ) $ 7,832 $ 736 $ 8,568 For the nine months ended March 31, 2019 Accumulated Class A Class B Additional Other Total News Common Stock Common Stock Paid-in Accumulated Comprehensive Corp Non-controlling Total Shares Amount Shares Amount Capital Deficit Loss Equity Interests Equity (in millions) Balance, June 30, 2018 383 $ 4 200 $ 2 $ 12,322 $ (2,163 ) $ (874 ) $ 9,291 $ 1,186 $ 10,477 Cumulative impact from adoption of new standards — — — — — 32 (22 ) 10 10 20 Net income — — — — — 206 — 206 64 270 Other comprehensive loss — — — — — — (124 ) (124 ) (46 ) (170 ) Dividends — — — — (117 ) — — (117 ) (43 ) (160 ) Other 2 — — — 24 (2 ) 1 23 (2 ) 21 Balance, March 31, 2019 385 $ 4 200 $ 2 $ 12,229 $ (1,927 ) $ (1,019 ) $ 9,289 $ 1,169 $ 10,458 Stock Repurchases In May 2013, the Company’s Board of Directors (the “Board of Directors”) authorized the Company to repurchase up to an aggregate of $500 million of its Class A Common Stock. No stock repurchases were made during the nine months ended March 31, 2020 and 2019. Through April 30, 2020, the Company cumulatively repurchased approximately 5.2 million shares of Class A Common Stock for an aggregate cost of approximately $71 million. The remaining authorized amount under the stock repurchase program as of April 30, 2020 was approximately $429 million. All decisions regarding any future stock repurchases are at the sole discretion of a duly appointed committee of the Board of Directors and management. The committee’s decisions regarding future stock repurchases will be evaluated from time to time in light of many factors, including the Company’s financial condition, earnings, capital requirements and debt facility covenants, other contractual restrictions, as well as legal requirements, regulatory constraints, industry practice, market volatility and other factors that the committee may deem relevant. The stock repurchase authorization may be modified, extended, suspended or discontinued at any time by the Board of Directors and the Board of Directors cannot provide any assurances that any additional shares will be repurchased. The Company did not purchase any of its Class B Common Stock during the nine months ended March 31, 2020 and 2019. Dividends In February 2020, the Board of Directors declared a semi-annual cash dividend of $0.10 per share for Class A Common Stock and Class B Common Stock. This dividend was paid on April 15, 2020 to stockholders of record as of March 11, 2020. The timing, declaration, amount and payment of future dividends to stockholders, if any, is within the discretion of the Board of Directors. The Board of Directors’ decisions regarding the payment of future dividends will depend on many factors, including the Company’s financial condition, earnings, capital requirements and debt facility covenants, other contractual restrictions, as well as legal requirements, regulatory constraints, industry practice, market volatility and other factors that the Board of Directors deems relevant.

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	9 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Financial Instruments and Fair Value Measurements	NOTE 9 In accordance with ASC 820, “Fair Value Measurements” (“ASC 820”) fair value measurements are required to be disclosed using a three-tiered fair value hierarchy which distinguishes market participant assumptions into the following categories: • Level 1 — Quoted prices in active markets for identical assets or liabilities. • Level 2 — Observable inputs other than quoted prices included in Level 1. The Company could value assets and liabilities included in this level using dealer and broker quotations, certain pricing models, bid prices, quoted prices for similar assets and liabilities in active markets, or other inputs that are observable or can be corroborated by observable market data. • Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. For the Company, this primarily includes the use of forecasted financial information and other valuation related assumptions such as discount rates and long term growth rates in the income approach as well as the market approach which utilizes certain market and transaction multiples. Under ASC 820, certain assets and liabilities are required to be remeasured to fair value at the end of each reporting period. The following table summarizes those assets and liabilities measured at fair value on a recurring basis: As of March 31, 2020 As of June 30, 2019 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total (in millions) Assets: Foreign currency derivatives - cash flow hedges $ — $ 4 $ — $ 4 $ — $ 1 $ — $ 1 Cross currency interest rate derivatives - fair value hedges — 30 — 30 — 29 — 29 Cross currency interest rate derivatives - economic hedges — — — — — 12 — 12 Cross currency interest rate derivatives - cash flow hedges — 120 — 120 — 116 — 116 Equity securities (a) 54 — 125 179 74 — 113 187 Total assets $ 54 $ 154 $ 125 $ 333 $ 74 $ 158 $ 113 $ 345 Liabilities: Interest rate derivatives - cash flow hedges — 15 — 15 — 20 — 20 Mandatorily redeemable noncontrolling interests — — — — — — 11 11 Cross currency interest rate derivatives - cash flow hedges — 17 — 17 — 18 — 18 Total liabilities $ — $ 32 $ — $ 32 $ — $ 38 $ 11 $ 49 (a) See Note 5 —Investments. There have been no transfers between levels of the fair value hierarchy during the periods presented. Equity securities The fair values of equity securities with quoted prices in active markets are determined based on the closing price at the end of each reporting period. These securities are classified as Level 1 in the fair value hierarchy outlined above. The fair values of equity securities without readily determinable fair market values are determined based on cost, less any impairment, plus or minus changes in fair value resulting from observable price changes in orderly transactions for an identical or similar investment of the same issuer. These securities are classified as Level 3 in the fair value hierarchy outlined above. A rollforward of the Company’s equity securities classified as Level 3 is as follows: For the nine months ended March 31, 2020 2019 (in millions) Balance - beginning of period (a) $ 113 $ 127 Additions (b) 17 7 Sales — (10 ) Measurement adjustments (3 ) — Foreign exchange and other (2 ) (9 ) Balance - end of period $ 125 $ 115 (a) As a result of the adoption of ASU 2016-01 o (b) Includes purchases of equity securities as well as the equity securities received as consideration for the sale of Unruly to Tremor in the third quarter of fiscal 2020. Mandatorily redeemable noncontrolling interests The Company has liabilities recorded in its Balance Sheets for its mandatorily redeemable noncontrolling interests. These liabilities represent management’s best estimate of the amounts expected to be paid in accordance with the contractual terms of the underlying acquisition agreements. The fair values of these liabilities are based on the contractual payout formulas included in the acquisition agreements taking into account the expected performance of the business. Any remeasurements or accretion related to the Company’s mandatorily redeemable noncontrolling interests are recorded through Interest expense, net in the Statements of Operations. As the fair value does not rely on observable market inputs, the Company classifies these liabilities as Level 3 in the fair value hierarchy. A rollforward of the Company’s mandatorily redeemable noncontrolling interest liabilities classified as Level 3 is as follows: For the nine months ended March 31, 2020 2019 (in millions) Balance - beginning of period $ 12 $ 12 Payments (a) (11 ) — Accretion — 1 Foreign exchange movements — (1 ) Other (1 ) — Balance - end of period $ — $ 12 (a) In July 2019, REA Group acquired the remaining 19.7% interest in Smartline Home Loans Pty Limited for approximately $11 million, increasing REA Group’s ownership to 100%. Derivative Instruments The Company is directly and indirectly affected by risks associated with changes in certain market conditions. When deemed appropriate, the Company uses derivative instruments to mitigate the potential impact of these market risks. The primary market risks managed by the Company through the use of derivative instruments include: • foreign currency exchange rate risk: arising primarily through Foxtel Debt Group borrowings denominated in United States (“U.S.”) dollars, payments for customer premise equipment, and certain programming rights; and • interest rate risk: arising from fixed and floating rate Foxtel Debt Group borrowings. The Company formally designates qualifying derivatives as hedge relationships (“hedges”) and applies hedge accounting when considered appropriate. For economic hedges where no hedge relationship has been designated, changes in fair value are included as a component of net income in each reporting period within Other, net in the Statements of Operations. The Company does not use derivative financial instruments for trading or speculative purposes. Hedges are classified as current or non-current As of As of Balance Sheet Location March 31, June 30, (in millions) Foreign currency derivatives - cash flow hedges Other current assets $ 4 $ 1 Cross currency interest rate derivatives - fair value hedges Other current assets — 8 Cross currency interest rate derivatives - economic hedges Other current assets — 12 Cross currency interest rate derivatives - cash flow hedges Other current assets — 33 Cross currency interest rate derivatives - fair value hedges Other non-current 30 21 Cross currency interest rate derivatives - cash flow hedges Other non-current 120 83 Interest rate derivatives - cash flow hedges Other current liabilities — (2 ) Interest rate derivatives - cash flow hedges Other non-current (15 ) (18 ) Cross currency interest rate derivatives - cash flow hedges Other non-current (17 ) (18 ) Cash flow hedges The Company utilizes a combination of foreign currency derivatives, interest rate derivatives and cross currency interest rate derivatives to mitigate currency exchange and interest rate risk in relation to future interest and principal payments and payments for customer premise equipment. The total notional value of foreign currency contract derivatives designated for hedging was $59 million as of March 31, 2020. The maximum hedged term over which the Company is hedging exposure to foreign currency fluctuations is to February 2021. As of March 31, 2020, the Company estimates that approximately $2 million of net derivative gains related to its foreign currency contract derivative cash flow hedges included in Accumulated other comprehensive loss will be reclassified into the Statement of Operations within the next 12 months. The total notional value of interest rate swap derivatives designated as cash flow hedges was approximately A$300 million as of March 31, 2020. The maximum hedged term over which the Company is hedging exposure to variability in interest payments is to September 2022. As of March 31, 2020, the Company estimates that approximately $3 million of net derivative gains related to its interest rate swap derivative cash flow hedges included in Accumulated other comprehensive loss will be reclassified into the Statement of Operations within the next 12 months. The total notional value of cross currency interest rate swaps that were designated as cash flow hedges was approximately $280 million as of March 31, 2020. The maximum hedged term over which the Company is hedging exposure to variability in interest payments is to July 2024. As of March 31, 2020, the Company estimates that approximately $2 million of net derivative gains related to its cross currency interest rate swap derivative cash flow hedges included in Accumulated other comprehensive loss will be reclassified into the Statement of Operations within the next 12 months. The following tables present the impact that changes in the fair values of derivatives designated as cash flow hedges had on Accumulated other comprehensive loss and the Statement of Operations during the three and nine months ended March 31, 2020 and 2019. Gain (loss) recognized in (Gain) loss reclassified from Other Comprehensive Loss for the three months ended Other Comprehensive Loss Income statement March 31, March 31, location 2020 2019 2020 2019 (in millions) Derivative instruments designated as cash flow hedges: Foreign currency derivatives - cash flow hedges $ 5 $ (2 ) $ (1 ) $ — Operating expenses Cross currency interest rate derivatives - cash flow hedges 43 (9 ) (33 ) 7 Interest expense, net Interest rate derivatives - cash flow hedges (3 ) (4 ) 1 2 Interest expense, net Total $ 45 $ (15 ) $ (33 ) $ 9 Gain (loss) recognized in (Gain) loss reclassified from Other Comprehensive Loss for the nine months ended Other Comprehensive Loss for the nine months ended Income statement March 31, March 31, location 2020 2019 2020 2019 (in millions) Derivative instruments designated as cash flow hedges: Foreign currency derivatives - cash flow hedges $ 3 $ 2 $ (3 ) $ (2 ) Operating expenses Cross currency interest rate derivatives - cash flow hedges 35 7 (30 ) (5 ) Interest expense, net Interest rate derivatives - cash flow hedges (6 ) (6 ) (4 ) 6 Interest expense, net Total $ 32 $ 3 $ (37 ) $ (1 ) Upon adoption of ASU 2017-12, Fair value hedges Borrowings issued at fixed rates and in U.S. dollars expose the Company to fair value interest rate risk and currency exchange rate risk. The Company manages fair value interest rate risk and currency exchange rate risk through the use of cross currency interest rate swaps under which the Company exchanges fixed interest payments equivalent to the interest payments on the U.S. dollar denominated debt for floating rate Australian dollar denominated interest payments. The changes in fair value of derivatives designated as fair value hedges and the offsetting changes in fair value of the hedged items are recognized in Other, net. For the nine months ended March 31, 2020, such adjustments increased the carrying value of borrowings by $3 million. The total notional value of the fair value hedges was approximately $70 million as of March 31, 2020. The maximum hedged term over which the Company is hedging exposure to variability in interest payments is to July 2024. During the three and nine months ended March 31, 2020 and 2019, the amount recognized in the Statement of Operations on derivative instruments designated as fair value hedges related to the ineffective portion was nil and the Company excluded the currency basis from the changes in fair value of the derivative instruments from the assessment of hedge effectiveness. The following sets forth the effect of fair value hedging relationships on hedged items in the Balance Sheets as of March 31, 2020: As of March 31, 2020 (in millions) Borrowings: Carrying amount of hedged item $ 72 Cumulative hedging adjustments included in the carrying amount 5 Nonrecurring Fair Value Measurements In addition to assets and liabilities that are remeasured at fair value on a recurring basis, the Company has certain assets, primarily goodwill, intangible assets, equity method investments and property, plant and equipment, that are not required to be remeasured to fair value at the end of each reporting period. On an ongoing basis, the Company monitors whether events occur or circumstances change that would more likely than not reduce the fair values of these assets below their carrying amounts. If the Company determines that these assets are impaired, the Company would write down these assets to fair value. These nonrecurring fair value measurements are considered to be Level 3 in the fair value hierarchy. During the third quarter of fiscal 2020, the Company recognized non-cash to $786 million and the carrying value of indefinite-lived intangible assets decreased from $189million to $140 million. See Note 4—Impairment and Restructuring Charges. During the first quarter of fiscal 2020, the Company recognized non-cash 4 The Company did not recognize any write-downs on the carrying value of its assets during the three and nine months ended March 31, 2019. Other Fair Value Measurements As of March 31, 2020, the carrying value of the Company’s outstanding borrowings approximates the fair value. The U.S. private placement borrowings are classified as Level 2 and the remaining borrowings are classified as Level 3 in the fair value hierarchy.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	9 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Earnings Per Share	NOTE 10. EARNINGS (LOSS) PER SHARE The following tables set forth the computation of basic and diluted earnings (loss) per share under ASC 260, “Earnings per Share”: For the three months For the nine months March 31, 2020 2019 2020 2019 (in millions, except per share amounts) Net (loss) income $ (1,036 ) $ 23 $ (1,144 ) $ 270 Less: Net loss ( ) 306 (13 ) 272 (64 ) Net (loss) income $ (730 ) $ 10 $ (872 ) $ 206 Weighted-average number of shares of common stock outstanding - basic 588.3 585.0 587.7 584.6 Dilutive effect of equity awards (a) — 3.8 — 2.6 Weighted-average number of shares of common stock outstanding - diluted 588.3 588.8 587.7 587.2 Net (loss) income attributable to News Corporation stockholders per share - basic and diluted $ (1.24 ) $ 0.02 $ (1.48 ) $ 0.35 (a) The dilutive impact of the Company’s performance stock units, restricted stock units and stock options has been excluded from the calculation of diluted loss per share for the three a nd

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments The Company has commitments under certain firm contractual arrangements (“firm commitments”) to make future payments. These firm commitments secure the future rights to various assets and services to be used in the normal course of operations. The Company’s commitments as of March 31, 2020 have not changed significantly from the disclosures included in the 2019 Form 10-K 10-Q Contingencies The Company routinely is involved in various legal proceedings, claims and governmental inspections or investigations, including those discussed below. The outcome of these matters and claims is subject to significant uncertainty, and the Company often cannot predict what the eventual outcome of pending matters will be or the timing of the ultimate resolution of these matters. Fees, expenses, fines, penalties, judgments or settlement costs which might be incurred by the Company in connection with the various proceedings could adversely affect its results of operations and financial condition. The Company establishes an accrued liability for legal claims when it determines that a loss is both probable and the amount of the loss can be reasonably estimated. Once established, accruals are adjusted from time to time, as appropriate, in light of additional information. The amount of any loss ultimately incurred in relation to matters for which an accrual has been established may be higher or lower than the amounts accrued for such matters. Legal fees associated with litigation and similar proceedings are expensed as incurred. Except as otherwise provided below, for the contingencies disclosed for which there is at least a reasonable possibility that a loss may be incurred, the Company was unable to estimate the amount of loss or range of loss. The Company recognizes gain contingencies when the gain becomes realized or realizable. News America Marketing In May sold retained Insignia Systems, Inc. On July 11, 2019, Insignia filed a complaint in the U.S. District Court for the District of Minnesota against News America Marketing FSI L.L.C. (“NAM FSI”), News America Marketing In-Store In-Store”) In-Store Valassis Communications, Inc. On November 8, 2013, Valassis filed a complaint in the U.S. District Court for the Eastern District of Michigan (the “District Court”) against the NAM Parties and News America Incorporated (together, the “NAM Group”) alleging violations of federal and state antitrust laws and common law business torts, including unfair competition. The complaint seeks treble damages, injunctive relief and attorneys’ fees and costs. NAM In-Store On December 19, 2013, the NAM Group filed a motion to dismiss the complaint and on March 30, 2016, the District Court dismissed Valassis’s bundling and tying claims. On September 25, 2017, the District Court granted Valassis’s motion to transfer the case to the U.S. District Court for the Southern District of New York (the “N.Y. District Court”). On April 13, 2018, the NAM Group filed a motion for summary judgment dismissing the case which was granted in part and denied in part by the N.Y. District Court on February 21, 2019. The N.Y. District Court found that the NAM Group’s bidding practices were lawful but denied its motion with respect to claims arising out of certain other alleged contracting practices. In addition, the N.Y. District Court also dismissed Valassis’s claims relating to free-standing insert products. On December 20, 2019, the N.Y. District Court granted the NAM Group’s motion to exclude the testimony of Valassis’s sole damages expert. On February 6, 2020, in response to a motion by Valassis, the N.Y. District Court clarified that Valassis could seek the court’s permission to prove damages through evidence other than its expert’s excluded testimony. Valassis subsequently filed a motion to supplement and amend its expert and pre-trial COVID-19, U.K. Newspaper Matters Civil claims have been brought against the Company with respect to, among other things, voicemail interception and inappropriate payments to public officials at the Company’s former publication, The News of the World The Sun In connection with the separation of the Company from Twenty-First Century Fox, Inc. (“21st Century Fox”) on June 28, 2013, the Company and 21st Century Fox agreed in the Separation and Distribution Agreement that 21st Century Fox would indemnify the Company for payments made after such date arising out of civil claims and investigations relating to the U.K. Newspaper Matters as well as legal and professional fees and expenses paid in connection with the previously concluded criminal matters, other than fees, expenses and costs relating to employees (i) who are not directors, officers or certain designated employees or (ii) with respect to civil matters, who are not co-defendants after-tax The net expense related to the U.K. Newspaper Matters in Selling, general and administrative was $4 million and $2 million for the three months ended March 31, 2020 and 2019, respectively, and $5 million and $8 million for the nine months ended March 31, 2020 and 2019, respectively. As of March 31, 2020, the Company has provided for its best estimate of the liability for the claims that have been filed and costs incurred, including liabilities associated with employment taxes, and has accrued approximately $62 million. The amount to be indemnified by FOX of approximately $66 million was recorded as a receivable in Other current assets on the Balance Sheet as of March 31, 2020. The net expense for the nine months ended March 31, 2020 reflects a $5 million impact from the reversal of a portion of the Company’s previously accrued liability and the corresponding receivable from FOX as the result of an agreement reached with the relevant tax authority with respect to certain employment taxes. It is not possible to estimate the liability or corresponding receivable for any additional claims that may be filed given the information that is currently available to the Company. If more claims are filed and additional information becomes available, the Company will update the liability provision and corresponding receivable for such matters. The Company is not able to predict the ultimate outcome or cost of the civil claims. It is possible that these proceedings and any adverse resolution thereof could damage its reputation, impair its ability to conduct its business and adversely affect its results of operations and financial condition. Other The Company’s tax returns are subject to on-going The Company believes it has appropriately accrued for the expected outcome of uncertain tax matters and believes such liabilities represent a reasonable provision for taxes ultimately expected to be paid; however, these liabilities may need to be adjusted as new information becomes known and as tax examinations continue to progress, or as settlements or litigations occur.

Income Taxes

Income Taxes	9 Months Ended
	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 12. INCOME TAXES At the end of each interim period, the Company estimates the annual effective tax rate and applies that rate to its ordinary quarterly earnings. The tax expense or benefit related to significant, unusual or extraordinary items that will be separately reported or reported net of their related tax effect are individually computed and recognized in the interim period in which those items occur. In addition, the effects of changes in enacted tax laws or rates or tax status are recognized in the interim period in which the change occurs. For the three months ended March 31 , 2020 , the Company recorded an ben e pre-tax loss resulting in an effective tax rate that was lower than the U.S. statutory tax rate. The tax rate was impacted by the non-cash impairment of Foxtel’s goodwill and indefinite-lived intangible assets, which have no tax benefit, by valuation allowances being recorded against tax benefits in certain foreign jurisdictions with operating losses, and by the impact of foreign operations which are subject to higher tax rates. For the nine months ended March 31, 2020, the Company recorded an income tax expense pre-tax million resulting in an effective tax rate that was lower than the U.S. statutory tax rate. The tax rate was impacted by the non-cash For the three months ended March 31, 2019, the Company recorded income tax expense of $7 million on pre-tax For the nine months ended March 31, 2019, the Company recorded income tax expense of $112 million on pre-tax Management assesses available evidence to determine whether sufficient future taxable income will be generated to permit the use of existing deferred tax assets. Based on management’s assessment of available evidence, it has been determined that it is more likely than not that certain deferred tax assets in U.S Federal, State and foreign jurisdictions may not be realized and therefore, a valuation allowance has been established against those tax assets. As a result of adverse economic impacts of COVID-19 COVID-19 The Company’s tax returns are subject to on-going The Company paid gross income taxes of $93 million and $107 million during the nine months ended March 31, 2020 and 2019, respectively, and received tax refunds of $5 million and $17 million, respectively.

Segment Information

Segment Information	9 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Segment Information	NOTE 13. SEGMENT INFORMATION The Company manages and reports its businesses in the following five segments: • News and Information Services The Wall Street Journal Barron’s The Australian The Daily Telegraph, Herald Sun, The Courier Mail The Advertiser The Times, The Sunday Times, The Sun The Sun on Sunday New York Post The segment included News America Marketing until the completion of the sale of the business on May 5, 2020. • Subscription Video Services pay-TV ASX-listed pay-TV ANC operates the SKY NEWS network, Australia’s 24-hour • Book Publishing The Hobbit, Goodnight Moon, To Kill a Mockingbird, Jesus Calling Hillbilly Elegy • Digital Real Estate Services end-to-end Move is a leading provider of online real estate services in the U.S. and primarily operates realtor.com ® SM SM ® TM • Other Segment EBITDA is defined as revenues less operating expenses and selling, general and administrative expenses. Segment EBITDA does not include: depreciation and amortization, impairment and restructuring charges, equity losses of affiliates, interest (expense) income, net, other, net and income tax (expense) benefit. Segment EBITDA may not be comparable to similarly titled measures reported by other companies, since companies and investors may differ as to what items should be included in the calculation of Segment EBITDA. Segment EBITDA is the primary measure used by the Company’s chief operating decision maker to evaluate the performance of and allocate resources within the Company’s businesses. Segment EBITDA provides management, investors and equity analysts with a measure to analyze the operating performance of each of the Company’s business segments and its enterprise value against historical data and competitors’ data, although historical results may not be indicative of future results (as operating performance is highly contingent on many factors, including customer tastes and preferences). Segment information is summarized as follows: For the three months ended For the nine months ended 2020 2019 2020 2019 (in millions) Revenues: News and Information Services $ 1,130 $ 1,224 $ 3,520 $ 3,729 Subscription Video Services 462 539 1,477 1,666 Book Publishing 412 421 1,259 1,335 Digital Real Estate Services 261 272 827 876 Other 1 1 2 2 Total revenues $ 2,266 $ 2,457 $ 7,085 $ 7,608 Segment EBITDA: News and Information Services $ 75 $ 65 $ 273 $ 286 Subscription Video Services 68 98 219 295 Book Publishing 55 53 167 209 Digital Real Estate Services 74 73 274 299 Other (30 ) (42 ) (115 ) (114 ) Depreciation and amortization (160 ) (168 ) (484 ) (494 ) Impairment and restructuring charges (1,125 ) (34 ) (1,451 ) (71 ) Equity losses of affiliates (7 ) (4 ) (12 ) (13 ) Interest expense, net (9 ) (14 ) (13 ) (45 ) Other, net 13 3 19 30 (Loss) income before income tax benefit ( ) (1,046 ) 30 (1,123 ) 382 Income tax benefit ( ) 10 (7 ) (21 ) (112 ) Net (loss) income $ (1,036 ) $ 23 $ (1,144 ) $ 270 As of As of March 31, 2020 June 30, 2019 (in millions) Total assets: News and Information Services $ 5,288 $ 5,482 Subscription Video Services 3,319 4,406 Book Publishing 2,165 2,074 Digital Real Estate Services 2,166 2,229 Other (a) 1,165 1,185 Investments 325 335 Total assets $ 14,428 $ 15,711 (a) The Other segment primarily includes Cash and cash equivalents. As of As of March 31, 2020 June 30, 2019 (in millions) Goodwill and intangible assets, net: News and Information Services $ 2,082 $ 2,617 Subscription Video Services 1,371 2,595 Book Publishing 735 772 Digital Real Estate Services 1,489 1,589 Total Goodwill and intangible assets, net $ 5,677 $ 7,573

Additional Financial Informatio

Additional Financial Information	9 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Additional Financial Information	NOTE 1 4 Receivables, net Receivables are presented net of an allowance for doubtful accounts, which is an estimate of amounts that may not be collectible. The allowance for doubtful accounts is estimated based on historical experience, receivable aging, current economic trends and specific identification of certain receivables that are at risk of not being collected. Receivables, net consist of: As of As of March 31, 2020 June 30, 2019 (in millions) Receivables $ 1,295 $ 1,590 Allowance for doubtful accounts (58 ) (46 ) Receivables, net $ 1,237 $ 1,544 Other Current Assets The following table sets forth the components of Other current assets: As of As of March 31, 2020 June 30, 2019 (in millions) Assets held for sale $ 334 $ — Other 419 515 Total Other current assets $ 753 $ 515 Other Non-Current The following table sets forth the components of Other non-current As of As of March 31, 2020 June 30, 2019 (in millions) Royalty advances to authors $ 342 $ 343 Retirement benefit assets 137 117 Inventory (a) 134 155 Other 350 315 Total Other non-current $ 963 $ 930 (a) Primarily consists of the non-current Other Current Liabilities The following table sets forth the components of Other current liabilities: As of As of March 31, 2020 June 30, 2019 (in millions) Royalties and commissions payable $ 190 $ 211 Current operating lease liabilities (a) 156 — Allowance for sales returns 168 192 Current tax payable 18 22 Liabilities held for sale 190 — Other 257 299 Total Other current liabilities $ 979 $ 724 (a) As a result of the adoption of ASU 2016-02 Other, net The following table sets forth the components of Other, net: For the three months For the nine months March 31, March 31, 2020 2019 2020 2019 (in millions) Dividends received from equity security investments $ 1 $ 1 $ 2 $ 24 Remeasurement of equity securities (17 ) 6 (22 ) (23 ) Gain on sale of businesses (a) 20 — 20 — Gain on sale of Australian property — 2 — 14 Other, net 9 (6 ) 19 15 Total Other, net $ 13 $ 3 $ 19 $ 30 (a) During the three and nine months ended March 31, 2020, REA Group contributed its businesses located in Singapore and Indonesia into a joint venture with 99.co in return for an equity method investment in the combined entity. As a result of the deconsolidation of these entities, REA Group recognized a $20 million gain in Other, net. Supplemental Cash Flow Information The following table sets forth the Company’s cash paid for taxes and interest: For the nine months ended March 31, 2020 2019 (in millions) Cash paid for interest $ 43 $ 67 Cash paid for taxes 93 107

Subsequent Events

Subsequent Events	9 Months Ended
	Mar. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	NOTE 15. SUBSEQUENT EVENTS News America Marketing On March 31, 2020, the Company entered into a definitive agreement for the sale of its News America Marketing business, which was completed on May 5, 2020. Refer to Note 3—Acquisitions, Disposals and Other Transactions for further discussion. REA Group Credit Facility In April 2020, REA Group entered into a new A$148.5 million working capital facility and an A$20 million overdraft facility. Refer to Note 6—Borrowings for further discussion .

Description of Business and B_2

Description of Business and Basis of Presentation (Policies)	9 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated financial statements of the Company, which are referred to herein as the “Consolidated Financial Statements,” have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q S-X. (“COVID-19”) Intercompany transactions and balances have been eliminated. Equity investments in which the Company exercises significant influence but does not exercise control and is not the primary beneficiary are accounted for using the equity method. Investments in which the Company is not able to exercise significant influence over the investee are measured at fair value, if the fair value is readily determinable. If an investment’s fair value is not readily determinable, the Company will measure the investment at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for an identical or similar investment of the same issuer. The consolidated statements of operations are referred to herein as the “Statements of Operations.” The consolidated balance sheets are referred to herein as the “Balance Sheets.” The consolidated statements of cash flows are referred to herein as the “Statements of Cash Flows.” The accompanying Consolidated Financial Statements and notes thereto should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K 10-K”). Certain reclassifications have been made to the prior period consolidated financial statements to conform to the current year presentation. Specifically, the Company reclassified the costs associated with certain initiatives previously included within the Other segment to the News and Information Services and Digital Real Estate Services segments as these initiatives directly benefit these segments. For the three and nine months ended March 31, 2019, these reclassifications increased Selling, general and administrative by $8 million and $23 million, respectively, for the News and Information Services segment and by $1 million in both periods for the Digital Real Estate Services segment. The Company’s fiscal year ends on the Sunday closest to June 30. Fiscal 2020 and fiscal 2019 include 52 weeks
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Adopted In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-02, 2016-02”). 2016-02 right-of-use guidance, and have the same effective date as ASU 2016-02. 2016-02 right-of-use The Company also recorded a $9 million adjustment related to previous sale leaseback transactions, which decreased the Accumulated deficit balance as of July 1, 2019. The Company’s adoption of ASU 2016-02 right-of-use In August 2017, the FASB issued ASU 2017-12, 2017-12”). 2017-12 2017-12 In February 2018, the FASB issued ASU 2018-02, 2018-02”). 2018-02 2018-02 In April 2019, the FASB issued ASU 2019-04, 2019-04”). 2019-04 2017-12, 2019-04 2017-12. 2016-01, 825-10): 2016-01”), 2019-04 2016-13 2019-04 2017-12 2016-01 Issued In June 2016, the FASB issued ASU 2016-13, 2016-13”). 2016-13 2016-13 2016-13 In August 2018, the FASB issued ASU 2018-13, 2018-13”). 2018-13 2018-13 2018-13 2018-13 2018-13 In March 2019, the FASB issued ASU 2019-02, 926-20) 920-350): 2019-02”). 2019-02 920-350) 926-20). 2019-02 2019-02 In December 2019, the FASB issued ASU 2019-12, 2019-12”). 2019-12 year-to-date 2019-12 2019-12

Revenues (Tables)

Revenues (Tables)	9 Months Ended
	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
Summary of Disaggregated Revenue by Type and Segment	The following tables present the Company’s disaggregated revenues for the three and nine months ended March 31, 2020 and 2019: For the three months ended March 31, 2020 News and Subscription Book Digital Real Other Total (in millions) Revenues: Circulation and subscription $ 543 $ 414 $ — $ 9 $ — $ 966 Advertising 511 40 — 25 — 576 Consumer — — 396 — — 396 Real estate — — — 209 — 209 Other 76 8 16 18 1 119 Total Revenues $ 1,130 $ 462 $ 412 $ 261 $ 1 $ 2,266 For the three months ended March 31, 2019 News and Subscription Book Digital Real Other Total (in millions) Revenues: Circulation and subscription $ 538 $ 474 $ — $ 12 $ 1 $ 1,025 Advertising 593 50 — 27 — 670 Consumer — — 403 — — 403 Real estate — — — 218 — 218 Other 93 15 18 15 — 141 Total Revenues $ 1,224 $ 539 $ 421 $ 272 $ 1 $ 2,457 For the nine months ended March 31, 2020 News and Subscription Book Digital Real Other Total (in millions) Revenues: Circulation and subscription $ 1,618 $ 1,304 $ — $ 28 $ 1 $ 2,951 Advertising 1,640 144 — 77 — 1,861 Consumer — — 1,204 — — 1,204 Real estate — — — 669 — 669 Other 262 29 55 53 1 400 Total Revenues $ 3,520 $ 1,477 $ 1,259 $ 827 $ 2 $ 7,085 For the nine months ended March 31, 2019 News and Subscription Book Digital Real Other Total (in millions) Revenues: Circulation and subscription $ 1,593 $ 1,455 $ — $ 39 $ 1 $ 3,088 Advertising 1,801 162 — 89 — 2,052 Consumer — — 1,281 — — 1,281 Real estate — — — 693 — 693 Other 335 49 54 55 1 494 Total Revenues $ 3,729 $ 1,666 $ 1,335 $ 876 $ 2 $ 7,608
Summary of Deferred Revenue from Contracts with Customers	The following table presents changes in the deferred revenue balance for the three and nine months ended March 31, 2020 and 2019: For the three months For the nine months March 31, 2020 2019 2020 2019 Balance, beginning of period $ 411 $ 430 $ 428 $ 510 Deferral of revenue 851 934 2,426 2,271 Recognition of deferred revenue (a) (807 ) (883 ) (2,398 ) (2,300 ) Other (b) (68 ) (21 ) (69 ) (21 ) Balance, end of period $ 387 $ 460 $ 387 $ 460 (a) For the three and nine months ended March 31, 2020, the Company recognized approximately $226 million and $371 million, respectively, of revenue which was included in the opening deferred revenue balance. For the three and nine months ended March 31, 2019, the Company recognized $241 million and $461 million, respectively, of revenue which was included in the opening deferred revenue balance. (b) For the three and nine months ended March 31, 2020, the Company reclassified $46 million of deferred revenue to Other current liabilities in connection with the sale of News America Marketing. See Note 3—Acquisitions, Disposals and Other Transactions.

Acquisitions, Disposals and O_2

Acquisitions, Disposals and Other Transactions (Tables)	9 Months Ended
	Mar. 31, 2020
Schedule Of Class Of Assets And Liabilities Held For Sale Included In Other Current Assets and Liabilities In Balance Sheet	The major classes of assets and liabilities held for sale, which are included in Other current assets and Other current liabilities, respectively, in the Balance Sheets, were as follows: As of March 31, 2020 (in millions) Cash and cash equivalents $ 10 Receivables, net 217 Other current assets 28 Intangible assets, net 225 Other non-current assets 29 Impairment charge on disposal group (175 ) Total assets held for sale $ 334 Accounts payable $ 13 Accrued expenses 69 Deferred revenue 46 Other current liabilities 54 Other non-current liabilities 8 Total liabilities held for sale $ 190

Impairment and Restructuring _2

Impairment and Restructuring Charges (Tables)	9 Months Ended
	Mar. 31, 2020
Restructuring and Related Activities [Abstract]
Schedule of Changes in Restructuring Program Liabilities	Changes in restructuring program liabilities were as follows: For the three months ended March 31, 2020 2019 One time One time employee Facility employee Facility termination related termination related benefits costs Other costs Total benefits costs Other costs Total (in millions) Balance, beginning of period $ 16 $ — $ 9 $ 25 $ 20 $ 2 $ 11 $ 33 Additions 19 — — 19 25 — — 25 Payments (17 ) — — (17 ) (17 ) — (1 ) (18 ) Balance, end of period $ 18 $ — $ 9 $ 27 $ 28 $ 2 $ 10 $ 40 For the nine months ended March 31, 2020 2019 One time One time employee Facility employee Facility termination related termination related benefits costs Other costs Total benefits costs Other costs Total (in millions) Balance, beginning of period $ 28 $ 2 $ 10 $ 40 $ 29 $ 2 $ 11 $ 42 Additions 53 — — 53 62 — — 62 Payments (63 ) — (1 ) (64 ) (61 ) — (2 ) (63 ) Other — (2 ) — (2 ) (2 ) — 1 (1 ) Balance, end of period $ 18 $ — $ 9 $ 27 $ 28 $ 2 $ 10 $ 40

Investments (Tables)

Investments (Tables)	9 Months Ended
	Mar. 31, 2020
Schedule of Investments [Abstract]
Schedule of Investments	The Company’s investments were comprised of the following: Ownership As of As of (in millions) Equity method investments (a) various $ 146 $ 148 Equity securities (b) various 179 187 Total Investments $ 325 $ 335 (a) Equity method investments are primarily comprised of Foxtel’s investment in Nickelodeon Australia Joint Venture, Elara Technologies Pte. Ltd. (“Elara”), which operates PropTiger.com and Housing.com, and REA Group’s investment in 99.co Joint Venture. (b) Equity securities are primarily comprised of certain investments in China, the Company’s investment in HT&E Limited, which operates a portfolio of Australian radio and outdoor media assets, and the Company’s investment in Tremor.
Schedule of Total Gains and Losses on Equity Securities	The components comprising total gains and losses on equity securities are set forth below: For the three months For the nine months 2020 2019 2020 2019 (in millions) (in millions) Total ( ) gains $ (17 ) $ 6 $ (22 ) $ (23 ) Less: Net gains recognized on equity securities sold — — — — Unrealized ( ) gains $ (17 ) $ 6 $ (22 ) $ (23 )

Borrowings (Tables)

Borrowings (Tables)	9 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Schedule of Borrowings	The Company’s total borrowings consist of the following: Interest rate Maturity at 2020 As of March 31, As of June 30, 2019 (in millions) Foxtel Group Credit facility 2014 — tranche 2 (a) — Jan 31, 2020 $ — $ 56 Credit facility 2015 (a) — Jul 31, 2020 — 281 Credit facility 2016 (a) — Sept 11, 2021 — 193 Credit facility 2019 (b) (c) 3.79 % Nov 22, 2022 376 — Term loan facility 2019 (d) 6.25 % Nov 22, 2024 154 — Working capital facility 201 7 (a) (c) (e) (f) 3.79 % Nov 22, 2022 18 56 Telstra F acility (g) 8.23 % Dec 22, 2027 — — US private placement 2009 — tranche 3 (h) — Sept 24, 2019 — 75 US private placement 2012 — USD portion — tranche 1 (h) — Jul 25, 2019 — 150 US private placement 2012 — USD portion — tranche 2 (i) 4.27 % Jul 25, 2022 201 199 US private placement 2012 — USD portion — tranche 3 (i) 4.42 % Jul 25, 2024 152 149 US private placement 2012 — AUD portion 7.04 % Jul 25, 2022 66 77 REA Group Credit facility 2016 — tranche 3 (j) — Dec 31, 2019 — 168 Credit facility 2018 (k) 1.82 % Apr 27, 2021 43 49 Credit facility 2019 (k) (l) 1.66 % Dec 2, 2021 105 — Total borrowings (m) 1,115 1,453 Less: current portion (n) — (449 ) Long-term borrowings $ 1,115 $ 1,004 (a) During November 2019, certain subsidiaries of NXE Australia Pty Limited (“Foxtel” and together with such subsidiaries, the “Foxtel Debt Group”) repaid the outstanding borrowings under these facilities using a combination of new indebtedness and an A$200 million shareholder loan provided by the Company. (b) During November 2019, the Foxtel Debt Group entered into an A$610 million revolving credit facility maturing in November 2022 (c) Borrowings under these facilities bear interest at a floating rate of the Australian BBSY plus an applicable margin of between 2.00% and 3.75% per annum depending on the Foxtel Debt Group’s net leverage ratio. (d) During November 2019, the Foxtel Debt Group entered into an A$250 million term loan facility maturing in November 2024 (e) During November 2019, the Foxtel Debt Group amended its 2017 Working Capital Facility which, among other things, extended the remaining term to three years, decreased the capacity under the facility from A$100 million to A$40 million and increased the applicable margin. (f) As of March 31, 2020, the Foxtel Debt Group has undrawn commitments of A$2 million (g) In February 2020, the Foxtel Debt Group entered into an A$170 (h) During the first quarter of fiscal 2020, the Foxtel Debt Group repaid $150 July 2019 September 2019 (i) The carrying values of the borrowings include any fair value adjustments related to the Company’s fair value hedges. See Note 9 —Financial Instruments and Fair Value Measurements. (j) During December 2019, REA Group repaid the final A$240 million tranche of its A$480 million revolving loan facility using a combination of cash on hand and new indebtedness. ( k ) Borrowings under these facilities bear interest at a floating rate of the Australian BBSY plus a margin of between 0.85% and 1.40% depending on REA Group’s net leverage ratio. ( l ) During December 2019, REA Group entered into an A$170 million unsecured syndicated revolving loan facility maturing in December 2021 (m) The Company’s outstanding borrowings as of March 31, 2020 were incurred by Foxtel and REA Group, consolidated but non wholly-owned subsidiaries of News Corp. These borrowings are only guaranteed by Foxtel and REA Group and their respective subsidiaries, as applicable, and are non-recourse (n) The Company classifies the current portion of long term debt as non-current 470-50,

Leases (Tables)

Leases (Tables)	9 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Schedule of total lease cost for operating leases	The total lease cost for operating leases included in the Statement of Operations was as follows: For the For the three months ended nine months ended March 31, March 31, Income Statement Location 2020 2020 (in millions) Operating lease costs Selling, general and administrative $ 50 $ 149 Operating lease costs Operating expenses 1 7 Short term lease costs Operating expenses 2 7 Variable lease costs Selling, general and administrative 10 29 Total lease costs $ 63 $ 192
Schedule of Additional Information Related To Operating Lease	Additional information related to the Company’s operating leases under ASU 2016-02: As of March 31, 2020 Weighted-average remaining lease term 11.3 years Weighted-average incremental borrowing rate 3.27 % For the nine months ended March 31, 2020 (in millions) Cash paid - Operating lease liabilities $ 175 Operating lease right-of-use $ 225
Schedule of Future minimum lease payments under non-cancellable leases	Future minimum lease payments under non-cancellable As of March 31, 2020 (in millions) Fiscal 2020 (three months remaining) $ 54 Fiscal 2021 190 Fiscal 2022 193 Fiscal 2023 182 Fiscal 2024 168 Thereafter 935 Total future minimum lease payments 1,722 Less: interest 317 Present value of minimum payments $ 1,405

Equity (Tables)

Equity (Tables)	9 Months Ended
	Mar. 31, 2020
Stockholders' Equity Note [Abstract]
Summary of Changes in Equity	The following tables summarize changes in equity for the three and nine months ended March 31, 2020 and 2019: For the three months ended March 31, 2020 Accumulated Class A Class B Additional Other Total Common Stock Common Stock Paid-in Accumulated Comprehensive News Corp Non-controlling Total Shares Amount Shares Amount Capital Deficit Loss Equity Interests Equity (in millions) Balance, December 31, 389 $ 4 200 $ 2 $ 12,183 $ (2,114 ) $ (1,117 ) $ 8,958 $ 1,169 $ 10,127 Net loss — — — — — (730 ) — (730 ) (306 ) (1,036 ) Other comprehensive loss — — — — — — (351 ) (351 ) (109 ) (460 ) Dividends — — — — (59 ) — — (59 ) (19 ) (78 ) Other — — — — 13 (1 ) 2 14 1 15 Balance, March 31, 2020 389 $ 4 200 $ 2 $ 12,137 $ (2,845 ) $ (1,466 ) $ 7,832 $ 736 $ 8,568 For the three months ended March 31, 2019 Accumulated Class A Class B Additional Other Total Common Stock Common Stock Paid-in Accumulated Comprehensive News Corp Non-controlling Total Shares Amount Shares Amount Capital Deficit Loss Equity Interests Equity (in millions) Balance, December 31, 2018 385 $ 4 200 $ 2 $ 12,271 $ (1,937 ) $ (1,076 ) $ 9,264 $ 1,170 $ 10,434 Net income — — — — — 10 — 10 13 23 Other comprehensive income — — — — — — 57 57 10 67 Dividends — — — — (58 ) — — (58 ) (20 ) (78 ) Other — — — — 16 — — 16 (4 ) 12 Balance, March 31, 2019 385 $ 4 200 $ 2 $ 12,229 $ (1,927 ) $ (1,019 ) $ 9,289 $ 1,169 $ 10,458 For the nine months ended March 31, 2020 Accumulated Class A Class B Additional Other Total News Common Stock Common Stock Paid-in Accumulated Comprehensive Corp Non-controlling Total Shares Amount Shares Amount Capital Deficit Loss Equity Interests Equity (in millions) Balance, June 30, 2019 386 $ 4 200 $ 2 $ 12,243 $ (1,979 ) $ (1,126 ) $ 9,144 $ 1,167 $ 10,311 Cumulative impact from adoption of new standards — — — — — 6 3 9 — 9 Net loss — — — — — (872 ) — (872 ) (272 ) (1,144 ) Other comprehensive loss — — — — — — (344 ) (344 ) (118 ) (462 ) Dividends — — — — (118 ) — — (118 ) (41 ) (159 ) Other 3 — — — 12 — 1 13 — 13 Balance, March 31, 2020 389 $ 4 200 $ 2 $ 12,137 $ (2,845 ) $ (1,466 ) $ 7,832 $ 736 $ 8,568 For the nine months ended March 31, 2019 Accumulated Class A Class B Additional Other Total News Common Stock Common Stock Paid-in Accumulated Comprehensive Corp Non-controlling Total Shares Amount Shares Amount Capital Deficit Loss Equity Interests Equity (in millions) Balance, June 30, 2018 383 $ 4 200 $ 2 $ 12,322 $ (2,163 ) $ (874 ) $ 9,291 $ 1,186 $ 10,477 Cumulative impact from adoption of new standards — — — — — 32 (22 ) 10 10 20 Net income — — — — — 206 — 206 64 270 Other comprehensive loss — — — — — — (124 ) (124 ) (46 ) (170 ) Dividends — — — — (117 ) — — (117 ) (43 ) (160 ) Other 2 — — — 24 (2 ) 1 23 (2 ) 21 Balance, March 31, 2019 385 $ 4 200 $ 2 $ 12,229 $ (1,927 ) $ (1,019 ) $ 9,289 $ 1,169 $ 10,458

Financial Instruments and Fai_2

Financial Instruments and Fair Value Measurements (Tables)	9 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Summary of Assets and Liabilities Measured At Fair Value on Recurring Basis	The following table summarizes those assets and liabilities measured at fair value on a recurring basis: As of March 31, 2020 As of June 30, 2019 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total (in millions) Assets: Foreign currency derivatives - cash flow hedges $ — $ 4 $ — $ 4 $ — $ 1 $ — $ 1 Cross currency interest rate derivatives - fair value hedges — 30 — 30 — 29 — 29 Cross currency interest rate derivatives - economic hedges — — — — — 12 — 12 Cross currency interest rate derivatives - cash flow hedges — 120 — 120 — 116 — 116 Equity securities (a) 54 — 125 179 74 — 113 187 Total assets $ 54 $ 154 $ 125 $ 333 $ 74 $ 158 $ 113 $ 345 Liabilities: Interest rate derivatives - cash flow hedges — 15 — 15 — 20 — 20 Mandatorily redeemable noncontrolling interests — — — — — — 11 11 Cross currency interest rate derivatives - cash flow hedges — 17 — 17 — 18 — 18 Total liabilities $ — $ 32 $ — $ 32 $ — $ 38 $ 11 $ 49 (a) See Note 5 —Investments.
Summary of Equity Securities Classified as Level 3	A rollforward of the Company’s equity securities classified as Level 3 is as follows: For the nine months ended March 31, 2020 2019 (in millions) Balance - beginning of period (a) $ 113 $ 127 Additions (b) 17 7 Sales — (10 ) Measurement adjustments (3 ) — Foreign exchange and other (2 ) (9 ) Balance - end of period $ 125 $ 115 (a) As a result of the adoption of ASU 2016-01 o (b) Includes purchases of equity securities as well as the equity securities received as consideration for the sale of Unruly to Tremor in the third quarter of fiscal 2020.
Summary of Mandatorily Redeemable Noncontrolling Interest Liabilities Classified Level 3	A rollforward of the Company’s mandatorily redeemable noncontrolling interest liabilities classified as Level 3 is as follows: For the nine months ended March 31, 2020 2019 (in millions) Balance - beginning of period $ 12 $ 12 Payments (a) (11 ) — Accretion — 1 Foreign exchange movements — (1 ) Other (1 ) — Balance - end of period $ — $ 12 (a) In July 2019, REA Group acquired the remaining 19.7% interest in Smartline Home Loans Pty Limited for approximately $11 million, increasing REA Group’s ownership to 100%.
Summary of Hedges Classified as Current or Non-Current in Balance Sheets Based on Maturity Dates	Hedges are classified as current or non-current As of As of Balance Sheet Location March 31, June 30, (in millions) Foreign currency derivatives - cash flow hedges Other current assets $ 4 $ 1 Cross currency interest rate derivatives - fair value hedges Other current assets — 8 Cross currency interest rate derivatives - economic hedges Other current assets — 12 Cross currency interest rate derivatives - cash flow hedges Other current assets — 33 Cross currency interest rate derivatives - fair value hedges Other non-current 30 21 Cross currency interest rate derivatives - cash flow hedges Other non-current 120 83 Interest rate derivatives - cash flow hedges Other current liabilities — (2 ) Interest rate derivatives - cash flow hedges Other non-current (15 ) (18 ) Cross currency interest rate derivatives - cash flow hedges Other non-current (17 ) (18 )
Financial Instruments and Fair Value Measurements - Summary of Derivative Instruments Designated as Cash Flow Hedges	The following tables present the impact that changes in the fair values of derivatives designated as cash flow hedges had on Accumulated other comprehensive loss and the Statement of Operations during the three and nine months ended March 31, 2020 and 2019. Gain (loss) recognized in (Gain) loss reclassified from Other Comprehensive Loss for the three months ended Other Comprehensive Loss Income statement March 31, March 31, location 2020 2019 2020 2019 (in millions) Derivative instruments designated as cash flow hedges: Foreign currency derivatives - cash flow hedges $ 5 $ (2 ) $ (1 ) $ — Operating expenses Cross currency interest rate derivatives - cash flow hedges 43 (9 ) (33 ) 7 Interest expense, net Interest rate derivatives - cash flow hedges (3 ) (4 ) 1 2 Interest expense, net Total $ 45 $ (15 ) $ (33 ) $ 9 Gain (loss) recognized in (Gain) loss reclassified from Other Comprehensive Loss for the nine months ended Other Comprehensive Loss for the nine months ended Income statement March 31, March 31, location 2020 2019 2020 2019 (in millions) Derivative instruments designated as cash flow hedges: Foreign currency derivatives - cash flow hedges $ 3 $ 2 $ (3 ) $ (2 ) Operating expenses Cross currency interest rate derivatives - cash flow hedges 35 7 (30 ) (5 ) Interest expense, net Interest rate derivatives - cash flow hedges (6 ) (6 ) (4 ) 6 Interest expense, net Total $ 32 $ 3 $ (37 ) $ (1 )
Schedule of FairValue Hedging Relationship By Balance Sheet	The following sets forth the effect of fair value hedging relationships on hedged items in the Balance Sheets as of March 31, 2020: As of March 31, 2020 (in millions) Borrowings: Carrying amount of hedged item $ 72 Cumulative hedging adjustments included in the carrying amount 5

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	9 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings per Share	The following tables set forth the computation of basic and diluted earnings (loss) per share under ASC 260, “Earnings per Share”: For the three months For the nine months March 31, 2020 2019 2020 2019 (in millions, except per share amounts) Net (loss) income $ (1,036 ) $ 23 $ (1,144 ) $ 270 Less: Net loss ( ) 306 (13 ) 272 (64 ) Net (loss) income $ (730 ) $ 10 $ (872 ) $ 206 Weighted-average number of shares of common stock outstanding - basic 588.3 585.0 587.7 584.6 Dilutive effect of equity awards (a) — 3.8 — 2.6 Weighted-average number of shares of common stock outstanding - diluted 588.3 588.8 587.7 587.2 Net (loss) income attributable to News Corporation stockholders per share - basic and diluted $ (1.24 ) $ 0.02 $ (1.48 ) $ 0.35 (a) The dilutive impact of the Company’s performance stock units, restricted stock units and stock options has been excluded from the calculation of diluted loss per share for the three a nd

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Reconciliation of Revenue and Segment EBITDA from Segments to Consolidated	Segment information is summarized as follows: For the three months ended For the nine months ended 2020 2019 2020 2019 (in millions) Revenues: News and Information Services $ 1,130 $ 1,224 $ 3,520 $ 3,729 Subscription Video Services 462 539 1,477 1,666 Book Publishing 412 421 1,259 1,335 Digital Real Estate Services 261 272 827 876 Other 1 1 2 2 Total revenues $ 2,266 $ 2,457 $ 7,085 $ 7,608 Segment EBITDA: News and Information Services $ 75 $ 65 $ 273 $ 286 Subscription Video Services 68 98 219 295 Book Publishing 55 53 167 209 Digital Real Estate Services 74 73 274 299 Other (30 ) (42 ) (115 ) (114 ) Depreciation and amortization (160 ) (168 ) (484 ) (494 ) Impairment and restructuring charges (1,125 ) (34 ) (1,451 ) (71 ) Equity losses of affiliates (7 ) (4 ) (12 ) (13 ) Interest expense, net (9 ) (14 ) (13 ) (45 ) Other, net 13 3 19 30 (Loss) income before income tax benefit ( ) (1,046 ) 30 (1,123 ) 382 Income tax benefit ( ) 10 (7 ) (21 ) (112 ) Net (loss) income $ (1,036 ) $ 23 $ (1,144 ) $ 270
Reconciliation of Assets from Segments to Consolidated	As of As of March 31, 2020 June 30, 2019 (in millions) Total assets: News and Information Services $ 5,288 $ 5,482 Subscription Video Services 3,319 4,406 Book Publishing 2,165 2,074 Digital Real Estate Services 2,166 2,229 Other (a) 1,165 1,185 Investments 325 335 Total assets $ 14,428 $ 15,711 (a) The Other segment primarily includes Cash and cash equivalents.
Reconciliation of Goodwill and Intangible Assets from Segments to Consolidated	As of As of March 31, 2020 June 30, 2019 (in millions) Goodwill and intangible assets, net: News and Information Services $ 2,082 $ 2,617 Subscription Video Services 1,371 2,595 Book Publishing 735 772 Digital Real Estate Services 1,489 1,589 Total Goodwill and intangible assets, net $ 5,677 $ 7,573

Additional Financial Informat_2

Additional Financial Information (Tables)	9 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Components of Receivables, Net	Receivables, net consist of: As of As of March 31, 2020 June 30, 2019 (in millions) Receivables $ 1,295 $ 1,590 Allowance for doubtful accounts (58 ) (46 ) Receivables, net $ 1,237 $ 1,544
Components of Other Current Assets	The following table sets forth the components of Other current assets: As of As of March 31, 2020 June 30, 2019 (in millions) Assets held for sale $ 334 $ — Other 419 515 Total Other current assets $ 753 $ 515
Components of Other Non-Current Assets	The following table sets forth the components of Other non-current As of As of March 31, 2020 June 30, 2019 (in millions) Royalty advances to authors $ 342 $ 343 Retirement benefit assets 137 117 Inventory (a) 134 155 Other 350 315 Total Other non-current $ 963 $ 930 (a) Primarily consists of the non-current
Components of Other Current Liabilities	The following table sets forth the components of Other current liabilities: As of As of March 31, 2020 June 30, 2019 (in millions) Royalties and commissions payable $ 190 $ 211 Current operating lease liabilities (a) 156 — Allowance for sales returns 168 192 Current tax payable 18 22 Liabilities held for sale 190 — Other 257 299 Total Other current liabilities $ 979 $ 724 (a) As a result of the adoption of ASU 2016-02
Components of Other, Net Included in Statements of Operations	The following table sets forth the components of Other, net: For the three months For the nine months March 31, March 31, 2020 2019 2020 2019 (in millions) Dividends received from equity security investments $ 1 $ 1 $ 2 $ 24 Remeasurement of equity securities (17 ) 6 (22 ) (23 ) Gain on sale of businesses (a) 20 — 20 — Gain on sale of Australian property — 2 — 14 Other, net 9 (6 ) 19 15 Total Other, net $ 13 $ 3 $ 19 $ 30 (a) During the three and nine months ended March 31, 2020, REA Group contributed its businesses located in Singapore and Indonesia into a joint venture with 99.co in return for an equity method investment in the combined entity. As a result of the deconsolidation of these entities, REA Group recognized a $20 million gain in Other, net.
Summary of Supplemental Cash Flow Information	The following table sets forth the Company’s cash paid for taxes and interest: For the nine months ended March 31, 2020 2019 (in millions) Cash paid for interest $ 43 $ 67 Cash paid for taxes 93 107

Description of Business and B_3

Description of Business and Basis of presentation (Detail) - USD ($) $ in Millions	3 Months Ended	9 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019	Jun. 30, 2020	Jul. 01, 2019	Jun. 30, 2019
Fiscal period duration		364 days
Operating lease right of use assets		$ 1,191				$ 0
Operating lease liabilities non current		$ 1,249				$ 0
News and Information Services [Member]
Effect of reclassification of expenses	$ 8		$ 23
Digital Real Estate Services [Member]
Effect of reclassification of expenses	$ 1		$ 1
Scenario, Forecast [Member]
Fiscal period duration				364 days
Accounting Standards Update 2016-02 [Member]
Operating lease right of use assets					$ 1,400
Operating lease liabilities,current					200
Operating lease liabilities non current					1,400
Decrease in deferred gain					$ 9

Revenues - Additional Informati

Revenues - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Mar. 31, 2020	Mar. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue from performance obligation	$ 68	$ 222

Revenues - Practical expedients

Revenues - Practical expedients and other revenue disclosures (Detail) $ in Millions	Mar. 31, 2020USD ($)
Revenue from remaining performance obligation	$ 514
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-07-01
Revenue from remaining performance obligation	$ 55
Expected period of performance obligation to be recognized	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-07-01
Revenue from remaining performance obligation	$ 206
Expected period of performance obligation to be recognized	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01
Revenue from remaining performance obligation	$ 102
Expected period of performance obligation to be recognized	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01
Revenue from remaining performance obligation	$ 37
Expected period of performance obligation to be recognized	1 year

Revenues - Summary of Disaggreg

Revenues - Summary of Disaggregated Revenue by Type and by Segment (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Disaggregation of Revenue [Line Items]
Revenues	$ 2,266	$ 2,457	$ 7,085	$ 7,608
Circulation and Subscription [Member]
Disaggregation of Revenue [Line Items]
Revenues	966	1,025	2,951	3,088
Advertising [Member]
Disaggregation of Revenue [Line Items]
Revenues	576	670	1,861	2,052
Consumer [Member]
Disaggregation of Revenue [Line Items]
Revenues	396	403	1,204	1,281
Real Estate [Member]
Disaggregation of Revenue [Line Items]
Revenues	209	218	669	693
Other [Member]
Disaggregation of Revenue [Line Items]
Revenues	119	141	400	494
News and Information Services [Member]
Disaggregation of Revenue [Line Items]
Revenues	1,130	1,224	3,520	3,729
News and Information Services [Member] | Circulation and Subscription [Member]
Disaggregation of Revenue [Line Items]
Revenues	543	538	1,618	1,593
News and Information Services [Member] | Advertising [Member]
Disaggregation of Revenue [Line Items]
Revenues	511	593	1,640	1,801
News and Information Services [Member] | Consumer [Member]
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
News and Information Services [Member] | Real Estate [Member]
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
News and Information Services [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Revenues	76	93	262	335
Subscription Video Services [Member]
Disaggregation of Revenue [Line Items]
Revenues	462	539	1,477	1,666
Subscription Video Services [Member] | Circulation and Subscription [Member]
Disaggregation of Revenue [Line Items]
Revenues	414	474	1,304	1,455
Subscription Video Services [Member] | Advertising [Member]
Disaggregation of Revenue [Line Items]
Revenues	40	50	144	162
Subscription Video Services [Member] | Consumer [Member]
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Subscription Video Services [Member] | Real Estate [Member]
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Subscription Video Services [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Revenues	8	15	29	49
Book Publishing [Member]
Disaggregation of Revenue [Line Items]
Revenues	412	421	1,259	1,335
Book Publishing [Member] | Circulation and Subscription [Member]
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Book Publishing [Member] | Advertising [Member]
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Book Publishing [Member] | Consumer [Member]
Disaggregation of Revenue [Line Items]
Revenues	396	403	1,204	1,281
Book Publishing [Member] | Real Estate [Member]
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Book Publishing [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Revenues	16	18	55	54
Digital Real Estate Services [Member]
Disaggregation of Revenue [Line Items]
Revenues	261	272	827	876
Digital Real Estate Services [Member] | Circulation and Subscription [Member]
Disaggregation of Revenue [Line Items]
Revenues	9	12	28	39
Digital Real Estate Services [Member] | Advertising [Member]
Disaggregation of Revenue [Line Items]
Revenues	25	27	77	89
Digital Real Estate Services [Member] | Consumer [Member]
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Digital Real Estate Services [Member] | Real Estate [Member]
Disaggregation of Revenue [Line Items]
Revenues	209	218	669	693
Digital Real Estate Services [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Revenues	18	15	53	55
Other Services [Member]
Disaggregation of Revenue [Line Items]
Revenues	1	1	2	2
Other Services [Member] | Circulation and Subscription [Member]
Disaggregation of Revenue [Line Items]
Revenues	0	1	1	1
Other Services [Member] | Advertising [Member]
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Other Services [Member] | Consumer [Member]
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Other Services [Member] | Real Estate [Member]
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Other Services [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Revenues	$ 1	$ 0	$ 1	$ 1

Revenues - Summary of Deferred

Revenues - Summary of Deferred Revenue from Contract with Customers (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Deferred Revenue [Abstract]
Balance, beginning of period	$ 411	$ 430	$ 428	$ 510
Deferral of revenue	851	934	2,426	2,271
Recognition of deferred revenue	(807)	(883)	(2,398)	(2,300)
Other	(68)	(21)	(69)	(21)
Balance, end of period	$ 387	$ 460	$ 387	$ 460

Revenues - Summary of Deferre_2

Revenues - Summary of Deferred Revenue from Contract with Customers (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Deferred Revenue Arrangement [Line Items]
Recognition of deferred revenue	$ 807	$ 883	$ 2,398	$ 2,300
News America Marketing [Member]
Deferred Revenue Arrangement [Line Items]
Discontinued Operation, Deferred Revenue	46		46
Deferred Revenue [Member]
Deferred Revenue Arrangement [Line Items]
Recognition of deferred revenue	$ 226	$ 241	$ 371	$ 461

Acquisitions, Disposals and O_3

Acquisitions, Disposals and Other Transactions - Additional Information (Detail) £ in Millions, $ in Millions	May 05, 2020USD ($)	Jan. 31, 2020GBP (£)	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)
Schedule Of Business Acquisitions And Divestitures [Line Items]
Non-cash impairment of goodwill and indefinite-lived intangible assets			$ 1,106		$ 1,398
Income (loss) before income tax expense			(1,046)	$ 30	(1,123)	$ 382
News America Marketing [Member]
Schedule Of Business Acquisitions And Divestitures [Line Items]
Cash consideration received	$ 50
Maximum of total cash consideration receivable			235		235
News America Marketing [Member] | Maximum [Member]
Schedule Of Business Acquisitions And Divestitures [Line Items]
Deferred consideration receivable			185		185
News America Marketing [Member] | Minimum [Member]
Schedule Of Business Acquisitions And Divestitures [Line Items]
Deferred consideration receivable			125		$ 125
News and Information Services [Member] | News America Marketing [Member]
Schedule Of Business Acquisitions And Divestitures [Line Items]
Discontinued Operation, Description and Timing of Disposal					Company entered into a definitive agreement for the sale of its News America Marketing business, a reporting unit within its News and Information Services segment (the “Transaction”), which was completed on May 5, 2020.
Non-cash impairment of goodwill and indefinite-lived intangible assets			175		$ 175
Income (loss) before income tax expense			$ (154)	$ 29	$ (404)	$ 46
News and Information Services [Member] | News America Marketing [Member] | Common Stock [Member]
Schedule Of Business Acquisitions And Divestitures [Line Items]
Ownership interest acquired at closing					5.00%
News and Information Services [Member] | News America Marketing [Member] | Warrant [Member]
Schedule Of Business Acquisitions And Divestitures [Line Items]
Ownership interest to be acquired					10.00%
Unruly [Member]
Schedule Of Business Acquisitions And Divestitures [Line Items]
Ownership Percentage Acquired On Transfer		7.00%
Lockup On tremor shares		18 months
Unruly [Member] | Guarantee of Business Revenue [Member]
Schedule Of Business Acquisitions And Divestitures [Line Items]
Minimum Guarantee Revenue | £		£ 30

Acquisitions, Disposals and O_4

Acquisitions, Disposals and Other Transactions - Schedule Of Class Of Assets And Liabilities Held For Sale Included In Other Current Assets and Liabilities In Balance Sheet (Detail) - USD ($) $ in Millions	Mar. 31, 2020	Jun. 30, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total assets held for sale	$ 334	$ 0
Discontinued Operations, Held-for-sale [Member] | News America Marketing [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash and cash equivalents	10
Receivables, net	217
Other current assets	28
Intangible assets, net	225
Other non-current assets	29
Impairment charge on disposal group	(175)
Total assets held for sale	334
Accounts payable	13
Accrued expenses	69
Deferred revenue	46
Other current liabilities	54
Other non-current liabilities	8
Total liabilities	$ 190

Impairment and Restructuring _3

Impairment and Restructuring Charges - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Mar. 31, 2020	Sep. 30, 2019	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Restructuring Charges	$ 19		$ 25	$ 53	$ 62
Non-cash impairment of goodwill and indefinite-lived intangible assets	1,106			1,398
Foxtel [Member]
Non-cash impairment of goodwill and indefinite-lived intangible assets	931			931
Non-cash impairment charge of goodwill				882
Non-cash impairment charge for indefinite-lived intangible assets				$ 49
Long-term growth rates				2.00%
Royalty rate				1.50%
EBITDA multiples rate				10.00%
Maximum [Member] | Foxtel [Member]
Discount rates				11.50%
Minimum [Member] | Foxtel [Member]
Discount rates				10.50%
News and Information Services [Member]
Restructuring Charges	15		$ 23	$ 41	$ 55
News and Information Services [Member] | News America Marketing [Member]
Non-cash impairment of goodwill and indefinite-lived intangible assets	175			175
Non-cash impairment charge of goodwill		$ 122		235
Non-cash impairment charge for indefinite-lived intangible assets		$ 113
News and Information Services [Member] | Maximum [Member] | News America Marketing [Member]
Discount rates		18.50%
Long-term growth rates		1.50%
News and Information Services [Member] | Minimum [Member] | News America Marketing [Member]
Discount rates		17.00%
Long-term growth rates		0.60%
Other Current Liabilities [Member]
Restructuring liabilities, current	18			18
Other Noncurrent Liabilities [Member]
Restructuring liabilities, non-current	$ 9			$ 9

Impairment and Restructuring _4

Impairment and Restructuring Charges - Schedule of Changes in Restructuring Program Liabilities (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Restructuring Cost and Reserve [Line Items]
Restructuring Liabilities, Beginning Balance	$ 25	$ 33	$ 40	$ 42
Additions	19	25	53	62
Payments	(17)	(18)	(64)	(63)
Other			(2)	(1)
Restructuring Liabilities, Ending Balance	27	40	27	40
One Time Employee Termination Benefits [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Liabilities, Beginning Balance	16	20	28	29
Additions	19	25	53	62
Payments	(17)	(17)	(63)	(61)
Other			0	(2)
Restructuring Liabilities, Ending Balance	18	28	18	28
Facility Related Costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Liabilities, Beginning Balance	0	2	2	2
Additions	0	0	0	0
Payments	0	0	0	0
Other			(2)	0
Restructuring Liabilities, Ending Balance	0	2	0	2
Other Costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Liabilities, Beginning Balance	9	11	10	11
Additions	0	0	0	0
Payments	0	(1)	(1)	(2)
Other			0	1
Restructuring Liabilities, Ending Balance	$ 9	$ 10	$ 9	$ 10

Investments - Schedule of Inves

Investments - Schedule of Investments (Detail) - USD ($) $ in Millions	Mar. 31, 2020	Jun. 30, 2019
Schedule of Investments [Abstract]
Equity method investments	$ 146	$ 148
Equity securities	179	187
Total Investments	$ 325	$ 335

Investments - Schedule of Total

Investments - Schedule of Total Gains and Losses on Equity Securities (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Schedule of Investments [Abstract]
Total (losses) gains recognized on equity securities	$ (17)	$ 6	$ (22)	$ (23)
Less: Net gains recognized on equity securities sold	0	0	0	0
Unrealized (losses) gains recognized on equity securities held at end of period	$ (17)	$ 6	$ (22)	$ (23)

Investments - Additional Inform

Investments - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Schedule of Investments [Abstract]
Equity losses of affiliates	$ 7	$ 4	$ 12	$ 13

Borrowings - Schedule of Borrow

Borrowings - Schedule of Borrowings (Detail) - USD ($) $ in Millions		9 Months Ended
		Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019
Debt and Financial Instruments [Line Items]
Total borrowings	[1]	$ 1,115		$ 1,453
Less: current portion	[2]	0		(449)
Long-term borrowings		1,115		1,004
Credit Facility 2014 Tranche 2 [Member] | Foxtel [Member]
Debt and Financial Instruments [Line Items]
Total borrowings	[3]	$ 0		56
Interest rate	[3]	0.00%
Maturity	[3]	Jan. 31, 2020
Credit Facility 2015 [Member] | Foxtel [Member]
Debt and Financial Instruments [Line Items]
Total borrowings	[3]	$ 0		281
Interest rate	[3]	0.00%
Maturity	[3]	Jul. 31, 2020
Credit Facility 2016 [Member] | Foxtel [Member]
Debt and Financial Instruments [Line Items]
Total borrowings	[3]	$ 0		193
Interest rate	[3]	0.00%
Maturity	[3]	Sep. 11, 2021
Working Capital Facility 2017 [Member] | Foxtel [Member]
Debt and Financial Instruments [Line Items]
Total borrowings	[3],[4],[5],[6]	$ 18		56
Interest rate	[3],[4],[5],[6]	3.79%
Maturity	[3],[4],[5],[6]	Nov. 22, 2022
US Private Placement 2009 Tranche 3 [Member] | Foxtel [Member]
Debt and Financial Instruments [Line Items]
Total borrowings	[7]	$ 0		75
Interest rate	[7]	0.00%
Maturity	[7]	Sep. 24, 2019
US Private Placement 2012 USD Portion Tranche 1 [Member] | Foxtel [Member]
Debt and Financial Instruments [Line Items]
Total borrowings	[7]	$ 0		150
Interest rate	[7]	0.00%
Maturity	[7]	Jul. 25, 2019
US Private Placement 2012 USD Portion Tranche 2 [Member] | Foxtel [Member]
Debt and Financial Instruments [Line Items]
Total borrowings	[8]	$ 201		199
Interest rate	[8]	4.27%
Maturity	[8]	Jul. 25, 2022
US Private Placement 2012 USD Portion Tranche 3 [Member] | Foxtel [Member]
Debt and Financial Instruments [Line Items]
Total borrowings	[8]	$ 152		149
Interest rate	[8]	4.42%
Maturity	[8]	Jul. 25, 2024
US Private Placement 2012 AUD Portion [Member] | Foxtel [Member]
Debt and Financial Instruments [Line Items]
Total borrowings		$ 66		77
Interest rate		7.04%
Maturity		Jul. 25, 2022
Credit Facility Fiscal 2016 Tranche 3 [Member] | REA Group Inc [Member]
Debt and Financial Instruments [Line Items]
Total borrowings	[9]	$ 0		168
Interest rate	[9]	0.00%
Maturity	[9]	Dec. 31, 2019
Credit Facility Fiscal 2018 [Member] | REA Group Inc [Member]
Debt and Financial Instruments [Line Items]
Total borrowings	[10]	$ 43		49
Interest rate	[10]	1.82%
Maturity	[10]	Apr. 27, 2021
Credit facility 2019 [Member] | Foxtel [Member]
Debt and Financial Instruments [Line Items]
Total borrowings	[5],[11]	$ 376		0
Interest rate	[5],[11]	3.79%
Maturity	[5],[11]	Nov. 22, 2022
Credit facility 2019 [Member] | REA Group Inc [Member]
Debt and Financial Instruments [Line Items]
Total borrowings	[10],[12]	$ 105		0
Interest rate	[10],[12]	1.66%
Maturity	[10],[12]	Dec. 2, 2021
Term loan facility 2019 [Member] | Foxtel [Member]
Debt and Financial Instruments [Line Items]
Total borrowings	[13]	$ 154		$ 0
Interest rate	[13]	6.25%
Maturity	[13]	Nov. 22, 2024
Telstra Facility [Member] | Foxtel [Member]
Debt and Financial Instruments [Line Items]
Total borrowings	[14]	$ 0	$ 0
Interest rate	[14]	8.23%
Maturity	[14]	Dec. 22, 2027
[1]	The Company’s outstanding borrowings as of March 31, 2020 were incurred by Foxtel and REA Group, consolidated but non wholly-owned subsidiaries of News Corp. These borrowings are only guaranteed by Foxtel and REA Group and their respective subsidiaries, as applicable, and are non-recourse to News Corp.
[2]	The Company classifies the current portion of long term debt as non-current liabilities on the Balance Sheets when it has the intent and ability to refinance the obligation on a long-term basis, in accordance with ASC 470-50, “Debt.”
[3]	During November 2019, certain subsidiaries of NXE Australia Pty Limited (“Foxtel” and together with such subsidiaries, the “Foxtel Debt Group”) repaid the outstanding borrowings under these facilities using a combination of new indebtedness and an A$200 million shareholder loan provided by the Company.
[4]	As of March 31, 2020, the Foxtel Debt Group has undrawn commitments of A$2 million under this facility for which it pays a commitment fee of 45% of the applicable margin.
[5]	Borrowings under these facilities bear interest at a floating rate of the Australian BBSY plus an applicable margin of between 2.00% and 3.75% per annum depending on the Foxtel Debt Group’s net leverage ratio.
[6]	During November 2019, the Foxtel Debt Group amended its 2017 Working Capital Facility which, among other things, extended the remaining term to three years, decreased the capacity under the facility from A$100 million to A$40 million and increased the applicable margin.
[7]	During the first quarter of fiscal 2020, the Foxtel Debt Group repaid $150 million aggregate principal amount of senior unsecured notes which matured in July 2019 and $75 million aggregate principal amount of senior unsecured notes which matured in September 2019.
[8]	The carrying values of the borrowings include any fair value adjustments related to the Company’s fair value hedges. See Note 9 —Financial Instruments and Fair Value Measurements.
[9]	During December 2019, REA Group repaid the final A$240 million tranche of its A$480 million revolving loan facility using a combination of cash on hand and new indebtedness.
[10]	Borrowings under these facilities bear interest at a floating rate of the Australian BBSY plus a margin of between 0.85% and 1.40% depending on REA Group’s net leverage ratio.
[11]	During November 2019, the Foxtel Debt Group entered into an A$610 million revolving credit facility maturing in November 2022 (the “2019 Credit Facility”).
[12]	During December 2019, REA Group entered into an A$170 million unsecured syndicated revolving loan facility maturing in December 2021 (the “2019 REA Group Credit Facility”).
[13]	During November 2019, the Foxtel Debt Group entered into an A$250 million term loan facility maturing in November 2024 (the “2019 Term Loan Facility”). Borrowings under the 2019 Term Loan Facility bear interest at a fixed rate of 6.25% per annum.
[14]	In February 2020, the Foxtel Debt Group entered into an A$170 million subordinated shareholder loan facility agreement (the “Telstra Facility”) that can be used to finance cable transmission costs. The Telstra Facility bears interest at a variable rate of Australian BBSY plus a margin of 7.75%.

Borrowings - Schedule of Borr_2

Borrowings - Schedule of Borrowings (Parenthetical) (Detail) - AUD ($) $ in Millions	1 Months Ended			9 Months Ended
	Feb. 29, 2020	Dec. 31, 2019	Nov. 30, 2019	Mar. 31, 2020
Foxtel [Member] | Credit Facility Fiscal 2019 (Member)
Debt and Financial Instruments [Line Items]
Line of credit maximum borrowing capacity			$ 610
Line of credit facility maturity date			Nov. 30, 2022
Foxtel [Member] | Share Holders Loan [Member]
Debt and Financial Instruments [Line Items]
Proceeds from shareholder loans			$ 200
Foxtel [Member] | Term Loan Facility 2019 [Member]
Debt and Financial Instruments [Line Items]
Term loan maximum borrowing capacity			$ 250
Debt Instrument, Maturity Date			Nov. 30, 2024
Debt instrument fixed interest rate			6.25%
US Private Placement 2012 USD Portion Tranche 1 [Member] | Foxtel [Member]
Debt and Financial Instruments [Line Items]
Debt paid				$ 75
Debt Instrument, Maturity Date				Sep. 30, 2019
US Private Placement 2009 Tranche 3 [Member] | Foxtel [Member]
Debt and Financial Instruments [Line Items]
Debt paid				$ 150
Debt Instrument, Maturity Date				Jul. 31, 2019
Facility Due December 2019 [Member] | Minimum [Member] | Australian BBSY [Member]
Debt and Financial Instruments [Line Items]
Interest rate margin		0.85%
Facility Due December 2019 [Member] | Maximum [Member] | Australian BBSY [Member]
Debt and Financial Instruments [Line Items]
Interest rate margin		1.40%
Facility Due December 2019 [Member] | REA Group [Member]
Debt and Financial Instruments [Line Items]
Line of credit maximum borrowing capacity		$ 480
Repayments of lines of credit		240
Facility Due December 2019 [Member] | REA Group [Member] | Unsecured Revolving Credit Facility [Member]
Debt and Financial Instruments [Line Items]
Line of credit maximum borrowing capacity		$ 170
Line of credit facility maturity date		Dec. 31, 2021
Credit facility 2019 [Member] | REA Group [Member] | Minimum [Member] | Australian BBSY [Member]
Debt and Financial Instruments [Line Items]
Interest rate margin		0.85%
Credit facility 2019 [Member] | REA Group [Member] | Maximum [Member] | Australian BBSY [Member]
Debt and Financial Instruments [Line Items]
Interest rate margin		1.40%
Credit Facility Fiscal 2019 (Member) | Foxtel [Member] | Minimum [Member] | Australian BBSY [Member]
Debt and Financial Instruments [Line Items]
Interest rate margin				2.00%
Credit Facility Fiscal 2019 (Member) | Foxtel [Member] | Maximum [Member] | Australian BBSY [Member]
Debt and Financial Instruments [Line Items]
Interest rate margin				3.75%
Working capital facility 2017 Amended [Member] | Foxtel [Member]
Debt and Financial Instruments [Line Items]
Line of credit maximum borrowing capacity			$ 100
Debt instrument unused borrowing capacity percentage fee				45.00%
Working capital facility			$ 40
Debt instrument term			3 years
Working capital facility 2017 Amended [Member] | Foxtel [Member] | Unsecured Revolving Credit Facility [Member]
Debt and Financial Instruments [Line Items]
Debt instrument unused borrowing capacity				$ 2
Telstra Facility [Member]
Debt and Financial Instruments [Line Items]
Interest rate margin	7.75%
Subordinated shareholders loan facility maximum capacity	$ 170

Borrowings - Additional Informa

Borrowings - Additional Information (Detail) $ in Millions, $ in Millions

Mar. 31, 2020USD ($)

Jan. 01, 2020

Apr. 30, 2020AUD ($)

Mar. 31, 2020USD ($)

Feb. 29, 2020USD ($)

Dec. 31, 2019AUD ($)

Nov. 30, 2019AUD ($)

Mar. 31, 2020AUD ($)

Dec. 31, 2019USD ($)

Dec. 31, 2019AUD ($)

Jun. 30, 2019USD ($)

Debt Instrument [Line Items]

Total borrowings

[1]

$ 1,115

$ 1,115

$ 1,453

Interest coverage ratio

3.00%

REA Group [Member]

Debt Instrument [Line Items]

Operating income leverage ratio

3.25%

Restricted cash

$ 50

REA Group [Member] | Credit facility 2019 [Member]

Debt Instrument [Line Items]

Debt instrument unused borrowing capacity percentage fee

50.00%

Foxtel [Member] | Fiscal Year Two Thousand And Twenty One [Member]

Debt Instrument [Line Items]

Operating income leverage ratio

3.50%

Foxtel [Member] | Fiscal Year Two Thousand And Twenty Two [Member]

Debt Instrument [Line Items]

Operating income leverage ratio

3.25%

Foxtel [Member] | Share Holders Loan [Member]

Debt Instrument [Line Items]

Proceeds from shareholder loans

$ 200

Foxtel [Member] | Term Loan Facility 2019 [Member]

Debt Instrument [Line Items]

Operating income leverage ratio

3.75%

Interest coverage ratio

3.50%

Debt instrument fixed interest rate

6.25%

6.25%

6.25%

6.25%

Proceeds from long term line of credit

$ 250

Foxtel [Member] | Term Loan Facility 2019 [Member] | Fiscal Year Two Thousand And Twenty One [Member]

Debt Instrument [Line Items]

Operating income leverage ratio

3.50%

Foxtel [Member] | Credit facility 2019 [Member]

Debt Instrument [Line Items]

Percentage of applicable margin payable as commitment fee

45.00%

Proceeds from term loan facilities

$ 610

Foxtel [Member] | Credit facility 2019 [Member] | Fiscal Year Two Thousand And Twenty One [Member]

Debt Instrument [Line Items]

Operating income leverage ratio

3.50%

Foxtel [Member] | Credit facility 2019 [Member] | Fiscal 2020 [Member]

Debt Instrument [Line Items]

Operating income leverage ratio

3.75%

Foxtel [Member] | Telstra Facility [Member]

Debt Instrument [Line Items]

Telstras Ownership Percentage Of Foxtel

35.00%

Foxtel [Member] | Telstra Facility [Member] | Australian BBSY [Member]

Debt Instrument [Line Items]

Due date

Dec. 31, 2027

Unsecured revolving credit facility available amount

$ 170

Interest rate margin

7.75%

Foxtel [Member] | Revolving Credit Facility [Member]

Debt Instrument [Line Items]

Repayment of revolving credit facility

1,100

Maximum [Member] | REA Group [Member]

Debt Instrument [Line Items]

Operating income leverage ratio

4.00%

Maximum [Member] | REA Group [Member] | Credit facility 2019 [Member] | Australian BBSY [Member]

Debt Instrument [Line Items]

Interest rate margin

2.00%

Maximum [Member] | Foxtel [Member] | Credit facility 2019 [Member] | Australian BBSY [Member]

Debt Instrument [Line Items]

Interest rate margin

3.75%

Minimum [Member] | REA Group [Member] | Credit facility 2019 [Member] | Australian BBSY [Member]

Debt Instrument [Line Items]

Interest rate margin

0.85%

Minimum [Member] | Foxtel [Member] | Credit facility 2019 [Member] | Australian BBSY [Member]

Debt Instrument [Line Items]

Interest rate margin

2.00%

Facility Due December 2019 [Member] | Maximum [Member] | Australian BBSY [Member]

Debt Instrument [Line Items]

Interest rate margin

1.40%

Facility Due December 2019 [Member] | Minimum [Member] | Australian BBSY [Member]

Debt Instrument [Line Items]

Interest rate margin

0.85%

Credit Facility Two Thousand Fourteen [Member] | Foxtel [Member]

Debt Instrument [Line Items]

Repayment of revolving credit facility

200

Due date

Jan. 1, 2020

Credit Facility Two Thousand Fifteen [Member] | Foxtel [Member]

Debt Instrument [Line Items]

Total borrowings

[2]

$ 0

$ 0

281

Repayment of revolving credit facility

400

Due date

[2]

Jul. 31, 2020

Debt instrument fixed interest rate

[2]

0.00%

0.00%

Credit Facility Two Thousand Sixteen [Member] | Foxtel [Member]

Debt Instrument [Line Items]

Total borrowings

[2]

$ 0

$ 0

193

Repayment of revolving credit facility

400

Due date

[2]

Sep. 11, 2021

Debt instrument fixed interest rate

[2]

0.00%

0.00%

Working Capital Facility 2017 [Member] | Foxtel [Member]

Debt Instrument [Line Items]

Total borrowings

[2],[3],[4],[5]

$ 18

$ 18

$ 56

Due date

[2],[3],[4],[5]

Nov. 22, 2022

Debt instrument fixed interest rate

[2],[3],[4],[5]

3.79%

3.79%

Working Capital Facility Capacity

100

Facility Due December Two Zero One Nine [Member] | REA Group [Member]

Debt Instrument [Line Items]

Repayment of revolving credit facility

$ 240

Unsecured revolving credit facility maximum capacity

$ 480

Percentage of applicable margin payable as commitment fee

40.00%

Proceeds from term loan facilities

$ 170

Facility Due December Two Zero One Nine [Member] | Maximum [Member] | REA Group [Member]

Debt Instrument [Line Items]

Operating income leverage ratio

3.25%

Facility Due December Two Zero One Nine [Member] | Maximum [Member] | REA Group [Member] | Australian BBSY [Member]

Debt Instrument [Line Items]

Interest rate margin

1.30%

Facility Due December Two Zero One Nine [Member] | Minimum [Member] | REA Group [Member] | Australian BBSY [Member]

Debt Instrument [Line Items]

Interest rate margin

0.85%

News Corp Two Thousand And Nineteen Credit Agreement [Member] | Revised Line Of Credit Facility [Member]

Debt Instrument [Line Items]

Operating income leverage ratio

3.00%

News Corp Two Thousand And Nineteen Credit Agreement [Member] | Unsecured Revolving Credit Facility [Member]

Debt Instrument [Line Items]

Letters of credit sublimit under credit facility

$ 100

Unsecured revolving credit facility maximum capacity

750

News Corp Two Thousand And Nineteen Credit Agreement [Member] | Unsecured Revolving Credit Facility [Member] | Revised Line Of Credit Facility [Member]

Debt Instrument [Line Items]

Interest coverage ratio

3.00%

Unsecured revolving credit facility maximum capacity

1,000

Percentage of applicable margin payable as commitment fee

0.20%

Line of credit facility maturity date

Dec. 12, 2024

News Corp Two Thousand And Nineteen Credit Agreement [Member] | Unsecured Revolving Credit Facility [Member] | Base Rate [Member] | Revised Line Of Credit Facility [Member]

Debt Instrument [Line Items]

Interest rate margin

0.375%

News Corp Two Thousand And Nineteen Credit Agreement [Member] | Unsecured Revolving Credit Facility [Member] | Eurodollar [Member] | Revised Line Of Credit Facility [Member]

Debt Instrument [Line Items]

Interest rate margin

1.375%

Credit Agreement [Member] | Unsecured Revolving Credit Facility [Member]

Debt Instrument [Line Items]

Unsecured revolving credit facility available amount

$ 650

Working capital facility 2017 Amended [Member] | Foxtel [Member]

Debt Instrument [Line Items]

Working Capital Facility Amended Capacity

$ 40

Debt instrument term

3 years

Working capital facility april two thousand twenty [Member] | REA Group [Member]

Debt Instrument [Line Items]

Total borrowings

$ 148.5

Due date

Dec. 2, 2021

Debt instrument unused borrowing capacity percentage fee

50.00%

Working capital facility april two thousand twenty [Member] | Maximum [Member] | REA Group [Member] | Australian BBSY [Member]

Debt Instrument [Line Items]

Interest rate margin

2.75%

Working capital facility april two thousand twenty [Member] | Minimum [Member] | REA Group [Member] | Australian BBSY [Member]

Debt Instrument [Line Items]

Interest rate margin

2.00%

Overdraft facility [Member]

Debt Instrument [Line Items]

Borrowings discount rate

4.22%

Overdraft facility [Member] | REA Group [Member] | Subsequent Event [Member]

Debt Instrument [Line Items]

Unsecured revolving credit facility maximum capacity

$ 20

Annual facility fee

0.15%

[1]

The Company’s outstanding borrowings as of March 31, 2020 were incurred by Foxtel and REA Group, consolidated but non wholly-owned subsidiaries of News Corp. These borrowings are only guaranteed by Foxtel and REA Group and their respective subsidiaries, as applicable, and are non-recourse to News Corp.

[2]

During November 2019, certain subsidiaries of NXE Australia Pty Limited (“Foxtel” and together with such subsidiaries, the “Foxtel Debt Group”) repaid the outstanding borrowings under these facilities using a combination of new indebtedness and an A$200 million shareholder loan provided by the Company.

[3]

As of March 31, 2020, the Foxtel Debt Group has undrawn commitments of A$2 million under this facility for which it pays a commitment fee of 45% of the applicable margin.

[4]

Borrowings under these facilities bear interest at a floating rate of the Australian BBSY plus an applicable margin of between 2.00% and 3.75% per annum depending on the Foxtel Debt Group’s net leverage ratio.

[5]

During November 2019, the Foxtel Debt Group amended its 2017 Working Capital Facility which, among other things, extended the remaining term to three years, decreased the capacity under the facility from A$100 million to A$40 million and increased the applicable margin.

Leases - Schedule of total leas

Leases - Schedule of total lease cost for operating leases (Detail) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Mar. 31, 2020	Mar. 31, 2020
Total lease costs	$ 63	$ 192
Selling, general and administrative [Member]
Operating lease costs	50	149
Variable Lease costs	10	29
Operating Expense [Member]
Operating lease costs	1	7
Short term lease costs	$ 2	$ 7

Leases - Schedule of Additional

Leases - Schedule of Additional Information Related To Operating Lease (Detail) - Accounting Standards Update 2016-02 [Member] $ in Millions	9 Months Ended
	Mar. 31, 2020USD ($)
Weighted-average remaining lease term	11 years 3 months 18 days
Weighted-average incremental borrowing rate	3.27%
Cash paid - Operating lease liabilities	$ 175
Operating lease right-of-use asset obtained in exchange for operating lease liabilities	$ 225

Leases - Schedule of Future min

Leases - Schedule of Future minimum lease payments under non-cancellable leases (Detail) $ in Millions	Mar. 31, 2020USD ($)
Fiscal 2020 (three months remaining)	$ 54
Fiscal 2021	190
Fiscal 2022	193
Fiscal 2023	182
Fiscal 2024	168
Thereafter	935
Total future minimum lease payments	1,722
Less: interest	317
Present value of minimum payments	$ 1,405

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($) $ in Millions	Jul. 01, 2019	Mar. 31, 2020	Jun. 30, 2019
Operating lease right of use assets		$ 1,191	$ 0
Short term lease term		12 months
Operating lease liabilities non current		$ 1,249	$ 0
Accounting Standards Update 2016-02 [Member]
Operating lease right of use assets	$ 1,400
Operating lease liabilities,current	200
Operating lease liabilities non current	1,400
Adjustment to retained earnings	$ 9

Equity - Summary of Changes in

Equity - Summary of Changes in Equity (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Changes In Equity [Line Items]
Beginning balance	$ 10,127	$ 10,434	$ 10,311	$ 10,477
Cumulative impact from adoption of new standards			9	20
Net (loss) income	(1,036)	23	(1,144)	270
Other comprehensive (loss) income	(460)	67	(462)	(170)
Dividends	(78)	(78)	(159)	(160)
Other	15	12	13	21
Ending balance	$ 8,568	10,458	$ 8,568	10,458
Class A Common Stock [Member]
Changes In Equity [Line Items]
Beginning balance, shares			385,580,015
Ending balance, shares	388,843,519		388,843,519
Class B Common Stock [Member]
Changes In Equity [Line Items]
Beginning balance, shares			199,630,240
Ending balance, shares	199,630,240		199,630,240
Common Stock [Member] | Class A Common Stock [Member]
Changes In Equity [Line Items]
Beginning balance	$ 4	$ 4	$ 4	$ 4
Beginning balance, shares	389,000,000	385,000,000	386,000,000	383,000,000
Cumulative impact from adoption of new standards			$ 0	$ 0
Net (loss) income	$ 0	$ 0	0	0
Other comprehensive (loss) income	0	0	0	0
Dividends	0	0	0	0
Other	$ 0	$ 0	$ 0	$ 0
Other, Shares	0	0	3,000,000	2,000,000
Ending balance	$ 4	$ 4	$ 4	$ 4
Ending balance, shares	389,000,000	385,000,000	389,000,000	385,000,000
Common Stock [Member] | Class B Common Stock [Member]
Changes In Equity [Line Items]
Beginning balance	$ 2	$ 2	$ 2	$ 2
Beginning balance, shares	200,000,000	200,000,000	200,000,000	200,000,000
Cumulative impact from adoption of new standards			$ 0	$ 0
Net (loss) income	$ 0	$ 0	0	0
Other comprehensive (loss) income	0	0	0	0
Dividends	0	0	0	0
Other	$ 0	$ 0	$ 0	$ 0
Other, Shares	0	0	0	0
Ending balance	$ 2	$ 2	$ 2	$ 2
Ending balance, shares	200,000,000	200,000,000	200,000,000	200,000,000
Additional Paid-in Capital [Member]
Changes In Equity [Line Items]
Beginning balance	$ 12,183	$ 12,271	$ 12,243	$ 12,322
Cumulative impact from adoption of new standards			0	0
Net (loss) income	0	0	0	0
Other comprehensive (loss) income	0	0	0	0
Dividends	(59)	(58)	(118)	(117)
Other	13	16	12	24
Ending balance	12,137	12,229	12,137	12,229
Accumulated Deficit [Member]
Changes In Equity [Line Items]
Beginning balance	(2,114)	(1,937)	(1,979)	(2,163)
Cumulative impact from adoption of new standards			6	32
Net (loss) income	(730)	10	(872)	206
Other comprehensive (loss) income	0	0	0	0
Dividends	0	0	0	0
Other	(1)	0	0	(2)
Ending balance	(2,845)	(1,927)	(2,845)	(1,927)
Accumulated Other Comprehensive Loss [Member]
Changes In Equity [Line Items]
Beginning balance	(1,117)	(1,076)	(1,126)	(874)
Cumulative impact from adoption of new standards			3	(22)
Net (loss) income	0	0	0	0
Other comprehensive (loss) income	(351)	57	(344)	(124)
Dividends	0	0	0	0
Other	2	0	1	1
Ending balance	(1,466)	(1,019)	(1,466)	(1,019)
Total News Corporation Equity
Changes In Equity [Line Items]
Beginning balance	8,958	9,264	9,144	9,291
Cumulative impact from adoption of new standards			9	10
Net (loss) income	(730)	10	(872)	206
Other comprehensive (loss) income	(351)	57	(344)	(124)
Dividends	(59)	(58)	(118)	(117)
Other	14	16	13	23
Ending balance	7,832	9,289	7,832	9,289
Noncontrolling Interest [Member]
Changes In Equity [Line Items]
Beginning balance	1,169	1,170	1,167	1,186
Cumulative impact from adoption of new standards			0	10
Net (loss) income	(306)	13	(272)	64
Other comprehensive (loss) income	(109)	10	(118)	(46)
Dividends	(19)	(20)	(41)	(43)
Other	1	(4)	0	(2)
Ending balance	$ 736	$ 1,169	$ 736	$ 1,169

Equity - Additional Information

Equity - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Millions	Nov. 01, 2019	Feb. 29, 2020	Mar. 31, 2020	Mar. 31, 2019	May 31, 2013
Class of Stock [Line Items]
Cash dividends per common share, date of dividend payable		Apr. 15, 2020
Cash dividends per common share, date of record for dividend		Mar. 11, 2020
Class A Common Stock [Member]
Class of Stock [Line Items]
Number of shares repurchased	5.2
Remaining authorized amount under stock repurchase program	$ 429,000,000
Aggregate amount of shares authorized to be repurchased					$ 500,000,000
Aggregate cost of shares repurchased	$ 71,000,000
Shares Repurchased During period			0	0
Cash dividends declared per share of common stock		$ 0.10
Class B Common Stock [Member]
Class of Stock [Line Items]
Shares Repurchased During period			0	0
Cash dividends declared per share of common stock		$ 0.10

Financial Instruments and Fai_3

Financial Instruments and Fair Value Measurements - Summary of Assets and Liabilities Measured At Fair Value on Recurring Basis (Detail) - USD ($) $ in Millions	Mar. 31, 2020	Jun. 30, 2019
Assets:
Equity securities	$ 179	$ 187
Fair Value, Measurements, Recurring [Member]
Assets:
Equity securities	179	187
Total assets	333	345
Liabilities:
Mandatorily redeemable noncontrolling interests	0	11
Total liabilities	32	49
Fair Value, Measurements, Recurring [Member] | Foreign Currency Derivatives [Member] | Cash Flow Hedging [Member]
Assets:
Derivative assets	4	1
Fair Value, Measurements, Recurring [Member] | Cross Currency Interest Rate Derivatives [Member] | Fair Value Hedging [Member]
Assets:
Derivative assets	30	29
Fair Value, Measurements, Recurring [Member] | Cross Currency Interest Rate Derivatives [Member] | Not Designated as Hedging Instrument, Economic Hedge [Member]
Assets:
Derivative assets	0	12
Fair Value, Measurements, Recurring [Member] | Cross Currency Interest Rate Derivatives [Member] | Cash Flow Hedging [Member]
Assets:
Derivative assets	120	116
Liabilities:
Derivative liabilities	17	18
Fair Value, Measurements, Recurring [Member] | Interest Rate Contract [Member] | Cash Flow Hedging [Member]
Liabilities:
Derivative liabilities	15	20
Fair Value, Measurements, Recurring [Member] | Level 1 [Member]
Assets:
Equity securities	54	74
Total assets	54	74
Liabilities:
Mandatorily redeemable noncontrolling interests	0	0
Total liabilities	0	0
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Foreign Currency Derivatives [Member] | Cash Flow Hedging [Member]
Assets:
Derivative assets	0	0
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Cross Currency Interest Rate Derivatives [Member] | Fair Value Hedging [Member]
Assets:
Derivative assets	0	0
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Cross Currency Interest Rate Derivatives [Member] | Not Designated as Hedging Instrument, Economic Hedge [Member]
Assets:
Derivative assets	0	0
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Cross Currency Interest Rate Derivatives [Member] | Cash Flow Hedging [Member]
Assets:
Derivative assets	0	0
Liabilities:
Derivative liabilities	0	0
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Interest Rate Contract [Member] | Cash Flow Hedging [Member]
Liabilities:
Derivative liabilities	0	0
Fair Value, Measurements, Recurring [Member] | Level 2 [Member]
Assets:
Equity securities	0	0
Total assets	154	158
Liabilities:
Mandatorily redeemable noncontrolling interests	0	0
Total liabilities	32	38
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Foreign Currency Derivatives [Member] | Cash Flow Hedging [Member]
Assets:
Derivative assets	4	1
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Cross Currency Interest Rate Derivatives [Member] | Fair Value Hedging [Member]
Assets:
Derivative assets	30	29
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Cross Currency Interest Rate Derivatives [Member] | Not Designated as Hedging Instrument, Economic Hedge [Member]
Assets:
Derivative assets	0	12
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Cross Currency Interest Rate Derivatives [Member] | Cash Flow Hedging [Member]
Assets:
Derivative assets	120	116
Liabilities:
Derivative liabilities	17	18
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Interest Rate Contract [Member] | Cash Flow Hedging [Member]
Liabilities:
Derivative liabilities	15	20
Fair Value, Measurements, Recurring [Member] | Level 3 [Member]
Assets:
Equity securities	125	113
Total assets	125	113
Liabilities:
Mandatorily redeemable noncontrolling interests	0	11
Total liabilities	0	11
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Foreign Currency Derivatives [Member] | Cash Flow Hedging [Member]
Assets:
Derivative assets	0	0
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Cross Currency Interest Rate Derivatives [Member] | Fair Value Hedging [Member]
Assets:
Derivative assets	0	0
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Cross Currency Interest Rate Derivatives [Member] | Not Designated as Hedging Instrument, Economic Hedge [Member]
Assets:
Derivative assets	0	0
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Cross Currency Interest Rate Derivatives [Member] | Cash Flow Hedging [Member]
Assets:
Derivative assets	0	0
Liabilities:
Derivative liabilities	0	0
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Interest Rate Contract [Member] | Cash Flow Hedging [Member]
Liabilities:
Derivative liabilities	$ 0	$ 0

Financial Instruments and Fai_4

Financial Instruments and Fair Value Measurements - Summary of Equity Securities Classified as Level 3 (Detail) - Equity Securities [Member] - USD ($) $ in Millions	9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance - beginning of period	$ 113	$ 127
Additions	17	7
Sales	0	(10)
Measurement adjustments	(3)	0
Foreign exchange and other	(2)	(9)
Balance - end of period	$ 125	$ 115

Financial Instruments and Fai_5

Financial Instruments and Fair Value Measurements - Summary of Mandatorily Redeemable Noncontrolling Interest Liabilities Classified Level 3 (Detail) - Financial Instruments Subject To Mandatory Redemption Settlement Terms Share Value [Member] - USD ($) $ in Millions	9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance - beginning of period	$ 12	$ 12
Payments	(11)	0
Accretion	0	1
Foreign exchange movements	0	(1)
Other	(1)	0
Balance - end of period	$ 0	$ 12

Financial Instruments and Fai_6

Financial Instruments and Fair Value Measurements - Summary of Mandatorily Redeemable Noncontrolling Interest Liabilities Classified Level 3 (Parenthetical) (Detail) - R E A Group Limited [Member] - Smartline Home Loans Pty Limited [Member] $ in Millions	Jul. 01, 2019AUD ($)
Remaining percentage of minority interest	19.70%
Business acquisition, cost of acquired entity, cash paid	$ 11
Ownership percentage	100.00%

Financial Instruments and Fai_7

Financial Instruments and Fair Value Measurements - Summary of Hedges Classified as Current or Non-Current in Balance Sheets Based on Maturity Dates (Detail) - USD ($) $ in Millions	Mar. 31, 2020	Jun. 30, 2019
Foreign Currency Derivatives [Member] | Cash Flow Hedging [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, reported under other current assets	$ 4	$ 1
Cross Currency Interest Rate Derivatives [Member] | Cash Flow Hedging [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, reported under other current assets	0	33
Derivatives, reported under other non-current assets	120	83
Derivatives, reported under other non-current liabilities	(17)	(18)
Cross Currency Interest Rate Derivatives [Member] | Fair Value Hedging [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, reported under other current assets	0	8
Derivatives, reported under other non-current assets	30	21
Cross Currency Interest Rate Derivatives [Member] | Not Designated as Hedging Instrument, Economic Hedge [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, reported under other current assets	0	12
Interest Rate Contract [Member] | Cash Flow Hedging [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, reported under other current liabilities	0	(2)
Derivatives, reported under other non-current liabilities	$ (15)	$ (18)

Financial Instruments and Fai_8

Financial Instruments and Fair Value Measurements - Additional Information (Detail) $ in Millions, $ in Millions	3 Months Ended	9 Months Ended
	Mar. 31, 2020USD ($)	Mar. 31, 2020USD ($)	Mar. 31, 2020AUD ($)	Jun. 30, 2019USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Goodwill carrying value	$ 3,831	$ 3,831		$ 5,147
News America Marketing [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Non-cash impairment charge of goodwill		122
Non-cash impairment charge for indefinite-lived intangible assets		113
Goodwill carrying value	0	0		122
Indefinite-lived intangible assets carrying value	195	195		308
Foxtel [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Non-cash impairment charge of goodwill	882	882
Non-cash impairment charge for indefinite-lived intangible assets	49	49
Goodwill carrying value	786	786		1,668
Indefinite-lived intangible assets carrying value	140	140		$ 189
Foreign Exchange Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Estimates of net derivative gains related to cash flow hedges included in Accumulated other comprehensive gain (loss)	2	2
Cross Currency Interest Rate Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Estimates of net derivative gains related to cash flow hedges included in Accumulated other comprehensive gain (loss)	2	2
Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Estimates of net derivative gains related to cash flow hedges included in Accumulated other comprehensive gain (loss)	3	3
Cash Flow Hedging [Member] | Accounting Standards Update 2017-12 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Reclassification of gain from AOCI		5
Cash Flow Hedging [Member] | Foreign Exchange Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional value of derivative	59	59
Cash Flow Hedging [Member] | Cross Currency Interest Rate Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional value of derivative	280	280
Cash Flow Hedging [Member] | Interest Rate Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional value of derivative			$ 300
Fair Value Hedging [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional value of derivative	70	70
Fair Value Hedging [Member] | Accounting Standards Update 2017-12 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amount recognized in earnings for ineffective portion of derivative instruments designated as cash flow hedges		0
Adjustments increased the carrying value of long-term debt	$ 3	$ 3

Financial Instruments and Fai_9

Financial Instruments and Fair Value Measurements - Summary of Derivative Instruments Designated as Cash Flow Hedges (Detail) - Cash Flow Hedging [Member] - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gain (loss) recognized in Accumulated Other Comprehensive Loss	$ 45	$ (15)	$ 32	$ 3
(Gain) loss reclassified from Accumulated Other Comprehensive Loss	(33)	9	(37)	(1)
Foreign Currency Derivatives [Member] | Operating Expense [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gain (loss) recognized in Accumulated Other Comprehensive Loss	5	(2)	3	2
(Gain) loss reclassified from Accumulated Other Comprehensive Loss	(1)	0	(3)	(2)
Cross Currency Interest Rate Derivatives [Member] | Interest (Expense) Income, Net [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gain (loss) recognized in Accumulated Other Comprehensive Loss	43	(9)	35	7
(Gain) loss reclassified from Accumulated Other Comprehensive Loss	(33)	7	(30)	(5)
Interest rate derivatives [Member] | Interest (Expense) Income, Net [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gain (loss) recognized in Accumulated Other Comprehensive Loss	(3)	(4)	(6)	(6)
(Gain) loss reclassified from Accumulated Other Comprehensive Loss	$ 1	$ 2	$ (4)	$ 6

Financial Instruments and Fa_10

Financial Instruments and Fair Value Measurements - Schedule of Fair Value Hedging Relationship By Balance Sheet (Detail) - Borrowings [Member] $ in Millions	Mar. 31, 2020USD ($)
Carrying amount of hedged item	$ 72
Cumulative hedging adjustments included in the carrying amount	$ 5

Earnings (Loss) Per Share - Com

Earnings (Loss) Per Share - Computation of Basic And Diluted Earnings (Loss) Per Share (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Earnings Per Share [Abstract]
Net (loss) income	$ (1,036)	$ 23	$ (1,144)	$ 270
Less: Net loss (income) attributable to noncontrolling interests	306	(13)	272	(64)
Net (loss) income attributable to News Corporation stockholders	$ (730)	$ 10	$ (872)	$ 206
Weighted-average number of shares of common stock outstanding - basic	588.3	585	587.7	584.6
Dilutive effect of equity awards	0	3.8	0	2.6
Weighted-average number of shares of common stock outstanding - diluted	588.3	588.8	587.7	587.2
Net (loss) income attributable to News Corporation stockholders per share - basic and diluted	$ (1.24)	$ 0.02	$ (1.48)	$ 0.35

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019	Jun. 30, 2019
Loss Contingencies [Line Items]
Other current assets	$ 753		$ 753		$ 515
U.K. Newspaper Matters [Member]
Loss Contingencies [Line Items]
Selling, general and administrative expenses, net	4	$ 2	5	$ 8
Litigation liability accrued	62		62
Impact due to reversal of previous accrued liability due to settlement with tax authority			5
U.K. Newspaper Matters Indemnification [Member] | 21st Century Fox [Member]
Loss Contingencies [Line Items]
Other current assets	$ 66		$ 66

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Income Tax Contingency [Line Items]
Income tax expense (benefit), net	$ (10)	$ 7	$ 21	$ 112
Income before income tax benefit (loss)	$ (1,046)	$ 30	(1,123)	382
Gross income tax paid			93	107
Income tax refunds			$ 5	$ 17

Segment Information - Additiona

Segment Information - Additional Information (Detail)	9 Months Ended
	Mar. 31, 2020BrandItemSegmentCountry
Segment Reporting Information [Line Items]
Number of reportable segments | Segment	5
Digital Real Estate Services [Member] | Move Inc [Member]
Segment Reporting Information [Line Items]
Company ownership percentage	80.00%
Digital Real Estate Services [Member] | Move Inc [Member] | REA Group Inc [Member]
Segment Reporting Information [Line Items]
Ownership interest held by minority interest	20.00%
Digital Real Estate Services [Member] | REA Group Inc [Member]
Segment Reporting Information [Line Items]
Company ownership percentage	61.60%
Book Publishing [Member] | Minimum [Member]
Segment Reporting Information [Line Items]
Number of branded publishing imprints | Brand	120
Number of countries | Country	17
Subscription Video Services [Member] | Foxtel [Member]
Segment Reporting Information [Line Items]
Company ownership percentage	65.00%
Subscription Video Services [Member] | Foxtel [Member] | Telstra [Member]
Segment Reporting Information [Line Items]
Ownership interest held by minority interest	35.00%
Subscription Video Services [Member] | Minimum [Member] | Foxtel [Member]
Segment Reporting Information [Line Items]
Number of channels | Item	200

Segment Information - Reconcili

Segment Information - Reconciliation of Revenue and Segment EBITDA from Segments to Consolidated (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Segment Reporting Information [Line Items]
Revenues	$ 2,266	$ 2,457	$ 7,085	$ 7,608
Depreciation and amortization	(160)	(168)	(484)	(494)
Impairment and restructuring charges	(1,125)	(34)	(1,451)	(71)
Equity losses of affiliates	(7)	(4)	(12)	(13)
Interest expense, net	(9)	(14)	(13)	(45)
Other, net	13	3	19	30
(Loss) income before income tax benefit (expense)	(1,046)	30	(1,123)	382
Income tax benefit (expense)	10	(7)	(21)	(112)
Net (loss) income	(1,036)	23	(1,144)	270
News and Information Services [Member]
Segment Reporting Information [Line Items]
Revenues	1,130	1,224	3,520	3,729
Total Segment EBITDA	75	65	273	286
Subscription Video Services [Member]
Segment Reporting Information [Line Items]
Revenues	462	539	1,477	1,666
Total Segment EBITDA	68	98	219	295
Book Publishing [Member]
Segment Reporting Information [Line Items]
Revenues	412	421	1,259	1,335
Total Segment EBITDA	55	53	167	209
Digital Real Estate Services [Member]
Segment Reporting Information [Line Items]
Revenues	261	272	827	876
Total Segment EBITDA	74	73	274	299
Other [Member]
Segment Reporting Information [Line Items]
Revenues	1	1	2	2
Total Segment EBITDA	$ (30)	$ (42)	$ (115)	$ (114)

Segment Information - Reconci_2

Segment Information - Reconciliation of Assets from Segments to Consolidated (Detail) - USD ($) $ in Millions	Mar. 31, 2020	Jun. 30, 2019
Segment Reporting, Asset Reconciling Item [Line Items]
Investments	$ 325	$ 335
Total assets	14,428	15,711
News and Information Services [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	5,288	5,482
Subscription Video Services [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	3,319	4,406
Book Publishing [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	2,165	2,074
Digital Real Estate Services [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	2,166	2,229
Other [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 1,165	$ 1,185

Segment Information - Reconci_3

Segment Information - Reconciliation of Goodwill and Intangible Assets from Segments to Consolidated (Detail) - USD ($) $ in Millions	Mar. 31, 2020	Jun. 30, 2019
Segment Reporting Information [Line Items]
Total Goodwill and intangible assets, net	$ 5,677	$ 7,573
News and Information Services [Member]
Segment Reporting Information [Line Items]
Total Goodwill and intangible assets, net	2,082	2,617
Subscription Video Services [Member]
Segment Reporting Information [Line Items]
Total Goodwill and intangible assets, net	1,371	2,595
Book Publishing [Member]
Segment Reporting Information [Line Items]
Total Goodwill and intangible assets, net	735	772
Digital Real Estate Services [Member]
Segment Reporting Information [Line Items]
Total Goodwill and intangible assets, net	$ 1,489	$ 1,589

Additional Financial Informat_3

Additional Financial Information - Components of Receivables, Net (Detail) - USD ($) $ in Millions	Mar. 31, 2020	Jun. 30, 2019
Receivables [Abstract]
Receivables	$ 1,295	$ 1,590
Allowance for doubtful accounts	(58)	(46)
Receivables, net	$ 1,237	$ 1,544

Additional Financial Informat_4

Additional Financial Information - Components of Other Current Assets (Detail) - USD ($) $ in Millions	Mar. 31, 2020	Jun. 30, 2019
Assets, Current [Abstract]
Assets held for sale	$ 334	$ 0
Other	419	515
Total Other current assets	$ 753	$ 515

Additional Financial Informat_5

Additional Financial Information - Components of Other Non-Current Assets (Detail) - USD ($) $ in Millions	Mar. 31, 2020	Jun. 30, 2019
Assets, Noncurrent [Abstract]
Royalty advances to authors	$ 342	$ 343
Retirement benefit assets	137	117
Inventory	134	155
Other	350	315
Total Other non-current assets	$ 963	$ 930

Additional Financial Informat_6

Additional Financial Information - Components of Other Current Liabilities (Detail) - USD ($) $ in Millions	Mar. 31, 2020	Jun. 30, 2019
Other Current Liabilities [Line Items]
Total Other current liabilities	$ 979	$ 724
Other Current Liabilities [Member]
Other Current Liabilities [Line Items]
Royalties and commissions payable	190	211
Current operating lease liabilities	156	0
Allowance for sales returns	168	192
Current tax payable	18	22
Liabilities held for sale	190
Other	257	299
Total Other current liabilities	$ 979	$ 724

Additional Financial Informat_7

Additional Financial Information - Components of Other, Net Included in Statement of Operations (Detail) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Other Income and Expenses [Line Items]
Remeasurement of equity securities		$ (17)	$ 6	$ (22)	$ (23)
Total Other, net		13	3	19	30
Nonoperating Income (Expense) [Member]
Other Income and Expenses [Line Items]
Dividends received from equity security investments		1	1	2	24
Remeasurement of equity securities		(17)	6	(22)	(23)
Gain on sale of business	[1]	20	0	20	0
Gain on sale of Australian property		0	2	0	14
Other, net		9	(6)	19	15
Total Other, net		$ 13	$ 3	$ 19	$ 30
[1]	During the three and nine months ended March 31, 2020, REA Group contributed its businesses located in Singapore and Indonesia into a joint venture with 99.co in return for an equity method investment in the combined entity. As a result of the deconsolidation of these entities, REA Group recognized a $20 million gain in Other, net.

Additional Financial Informat_8

Additional Financial Information - Components of Other, Net Included in Statement of Operations (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Mar. 31, 2020	Mar. 31, 2020
REA Group [Member] | Equity Method Investments [Member]
Components Of Other Income Expense [Line Items]
Gain on sale of business	$ 20	$ 20

Additional Financial Informat_9

Additional Financial Information - Summary of Supplemental Cash Flow Information (Detail) - USD ($) $ in Millions	9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Supplemental Cash Flow Information [Abstract]
Cash paid for interest	$ 43	$ 67
Cash paid for taxes	$ 93	$ 107

Subsequent Events- Additional I

Subsequent Events- Additional Information (Detail) $ in Millions, $ in Millions		Apr. 30, 2020AUD ($)	Mar. 31, 2020USD ($)	Jun. 30, 2019USD ($)
Subsequent Event [Line Items]
Long term debt	[1]		$ 1,115	$ 1,453
Subsequent Event [Member] | REA Group [Member]
Subsequent Event [Line Items]
Credit facility maximum capacity		$ 20
Long term debt		$ 148.5
[1]	The Company’s outstanding borrowings as of March 31, 2020 were incurred by Foxtel and REA Group, consolidated but non wholly-owned subsidiaries of News Corp. These borrowings are only guaranteed by Foxtel and REA Group and their respective subsidiaries, as applicable, and are non-recourse to News Corp.