News (NWS) 10-K 12 Aug 22 2022 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Jun. 30, 2022	Aug. 05, 2022	Dec. 23, 2021
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	001-35769
Entity Registrant Name	NEWS CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	46-2950970
Entity Address, Address Line One	1211 Avenue of the Americas
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10036
City Area Code	212
Local Phone Number	416-3400
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Auditor Attestation Flag	true
Entity Shell Company	false
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Certain information required for Part III of this Annual Report on Form 10-K is incorporated by reference to the News Corporation definitive Proxy Statement for its 2022 Annual Meeting of Stockholders, which shall be filed with the Securities and Exchange Commission pursuant to Regulation 14A of the Securities Exchange Act of 1934, as amended, within 120 days of News Corporation’s fiscal year end.
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Central Index Key	0001564708
Current Fiscal Year End Date	--06-30
Class A Common Stock
Document Information [Line Items]
Title of 12(b) Security	Class A Common Stock, par value $0.01 per share
Trading Symbol	NWSA
Security Exchange Name	NASDAQ
Entity Public Float			$ 8,701,540,846
Entity Common Stock, Shares Outstanding		385,597,969
Class B Common Stock
Document Information [Line Items]
Title of 12(b) Security	Class B Common Stock, par value $0.01 per share
Trading Symbol	NWS
Security Exchange Name	NASDAQ
Entity Public Float			$ 2,735,634,759
Entity Common Stock, Shares Outstanding		195,823,823

Audit Information

Audit Information	12 Months Ended
	Jun. 30, 2022
Auditor [Abstract]
Auditor Name	Ernst & Young LLP
Auditor Location	New York, New York
Auditor Firm ID	42

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Revenues:
Revenues	$ 10,385	$ 9,358	$ 9,008
Total Revenues	10,385	9,358	9,008
Operating expenses	(5,124)	(4,831)	(5,000)
Selling, general and administrative	(3,592)	(3,254)	(2,995)
Depreciation and amortization	(688)	(680)	(644)
Impairment and restructuring charges	(109)	(168)	(1,830)
Equity losses of affiliates	(13)	(65)	(47)
Interest expense, net	(99)	(53)	(25)
Other, net	52	143	9
Income (loss) before income tax expense	812	450	(1,524)
Income tax expense	(52)	(61)	(21)
Net income (loss)	760	389	(1,545)
Less: Net (income) loss attributable to noncontrolling interests	(137)	(59)	276
Net income (loss) attributable to News Corporation stockholders	$ 623	$ 330	$ (1,269)
Net (loss) income available to News Corporation stockholders per share:
Basic (in dollars per share)	$ 1.06	$ 0.56	$ (2.16)
Diluted (in dollars per share)	$ 1.05	$ 0.56	$ (2.16)
Circulation and subscription
Revenues:
Revenues	$ 4,425	$ 4,206	$ 3,857
Advertising
Revenues:
Revenues	1,821	1,594	2,193
Consumer
Revenues:
Revenues	2,106	1,908	1,593
Real estate
Revenues:
Revenues	1,347	1,153	862
Other
Revenues:
Revenues	$ 686	$ 497	$ 503

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions		12 Months Ended
		Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)		$ 760	$ 389	$ (1,545)
Other comprehensive (loss) income:
Foreign currency translation adjustments		(518)	468	(200)
Net change in the fair value of cash flow hedges	[1]	21	(2)	(9)
Benefit plan adjustments, net	[2]	71	2	(42)
Other comprehensive (loss) income		(426)	468	(251)
Comprehensive income (loss)		334	857	(1,796)
Less: Net (income) loss attributable to noncontrolling interests		(137)	(59)	276
Less: Other comprehensive loss (income) attributable to noncontrolling interests	[3]	97	(78)	43
Comprehensive income (loss) attributable to News Corporation stockholders		$ 294	$ 720	$ (1,477)
[1]Net of income tax expense (benefit) of $7 million, nil and $(3) million for the fiscal years ended June 30, 2022, 2021 and 2020, respectively.[2]Net of income tax expense (benefit) of $19 million, $(1) million and $(11) million for the fiscal years ended June 30, 2022, 2021 and 2020, respectively.[3]Primarily consists of foreign currency translation adjustments.

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Loss (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net change in the fair value of cash flow hedges, income tax expense	$ 7	$ 0	$ (3)
Pensions plans, income tax expense (benefit)	$ (19)	$ 1	$ 11

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions		Jun. 30, 2022	Jun. 30, 2021
Current assets:
Cash and cash equivalents		$ 1,822	$ 2,236
Receivables, net		1,502	1,498
Inventory, net		311	253
Other current assets		458	469
Total current assets		4,093	4,456
Non-current assets:
Investments		488	351
Property, plant and equipment, net		2,103	2,272
Operating lease right-of-use assets		891	1,035
Intangible assets, net		2,671	2,179
Goodwill		5,169	4,653
Deferred income tax assets		422	378
Other non-current assets		1,384	1,447
Total assets		17,221	16,771
Current liabilities:
Accounts payable		411	321
Accrued expenses		1,236	1,339
Deferred revenue		604	473
Current borrowings		293	28
Other current liabilities		975	1,073
Total current liabilities		3,519	3,234
Non-current liabilities:
Borrowings		2,776	2,285
Retirement benefit obligations		155	211
Deferred income tax liabilities		198	260
Operating lease liabilities		947	1,116
Other non-current liabilities		483	519
Commitments and contingencies
Equity
Additional paid-in capital		11,779	12,057
Accumulated deficit		(2,293)	(2,911)
Accumulated other comprehensive loss		(1,270)	(941)
Total News Corporation stockholders’ equity		8,222	8,211
Noncontrolling interests		921	935
Total equity		9,143	9,146
Total liabilities and equity		17,221	16,771
Class A Common Stock
Equity
Common stock	[1]	4	4
Class B Common Stock
Equity
Common stock	[2]	$ 2	$ 2
[1] Class A common stock , $0.01 par value per share (“Class A Common Stock”), 1,500,000,000 shares authorized, 387,561,850 and 391,212,047 shares issued and outstanding, net of 27,368,413 treasury shares at par, at June 30, 2022 and June 30, 2021, respectively. Class B common stock , $0.01 par value per share (“Class B Common Stock”), 750,000,000 shares authorized, 196,808,833 and 199,630,240 shares issued and outstanding, net of 78,430,424 treasury shares at par, at June 30, 2022 and June 30, 2021, respectively.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2022	Jun. 30, 2021
Class A Common Stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	1,500,000,000	1,500,000,000
Common stock, shares issued, net of treasury stock	387,561,850	391,212,047
Common stock outstanding, net of treasury stock	387,561,850	391,212,047
Common stock, treasury shares	27,368,413	27,368,413
Class B Common Stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	750,000,000	750,000,000
Common stock, shares issued, net of treasury stock	196,808,833	199,630,240
Common stock outstanding, net of treasury stock	196,808,833	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	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Operating activities:
Net income (loss)	$ 760	$ 389	$ (1,545)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	688	680	644
Operating lease expense	125	128	160
Equity losses of affiliates	13	65	47
Cash distributions received from affiliates	23	15	7
Impairment charges	15	0	1,690
Other, net	(52)	(143)	(9)
Deferred income taxes and taxes payable	(125)	(100)	(51)
Change in operating assets and liabilities, net of acquisitions:
Receivables and other assets	(51)	(166)	(1,470)
Inventories, net	(87)	6	9
Accounts payable and other liabilities	45	363	1,298
Net cash provided by operating activities	1,354	1,237	780
Investing activities:
Capital expenditures	(499)	(390)	(438)
Acquisitions, net of cash acquired	(1,501)	(886)	(32)
Investments in equity affiliates and other	(71)	(26)	(8)
Other investments	(41)	(13)	11
Proceeds from property, plant and equipment and other asset dispositions	3	24	36
Other, net	33	(1)	4
Net cash used in investing activities	(2,076)	(1,292)	(427)
Financing activities:
Borrowings	1,690	1,515	926
Repayment of borrowings	(838)	(557)	(1,226)
Repurchase of shares	(179)	0	0
Dividends paid	(175)	(163)	(158)
Other, net	(94)	(96)	(14)
Net cash provided by (used in) financing activities	404	699	(472)
Net change in cash and cash equivalents	(318)	644	(119)
Cash and cash equivalents, beginning of year	2,236	1,517	1,643
Exchange movement on opening cash balance	(96)	75	(7)
Cash and cash equivalents, end of year	$ 1,822	$ 2,236	$ 1,517

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Millions	Total	Cumulative Effect, Period of Adoption, Adjustment	Additional Paid-in Capital	Accumulated Deficit	Accumulated Deficit Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss Cumulative Effect, Period of Adoption, Adjustment	Total News Corporation Equity	Total News Corporation Equity Cumulative Effect, Period of Adoption, Adjustment	Noncontrolling Interests	Noncontrolling Interests Cumulative Effect, Period of Adoption, Adjustment	Class A Common Stock	Class A Common Stock Common Stock	Class B Common Stock	Class B Common Stock Common Stock
Beginning balance at Jun. 30, 2019	$ 10,311	$ 9	$ 12,243	$ (1,979)	$ 6	$ (1,126)	$ 3	$ 9,144	$ 9	$ 1,167	$ 0		$ 4		$ 2
Beginning balance, shares at Jun. 30, 2019													386,000,000		200,000,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(1,545)			(1,269)				(1,269)		(276)
Other comprehensive income (loss)	(251)					(208)		(208)		(43)
Dividends	(158)		(117)					(117)		(41)
Share repurchases (in shares)												0		0
Other	23		22	1				23
Other, shares													3,000,000
Ending balance at Jun. 30, 2020	8,389		12,148	(3,241)		(1,331)		7,582		807			$ 4		$ 2
Ending balance, shares at Jun. 30, 2020													389,000,000		200,000,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	389			330				330		59
Other comprehensive income (loss)	468					390		390		78
Dividends	(163)		(118)					(118)		(45)
Share repurchases (in shares)												0		0
Other	63		27	0				27		36
Other, shares													2,000,000
Ending balance at Jun. 30, 2021	9,146		12,057	(2,911)		(941)		8,211		935			$ 4		$ 2
Ending balance, shares at Jun. 30, 2021												391,212,047	391,000,000	199,630,240	200,000,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	760			623				623		137
Other comprehensive income (loss)	(426)					(329)		(329)		(97)
Dividends	(175)		(118)					(118)		(57)
Share repurchases (in shares)												(5,800,000)	(6,000,000)	(2,900,000)	(3,000,000)
Share repurchases	(183)		(178)	(5)				(183)				$ (122)		$ (61)
Other	21		18	0				18		3
Other, shares													3,000,000
Ending balance at Jun. 30, 2022	$ 9,143		$ 11,779	$ (2,293)		$ (1,270)		$ 8,222		$ 921			$ 4		$ 2
Ending balance, shares at Jun. 30, 2022												387,561,850	388,000,000	196,808,833	197,000,000

Description of Business and Bas

Description of Business and Basis of Presentation	12 Months Ended
	Jun. 30, 2022
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: digital real estate services, subscription video services in Australia, news and information services and book publishing. Basis of presentation The accompanying 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”). The Company’s financial statements as of and for the fiscal years ended June 30, 2022, 2021 and 2020 are presented on a consolidated basis. 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 Company maintains a 52-53 week fiscal year ending on the Sunday closest to June 30 in each year. Fiscal 2022, fiscal 2021 and fiscal 2020 included 53, 52 and 52 weeks, respectively. All references to the fiscal years ended June 30, 2022, 2021 and 2020 relate to the fiscal years ended July 3, 2022, June 27, 2021 and June 28, 2020, respectively. For convenience purposes, the Company continues to date its consolidated financial statements as of June 30.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of consolidation The Consolidated Financial Statements include the accounts of all majority-owned and controlled subsidiaries. In addition, the Company evaluates its relationships with other entities to identify whether they are variable interest entities (“VIEs”) as defined by Financial Accounting Standards Board (“FASB”) ASC 810-10, “Consolidation” (“ASC 810-10”) and whether the Company is the primary beneficiary. Consolidation is required if both of these criteria are met. All significant intercompany accounts and transactions have been eliminated in consolidation, including the intercompany portion of transactions with equity method investees. Changes in the Company’s ownership interest in a consolidated subsidiary where a controlling financial interest is retained are accounted for as capital transactions. When the Company ceases to have a controlling interest in a consolidated subsidiary the Company will recognize a gain or loss in the Statements of Operations upon deconsolidation. Use of estimates The preparation of the Company’s Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts that are reported in the Consolidated Financial Statements and accompanying disclosures. Actual results could differ from those estimates. Cash and cash equivalents Cash and cash equivalents consist of cash on hand and other investments that are readily convertible into cash with original maturities of three months or less. The Company’s cash and cash equivalents balance as of June 30, 2022 and 2021 also includes $169 million and $128 million, respectively, which is not readily accessible by the Company as it is held by REA Group Limited (“REA Group”), a majority owned but separately listed public company. REA Group must declare a dividend in order for the Company to have access to its share of REA Group’s cash balance. The Company classifies cash as restricted when the cash is unavailable for use in its general operations. The Company had no restricted cash as of June 30, 2022 and 2021. Concentration of credit risk Cash and cash equivalents are maintained with multiple financial institutions. The Company has deposits held with banks that exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed upon demand and are maintained with financial institutions of reputable credit and, therefore, bear minimal credit risk. Receivables, net Receivables are presented net of allowances. Allowance for doubtful accounts is calculated by pooling receivables with similar credit risks such as the level of delinquency, types of products or services and geographical locations and reflects the Company’s expected credit losses based on historical experience as well as current and expected economic conditions. Receivables, net consist of: As of June 30, 2022 2021 (in millions) Receivables $ 1,569 $ 1,569 Less: allowances (67) (71) Receivables, net $ 1,502 $ 1,498 The Company’s receivables did not represent significant concentrations of credit risk as of June 30, 2022 or June 30, 2021 due to the wide variety of customers, markets and geographic areas to which the Company’s products and services are sold. Inventory, net Inventory primarily consists of programming rights, books and newsprint. In accordance with ASC 920, “Entertainment—Broadcasters,” programming rights and the related liabilities are recorded at the gross amount of the liabilities when the license period has begun, the cost of the program is determinable and the program is accepted and available for airing. Programming costs are amortized based on the expected pattern of consumption over the license period or expected useful life of each program. The pattern of consumption is based primarily on consumer viewership information as well as other factors. The Company regularly reviews its programming assets to ensure they continue to reflect fair value. Changes in circumstances may result in a write-down of the asset to fair value. The Company’s programming rights are substantially all monetized as a film group. The amortization expense of programming costs, which is reflected within Operating expenses in the Statements of Operations, was $281 million for the fiscal year ended June 30, 2022. Approximately $147 million, $58 million and $19 million of the unamortized programming costs as of June 30, 2022 are expected to be amortized in each of the fiscal years ending June 30, 2023, 2024 and 2025, respectively. Inventory for books and newsprint are valued at the lower of cost or net realizable value. Cost for non-programming inventory is determined by the weighted average cost method. The Company records a reserve for excess and obsolete inventory based upon a calculation using the historical usage rates, sales patterns of its products and specifically identified obsolete inventory. Investments The Company makes investments in various businesses in the normal course of business. The Company evaluates its relationships with other entities to identify whether they are VIEs in accordance with ASC 810-10 and whether the Company is the primary beneficiary. In determining whether the Company is the primary beneficiary of a VIE, it assesses whether it has the power to direct matters that most significantly impact the activities of the VIE and has the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE. The Company would consolidate any investments in which it was determined to be the primary beneficiary of a VIE. Investments in and advances to equity investments or joint ventures in which the Company has significant influence, but is not the primary beneficiary, and has less than a controlling voting interest, are accounted for using the equity method. Significant influence is generally presumed to exist when the Company owns an interest between 20% and 50% or when the Company has the ability to exercise significant influence. Under the equity method of accounting, the Company includes its investments and amounts due to and from such investments in its Balance Sheets. The Company’s Statements of Operations include the Company’s share of the investees’ earnings (losses) and the Company’s Statements of Cash Flows include all cash received from or paid to the investee. The difference between the Company’s investment and its share of the fair value of the underlying net tangible assets of the investee upon acquisition is first allocated to either finite-lived intangibles, indefinite-lived intangibles or other assets and liabilities and the balance is attributed to goodwill. The Company follows ASC 350, “Intangibles—Goodwill and Other” (“ASC 350”), which requires that equity method finite-lived intangibles be amortized over their estimated useful life. Such amortization is reflected in Equity (losses) earnings of affiliates in the Statements of Operations. Indefinite-lived intangibles and goodwill are not amortized. Investments in which the Company is presumed not to have significant influence (generally less than a 20% ownership interest) or does not have the ability to exercise significant influence are accounted for in accordance with ASC 825-10, “Recognition and Measurement of Financial Assets and Financial Liabilities” (“ASC 825-10”). Gains and losses on equity securities with readily determinable fair market values are recorded in Other, net in the Statement of Operations based on the closing price at the end of each reporting period. 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. See Note 6—Investments. Financial instruments and derivatives The carrying value of the Company’s financial instruments, including cash and cash equivalents, approximate fair value. The fair value of financial instruments is generally determined by reference to market values resulting from trading on a national securities exchange, trading in an over-the-counter market which are considered to be Level 2 measurements or unobservable inputs that require the Company to use its own best estimates about market participant assumptions which are considered to be Level 3 measurements. See Note 11—Financial Instruments and Fair Value Measurements. ASC 815, “Derivatives and Hedging” (“ASC 815”) requires derivative instruments to be recorded on the balance sheet at fair value as either an asset or a liability. ASC 815 also requires that changes in the fair value of recorded derivatives be recognized currently in the Statements of Operations unless specific hedge accounting criteria are met. For derivatives that will be accounted for as hedging instruments, the Company formally designates and documents, at inception, the financial instrument as a hedge of a specific underlying exposure, the risk management objective and the strategy for undertaking the hedge transaction. On an ongoing basis, the Company assesses whether the financial instruments used in hedging transactions continue to be highly effective. The Company determines the fair values of its derivatives using standard valuation models. The notional amounts of the derivative financial instruments do not necessarily represent amounts exchanged by the parties and, therefore, are not a direct measure of the Company’s exposure to the financial risks. The amounts exchanged are calculated by reference to the notional amounts and by other terms of the derivatives, such as interest rates and foreign currency exchange rates. The Company does not view the fair values of its derivatives in isolation, but rather in relation to the fair values or cash flows of the underlying hedged transactions or other exposures. All of the Company’s derivatives are over-the-counter instruments with liquid markets. The carrying values of the derivatives reflect the impact of master netting agreements which allow the Company to net settle positive and negative positions with the same counterparty. As the Company does not intend to settle any derivatives at their net positions, derivative instruments are presented gross in the Balance Sheets. See Note 11—Financial Instruments and Fair Value Measurements. The Company monitors its positions with, and the credit quality of, the financial institutions which are counterparties to its financial instruments. The Company is exposed to credit loss in the event of nonperformance by the counterparties to the agreements. As of June 30, 2022, the Company did not anticipate nonperformance by any of the counterparties. Cash flow hedges Cash flow hedges are used to mitigate the Company’s exposure to variability in cash flows that is attributable to particular risk associated with a highly probable forecasted transaction or a recognized asset or liability which could affect income or expenses. The gain or loss on the hedging instrument is recognized directly in Accumulated other comprehensive loss. Amounts recorded in Accumulated other comprehensive loss are recognized in the Statements of Operations when the hedged forecasted transaction impacts income or if the forecasted transaction is no longer expected to occur. Upon adoption of Accounting Standards Update (“ASU”) 2017-12 in fiscal 2020, the Company reclassified $5 million in gains from Accumulated deficit to Accumulated other comprehensive loss related to amounts previously recorded for the ineffective portion of outstanding derivative instruments designated as cash flow hedges. The Company excluded the cross-currency basis spread from the changes in fair value of the derivative instruments from the assessment of hedge effectiveness for all periods presented. Fair value hedges Fair value hedges are used to mitigate the Company’s exposure to changes in the fair value of a recognized asset or liability, or an identified portion thereof, that is attributable to a particular risk and could affect income or expenses. The hedged item is adjusted for gains and losses attributable to the risk being hedged and the derivative is remeasured to fair value. The Company records the changes in the fair value of these items in the Statements of Operations. Economic hedges Derivatives not designated as accounting hedge relationships or for which hedge accounting has been discontinued are referred to as economic hedges. Economic hedges are those derivatives which the Company uses to mitigate its exposure to variability in the cash flows of a forecasted transaction or the fair value of a recognized asset or liability, but which do not qualify or were not designated for hedge accounting in accordance with ASC 815. When a derivative is determined not to be highly effective as a hedge or the underlying hedged transaction is no longer probable, the Company discontinues hedge accounting prospectively. The economic hedges are adjusted to fair value each period in Other, net in the Statements of Operations. Property, plant and equipment Property, plant and equipment are stated at cost less accumulated depreciation. Depreciation is calculated using the straight-line method over an estimated useful life of 2 to 50 years. Leasehold improvements are amortized using the straight-line method over the shorter of their useful lives or the life of the lease. Costs associated with the repair and maintenance of property, plant and equipment are expensed as incurred. Changes in circumstances, such as technological advances or changes to the Company’s business model or capital strategy, could result in the actual useful lives differing from the Company’s estimates. In those cases where the Company determines that the useful life of buildings and equipment should be changed, the Company would depreciate the asset over its revised remaining useful life, thereby increasing or decreasing depreciation expense. Refer to Note 7—Property, Plant and Equipment for further detail. Capitalized software In accordance with ASC 350-40, “Internal-use Software,” the Company capitalizes certain costs incurred in connection with developing or obtaining internal-use software. Costs incurred in the preliminary project stage are expensed. All direct costs incurred to develop internal-use software during the development stage are capitalized and amortized using the straight-line method over the estimated useful life, generally 2 to 15 years. Costs such as maintenance and training are expensed as incurred. Research and development costs are also expensed as incurred. In accordance with ASC 350-24, “Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract,” the Company evaluates upfront costs, including implementation, set-up or other costs (collectively, “implementation costs”), for hosting arrangements under the internal-use software framework. Costs related to preliminary project activities and post implementation activities are expensed as incurred, whereas costs incurred in the development stage are generally capitalized as prepaid assets within Other Current Assets in the Balance Sheet. Capitalized implementation costs are amortized on a straight-line basis over the expected term of the hosting arrangement, which includes consideration of the non-cancellable contractual term and reasonably certain renewals. Amortization of capitalized implementation costs is included in the same line item in the Statements of Operations as the expense for fees for the associated hosting arrangement. Leases Leases are classified as either finance leases or operating leases. A lease is classified as a finance lease if any one of the following criteria are met: the lease transfers ownership of the asset by the end of the lease term, the lease contains an option to purchase the asset that is reasonably certain to be exercised, the lease term is for a major part of the remaining useful life of the asset or the present value of the lease payments equals or exceeds substantially all of the fair value of the asset. A lease is classified as an operating lease if it does not meet any one of these criteria. The Company’s operating leases primarily consist of real estate, including office space, warehouse space and printing facilities, and satellite transponders for purposes of providing its subscription video services to consumers and its finance leases consist of satellite transponders. For operating leases, minimum lease payments, including minimum scheduled rent increases, are recognized as rent expense on a straight-line basis over the applicable lease terms. For finance leases, lease expense consists of the depreciation of the right-of-use asset, as well as interest expense recognized on the lease liability based on the effective interest method using the rate implicit in the lease or the Company's incremental borrowing rate. A lease's term begins on the date that the Company obtains possession of the leased premises and goes through the expected lease termination date. See Note 10—Leases. Royalty advances to authors Royalty advances are initially capitalized and subsequently expensed as related revenues are earned or when the Company determines future recovery is not probable. The Company has a long history of providing authors with royalty advances, and it tracks each advance earned with respect to the sale of the related publication. Historically, the longer the unearned portion of the advance remains outstanding, the less likely it is that the Company will recover the advance through the sale of the publication. The Company applies this historical experience to its existing outstanding royalty advances to estimate the likelihood of recovery and a provision is established to write-off the unearned advance, usually between 12 and 24 months after initial publication of the first format. Additionally, the Company reviews its portfolio of royalty advances for unpublished titles to determine if individual royalty advances are not recoverable for discrete reasons, such as the death of an author prior to completion of a title or titles, a Company decision to not publish a title, poor market demand or other relevant factors that could impact recoverability. Based on this information, the portion of any advance that the Company believes is not recoverable is expensed. Business Combinations The purchase price of each acquisition is attributed to the assets acquired and liabilities assumed based on their fair values at the date of acquisition, with certain exceptions in accordance with GAAP. Determining the fair value of assets acquired and liabilities assumed involves the use of significant judgments, including judgments about appropriate discount rates, attrition rates, royalty rates and future cash flows. The excess purchase price over the fair value of net tangible and identifiable intangible assets acquired is recorded as goodwill and is assigned to the reporting unit that is expected to benefit from the business combination as of the acquisition date. Goodwill and intangible assets The Company has goodwill and intangible assets, including trademarks and tradenames, newspaper mastheads, publishing imprints, radio broadcast licenses, publishing rights and customer relationships. Goodwill is recorded as the difference between the cost of acquiring entities or businesses and amounts assigned to their tangible and identifiable intangible net assets. In accordance with ASC 350, the Company’s goodwill and indefinite-lived intangible assets are tested annually during the fourth quarter for impairment or earlier if events occur or circumstances change that would more likely than not reduce the fair values below their carrying amounts. Intangible assets with finite lives are amortized over their estimated useful lives. Goodwill is reviewed for impairment at a reporting unit level. Reporting units are determined based on an evaluation of the Company’s operating segments and the components making up those operating segments. For purposes of its goodwill impairment review, the Company has identified REA Group, Move, Inc. (“Move”), the Foxtel Group, Australian News Channel (“ANC”), Dow Jones, HarperCollins, the Australian newspapers, the U.K. newspapers, TalkTV, the New York Post , Storyful Limited (“Storyful”), and Wireless Group plc (“Wireless Group”) as its reporting units. In accordance with ASC 350, in assessing goodwill for impairment, the Company has the option to first perform a qualitative assessment to determine whether events or circumstances exist that lead to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If the Company determines that it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, the Company is not required to perform any additional tests in assessing goodwill for impairment. However, if the Company concludes otherwise or elects not to perform the qualitative assessment, then it is required to perform a quantitative analysis to determine the fair value of the reporting unit, and compare the calculated fair value with its carrying amount, including goodwill. If through a quantitative analysis the Company determines the fair value of a reporting unit exceeds its carrying amount, the goodwill of the reporting unit is considered not to be impaired. If the Company concludes that the fair value of the reporting unit is less than its carrying value, an impairment will be recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value. The Company also performs impairment reviews on its indefinite-lived intangible assets, including trademarks and tradenames, newspaper mastheads, publishing imprints and radio broadcast licenses. Newspaper mastheads and book publishing imprints are reviewed on an aggregated basis in accordance with ASC 350. Trademarks and tradenames and radio broadcast licenses are reviewed individually. In assessing its indefinite-lived intangible assets for impairment, the Company has the option to first perform a qualitative assessment to determine whether events or circumstances exist that lead to a determination that it is more likely than not that the fair value of the indefinite-lived intangible asset is less than its carrying amount. If the Company determines that it is not more likely than not that the fair value of an indefinite-lived intangible asset is less than its carrying amount, the Company is not required to perform any additional tests in assessing the asset for impairment. However, if the Company concludes otherwise or elects not to perform the qualitative assessment, then it is required to perform a quantitative analysis to determine if the fair value of an indefinite-lived intangible asset is less than its carrying value. If through a quantitative analysis the Company determines the fair value of an indefinite-lived intangible asset exceeds its carrying amount, the indefinite-lived intangible asset is considered not to be impaired. If the Company concludes that the fair value of an indefinite-lived intangible asset is less than its carrying value, an impairment will be recognized for the amount by which the carrying amount exceeds the indefinite-lived intangible asset’s fair value. The methods used to estimate the fair value measurements of the Company’s reporting units and indefinite-lived intangible assets include those based on the income approach (including the discounted cash flow, relief-from-royalty and excess earnings methods) and those based on the market approach (primarily the guideline public company method). The resulting fair value measurements of the assets are considered to be Level 3 measurements. Determining fair value requires the exercise of significant judgments, including judgments about appropriate discount rates, long-term growth rates, relevant comparable company earnings multiples and the amount and timing of expected future cash flows. The cash flows employed in the analyses are based on the Company’s estimated outlook and various growth rates are assumed for years beyond the long-term business plan period. Discount rate assumptions are based on an assessment of the risk inherent in the future cash flows of the respective reporting units. In assessing the reasonableness of its determined fair values, the Company evaluates its results against other value indicators, such as comparable public company trading values. When a business within a reporting unit is disposed of, goodwill is allocated to the disposed business using the relative fair value method. See Note 8—Goodwill and Other Intangible Assets. Borrowings Loans and borrowings are initially recognized at the fair value of the consideration received. Transaction costs are recorded within current borrowings (current portion) and non-current borrowings (long-term portion) in the Consolidated Balance Sheets. They are subsequently recognized at amortized cost using the effective interest method. Debt may be considered extinguished when it has been modified and the terms of the new debt instruments and old debt instruments are substantially different, as that term is defined in the debt modification guidance in ASC 470-50 “Debt—Modifications and Extinguishments.” 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 “Debt.” See Note 9—Borrowings. Retirement benefit obligations The Company provides defined benefit pension, postretirement healthcare and defined contribution benefits to the Company’s eligible employees and retirees. The Company accounts for its defined benefit pension, postretirement healthcare and defined contribution plans in accordance with ASC 715, “Compensation—Retirement Benefits” (“ASC 715”). The expense recognized by the Company is determined using certain assumptions, including the discount rate, expected long-term rate of return of pension assets and mortality rates, among others. The Company recognizes the funded status of its defined benefit plans (other than multiemployer plans) as an asset or liability in the Balance Sheets and recognizes changes in the funded status in the year in which the changes occur through Accumulated other comprehensive loss in the Balance Sheets. The Company recognizes the other non-service cost components of net periodic benefit (income) cost in Other, net in the Statements of Operations. See Note 17—Retirement Benefit Obligations. Fair value measurements The Company has various financial instruments that are measured at fair value on a recurring basis, including certain marketable securities and derivatives. The Company also applies the provisions of fair value measurement to various non-recurring measurements for the Company’s non-financial assets and liabilities. With the exception of investments measured using the net asset value per share practical expedient in accordance with ASC 820, “Fair Value Measurements” (“ASC 820”)” or ASC 825-10 described above, the Company measures assets and liabilities in accordance with ASC 820, using inputs from the following three levels of the fair value hierarchy: (i) inputs that are quoted prices in active markets for identical assets or liabilities (“Level 1”); (ii) inputs other than quoted prices included within Level 1 that are observable, including quoted prices for similar assets or liabilities (“Level 2”); and (iii) unobservable inputs that require the entity to use its own best estimates about market participant assumptions (“Level 3”). See Note 11—Financial Instruments and Fair Value Measurements. The Company’s assets measured at fair value on a nonrecurring basis include investments, long-lived assets, indefinite-lived intangible assets and goodwill. The Company reviews the carrying amounts of such assets whenever events or changes in circumstances indicate that the carrying amounts may not be recoverable or at least annually during the fourth quarter for indefinite-lived intangible assets and goodwill. Any resulting asset impairment would require that the asset be recorded at its fair value. The resulting fair value measurements of the assets are considered to be Level 3 measurements. Asset impairments Investments Equity method investments are regularly reviewed to determine whether a significant event or change in circumstances has occurred that may impact the fair value of each investment. If the fair value of the investment has dropped below the carrying amount, management considers several factors when determining whether an other-than-temporary decline in market value has occurred, including the length of time and extent to which the market value has been below cost, the financial condition and near-term prospects of the issuer, the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in market value and other factors influencing the fair market value, such as general market conditions. Long-lived assets ASC 360, “Property, Plant, and Equipment” (“ASC 360”) and ASC 350 require the Company to periodically review the carrying amounts of its long-lived assets, including property, plant and equipment and finite-lived intangible assets, to determine whether current events or circumstances indicate that such carrying amounts may not be recoverable. If the carrying amount of the asset is greater than the expected undiscounted cash flows to be generated by such asset, an impairment adjustment is recognized if the carrying value of such asset exceeds its fair value. The Company generally measures fair value by considering sale prices for similar assets or by discounting estimated future cash flows using an appropriate discount rate. Considerable management judgment is necessary to estimate the fair value of assets; accordingly, actual results could vary significantly from such estimates. Assets to be disposed of are carried at the lower of their financial statement carrying amount or fair value, less their costs to sell. Treasury Stock The Company accounts for treasury stock using the cost method. Upon the retirement of treasury stock, the Company allocates the value of treasury shares between common stock, additional paid-in capital and accumulated deficit. All shares repurchased to date have been retired. See Note 12—Stockholders' Equity. Revenue recognition Circulation and subscription revenues Circulation and subscription revenues include subscription and single-copy sales of digital and print news products, information services subscription revenues and pay television broadcast and streaming subscription revenues. Circulation revenues are based on the number of copies of the printed news products (through home-delivery subscriptions and single-copy sales) and/or digital subscriptions sold, and the associated rates charged to the customers. Single-copy revenue is recognized at a point in time on the date the news products are sold to distribution outlets, net of provisions for related returns. Revenues from home delivery and digital subscriptions are recognized over the subscription term as the news products and/or digital subscriptions are delivered. Information services subscription revenues are recognized over time as the subscriptions are delivered. Payments from subscribers are generally due at the beginning of the month and are recorded as deferred revenue. Such amounts are recognized as revenue as the associated subscription is delivered. Revenue generated from subscriptions to receive pay television broadcast, streaming, broadband and phone services for residential and commercial subscribers is recognized over time on a monthly basis as the services are provided. Payment is generally received monthly in advance of providing services, and is deferred upon receipt. Such amounts are recognized as revenue as the related services are provided. Advertising revenues Revenue from print advertising is recognized at the point in time the print advertisement is published. Broadcast advertising revenue is recognized over the time that the broadcast advertisement is aired. For impressions-based digital advertising, revenues are recognized as impressions are delivered over the term of the arrangement, while revenue from non-impressions-based digital advertising is recognized

Revenues

Revenues	12 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenues	NOTE 3. REVENUES Disaggregated revenue The following tables present the Company’s disaggregated revenues by type and segment for the fiscal years ended June 30, 2022, 2021 and 2020: For the fiscal year ended June 30, 2022 Digital Real Estate Services Subscription Video Services Dow Jones Book Publishing News Media Other Total Revenues (in millions) Revenues: Circulation and subscription $ 13 $ 1,753 $ 1,516 $ — $ 1,143 $ — $ 4,425 Advertising 135 232 449 — 1,005 — 1,821 Consumer — — — 2,106 — — 2,106 Real estate 1,347 — — — — — 1,347 Other 246 41 39 85 275 — 686 Total Revenues $ 1,741 $ 2,026 $ 2,004 $ 2,191 $ 2,423 $ — $ 10,385 For the fiscal year ended June 30, 2021 Digital Real Estate Services Subscription Video Services Dow Jones Book Publishing News Media Other Total Revenues (in millions) Revenues: Circulation and subscription $ 25 $ 1,825 $ 1,296 $ — $ 1,060 $ — $ 4,206 Advertising 126 210 373 — 885 — 1,594 Consumer — — — 1,908 — — 1,908 Real estate 1,153 — — — — — 1,153 Other 89 37 33 77 260 1 497 Total Revenues $ 1,393 $ 2,072 $ 1,702 $ 1,985 $ 2,205 $ 1 $ 9,358 For the fiscal year ended June 30, 2020 Digital Real Estate Services Subscription Video Services Dow Jones Book Publishing News Media Other Total Revenues (in millions) Revenues: Circulation and subscription $ 36 $ 1,673 $ 1,191 $ — $ 956 $ 1 $ 3,857 Advertising 98 174 359 — 1,562 — 2,193 Consumer — — — 1,593 — — 1,593 Real estate 862 — — — — — 862 Other 69 37 40 73 283 1 503 Total Revenues $ 1,065 $ 1,884 $ 1,590 $ 1,666 $ 2,801 $ 2 $ 9,008 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 fiscal years ended June 30, 2022 and 2021: For the fiscal year ended June 30, 2022 2021 (in millions) Beginning balance $ 473 $ 398 Deferral of revenue 3,558 3,152 Recognition of deferred revenue (a) (3,477) (3,109) Other (b) 50 32 Ending balance $ 604 $ 473 ________________________ (a) For the fiscal years ended June 30, 2022 and 2021, the Company recognized approximately $435 million and $381 million, respectively, of revenue which was included in the opening deferred revenue balance. (b) For the fiscal year ended June 30, 2022, includes $68 million of deferred revenue acquired as a result of the OPIS and CMA acquisitions. For the fiscal year ended June 30, 2021, includes $16 million of deferred revenue acquired as a result of the acquisition of IBD. See Note 4—Acquisitions, Disposals and Other Transactions. Contract assets were immaterial for disclosure as of June 30, 2022 and 2021. Other revenue disclosures The Company typically expenses sales commissions to obtain a customer contract as incurred as the amortization period is 12 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 12 months or less, or the receipt of consideration is received within 12 months or less of the transfer of the good or service. During the fiscal year ended June 30, 2022, the Company recognized approximately $395 million 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 June 30, 2022 was approximately $1,210 million, of which approximately $406 million is expected to be recognized during fiscal 2023, $305 million is expected to be recognized in fiscal 2024 and $142 million is expected to be recognized in fiscal 2025, 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.

Acquisitions, Disposals and Oth

Acquisitions, Disposals and Other Transactions	12 Months Ended
	Jun. 30, 2022
Business Combinations [Abstract]
Acquisitions, Disposals and Other Transactions	NOTE 4. ACQUISITIONS, DISPOSALS AND OTHER TRANSACTIONS Fiscal 2022 OPIS In February 2022, the Company acquired the Oil Price Information Service business and related assets (“OPIS”) from S&P Global Inc. (“S&P”) and IHS Markit Ltd. for $1.15 billion in cash, subject to customary purchase price adjustments. OPIS is a global industry standard for benchmark and reference pricing and news and analytics for the oil, natural gas liquids and biofuels industries. The business also provides pricing and news and analytics for the coal, mining and metals end markets and insights and analytics in renewables and carbon pricing. The acquisition enables Dow Jones to become a leading provider of energy and renewables information and furthers its goal of building the leading global business news and information platform for professionals. OPIS is a subsidiary of Dow Jones, and its results are included in the Dow Jones segment. The purchase price allocation has been prepared on a preliminary basis and changes to the preliminary purchase price allocations may occur as additional information concerning asset and liability valuations is finalized. As a result of the acquisition, the Company recorded net tangible liabilities of approximately $1 million primarily related to deferred revenue and accounts receivable and $620 million of identifiable intangible assets, consisting primarily of $528 million of customer relationships with a useful life of 20 years, $54 million in tradenames, including $48 million related to the OPIS tradename, with an indefinite life and $38 million related to technology with a weighted average useful life of six years. In accordance with ASC 350, the excess of the total consideration over the fair values of the net tangible and intangible assets of $536 million was recorded as goodwill on the transaction. REA Group sale of Malaysia and Thailand businesses In August 2021, REA Group acquired an 18% interest (16.6% on a diluted basis) in PropertyGuru Pte. Ltd. (“PropertyGuru”), a leading digital property technology company operating marketplaces in Southeast Asia, in exchange for all shares of REA Group’s entities in Malaysia and Thailand. The transaction was completed after REA Group entered into an agreement to sell its 27% interest in its existing venture with 99.co. The transaction creates a leading digital real estate services company in Southeast Asia, new opportunities for collaboration and access to a deeper pool of expertise, technology and investment in the region. REA Group received one seat on the board of directors of PropertyGuru as part of the transaction. In March 2022, PropertyGuru completed its merger with Bridgetown 2 Holdings Limited. As a result of the merger and subsequent investments made in connection with the transaction, REA Group’s ownership interest in PropertyGuru was 17.5% and a gain of approximately $15 million was recorded in Other, net. Base Chemicals In June 2022, the Company acquired the Base Chemicals (rebranded Chemical Market Analytics, “CMA”) business from S&P for $295 million in cash, subject to customary purchase price adjustments. CMA provides pricing data, insights, analysis and forecasting for key base chemicals through its leading Market Advisory and World Analysis services. The acquisition enables Dow Jones to become a leading provider of base chemicals information and furthers its goal of building the leading global business news and information platform for professionals. CMA is operated by Dow Jones, and its results are included in the Dow Jones segment. The purchase price allocation has been prepared on a preliminary basis and changes to the preliminary purchase price allocations may occur as additional information concerning asset and liability valuations is finalized. As a result of the acquisition, the Company recorded net tangible liabilities of approximately $22 million primarily related to deferred revenue and accounts receivable and $189 million of identifiable intangible assets, consisting primarily of $145 million of customer relationships with a useful life of 20 years, $31 million related to technology with a weighted average useful life of 14 years and $13 million in tradenames with a useful life of 20 years. In accordance with ASC 350, the excess of the total consideration over the fair values of the net tangible and intangible assets of $121 million was recorded as goodwill on the transaction. UpNest In June 2022, the Company acquired UpNest, Inc. (“UpNest”) for closing cash consideration of approximately $45 million, subject to customary purchase price adjustments, and up to $15 million in future cash consideration based upon the achievement of certain performance objectives over the next two years. The Company recorded an $8 million liability related to the contingent consideration, representing the estimated fair value. Included in the closing cash consideration is approximately $9 million that is being held back to satisfy post-closing claims. UpNest is a real estate agent marketplace that matches home sellers and buyers with top local agents who compete for their business. The UpNest acquisition helps Realtor.com ® further expand its services and support for home sellers and listing agents and brokers. UpNest is a subsidiary of Move, and its results are included within the Digital Real Estate Services segment. The purchase price allocation has been prepared on a preliminary basis and changes to the preliminary purchase price allocations may occur as additional information concerning asset and liability valuations is finalized. As a result of the acquisition, the Company recorded approximately $16 million of identifiable intangible assets, consisting primarily of customer relationships and technology platforms. In accordance with ASC 350, the excess of the total consideration over the fair values of the net tangible and intangible assets of approximately $40 million was recorded as goodwill on the transaction. Fiscal 2021 Avail In December 2020, the Company acquired Rentalutions, Inc. (“Avail”) for initial cash consideration of approximately $36 million, net of $4 million of cash acquired, and up to $8 million in future cash consideration based upon the achievement of certain performance objectives over the next three years. The Company recorded a $4 million liability related to the contingent consideration, representing the estimated fair value. Included in the initial cash consideration was approximately $6 million that is being held back to satisfy post-closing claims. Avail is a platform that improves the renting experience for do-it-yourself landlords and tenants with online tools, educational content and world-class support. The acquisition helps Realtor.com ® further expand into the rental space, extend its support for landlords, augment current rental listing content, grow its audience and build brand affinity and long-term relationships with renters. Avail is a subsidiary of Move, and its results are included within the Digital Real Estate Services segment. As a result of the acquisition, the Company recorded approximately $7 million related to the technology platform with a weighted average useful life of five years. In accordance with ASC 350, the excess of the total consideration over the fair values of the net tangible and intangible assets of approximately $32 million was recorded as goodwill on the transaction. Elara In December 2020, the Company acquired a controlling interest in Elara Technologies Pte. Ltd. (rebranded REA India) through a subscription for newly-issued preference shares and the buyout of certain minority shareholders. The total aggregate purchase price associated with the acquisition at the completion date is $138 million which primarily consists of $69 million of cash, the fair value of noncontrolling interests of $37 million and the fair value of the Company’s previously held equity interest in REA India of $22 million. The acquisition of REA India was accounted for in accordance with ASC 805 “Business Combinations,” which requires the Company to re-measure its previously held equity interest in REA India at its acquisition date fair value. The carrying amount of the Company’s previously held equity interest in REA India was $15 million and, accordingly, the Company recognized a gain on remeasurement of $7 million which was recorded in Other, net in the Statement of Operations. As a result of the transactions, REA Group’s shareholding in REA India increased from 13.5% to 59.7%, while News Corporation’s shareholding increased from 22.1% to 39.0%. During the three months ended March 31, 2021, REA Group acquired an additional 0.8% interest in REA India. REA Group and News Corporation now hold all REA India board seats, and the Company began consolidating REA India in December 2020. The Company’s ownership in REA Group was diluted by 0.2% to 61.4% as a result of the transactions. Subsequent to June 30, 2021, REA Group provided additional funding to REA India in exchange for further equity which increased REA Group’s ownership interest to 73.3% and diluted News Corporation’s interest to 26.6%. The acquisition of REA India allows REA Group to be at the forefront of long-term growth opportunities within India and the digitization of the real estate sector. REA India is a subsidiary of REA Group, and its results are reported within the Digital Real Estate Services segment. As a result of the acquisition, the Company recorded net tangible liabilities of $5 million and approximately $31 million of identifiable intangible assets, of which $19 million primarily related to REA India technology platforms with a weighted average useful life of five years and $12 million related to trade names with indefinite lives. In accordance with ASC 350, the excess of the total consideration over the fair values of the net tangible and intangible assets of approximately $113 million was recorded as goodwill on the transaction. Investor’s Business Daily In May 2021, the Company acquired Investor’s Business Daily (“IBD”) for $275 million in cash. IBD is a digital-first financial news and research business with unique investing content, analytical products and educational resources, including the Investors.com website. The acquisition expands Dow Jones’s offerings with the addition of proprietary data and tools to help professional and retail investors identify top-performing stocks. IBD is operated by Dow Jones, and its results are included within the Dow Jones segment. As a result of the acquisition, the Company recorded net tangible liabilities of approximately $16 million primarily related to deferred revenue and approximately $123 million of identifiable intangible assets, consisting primarily of approximately $51 million related to the IBD tradename with an indefinite life, approximately $43 million of subscriber relationships with a useful life of seven years and approximately $20 million related to technology with a useful life of seven years. In accordance with ASC 350, the excess of the total consideration over the fair values of the net tangible and intangible assets of approximately $166 million was recorded as goodwill on the transaction. HMH Books & Media In May 2021, the Company acquired the Books & Media segment of Houghton Mifflin Harcourt (“HMH Books & Media”) for $349 million in cash. HMH Books & Media publishes renowned and awarded children’s, young adult, fiction, non-fiction, culinary and reference titles. The acquisition adds an extensive and successful backlist, a strong frontlist in the lifestyle and children’s segments and a productions business that provides opportunities to expand HarperCollins’s intellectual property across different formats. HMH Books & Media is a subsidiary of HarperCollins and its results are included in the Book Publishing segment. As a result of the acquisition, the Company recorded net tangible assets of approximately $83 million, primarily consisting of accounts receivable, accounts payable, author advances and royalty payables and inventory. In addition, the Company recorded approximately $141 million of identifiable intangible assets, consisting primarily of $104 million of publishing rights for backlist titles with a useful life of nine years and $32 million of publishing licenses with a useful life of nine years. In accordance with ASC 350, the excess of the total consideration over the fair values of the net tangible and intangible assets of approximately $125 million was recorded as goodwill on the transaction. Mortgage Choice In June 2021, REA Group acquired Mortgage Choice Limited (“Mortgage Choice”) for approximately A$244 million in cash (approximately US$183 million based on exchange rates as of the closing date), funded by an increase in REA Group’s debt facilities. Control was transferred and the acquisition became effective and binding on Mortgage Choice shareholders on June 18, 2021 upon court approval. Mortgage Choice is a leading Australian mortgage broking business, and the acquisition complements REA Group’s existing Smartline broker footprint and accelerates REA Group’s financial services strategy to establish a leading mortgage broking business with national scale. Mortgage Choice is a subsidiary of REA Group and its results are included in the Digital Real Estate Services segment. As a result of the acquisition, the Company recorded net tangible assets of A$70 million (US$53 million) consisting primarily of commission contract receivables and payables and approximately A$74 million (US$56 million) of identifiable intangible assets, consisting of A$46 million (US$35 million) related to franchisee relationships with a useful life of 17 years, A$17 million (US$13 million) of software with useful lives ranging from one Fiscal 2020 News America Marketing On May 5, 2020, the Company sold its News America Marketing business, a reporting unit within its News Media segment (the “Disposition”). The aggregate purchase price for the Disposition 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 the Company exercised in fiscal 2021. In the Disposition, the Company retained certain liabilities relating to News America Marketing, including those arising from its legal proceedings with Valassis Communications, Inc. (“Valassis”) and Insignia Systems, Inc. (“Insignia”). See Note 16—Commitments and Contingencies. The major classes of assets and liabilities disposed of were as follows: As of May 5, 2020 (in millions) Receivables, net $ 214 Other current assets 26 Intangible assets, net 225 Other non-current assets 29 Impairment charge on disposal group (a) (175) Total assets $ 319 Accounts payable $ 33 Accrued expenses 65 Deferred revenue 51 Other current liabilities 46 Other non-current liabilities 7 Total liabilities $ 202 ________________________ (a) See Note 8—Goodwill and Other Intangible Assets. Loss before income tax relating to News America Marketing included in the Statements of Operations was $416 million for the fiscal year ended June 30, 2020. Unruly three

Restructuring Programs

Restructuring Programs	12 Months Ended
	Jun. 30, 2022
Restructuring and Related Activities [Abstract]
Restructuring Programs	NOTE 5. RESTRUCTURING PROGRAMS The Company recorded restructuring charges of $94 million, $168 million and $140 million for the fiscal years ended June 30, 2022, 2021 and 2020, respectively, of which $34 million, $122 million and $84 million, respectively, related to the News Media segment. The restructuring charges in fiscal 2022 and fiscal 2020 primarily related to employee termination benefits. The restructuring charges recorded in fiscal 2021 include exit costs associated with the closure of the Company’s Bronx print plant and the termination of a third-party printing contract. Changes in the restructuring program liabilities were as follows: One-time employee termination benefits Facility related costs Other costs Total (in millions) Balance, June 30, 2019 $ 28 $ 2 $ 10 $ 40 Additions 140 — — 140 Payments (109) — (1) (110) Other 5 (2) — 3 Balance, June 30, 2020 $ 64 $ — $ 9 $ 73 Additions 83 — 85 168 Payments (97) — (55) (152) Other 1 — (4) (3) Balance, June 30, 2021 $ 51 $ — $ 35 $ 86 Additions 69 — 25 94 Payments (92) — (19) (111) Other (3) — — (3) Balance, June 30, 2022 $ 25 $ — $ 41 $ 66 As of June 30, 2022 and June 30, 2021 restructuring liabilities of approximately $42 million and $58 million, respectively, were included in the Balance Sheet in Other current liabilities and $24 million and $28 million, respectively, were included in Other non-current liabilities.

Investments

Investments	12 Months Ended
	Jun. 30, 2022
Schedule of Investments [Abstract]
Investments	NOTE 6. INVESTMENTS The Company’s investments were comprised of the following: Ownership Percentage as of June 30, 2022 As of June 30, 2022 2021 (in millions) Equity method investments (a) various $ 276 $ 71 Equity securities (b) various 212 280 Total Investments $ 488 $ 351 ________________________ (a) In the first quarter of fiscal 2022, REA Group acquired an 18% interest (16.6% on a diluted basis) in PropertyGuru in exchange for all shares of REA Group’s entities in Malaysia and Thailand. During the fiscal year ended June 30, 2022, PropertyGuru completed its merger with Bridgetown 2 Holdings Limited. As a result of the merger and subsequent investments made in connection with the transaction, REA Group’s ownership interest in PropertyGuru was 17.5% and a gain of approximately $15 million was recorded in Other, net. Refer to Note 4—Acquisitions, Disposals and Other Transactions and Note 21—Additional Financial Information for further discussion. (b) Equity securities are primarily comprised of Tremor, certain investments in China and the Company’s investment in HT&E Limited, which operates a portfolio of Australian radio and outdoor media assets. 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 fiscal year ended June 30, 2022 2021 2020 (in millions) Total (losses) gains recognized on equity securities $ (59) $ 81 $ (21) Less: Net losses recognized on equity securities sold or impaired — (1) — Unrealized (losses) gains recognized on equity securities held at end of period $ (59) $ 82 $ (21) Equity Losses of Affiliates The Company’s share of the losses of its equity affiliates was $13 million, $65 million and $47 million for the fiscal years ended June 30, 2022, 2021 and 2020, respectively. In fiscal 2021, the losses primarily reflect the $54 million non-cash write-down of the Foxtel Group’s investment in the Nickelodeon Australia Joint Venture. In fiscal 2020, the losses primarily reflect non-cash write-downs of $32 million on certain equity method investments.

Property, Plant and Equipment

Property, Plant and Equipment	12 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	NOTE 7. PROPERTY, PLANT AND EQUIPMENT Original As of June 30, 2022 2021 (in millions) Land $ 120 $ 131 Buildings and leaseholds 3 to 50 years 1,478 1,692 Digital set top units and installations 5 to 10 years 1,109 1,151 Machinery and equipment 2 to 20 years 1,278 1,809 Capitalized software 2 to 15 years 1,707 1,632 Finance lease right-of-use assets 15 years 124 138 5,816 6,553 Less: accumulated depreciation and amortization (a) (3,933) (4,460) 1,883 2,093 Construction in progress 220 179 Total Property, plant and equipment, net $ 2,103 $ 2,272 ________________________ (a) Includes accumulated amortization of capitalized software of approximately $1,135 million and $1,100 million as of June 30, 2022 and 2021, respectively. Depreciation and amortization related to property, plant and equipment was $548 million, $568 million and $537 million for the fiscal years ended June 30, 2022, 2021 and 2020, respectively. This includes amortization of capitalized software of $263 million, $250 million and $231 million for the fiscal years ended June 30, 2022, 2021 and 2020, respectively. Fixed Asset Impairments During the fiscal year ended June 30, 2022, the Company recognized non-cash impairment charges of $15 million related to the write-down of fixed assets associated with the shutdown and anticipated sale of certain U.S. printing facilities at the Dow Jones segment.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	NOTE 8. GOODWILL AND OTHER INTANGIBLE ASSETS The carrying values of the Company’s intangible assets and related accumulated amortization for the fiscal years ended June 30, 2022 and June 30, 2021 were as follows: As of June 30, 2022 2021 (in millions) Intangible Assets Not Subject to Amortization Trademarks and tradenames $ 411 $ 389 Newspaper mastheads 281 282 Imprints 218 250 Radio broadcast licenses 118 136 Total intangible assets not subject to amortization 1,028 1,057 Intangible Assets Subject to Amortization Publishing rights (a) 348 383 Customer relationships (b) 1,233 697 Other (c) 62 42 Total intangible assets subject to amortization, net 1,643 1,122 Total Intangible assets, net $ 2,671 $ 2,179 ________________________ (a) Net of accumulated amortization of $306 million and $275 million as of June 30, 2022 and 2021, respectively. The useful lives of publishing rights range from 3 to 30 years primarily based on the weighted-average remaining contractual terms of the underlying publishing contracts and the Company’s estimates of the period within those terms that the asset is expected to generate a majority of its future cash flows. (b) Net of accumulated amortization of $759 million and $693 million as of June 30, 2022 and 2021, respectively. The useful lives of customer relationships range from 3 to 25 years. The useful lives of these assets are estimated by applying historical attrition rates and determining the resulting period over which a majority of the accumulated undiscounted cash flows related to the customer relationships are expected to be generated. (c) Net of accumulated amortization of $85 million and $81 million as of June 30, 2022 and 2021, respectively. The useful lives of other intangible assets range from 3 to 15 years. The useful lives represent the periods over which these intangible assets are expected to contribute directly or indirectly to the Company’s future cash flows. The Company recognized impairment charges on its intangible assets of $194 million for the fiscal year ended June 30, 2020, primarily related to indefinite-lived intangible assets in the News Media segment. Amortization expense related to amortizable intangible assets was $140 million, $112 million and $108 million for the fiscal years ended June 30, 2022, 2021 and 2020, respectively. Based on the current amount of amortizable intangible assets, the estimated amortization expense for each of the succeeding five fiscal years is as follows: 2023—$163 million; 2024—$154 million; 2025—$151 million; 2026—$148 million; and 2027—$142 million. The changes in the carrying value of goodwill, by segment, are as follows: Digital Real Subscription Dow Jones Book News Media Total (in millions) Balance, June 30, 2020 $ 1,333 $ 885 $ 1,368 $ 264 $ 101 $ 3,951 Acquisitions (a) 224 — 166 124 — 514 Dispositions — — — (1) — (1) Foreign exchange and other 60 93 (2) 26 12 189 Balance, June 30, 2021 $ 1,617 $ 978 $ 1,532 $ 413 $ 113 $ 4,653 Acquisitions (a) 39 — 659 8 32 738 Foreign exchange and other (95) (99) — (14) (14) (222) Balance, June 30, 2022 $ 1,561 $ 879 $ 2,191 $ 407 $ 131 $ 5,169 ________________________ (a) See Note 4—Acquisitions, Disposals and Other Transactions for the primary drivers of increases in goodwill by segment. The carrying amount of goodwill as of June 30, 2022 and 2021 both reflected accumulated impairments of $4.8 billion principally relating to impairments at the Dow Jones and News Media segments that were recognized prior to the Company’s separation of its businesses from Twenty-First Century Fox, Inc. (“21st Century Fox”) on June 28, 2013 (the “Separation”). Annual Impairment Assessments Fiscal 2022 In accordance with ASC 350, the Company’s goodwill and indefinite-lived intangible assets are tested annually in the fourth quarter for impairment or earlier if events occur or circumstances change that would more likely than not reduce the fair values below their carrying amounts. See Note 2—Summary of Significant Accounting Policies. The performance of the Company’s annual impairment analysis resulted in no impairments to goodwill and indefinite-lived intangible assets in fiscal 2022. Significant unobservable inputs utilized in the income approach valuation method were discount rates (ranging from 8.0% to 19.0%), long-term growth rates (ranging from 1.0% to 3.0%) and royalty rates (ranging from 0.25% to 7.0%). Significant unobservable inputs utilized in the market approach valuation method were EBITDA multiples from guideline public companies operating in similar industries and control premiums (ranging from 5.0% to 10.0%). Significant increases (decreases) in royalty rates, growth rates, control premiums and multiples, assuming no change in discount rates, would result in a significantly higher (lower) fair value measurement. Significant decreases (increases) in discount rates, assuming no changes in royalty rates, growth rates, control premiums and multiples, would result in a significantly higher (lower) fair value measurement. Fiscal 2021 The performance of the Company’s annual impairment analysis resulted in no impairments to goodwill and indefinite-lived intangible assets in fiscal 2021. Significant unobservable inputs utilized in the income approach valuation method were discount rates (ranging from 8.0% to 22.0%), long-term growth rates (ranging from 0.0% to 3.0%) and royalty rates (ranging from 0.25% to 6.0%). Significant unobservable inputs utilized in the market approach valuation method were EBITDA multiples from guideline public companies operating in similar industries and control premiums (ranging from 5.0% to 10.0%). Significant increases (decreases) in royalty rates, growth rates, control premiums and multiples, assuming no change in discount rates, would result in a significantly higher (lower) fair value measurement. Significant decreases (increases) in discount rates, assuming no changes in royalty rates, growth rates, control premiums and multiples, would result in a significantly higher (lower) fair value measurement. Fiscal 2020 The performance of the Company’s annual impairment analysis resulted in impairments of $89 million to goodwill and indefinite-lived intangible assets in fiscal 2020, primarily related to goodwill at a reporting unit within the News Media segment. Significant unobservable inputs utilized in the income approach valuation method were discount rates (ranging from 9.0% to 22.5%), long- term growth rates (ranging from 0.0% to 3.0%) and royalty rates (ranging from 0.25% to 6.0%). Significant unobservable inputs utilized in the market approach valuation method were EBITDA multiples from guideline public companies operating in similar industries and control premiums (ranging from 5.0% to 10.0%). Significant increases (decreases) in royalty rates, growth rates, control premiums and multiples, assuming no change in discount rates, would result in a significantly higher (lower) fair value measurement. Significant decreases (increases) in discount rates, assuming no changes in royalty rates, growth rates, control premiums and multiples, would result in a significantly higher (lower) fair value measurement. Foxtel: During the third quarter of fiscal 2020, the Company recognized non-cash impairment charges totaling $931 million related to the goodwill and indefinite-lived intangible assets at its Foxtel reporting unit. Due to the impact of adverse trends resulting from lower expected broadcast subscribers and the impact that COVID-19 was expected to have on advertising, streaming and commercial subscriber revenues in the near term, the Company revised its future outlook which resulted in a reduction in expected future cash flows of the business. As a result, the Company determined that the fair value of the reporting unit was less than its carrying value and recorded non-cash impairment 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%, a long-term growth rate of 2.0% and a royalty rate of 1.5%. The assumptions utilized in the market approach valuation method were EBITDA multiples from guideline public companies operating in similar industries and a control premium of 10.0%. News America Marketing: During the third quarter of fiscal 2020, the Company recognized a non-cash impairment charge of $175 million on the disposal group as a result of the reclassification of its News America Marketing reporting unit to assets held for sale. See Note 4—Acquisitions, Disposals and Other Transactions. During the fiscal year ended June 30, 2020, in addition to the write-down to fair value less costs to sell, the Company recognized non-cash impairment charges of $235 million related to goodwill and indefinite-lived intangible assets at the News America Marketing reporting unit. In the first quarter of fiscal 2020, as a result of the Company’s review of strategic options for the News America Marketing business and other market indicators, the Company determined that the fair value of the reporting unit was less than its carrying value. As a result, the Company recorded non-cash impairment 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%.

Borrowings

Borrowings	12 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Borrowings	NOTE 9. BORROWINGS The Company’s total borrowings consist of the following: Interest rate at June 30, Maturity at June 30, As of June 30, 2022 As of June 30, 2021 (in millions) News Corporation 2022 Term loan A 3.529 % Mar 31, 2027 500 — 2022 Senior notes 5.125 % Feb 15, 2032 492 — 2021 Senior notes 3.875 % May 15, 2029 987 985 Foxtel Group (a) 2019 Credit facility (b) 4.11 % May 31, 2024 68 232 2019 Term loan facility 6.25 % Nov 22, 2024 171 190 2017 Working capital facility (b) 4.11 % May 31, 2024 — — Telstra facility 8.16 % Dec 22, 2027 90 60 2012 US private placement—USD portion—tranche 2 (c) 4.27 % Jul 25, 2022 198 202 2012 US private placement—USD portion—tranche 3 (c) 4.42 % Jul 25, 2024 147 152 2012 US private placement—AUD portion 7.04 % Jul 25, 2022 68 78 REA Group (a) 2022 Credit facility - tranche 1 (d) 2.79 % Sep 16, 2024 273 — 2022 Credit facility - tranche 2 (d) 2.94 % Sep 16, 2025 8 — 2021 Bridge facility — % Jul 31, 2022 — 314 Finance lease liability See Note 10 67 100 Total borrowings 3,069 2,313 Less: current portion (e) (293) (28) Long-term borrowings 2,776 2,285 ________________________ (a) These borrowings were incurred by certain subsidiaries of NXE Australia Pty Limited (the “Foxtel Group” and together with such subsidiaries, the “Foxtel Debt Group”) and REA Group and certain of its subsidiaries (REA Group and certain of its subsidiaries, the “REA Debt Group”), consolidated but non wholly-owned subsidiaries of News Corp, and are only guaranteed by the Foxtel Group and REA Group and their respective subsidiaries, as applicable, and are non-recourse to News Corp. (b) As of June 30, 2022, the Foxtel Debt Group had total undrawn commitments of A$539 million available under these facilities. (c) The carrying values of the borrowings include any fair value adjustments related to the Company’s fair value hedges. See Note 11—Financial Instruments and Fair Value Measurements. (d) As of June 30, 2022, REA Group had total undrawn commitments of A$187 million available under this facility. (e) 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.” $27 million and $28 million relates to the current portion of finance lease liabilities as of June 30, 2022 and 2021, respectively. News Corporation Borrowings Senior Notes In February 2022, the Company issued $500 million of senior notes due 2032 (the “2022 Senior Notes” and, together with the Company’s senior notes due 2029, the “Senior Notes”). The 2022 Senior Notes bear interest at a fixed rate of 5.125% per annum, payable in cash semi-annually on February 15 and August 15 of each year, commencing on August 15, 2022. The notes will mature on February 15, 2032. The Senior Notes are the senior unsecured obligations of the Company and rank equally in right of payment with the Company’s existing and future senior debt, including the other Senior Notes and borrowings under its Term A and Revolving Facilities (as defined below). The Company may redeem all or a part of the Senior Notes upon payment of the redemption prices and applicable premiums, if any, set forth in the indenture governing the applicable Senior Notes (collectively the “Indentures”), plus any accrued and unpaid interest. In addition, at any time prior to specified dates in 2024 and 2025, the Company may redeem up to 40% of the aggregate principal amount of the applicable Senior Notes with the net cash proceeds of certain equity offerings at the redemption price set forth in the applicable Indenture, plus any accrued and unpaid interest. In the event of specified change in control events, the Company must offer to purchase the outstanding Senior Notes from the holders at a purchase price equal to 101% of the principal amount, plus any accrued and unpaid interest. There are no financial maintenance covenants with respect to the Senior Notes. The Indentures contain other covenants that, among other things and subject to certain exceptions, (i) limit the Company’s ability and the ability of its subsidiaries to incur any liens securing indebtedness for borrowed money and (ii) limit the Company’s ability to consolidate or merge with or into another person or sell or otherwise dispose of all or substantially all of the assets of the Company and its subsidiaries (taken as a whole). Term Loan A and Revolving Credit Facilities On March 29, 2022, the Company terminated its existing unsecured $750 million revolving credit facility and entered into a new credit agreement (the “2022 Credit Agreement”) that provides for $1,250 million of unsecured credit facilities comprised of a $500 million unsecured term loan A credit facility (the “Term A Facility” and the loans under the Term A Facility are collectively referred to as “Term A Loans”) and a $750 million unsecured revolving credit facility (the “Revolving Facility” and, together with the Term A Facility, the “Facilities”) that can be used for general corporate purposes. The Revolving Facility has a sublimit of $100 million available for issuances of letters of credit. Under the 2022 Credit Agreement, the Company may request increases with respect to either Facility in an aggregate principal amount not to exceed $250 million. The Term A Loans will amortize in equal quarterly installments in an aggregate annual amount equal to 0.0%, 2.5%, 2.5%, 5.0% and 5.0%, respectively, of the original principal amount of the Term A Facility for each 12-month period commencing on June 30, 2022. The loans under the Revolving Facility will not amortize. All outstanding amounts under the 2022 Credit Agreement with respect to the Facilities are due on March 31, 2027, unless earlier terminated in the circumstances set forth in the 2022 Credit Agreement. The Company may request that the maturity date of the Term A Facility be extended under certain circumstances as set forth in the 2022 Credit Agreement by at least one year. The Company may also request that the maturity date of the revolving credit commitments under the Revolving Facility be extended under certain circumstances as set forth in the 2022 Credit Agreement for up to two additional one-year periods. Interest on borrowings is based on either (a) an Alternative Currency Term Rate formula, (b) a Term SOFR formula, (c) an Alternative Currency Daily Rate formula ((a) through (c) each, a “Relevant Rate”) or (d) the Base Rate formula, each as set forth in the 2022 Credit Agreement. The applicable margin for borrowings under the Facilities and the commitment fee for undrawn balances under the Revolving Facility are based on the pricing grid in the 2022 Credit Agreement, which varies based on the Company’s adjusted operating income net leverage ratio. At June 30, 2022, the Company was paying commitment fees of 0.20% on any undrawn balance under the Revolving Facility and, with respect to any outstanding borrowings under the Facilities, an applicable margin of 0.375% for a Base Rate borrowing and 1.375% for a Relevant Rate borrowing. The Company entered into an interest rate swap derivative to fix the floating rate interest component of its Term A Loans at 2.083%. Refer to Note 11—Financial Instruments and Fair Value Measurements for further detail. The Company borrowed the full amount of the Term A Facility on March 31, 2022 and had not borrowed any funds under the Revolving Facility as of June 30, 2022. The 2022 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 2022 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. Foxtel Group Borrowings The Foxtel Group has borrowings under the following facilities, as well as outstanding U.S. private placement senior unsecured notes: • An A$610 million 2019 revolving credit facility and A$40 million 2017 working capital facility. Borrowings under these facilities bear interest at a floating rate of the Australian BBSY plus an applicable margin of between 2.00% and 3.25% per annum, depending on the Foxtel Debt Group’s net leverage ratio. The Foxtel Debt Group pays a commitment fee of 45% of the applicable margin for any undrawn amounts under these facilities. • A fully drawn A$250 million term loan facility. Borrowings under this facility bear interest at a fixed rate of 6.25% per annum. • An A$170 million subordinated shareholder loan facility with Telstra Corporation Limited (the “Telstra Facility”), which owns a 35% interest in the Foxtel Group. Borrowings under the Telstra Facility can be used to finance cable transmission costs due to Telstra under a services arrangement between the Foxtel Group and Telstra and bear interest at a variable rate of the Australian BBSY plus a margin of 7.75%. The terms of the Telstra Facility allow for the capitalization of accrued interest to the principal outstanding. The Company excludes borrowings under this facility from the Statements of Cash Flows as they are non-cash. The agreements governing the Foxtel Debt Group’s external borrowings (revolving credit facilities, the term loan facility and the U.S. private placement senior unsecured notes) contain customary affirmative and negative covenants and events of default, with customary exceptions, including specified financial and non-financial covenants calculated in accordance with Australian International Financial Reporting Standards. Subject to certain exceptions, these covenants restrict or prohibit members of the Foxtel Debt Group from, among other things, undertaking certain transactions, disposing of certain properties or assets (including subsidiary stock), merging or consolidating with any other person, making financial accommodation available, giving guarantees, entering into certain other financing arrangements, creating or permitting certain liens, engaging in transactions with affiliates, making repayments of certain other loans 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 3.25 to 1.0. The agreements also require the Foxtel Debt Group to maintain a net interest coverage ratio of not less than 3.5 to 1.0. There are no assets pledged as collateral for any of the borrowings. REA Group Facilities During the fiscal year ended June 30, 2022, REA Group completed a debt refinancing in which it repaid all amounts outstanding under its 2021 Bridge facility with the proceeds from a new A$600 million unsecured syndicated credit facility (the “2022 Credit Facility”) consisting of two sub-facilities: (i) a three year, A$400 million revolving loan facility (the “2022 Credit facility — tranche 1”) and (ii) a four year, A$200 million revolving loan facility (the “2022 Credit facility — tranche 2”). REA Group may request increases in the amount of the 2022 Credit Facility up to a maximum amount of A$500 million, subject to the terms and limitations set forth in the syndicated facility agreement. Borrowings under the 2022 Credit facility — tranche 1 accrue interest at a rate of the Australian BBSY plus a margin of between 1.00% and 2.10%, depending on REA Group’s net leverage ratio. Borrowings under the 2022 Credit facility — tranche 2 accrue interest at a rate of the Australian BBSY plus a margin of between 1.15% and 2.25%, depending on REA Group’s net leverage ratio. Both tranches carry a commitment fee of 40% of the applicable margin on any undrawn balance. The 2022 Credit Facility requires REA Group to maintain (i) a net leverage ratio of not more than 3.5 to 1.0 and (ii) an interest coverage ratio of not less than 3.0 to 1.0. The syndicated facility agreement also contains certain other customary affirmative and negative covenants and events of default. Subject to certain exceptions, these covenants restrict or prohibit REA Group and its subsidiaries from, among other things, incurring or guaranteeing debt, disposing of certain properties or assets, merging or consolidating with any other person, making financial accommodation available, entering into certain other financing arrangements, creating or permitting certain liens, engaging in non arms’ length transactions with affiliates, undergoing fundamental business changes and making restricted payments. Covenants The Company’s borrowings and those of its consolidated subsidiaries 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 applicable debt agreements may be declared immediately due and payable. The Company was in compliance with all such covenants at June 30, 2022. Future maturities The following table summarizes the Company’s debt maturities, excluding debt issuance costs and finance lease liabilities, as of June 30, 2022: As of June 30, 2022 (in millions) Fiscal 2023 $ 271 Fiscal 2024 81 Fiscal 2025 602 Fiscal 2026 33 Fiscal 2027 450 Thereafter 1,590

Leases

Leases	12 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Leases	NOTE 10. LEASES On July 1, 2019, the Company adopted ASU 2016-02 on a modified retrospective basis and recognized a $9 million cumulative-effect adjustment to the opening balance of Accumulated deficit related to previous sale leaseback transactions. Summary of leases The Company's operating leases primarily consist of real estate, including office space, warehouse space and printing facilities, and satellite transponders. During the fourth quarter of fiscal 2020, the Company modified its contract related to its satellite transponders which resulted in certain transponders being classified as finance leases. Certain leases for satellite transponders were determined to be operating leases in accordance with ASU 2016-02. The Company’s operating leases generally include options to extend the lease term or terminate the lease. Such options do not impact the Company’s lease term assessment until the Company is reasonably certain that the option will be exercised. 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 and finance leases included in the Statements of Operations was as follows: For the fiscal years ended June 30, 2022 2021 2020 Income Statement Location (in millions) Operating lease costs Selling, general and administrative $ 125 $ 135 $ 139 Operating lease costs Operating expenses 36 37 64 Finance lease costs Depreciation and amortization 27 27 6 Finance lease costs Interest expense, net 3 4 1 Short term lease costs Operating expenses 12 15 9 Variable lease costs Selling, general and administrative 24 28 41 Total lease costs $ 227 $ 246 $ 260 Additional information related to the Company’s operating and finance leases under ASU 2016-02: As of June 30, 2022 As of June 30, 2021 Operating Leases Finance Leases Operating Leases Finance Leases Weighted-average remaining lease term 11.0 years 2.8 years 11.8 years 3.7 years Weighted-average incremental borrowing rate 3.56 % 3.64 % 3.54 % 3.64 % For the fiscal years ended June 30, 2022 2021 (in millions) Cash paid - Operating lease liabilities $ 182 $ 184 Cash paid - Finance lease liabilities - principal 27 30 Cash paid - Finance lease liabilities - interest 3 4 Operating lease right-of-use assets obtained in exchange for operating lease liabilities 72 25 Future minimum lease payments as of June 30, 2022 are as follows: As of June 30, 2022 Operating Leases Finance Leases (in millions) Fiscal 2023 $ 172 $ 29 Fiscal 2024 157 26 Fiscal 2025 143 15 Fiscal 2026 126 — Fiscal 2027 120 — Thereafter 614 — Total future minimum lease payments $ 1,332 $ 70 Less: interest (246) (3) Present value of minimum payments $ 1,086 $ 67
Leases	NOTE 10. LEASES On July 1, 2019, the Company adopted ASU 2016-02 on a modified retrospective basis and recognized a $9 million cumulative-effect adjustment to the opening balance of Accumulated deficit related to previous sale leaseback transactions. Summary of leases The Company's operating leases primarily consist of real estate, including office space, warehouse space and printing facilities, and satellite transponders. During the fourth quarter of fiscal 2020, the Company modified its contract related to its satellite transponders which resulted in certain transponders being classified as finance leases. Certain leases for satellite transponders were determined to be operating leases in accordance with ASU 2016-02. The Company’s operating leases generally include options to extend the lease term or terminate the lease. Such options do not impact the Company’s lease term assessment until the Company is reasonably certain that the option will be exercised. 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 and finance leases included in the Statements of Operations was as follows: For the fiscal years ended June 30, 2022 2021 2020 Income Statement Location (in millions) Operating lease costs Selling, general and administrative $ 125 $ 135 $ 139 Operating lease costs Operating expenses 36 37 64 Finance lease costs Depreciation and amortization 27 27 6 Finance lease costs Interest expense, net 3 4 1 Short term lease costs Operating expenses 12 15 9 Variable lease costs Selling, general and administrative 24 28 41 Total lease costs $ 227 $ 246 $ 260 Additional information related to the Company’s operating and finance leases under ASU 2016-02: As of June 30, 2022 As of June 30, 2021 Operating Leases Finance Leases Operating Leases Finance Leases Weighted-average remaining lease term 11.0 years 2.8 years 11.8 years 3.7 years Weighted-average incremental borrowing rate 3.56 % 3.64 % 3.54 % 3.64 % For the fiscal years ended June 30, 2022 2021 (in millions) Cash paid - Operating lease liabilities $ 182 $ 184 Cash paid - Finance lease liabilities - principal 27 30 Cash paid - Finance lease liabilities - interest 3 4 Operating lease right-of-use assets obtained in exchange for operating lease liabilities 72 25 Future minimum lease payments as of June 30, 2022 are as follows: As of June 30, 2022 Operating Leases Finance Leases (in millions) Fiscal 2023 $ 172 $ 29 Fiscal 2024 157 26 Fiscal 2025 143 15 Fiscal 2026 126 — Fiscal 2027 120 — Thereafter 614 — Total future minimum lease payments $ 1,332 $ 70 Less: interest (246) (3) Present value of minimum payments $ 1,086 $ 67

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	12 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Financial Instruments and Fair Value Measurements	NOTE 11. FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS In accordance with 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: June 30, 2022 June 30, 2021 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total (in millions) Assets: Interest rate derivatives—cash flow hedges $ — $ 24 $ — $ 24 $ — $ — $ — $ — Foreign currency derivatives—cash flow hedges — 1 — 1 — — — — Cross-currency interest rate derivatives—fair value hedges — 19 — 19 — 18 — 18 Cross-currency interest rate derivatives — 79 — 79 — 73 — 73 Equity securities (a) 109 — 103 212 164 — 116 280 Total assets $ 109 $ 123 $ 103 $ 335 $ 164 $ 91 $ 116 $ 371 Liabilities: Interest rate derivatives—cash flow hedges $ — $ — $ — $ — $ — $ 9 $ — $ 9 Cross-currency interest rate derivatives — — — — — 13 — 13 Total liabilities $ — $ — $ — $ — $ — $ 22 $ — $ 22 ________________________ (a) See Note 6—Investments. 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 fiscal year ended June 30, 2022 2021 (in millions) Balance—beginning of year $ 116 $ 123 Additions 28 11 Returns of capital (45) (8) Measurement adjustments 23 21 Foreign exchange and other (a) (19) (31) Balance—end of year $ 103 $ 116 ________________________ (a) During the fiscal year ended June 30, 2022, the Company reclassified its investment in an equity security from Level 3 to Level 1 within the fair value hierarchy as the investment became publicly traded in the first quarter of fiscal 2022. During the three months ended December 31, 2020, the Company reclassified its investment in Tremor from Level 3 to Level 1 within the fair value hierarchy, as the sale restrictions were expected to lapse within 12 months. 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 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 and News Corporation borrowings. During the fiscal year ended June 30, 2022, the Company entered into an interest rate swap derivative with a $500 million notional amount to exchange the floating rate interest component of its Term A Loans for a fixed rate of 2.083%. This interest rate swap derivative is accounted for as a cash flow hedge under ASC 815. The Company formally designates qualifying derivatives as hedge relationships (“hedges”) and applies hedge accounting when considered appropriate. The Company does not use derivative financial instruments for trading or speculative purposes. Derivatives are classified as current or non-current in the Balance Sheets based on their maturity dates. Refer to the table below for further details: Fair value as of June 30, Balance Sheet Location 2022 2021 (in millions) Foreign currency derivatives—cash flow hedges Other current assets $ 1 $ — Cross-currency interest rate derivatives—fair value hedges Other current assets 11 — Interest rate derivatives - cash flow hedges Other current assets 4 — Cross-currency interest rate derivatives Other current assets 46 — Interest rate derivatives - cash flow hedges Other non-current assets 20 — Cross-currency interest rate derivatives—fair value hedges Other non-current assets 8 18 Cross-currency interest rate derivatives Other non-current assets 33 73 Interest rate derivatives—cash flow hedges Other current liabilities — (6) Interest rate derivatives—cash flow hedges Other non-current liabilities — (3) Cross-currency interest rate derivatives Other non-current liabilities — (13) Cash flow hedges The Company utilizes a combination of foreign currency derivatives and 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 and certain programming rights. The total notional value of foreign currency contract derivatives designated for hedging was $21 million as of June 30, 2022. The maximum hedged term over which the Company is hedging exposure to foreign currency fluctuations is one year. As of June 30, 2022, the Company estimates that approximately $1 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 Statements of Operations within the next 12 months. The total notional value of interest rate swap derivatives designated for hedging was approximately A$350 million and $500 million as of June 30, 2022 for Foxtel Debt Group and News Corporation borrowings, respectively. The maximum hedged term over which the Company is hedging exposure to variability in interest payments is to March 2027. As of June 30, 2022, the Company estimates that approximately $5 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 Statements of Operations within the next 12 months. Cash flow derivatives The Company utilizes cross-currency interest rate derivatives to mitigate currency exchange and interest rate risk in relation to future interest and principal payments. The Company determined that these cash flow hedges no longer qualified as highly effective as of December 31, 2020 primarily due to changes in foreign exchange and interest rates. Amounts recognized in Accumulated other comprehensive loss during the periods the hedges were considered highly effective will continue to be reclassified out of Accumulated other comprehensive loss over the remaining term of the derivatives. Changes in the fair values of these derivatives will be recognized within Other, net in the Statements of Operations on a prospective basis. The total notional value of cross-currency interest rate swaps for which the Company discontinued hedge accounting was approximately $280 million as of June 30, 2022. The maximum hedged term over which the Company is hedging exposure to variability in interest and principal payments is to July 2024. As of June 30, 2022, the Company estimates that approximately $1 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 Statements of Operations within the next 12 months. The following table presents the impact that changes in the fair values had on Accumulated other comprehensive loss and the Statements of Operations during the fiscal years ended June 30, 2022, 2021 and 2020 for both derivatives designated as cash flow hedges that continue to be highly effective and derivatives initially designated as cash flow hedges but for which hedge accounting was discontinued as of December 31, 2020: Gain (loss) recognized in Accumulated Other Comprehensive Loss for the fiscal year ended June 30, Income statement location 2022 2021 2020 (in millions) Foreign currency derivatives—cash flow hedges $ 2 $ 3 $ (2) Operating expenses Cross-currency interest rate derivatives — (15) — Interest expense, net Interest rate derivatives—cash flow hedges 30 — (7) Interest expense, net Total $ 32 $ (12) $ (9) (Gain) loss reclassified from Accumulated Other Comprehensive Loss for the fiscal year ended June 30, Income statement location 2022 2021 2020 (in millions) Foreign currency derivatives—cash flow hedges $ — $ (1) $ (2) Operating expenses Cross-currency interest rate derivatives (4) 11 3 Interest expense, net Interest rate derivatives—cash flow hedges (2) 5 (3) Interest expense, net Total $ (6) $ 15 $ (2) The amounts recognized in Other, net in the Statements of Operations resulting from the changes in fair value of cross-currency interest rate derivatives that were discontinued as cash flow hedges due to hedge ineffectiveness as of December 31, 2020 were a gain of approximately $25 million for the fiscal year ended June 30, 2022 and a gain of approximately $11 million for the fiscal year ended June 30, 2021. Fair value hedges Borrowings in Australia 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. During the fiscal year ended June 30, 2022, such adjustments increased the carrying value of borrowings by nil. The total notional value of the fair value hedges was approximately $70 million as of June 30, 2022. The maximum hedged term over which the Company is hedging exposure to variability in interest payments is to July 2024. During fiscal 2022, 2021 and 2020, the amount recognized in the Statements 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 June 30, 2022 and 2021: As of June 30, 2022 2021 Borrowings: (in millions) Carrying amount of hedged item $ 68 $ 71 Cumulative hedging adjustments included in the carrying amount 2 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 fourth quarter of fiscal 2020, the Company recognized non-cash impairment charges of $203 million related to fixed assets in the U.K. and Australia. The carrying values of property, plant and equipment subsequent to the impairment charges at the Australian and U.K. newspapers reporting units were $235 million and $207 million, respectively. See Note 7—Property, Plant and Equipment. During the third quarter of fiscal 2020, the Company recognized non-cash impairment charges of $882 million and $49 million related to goodwill and indefinite-lived intangible assets, respectively, at its Foxtel reporting unit. The carrying value of goodwill at Foxtel decreased from $1,668 million to $786 million and the value of indefinite-lived intangible assets decreased from $189 million to $140 million. See Note 8—Goodwill and Other Intangible Assets. During the first quarter of fiscal 2020, the Company recognized non-cash impairment charges of $122 million and $113 million related to goodwill and indefinite-lived intangible assets, respectively, at the News America Marketing reporting unit. The carrying value of goodwill at News America Marketing decreased from $122 million to nil and the value of indefinite-lived intangible assets decreased from $308 million to $195 million. See Note 8—Goodwill and Other Intangible Assets. Other Fair Value Measurements As of June 30, 2022, the carrying value of the Company’s outstanding borrowings approximates the fair value. The 2022 Senior Notes, 2021 Senior Notes and U.S. private placement borrowings are classified as Level 2 and the remaining borrowings are classified as Level 3 in the fair value hierarchy.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Jun. 30, 2022
Stockholders' Equity Note [Abstract]
Stockholders' Equity	NOTE 12. STOCKHOLDERS’ EQUITY Authorized Capital Stock The Company’s authorized capital stock consists of 1,500,000,000 shares of Class A Common Stock, par value $0.01 per share, 750,000,000 shares of Class B Common Stock, par value $0.01 per share, 25,000,000 shares of Series Common Stock, par value $0.01 per share, and 25,000,000 shares of Preferred Stock, par value $0.01 per share. Common Stock and Preferred Stock Shares Outstanding —As of June 30, 2022, the Company had approximately 388 million shares of Class A Common Stock outstanding at a par value of $0.01 per share and approximately 197 million shares of Class B Common Stock outstanding at a par value of $0.01 per share. As of June 30, 2022, the Company had no shares of Series Common Stock or Preferred Stock outstanding. Dividends— The following table summarizes the dividends declared and paid per share on both the Company’s Class A Common Stock and Class B Common Stock: For the fiscal years ended June 30, 2022 2021 2020 Cash dividends paid per share $ 0.20 $ 0.20 $ 0.20 The timing, declaration, amount and payment of future dividends to stockholders, if any, is within the discretion of the Company’s Board of Directors (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. Voting Rights —Holders of the Company’s Class A Common Stock are entitled to vote only in the limited circumstances set forth in the Company’s Restated Certificate of Incorporation (the “Charter”). Holders of the Company’s Class B Common Stock are entitled to one vote for each share held of record on all matters submitted to a vote of the stockholders. Liquidation Rights —In the event of a liquidation or dissolution of the Company, holders of Class A Common Stock and Class B Common Stock shall be entitled to receive all of the remaining assets of the Company available for distribution to its stockholders, ratably in proportion to the number of shares held by Class A Common Stock holders and Class B Common Stock holders, respectively. In the event of any merger or consolidation with or into another entity, the holders of Class A Common Stock and the holders of Class B Common Stock shall generally be entitled to receive substantially identical per share consideration. Under the Company’s Charter, the Board of Directors is authorized to issue shares of preferred stock or series common stock at any time, without stockholder approval, in one or more series and to fix the number of shares, designations, voting powers, if any, preferences and relative, participating, optional and other rights of such series, as well as any applicable qualifications, limitations or restrictions, to the full extent permitted by Delaware law, subject to the limitations set forth in the Charter, including stockholder approval requirements with respect to the issuance of preferred stock or series common stock entitling holders thereof to more than one vote per share. Stock Repurchases On September 22, 2021, the Company announced a new stock repurchase program authorizing the Company to purchase up to $1 billion in the aggregate of its outstanding Class A Common Stock and Class B Common Stock (the “Repurchase Program”). The Repurchase Program replaces the Company’s $500 million Class A Common Stock repurchase program approved by the Board of Directors in May 2013. The manner, timing, number and share price of any repurchases will be determined by the Company at its discretion and will depend upon such factors as the market price of the stock, general market conditions, applicable securities laws, alternative investment opportunities and other factors. The Repurchase Program has no time limit and may be modified, suspended or discontinued at any time. As of June 30, 2022, the remaining authorized amount under the Repurchase Program was approximately $817 million. Stock repurchases commenced on November 9, 2021. During the fiscal year ended June 30, 2022, the Company repurchased and subsequently retired 5.8 million shares of Class A Common Stock for approximately $122 million and 2.9 million shares of Class B Common Stock for approximately $61 million. The Company did not purchase any of its Class A Common Stock or Class B Common Stock during the fiscal years ended June 30, 2021 and 2020. Stockholder Rights Agreement On September 21, 2021, the Company amended the Fourth Amended and Restated Rights Agreement (as discussed in the Notes to the Consolidated Financial Statements included in the 2021 Form 10-K) (the “Rights Agreement”) to accelerate the expiration of the rights under the Rights Agreement to 11:59 P.M. (New York City time) on September 21, 2021, thereby terminating the Rights Agreement at such time. On the same date, the Company also entered into a stockholders agreement (the “Stockholders Agreement”) by and between the Company and the Murdoch Family Trust (the “MFT”). Pursuant to the Stockholders Agreement, the MFT and the Company have agreed not to take actions that would result in the MFT and Murdoch family members, including K. Rupert Murdoch, the Company’s Executive Chairman, and Lachlan K. Murdoch, the Company’s Co-Chairman, together owning more than 44% of the outstanding voting power of the shares of the Company’s Class B Common Stock (“Class B

Equity-Based Compensation

Equity-Based Compensation	12 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Equity-Based Compensation	NOTE 13. EQUITY-BASED COMPENSATION Employees, Directors and other service providers of the Company (“participants”) are eligible to participate in the News Corporation 2013 Long-Term Incentive Plan (as amended and restated, the “2013 LTIP”), which provides for equity-based compensation including performance stock units (“PSUs”), restricted stock units (“RSUs”) and other types of awards. The Company has the ability to award up to 50 million shares of Class A Common Stock under the terms of the 2013 LTIP. All shares of Class A Common Stock reserved for cancelled or forfeited equity-based compensation awards under the 2013 LTIP become available for future grants. The following table summarizes the Company’s equity-based compensation expense reported in the Statements of Operations: For the fiscal years ended June 30, 2022 2021 2020 (in millions) Total equity compensation expense $ 59 $ 128 $ 69 As of June 30, 2022, the total compensation cost not yet recognized for all unvested awards held by participants was approximately $69 million and is expected to be recognized over a weighted average period of between one The tax benefit recognized on PSUs and RSUs for participants that vested during the applicable fiscal year was $25 million, $18 million and $24 million for the fiscal years ended June 30, 2022, 2021 and 2020, respectively. Summary of Incentive Plans The fair value of equity-based compensation granted under the 2013 LTIP is calculated according to the type of award issued. Cash-settled awards are marked-to-market at the end of each reporting period. Performance Stock Units PSUs are grants that entitle the holder to shares of the Company’s Class A Common Stock or the cash equivalent value of such shares based on the achievement of pre-established performance metrics over the applicable performance period. The fair value of PSUs is determined on the date of grant and expensed using a straight-line method over the applicable vesting period. The expense is adjusted to reflect the number of shares expected to vest based on management’s determination of the probable achievement of the pre-established performance metrics. The Company records a cumulative adjustment in periods in which its estimate of the number of shares expected to vest changes. Additionally, the Company ultimately adjusts the expense recognized to reflect the actual vested shares following the final determination of the achievement of the performance conditions. Any person who holds PSUs shall have no ownership interest in the shares or cash to which such PSUs relate unless and until the shares or cash are delivered to the holder. Each PSU is entitled to receive dividend equivalents for each regular cash dividend on the Class A Common Stock paid by the Company during the award period, subject to the same terms and conditions as apply to the underlying award. During fiscal 2022, 2021 and 2020, certain participants in the 2013 LTIP received grants of PSUs which have a three three three During fiscal 2022, 2021 and 2020, the Company granted approximately 1.0 million, 1.6 million and 2.1 million PSUs, respectively, at target to participants, of which approximately 0.6 million, 0.8 million and 1.2 million PSUs, respectively, will be settled in Class A Common Stock, with the remaining PSUs, which are granted to executive Directors and to employees in certain foreign locations, being settled in cash, assuming performance conditions are met. During fiscal 2022, 2021 and 2020, approximately 3.0 million, 3.6 million and 6.3 million PSUs respectively, vested, of which approximately 1.0 million, 1.2 million and 1.6 million PSUs, respectively, were settled in cash for approximately $24 million, $18 million and $21 million, respectively, before statutory tax withholdings. Restricted Stock Units RSUs are grants that entitle the holder to shares of the Company’s Class A Common Stock or the cash equivalent value of such shares. The fair value of RSUs is based upon the fair market value of the shares underlying the awards on the grant date and expensed using a straight-line method over the applicable vesting period. Any person who holds RSUs shall have no ownership interest in the shares or cash to which such RSUs relate unless and until the shares or cash are delivered to the holder. Each RSU is entitled to receive dividend equivalents for each regular cash dividend on the Class A Common Stock paid by the Company during the award period, subject to the same terms and conditions as apply to the underlying award. During fiscal 2022, 2021 and 2020, certain participants in the 2013 LTIP received grants of time-vested RSUs. Vesting of the awards is subject to the participants’ continued service with the Company through the applicable vesting date. During the fiscal years ended June 30, 2022, 2021 and 2020, 3.0 million, 3.4 million and 4.2 million RSUs, respectively, were granted to participants, of which approximately 0.6 million, 1.0 million and 0.9 million RSUs, respectively, which are granted to employees in certain foreign locations, will be settled in cash, with the remaining RSUs outstanding being settled in Class A Common Stock. These RSUs have graded vesting primarily over three years. During fiscal 2022 and 2021, approximately 2.1 million and 1.6 million RSUs, respectively, vested, of which approximately 0.5 million and 0.3 million RSUs, respectively, were settled in cash for approximately $13 million and $4 million, respectively, before statutory tax withholdings. The following table summarizes the activity related to the target PSUs and RSUs granted to participants that will be settled in shares of the Company (PSUs and RSUs in thousands): Fiscal 2022 Fiscal 2021 Fiscal 2020 Number of shares Weighted average grant- date fair value Number of shares Weighted average grant- date fair value Number of shares Weighted average grant- date fair value PSUs and RSUs Unvested units at beginning of the year 7,022 $ 14.61 7,717 $ 13.39 10,280 $ 13.70 Granted (a) 3,475 21.96 3,546 15.59 4,468 12.79 Vested (b) (3,526) 13.56 (3,676) 13.30 (5,565) 14.12 Cancelled (c) (674) 19.12 (565) 15.05 (1,466) 10.97 Unvested units at the end of the year 6,297 $ 18.65 7,022 $ 14.61 7,717 $ 13.39 ________________________ (a) For fiscal 2022, includes 0.6 million target PSUs and 2.4 million RSUs granted and a payout adjustment of 0.5 million PSUs due to the actual performance level achieved for PSUs granted in fiscal 2019 that vested during fiscal 2022. For fiscal 2021, includes 0.8 million target PSUs and 2.4 million RSUs granted and a payout adjustment of 0.3 million PSUs due to the actual performance level achieved for PSUs granted in fiscal 2018 that vested during fiscal 2021. For fiscal 2020, includes 1.1 million target PSUs and 3.3 million RSUs granted and a payout adjustment of 0.1 million PSUs due to the actual performance level achieved for PSUs granted in fiscal 2019 that vested during fiscal 2020. (b) The fair value of PSUs and RSUs held by participants that vested during the fiscal years ended June 30, 2022, 2021 and 2020 was $48 million, $49 million and $79 million, respectively. (c) For fiscal 2022, includes 0.2 million of target PSUs and 0.5 million RSUs cancelled. For fiscal 2021, includes 0.3 million of target PSUs and 0.3 million RSUs cancelled.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	12 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	NOTE 14. 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 fiscal years ended June 30, 2022 2021 2020 (in millions, except per share amounts) Net income (loss) $ 760 $ 389 $ (1,545) Less: Net (income) loss attributable to noncontrolling interests (137) (59) 276 Net income (loss) attributable to News Corporation stockholders $ 623 $ 330 $ (1,269) Weighted-average number of shares of common stock outstanding—basic 589.5 590.4 587.9 Dilutive effect of equity awards (a) 3.0 3.0 — Weighted-average number of shares of common stock outstanding—diluted 592.5 593.4 587.9 Net income (loss) attributable to News Corporation stockholders per share - basic $ 1.06 $ 0.56 $ (2.16) Net income (loss) attributable to News Corporation stockholders per share - diluted $ 1.05 $ 0.56 $ (2.16) ________________________ (a) The dilutive impact of the Company’s PSUs, RSUs and stock options has been excluded from the calculation of diluted loss per share for the fiscal year ended June 30, 2020 because their inclusion would have an antidilutive effect on the net loss per share.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Jun. 30, 2022
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 15. RELATED PARTY TRANSACTIONS Related Party Transactions In the ordinary course of business, the Company enters into transactions with related parties to purchase and/or sell advertising and administrative services. The Company has also previously entered into transactions with related parties to sell certain broadcast rights. The following table sets forth the net revenue from related parties included in the Statements of Operations: For the fiscal years ended June 30, 2022 2021 2020 (in millions) Related party revenue (expense), net $ (10) $ (35) $ (69) The following table sets forth the amount of receivables due from and payables due to related parties outstanding on the Balance Sheets: As of June 30, 2022 2021 (in millions) Accounts receivable from related parties $ 14 $ 8 Accounts payable to related parties 10 2

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 16. COMMITMENTS AND CONTINGENCIES Commitments The Company has commitments under certain firm contractual arrangements (“firm commitments”) to make future payments. These firm commitments secure the current and future rights to various assets and services to be used in the normal course of operations. The following table summarizes the Company’s material firm commitments as of June 30, 2022: As of June 30, 2022 Payments Due by Period Total Less than 1 year 1-3 years 3-5 years More than 5 years (in millions) Purchase obligations (a) $ 930 $ 469 $ 328 $ 69 $ 64 Sports programming rights (b) 1,708 460 795 381 72 Programming costs (c) 568 262 272 30 4 Operating leases (d) Transmission costs (e) 170 26 46 35 63 Land and buildings 1,126 139 245 217 525 Plant and machinery 11 5 5 1 — Finance leases Transmission costs (e) 70 29 41 — — Borrowings (f) 3,027 271 683 483 1,590 Interest payments on borrowings (g) 710 118 206 177 209 Total commitments and contractual obligations $ 8,320 $ 1,779 $ 2,621 $ 1,393 $ 2,527 ________________________ (a) The Company has commitments under purchase obligations related to minimum subscriber guarantees for license fees, printing contracts, capital projects, marketing agreements, production services and other legally binding commitments. (b) The Company has sports programming rights commitments with the National Rugby League, Australian Football League and Cricket Australia, as well as certain other broadcast rights which are payable through fiscal 2028. (c) The Company has programming rights commitments with various suppliers for programming content. (d) The Company leases office facilities, warehouse facilities, printing plants, satellite services and equipment. These leases, which are classified as operating leases, are expected to be paid at certain dates through fiscal 2048. Amounts reflected represent only the Company’s lease obligations for which it has firm commitments. (e) The Company has contractual commitments for satellite transmission services. The Company’s satellite transponder services arrangements extend through fiscal 2032 and are accounted for as operating or finance leases, based on the underlying terms of those arrangements. (f) See Note 9—Borrowings. (g) Reflects the Company’s expected future interest payments based on borrowings outstanding and interest rates applicable at June 30, 2022. Such rates are subject to change in future periods. See Note 9—Borrowings. 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 2020, the Company sold its News America Marketing business. In the Disposition, the Company retained certain liabilities, including those arising from the legal proceedings with Insignia and Valassis described below. Insignia Systems, Inc. In July 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 Services L.L.C. (“NAM In-Store”) and News Corporation (together, the “NAM Parties”) alleging violations of federal and state antitrust laws and common law business torts. The complaint sought treble damages, injunctive relief and attorneys’ fees and costs. In July 2022, the parties agreed to settle the litigation and Insignia’s claims were dismissed with prejudice. Valassis Communications, Inc. In November 2013, Valassis filed a complaint in the U.S. District Court for the Eastern District of Michigan against the NAM Parties and News America Incorporated, which was subsequently transferred to the U.S. District Court for the Southern District of New York (the “N.Y. District Court”). The complaint alleged violations of federal and state antitrust laws and common law business torts and sought treble damages, injunctive relief and attorneys’ fees and costs. The trial began on June 29, 2021, and in July 2021, the parties agreed to settle the litigation and Valassis’s claims were dismissed with prejudice. HarperCollins Beginning in February 2021, a number of purported class action complaints have been filed in the N.Y. District Court against Amazon.com, Inc. (“Amazon”) and certain publishers, including the Company’s subsidiary, HarperCollins Publishers, L.L.C. (“HarperCollins” and together with the other publishers, the “Publishers”), alleging violations of antitrust and competition laws. The complaints seek treble damages, injunctive relief and attorneys’ fees and costs. In September 2021, Amazon and the Publishers filed motions to dismiss the complaints, which the plaintiffs have opposed. While it is not possible at this time to predict with any degree of certainty the ultimate outcome of these actions, HarperCollins believes it has been compliant with applicable laws and intends to defend itself vigorously. 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 , and at The Sun , and related matters (the “U.K. Newspaper Matters”). The Company has admitted liability in many civil cases and has settled a number of cases. The Company also settled a number of claims through a private compensation scheme which was closed to new claims after April 8, 2013. In connection with the Separation, 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 June 28, 2013 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 with the Company or 21st Century Fox. 21st Century Fox’s indemnification obligations with respect to these matters are settled on an after-tax basis. In March 2019, as part of the separation of FOX Corporation (“FOX”) from 21st Century Fox, the Company, News Corp Holdings UK & Ireland, 21st Century Fox and FOX entered into a Partial Assignment and Assumption Agreement, pursuant to which, among other things, 21st Century Fox assigned, conveyed and transferred to FOX all of its indemnification obligations with respect to the U.K. Newspaper Matters. The net expense related to the U.K. Newspaper Matters in Selling, general and administrative was $11 million, $10 million and $8 million for the fiscal years ended June 30, 2022, June 30, 2021 and June 30, 2020, respectively. As of June 30, 2022, 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 $56 million. The amount to be indemnified by FOX of approximately $63 million was recorded as a receivable in Other current assets on the Balance Sheet as of June 30, 2022. The net expense for the fiscal year ended June 30, 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 review and examination by various tax authorities. Tax authorities may not agree with the treatment of items reported in the Company’s tax returns, and therefore the outcome of tax reviews and examinations can be unpredictable. 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.

Retirement Benefit Obligations

Retirement Benefit Obligations	12 Months Ended
	Jun. 30, 2022
Retirement Benefits [Abstract]
Retirement Benefit Obligations	NOTE 17. RETIREMENT BENEFIT OBLIGATIONS The Company’s employees participate in various defined benefit pension and postretirement plans sponsored by the Company and its subsidiaries. Plans in the U.S., U.K., Australia, and other foreign plans are accounted for as defined benefit pension plans. Accordingly, the funded and unfunded position of each plan is recorded in the Balance Sheets. Actuarial gains and losses that have not yet been recognized through net income are recorded in Accumulated other comprehensive loss, net of taxes, until they are amortized as a component of net periodic benefit cost. The determination of benefit obligations and the recognition of expenses related to the plans are dependent on various assumptions. The major assumptions primarily relate to discount rates, expected long-term rates of return on plan assets and mortality rates. Management develops each assumption using relevant company experience in conjunction with market-related data for each individual country in which such plans exist. The funded status of the plans can change from year to year, but the assets of the funded plans have been sufficient to pay all benefits that came due in each of fiscal 2022, 2021 and 2020. Summary of Funded Status The Company uses a June 30 measurement date for all pension and postretirement benefit plans. The combined domestic and foreign pension and postretirement benefit plans resulted in a net pension and postretirement benefits liability of $32 million and $102 million at June 30, 2022 and 2021, respectively. The Company recognized these amounts in the Balance Sheets at June 30, 2022 and 2021 as follows: Pension Benefits Domestic Foreign Postretirement Total 2022 2021 2022 2021 2022 2021 2022 2021 (in millions) Other non-current assets $ — $ — $ 133 $ 120 $ — $ — $ 133 $ 120 Other current liabilities — (1) (2) (2) (8) (8) (10) (11) Retirement benefit obligations (40) (53) (55) (80) (60) (78) (155) (211) Net amount recognized $ (40) $ (54) $ 76 $ 38 $ (68) $ (86) $ (32) $ (102) The following table sets forth the change in the projected benefit obligation, change in the fair value of the Company’s plan assets and funded status: Pension Benefits Domestic Foreign Postretirement Total As of June 30, 2022 2021 2022 2021 2022 2021 2022 2021 (in millions) Projected benefit obligation, beginning of the year $ 339 $ 353 $ 1,124 $ 1,051 $ 86 $ 109 $ 1,549 $ 1,513 Service cost — — 1 2 — — 1 2 Interest cost 7 7 17 16 1 2 25 25 Benefits paid (18) (18) (43) (45) (7) (8) (68) (71) Settlements (a) (12) (12) (12) (10) — — (24) (22) Actuarial (gain) loss (b) (56) 9 (216) (18) (11) (1) (283) (10) Foreign exchange rate changes — — (116) 128 (1) 1 (117) 129 Amendments, transfers and other — — — — — (17) — (17) Projected benefit obligation, end of the year 260 339 755 1,124 68 86 1,083 1,549 Change in the fair value of plan assets for the Company’s benefit plans: Fair value of plan assets, beginning of the year 285 258 1,162 1,061 — — 1,447 1,319 Actual return on plan assets (49) 36 (166) 12 — — (215) 48 Employer contributions 14 21 15 14 — — 29 35 Benefits paid (18) (18) (43) (45) — — (61) (63) Settlements (a) (12) (12) (12) (10) — — (24) (22) Foreign exchange rate changes — — (125) 130 — — (125) 130 Fair value of plan assets, end of the year 220 285 831 1,162 — — 1,051 1,447 Funded status $ (40) $ (54) $ 76 $ 38 $ (68) $ (86) $ (32) $ (102) ________________________ (a) Amounts related to payments made to former employees of the Company in full settlement of their pension benefits. (b) Actuarial gains for fiscal 2022 related to domestic and international pension plans and for fiscal 2021 related to international pension plans primarily relate to the increase in discount rates used in measuring plan obligations as of June 30, 2022 and 2021, respectively. Actuarial losses for fiscal 2021 related to domestic pension plans primarily relate to the decrease in discount rates used in measuring plan obligations as of June 30, 2021. Amounts recognized in Accumulated other comprehensive loss consist of: Pension Benefits Domestic Foreign Postretirement Total As of June 30, 2022 2021 2022 2021 2022 2021 2022 2021 (in millions) Actuarial losses (gains) $ 126 $ 130 $ 325 $ 403 $ (5) $ 6 $ 446 $ 539 Prior service cost (benefit) — — 7 9 (32) (36) (25) (27) Net amounts recognized $ 126 $ 130 $ 332 $ 412 $ (37) $ (30) $ 421 $ 512 Accumulated pension benefit obligations as of June 30, 2022 and 2021 were $1,011 million and $1,457 million, respectively. Below is information about funded and unfunded pension plans: Domestic Pension Benefits Funded Plans Unfunded Plans Total As of June 30, 2022 2021 2022 2021 2022 2021 (in millions) Projected benefit obligation $ 253 $ 330 $ 7 $ 9 $ 260 $ 339 Accumulated benefit obligation 253 330 7 9 260 339 Fair value of plan assets 220 285 — — 220 285 Foreign Pension Benefits Funded Plans Unfunded Plans Total As of June 30, 2022 2021 2022 2021 2022 2021 (in millions) Projected benefit obligation $ 701 $ 1,043 $ 54 $ 81 $ 755 $ 1,124 Accumulated benefit obligation 697 1,037 54 81 751 1,118 Fair value of plan assets 831 1,162 — — 831 1,162 The accumulated benefit obligation exceeds the fair value of plan assets for all domestic pension plans. Below is information about foreign pension plans in which the accumulated benefit obligation exceeds the fair value of the plan assets: Foreign Pension Benefits Funded Plans Unfunded Plans Total As of June 30, 2022 2021 2022 2021 2022 2021 (in millions) Projected benefit obligation $ 49 $ 59 $ 54 $ 81 $ 103 $ 140 Accumulated benefit obligation 49 59 54 81 103 140 Fair value of plan assets 46 58 — — 46 58 Summary of Net Periodic Benefit Costs The Company recorded nil, $(1) million and $7 million in net periodic benefit (income) costs in the Statements of Operations for the fiscal years ended June 30, 2022, 2021 and 2020, respectively. The Company utilizes the full yield-curve approach to estimate the service and interest cost components of net periodic benefit (income) costs for its pension and other postretirement benefit plans. The amortization of amounts related to unrecognized prior service costs (credits), deferred losses and settlements, curtailments and other were reclassified out of Other comprehensive income as a component of net periodic benefit costs. The components of net periodic benefit (income) costs were as follows: Pension Benefits Domestic Foreign Postretirement Benefits Total For the fiscal years ended June 30, 2022 2021 2020 2022 2021 2020 2022 2021 2020 2022 2021 2020 (in millions) Service cost benefits earned during the period $ — $ — $ — $ 1 $ 2 $ 2 $ — $ — $ — $ 1 $ 2 $ 2 Interest costs on projected benefit obligations 7 7 11 17 16 20 1 2 3 25 25 34 Expected return on plan assets (15) (13) (16) (36) (37) (43) — — — (51) (50) (59) Amortization of deferred losses 5 5 5 14 15 11 — — — 19 20 16 Amortization of prior service credits — — — — — — (4) (4) (3) (4) (4) (3) Settlements, curtailments and other 8 5 12 2 1 5 — — — 10 6 17 Net periodic benefit (income) costs – Total $ 5 $ 4 $ 12 $ (2) $ (3) $ (5) $ (3) $ (2) $ — $ — $ (1) $ 7 Pension Benefits Domestic Foreign Postretirement Benefits For the fiscal years ended June 30, 2022 2021 2020 2022 2021 2020 2022 2021 2020 Additional information: Weighted-average assumptions used to determine benefit obligations Discount rate 4.9 % 2.9 % 2.9 % 3.9 % 1.9 % 1.7 % 4.6 % 2.4 % 2.5 % Rate of increase in future compensation N/A N/A N/A 3.9 % 3.6 % 3.1 % N/A N/A N/A Weighted-average assumptions used to determine net periodic benefit cost Discount rate for PBO 2.9 % 2.9 % 3.6 % 1.9 % 1.7 % 2.3 % 2.4 % 2.5 % 3.3 % Discount rate for Service Cost 3.3 % 3.4 % 3.9 % 1.8 % 1.8 % 2.5 % 2.8 % 2.9 % 3.6 % Discount rate for Interest on PBO 2.2 % 2.2 % 3.2 % 1.6 % 1.5 % 2.0 % 1.7 % 1.8 % 2.9 % Expected return on plan assets 5.8 % 5.5 % 6.0 % 3.3 % 3.3 % 4.2 % N/A N/A N/A Rate of increase in future compensation N/A N/A N/A 3.6 % 3.1 % 3.4 % N/A N/A N/A ________________________ N/A—not applicable The following assumed health care cost trend rates as of June 30 were also used in accounting for postretirement benefits: Postretirement benefits Fiscal 2022 Fiscal 2021 Health care cost trend rate 6.4 % 6.6 % Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) 4.5 % 4.7 % Year that the rate reaches the ultimate trend rate 2030 2030 The following table sets forth the estimated benefit payments for the next five fiscal years, and in aggregate for the five fiscal years thereafter. The expected benefits are estimated based on the same assumptions used to measure the Company’s benefit obligation at the end of the fiscal year and include benefits attributable to estimated future employee service: Expected Benefit Payments Pension Benefits Postretirement Total Domestic Foreign (in millions) Fiscal year: 2023 $ 21 $ 50 $ 8 $ 79 2024 20 47 7 74 2025 19 46 7 72 2026 19 44 6 69 2027 20 44 6 70 2028-2032 92 220 25 337 Plan Assets The Company applies the provisions of ASC 715, which requires disclosures including: (i) investment policies and strategies; (ii) the major categories of plan assets; (iii) the inputs and valuation techniques used to measure plan assets; (iv) the effect of fair value measurements using significant unobservable inputs on changes in plan assets for the period; and (v) significant concentrations of risk within plan assets. The table below presents the Company’s plan assets by level within the fair value hierarchy, as described in Note 2—Summary of Significant Accounting Policies, as of June 30, 2022 and 2021: Fiscal 2022 Fiscal 2021 Fair Value Measurements at Fair Value Measurements at Total Level 1 Level 2 Level 3 NAV Total Level 1 Level 2 Level 3 NAV (in millions) Assets Pooled funds: (a) Domestic equity funds $ 37 $ — $ — $ — $ 37 $ 61 $ — $ — $ — $ 61 International equity funds 112 — — — 112 199 — — — 199 Domestic fixed income funds 106 — — — 106 144 — — — 144 International fixed income funds 666 — — — 666 882 — — — 882 Balanced funds 46 — 46 — — 67 — 67 — — Other 84 53 — 7 24 94 53 — 10 31 Total $ 1,051 $ 53 $ 46 $ 7 $ 945 $ 1,447 $ 53 $ 67 $ 10 $ 1,317 ________________________ (a) Open-ended pooled funds that are registered and/or available to the general public are valued at the daily published net asset value (“NAV”). Other pooled funds are valued at the NAV provided by the fund issuer. The table below sets forth a summary of changes in the fair value of investments reflected as Level 3 assets as of June 30, 2022 and 2021: Level 3 (in millions) Balance, June 30, 2020 $ 9 Actual return on plan assets: Relating to assets still held at end of period 1 Relating to assets sold during the period — Purchases, sales, settlements and issuances — Transfers in and out of Level 3 — Balance, June 30, 2021 $ 10 Actual return on plan assets: Relating to assets still held at end of period (2) Relating to assets sold during the period — Purchases, sales, settlements and issuances (1) Transfers in and out of Level 3 — Balance, June 30, 2022 $ 7 The Company’s investment strategy for its pension plans is to maximize the long-term rate of return on plan assets within an acceptable level of risk in order to minimize the cost of providing pension benefits while maintaining adequate funding levels. The Company’s practice is to conduct a periodic strategic review of its asset allocation. The Company’s current broad strategic targets are to have a pension asset portfolio comprised of 17% equity securities, 76% fixed income securities and 7% in cash and other investments. In developing the expected long-term rate of return, the Company considered the pension asset portfolio’s past average rate of returns and future return expectations of the various asset classes. A portion of the other allocation is reserved in cash to provide for expected benefits to be paid in the short term. The Company’s equity portfolios are managed in such a way as to achieve optimal diversity. The Company’s fixed income portfolio is investment grade in the aggregate. The Company does not manage any assets internally. The Company’s benefit plan weighted-average asset allocations, by asset category, are as follows: Pension Assets As of June 30, 2022 2021 Asset Category: Equity securities 15 % 19 % Debt securities 75 % 73 % Cash and other 10 % 8 % Total 100 % 100 % Required pension plan contributions for the next fiscal year are expected to be approximately $12 million; however, actual contributions may be affected by pension asset and liability valuation changes during the year. The Company will continue to make voluntary contributions as necessary to improve funded status.

Other Postretirement Benefits

Other Postretirement Benefits	12 Months Ended
	Jun. 30, 2022
Retirement Benefits [Abstract]
Other Postretirement Benefits	NOTE 18. OTHER POSTRETIREMENT BENEFITS Defined Contribution Plans The Company has defined contribution plans for the benefit of substantially all employees meeting certain eligibility requirements. Employer contributions to such plans were $147 million, $142 million and $154 million for the fiscal years ended June 30, 2022, 2021 and 2020, respectively. Deferred Compensation Plan The Company has non-qualified deferred compensation plans for the benefit of certain management employees. The investment funds offered to the participants generally correspond to the funds offered in the Company’s 401(k) plan, and the account balance fluctuates with the investment returns on those funds. The unfunded obligations of the plans included in Other liabilities as of June 30, 2022 and 2021 were $48 million and $51 million, respectively, and the majority of these plans are closed to new employees.

Income Taxes

Income Taxes	12 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 19. INCOME TAXES Income taxes are recognized for the amount of taxes payable for the current year and for the impact of deferred tax assets and liabilities, which represent future tax consequences of events that have been recognized differently in the financial statements than for tax purposes. Deferred tax assets and liabilities are established using the enacted statutory tax rates and are adjusted for any changes in such rates in the period of change. Income (loss) before income tax expense was attributable to the following jurisdictions: For the fiscal years ended June 30, 2022 2021 2020 (in millions) U.S. $ 194 $ 266 $ (310) Foreign 618 184 (1,214) Income (loss) before income tax expense $ 812 $ 450 $ (1,524) The significant components of the Company’s income tax expense were as follows: For the fiscal years ended June 30, 2022 2021 2020 (in millions) Current: U.S. Federal $ — $ 5 $ (4) State & Local 9 9 3 Foreign 160 133 102 Total current tax 169 147 101 Deferred: U.S. Federal 54 (30) (45) State & Local 4 (1) (4) Foreign (175) (55) (31) Total deferred tax (117) (86) (80) Total income tax expense $ 52 $ 61 $ 21 The reconciliation between the Company’s actual effective tax rate and the statutory U.S. Federal income tax rate was as follows: For the fiscal years ended June 30, 2022 2021 2020 U.S. federal income tax rate 21 % 21 % 21 % State and local taxes, net 1 2 1 Effect of foreign operations (a) 7 12 (2) Change in valuation allowance (b) (19) (16) — Non-deductible goodwill and asset impairments (c) — 1 (22) Non-deductible compensation and benefits — 4 — Remeasurement of deferred tax assets (d) (2) (7) — R&D tax credits (1) (2) 1 Impact of dispositions (2) — — Other 1 (1) — Effective tax rate (e) 6 % 14 % (1) % ________________________ (a) The Company’s effective tax rate is impacted by the geographic mix of its pre-tax income. The Company’s foreign operations are located primarily in Australia and the United Kingdom (“U.K.”). Australia has a higher income tax rate than the U.S. and the U.K. has a lower tax rate than the U.S. (b) For the fiscal year ended June 30, 2022, the Company released valuation allowances of $156 million, including $149 million related to certain Foreign deferred tax assets. For the fiscal year ended June 30, 2021, the Company released $75 million of valuation allowances, including $64 million related to certain U.S. deferred tax assets. (c) For the fiscal year ended June 30, 2020, the Company recorded non-cash charges of $1,690 million related to the impairment of goodwill and indefinite-lived intangible assets, which reduced the Company’s tax expense by $262 million. These write-downs have an impact on our effective tax rate to the extent a lower tax benefit is recorded. (d) For the fiscal year ended June 30, 2022, the Company recorded a benefit of $18 million related to the remeasurement of its U.K. deferred tax assets. For the fiscal year ended June 30, 2021, the Company recorded a benefit of $34 million related to the remeasurement of its U.K. deferred tax assets which includes the enacted corporate income tax increase resulting from the Finance Act 2021. (e) For the fiscal years ended June 30, 2022 and 2021, the effective tax rates of 6% and 14%, respectively, represent income tax expense with regard to consolidated pre-tax book income. For the fiscal year ended June 30, 2020, the effective tax rate of (1)% represents income tax expense with regard to consolidated pre-tax book loss. The Company recognized deferred income taxes in the Balance Sheets as follows: As of June 30, 2022 2021 (in millions) Deferred income tax assets $ 422 $ 378 Deferred income tax liabilities (198) (260) Net deferred tax assets $ 224 $ 118 The significant components of the Company’s deferred tax assets and liabilities were as follows: As of June 30, 2022 2021 (in millions) Deferred tax assets: Accrued liabilities $ 173 $ 169 Capital loss carryforwards 1,135 1,126 Retirement benefit obligations 24 34 Net operating loss carryforwards 408 484 Business tax credits 122 115 Operating lease liabilities 278 365 Other 151 153 Total deferred tax assets 2,291 2,446 Deferred tax liabilities: Asset basis difference and amortization (163) (161) Operating lease right-of-use asset (257) (339) Other (59) (63) Total deferred tax liabilities (479) (563) Net deferred tax asset before valuation allowance 1,812 1,883 Less: valuation allowance (See Note 22—Valuation and Qualifying Accounts) (1,588) (1,765) Net deferred tax assets $ 224 $ 118 As of June 30, 2022, the Company had income tax net operating loss (“NOL”) carryforwards (gross, net of uncertain tax benefits) in various jurisdictions as follows: Jurisdiction Expiration Amount U.S. Federal 2023 to 2037 $ 149 U.S. Federal Indefinite 435 U.S. States Various 664 Australia Indefinite 365 U.K. Indefinite 12 Other Foreign Various 590 Utilization of the NOLs is dependent on generating sufficient taxable income from our operations in each of the respective jurisdictions to which the NOLs relate, while taking into account tax filing groups and limitations and/or restrictions on our ability to use them. Certain of our U.S. federal NOLs were acquired as part of the acquisitions of Move and Harlequin and are subject to limitations as promulgated under Section 382 of the Internal Revenue Code of 1986, as amended (the “Code”). Section 382 of the Code limits the amount of NOLs that we can use on an annual basis to offset consolidated U.S. taxable income. The NOLs are also subject to review by relevant tax authorities in the jurisdictions to which they relate. The Company recorded a deferred tax asset of $408 million and $484 million associated with its NOLs (net of approximately $68 million and $62 million, respectively, of unrecognized tax benefits recorded against deferred tax assets) as of June 30, 2022 and 2021, respectively. Significant judgment is applied in assessing our ability to realize our NOLs. Management assesses the available positive and negative evidence to estimate if sufficient future taxable income will be generated to utilize existing deferred tax assets within the applicable expiration period. On the basis of this evaluation, valuation allowances of $122 million and $206 million have been established to reduce the deferred tax asset associated with the Company’s NOLs to an amount that will more likely than not be realized as of June 30, 2022 and 2021, respectively. For the fiscal year ended June 30, 2022, the Company released valuation allowances related to Australian NOLs of $31 million that are more likely than not to be realized. For the fiscal year ended June 30, 2021, the Company released valuation allowances related to U.S. Federal NOLs of $64 million that are more likely than not to be realized. As of June 30, 2022, the Company had approximately $2.5 billion and $1.5 billion of capital loss carryforwards in Australia and the U.K., respectively. Australia and U.K. capital loss carryforwards may be carried forward indefinitely. The capital loss carryforwards are also subject to review by relevant tax authorities in the jurisdictions to which they relate. Realization of our capital losses is dependent on generating capital gain taxable income and satisfying certain continuity of business requirements. The Company recorded a deferred tax asset of $1.1 billion as of June 30, 2022 and 2021 for these capital loss carryforwards. However, it is more likely than not that the Company will not generate capital gain income in the normal course of business in these jurisdictions. Accordingly, valuation allowances of $1.1 billion have been established to reduce the capital loss carryforward deferred tax asset to an amount that will more likely than not be realized as of June 30, 2022 and 2021. For the fiscal year ended June 30, 2022, the Company released valuation allowances related to U.S. capital losses of $3 million as the Company concluded that these deferred tax assets will more likely than not be realized and recorded valuation allowances related to U.K. capital losses of $4 million. For the fiscal year ended June 30, 2021, the Company released valuation allowances related to U.K. capital losses of $6 million as the Company concluded that these deferred tax assets will more likely than not be realized. As of June 30, 2022, the Company had approximately $81 million of U.S. federal tax credit carryforwards which includes $35 million of foreign tax credits and $46 million of general business credits, which begin to expire in 2026 and 2036, respectively. As of June 30, 2022, the Company had approximately $29 million of non-U.S. tax credit carryforwards which expire in various amounts beginning in 2026 and $11 million of state tax credit carryforwards (net of U.S. federal benefit), which expire in various amounts beginning in 2023. A valuation allowance of $29 million has been established to reduce the deferred tax asset associated with the Company’s U.S. federal tax credits, non-U.S. tax credits and state tax credit carryforwards to an amount that will more likely than not be realized as of June 30, 2022. For the fiscal year ended June 30, 2022, the Company released valuation allowances of $1 million related to U.S. foreign tax credits and $26 million related to non-US tax credits that are more likely than not to be realized. Uncertain Tax Positions The following table sets forth the change in the Company’s unrecognized tax benefits, excluding interest and penalties: For the fiscal years ended June 30, 2022 2021 2020 (in millions) Balance, beginning of period $ 69 $ 63 $ 58 Additions for prior year tax positions — — 4 Additions for current year tax positions 28 4 8 Reduction for prior year tax positions (1) (2) (1) Lapse of the statute of limitations (3) (3) (3) Settlement—tax attributes — — (2) Impact of currency translations (7) 7 (1) Balance, end of period $ 86 $ 69 $ 63 The Company recognizes interest and penalty charges related to unrecognized tax benefits as income tax expense, which is consistent with the recognition in prior reporting periods. The Company recognized a benefit related to interest and penalties of $1 million, $1 million and nil for the fiscal years ended June 30, 2022, 2021 and 2020, respectively. The Company recorded liabilities for accrued interest and penalties of approximately $5 million, $4 million and $3 million as of June 30, 2022, 2021 and 2020, respectively. The Company’s tax returns are subject to on-going review and examination by various tax authorities. Tax authorities may not agree with the treatment of items reported in our tax returns, and therefore the outcome of tax reviews and examinations can be unpredictable. The Company is currently undergoing tax examinations in the U.S., various states and foreign jurisdictions. The Internal Revenue Service has commenced an audit for the fiscal year ended June 30, 2018 which is currently ongoing. The Company effectively settled its Internal Revenue Service audit related to the fiscal year ended June 30, 2014 in February 2020 with no material changes. 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, the Company may need to accrue additional income tax expense and our liability may need to be adjusted as new information becomes known and as these tax examinations continue to progress, or as settlements or litigations occur. The following is a summary of major tax jurisdictions for which tax authorities may assert additional taxes based upon tax years currently under audit and subsequent years that could be audited by the respective taxing authorities. Jurisdiction Fiscal Years Open to Examination U.S. federal 2018-2021 U.S. states Various Australia 2018-2021 U.K. 2011-2021 It is reasonably possible that uncertain tax positions may increase or decrease in the next fiscal year, however, actual developments in this area could differ from those currently expected. As of June 30, 2022, approximately $63 million would affect the Company’s effective income tax rate, if and when recognized in future fiscal years. It is reasonably possible, the amount of uncertain tax liabilities which may be resolved within the next fiscal year is between the range of approximately nil and $40 million, a portion of which will affect our effective income tax rate, primarily as a result of the settlement of tax examinations and the lapsing of statutes of limitations. Other Prior to the enactment of the Tax Act, the Company’s undistributed foreign earnings were considered permanently reinvested and as such, United States federal and state income taxes were not previously recorded on these earnings. As a result of the Tax Act, substantially all of the Company’s earnings in foreign subsidiaries generated prior to the enactment of the Tax Act were deemed to have been repatriated and taxed accordingly. As of June 30, 2022, the Company has approximately $900 million of undistributed foreign earnings that it intends to reinvest permanently. It is not practicable to estimate the amount of tax that might be payable if these earnings were repatriated. The Company may repatriate future earnings of certain foreign subsidiaries in which case the Company may be required to accrue and pay additional taxes, including any applicable foreign withholding taxes and income taxes. During the fiscal years ended June 30, 2022, 2021 and 2020, the Company paid gross income taxes of $180 million, $176 million and $99 million, respectively, and received income tax refunds of $3 million, $14 million and $25 million, respectively.

Segment Information

Segment Information	12 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Segment Information	NOTE 20. SEGMENT INFORMATION The Company manages and reports its businesses in the following six segments: • Digital Real Estate Services —The Digital Real Estate Services segment consists of the Company’s 61.4% interest in REA Group and 80% interest in Move. The remaining 20% interest in Move is held by REA Group. REA Group is a market-leading digital media business specializing in property and is listed on the Australian Securities Exchange (“ASX”) (ASX: REA). REA Group advertises property and property-related services on its websites and mobile apps, including Australia’s leading residential, commercial and share property websites, realestate.com.au, realcommercial.com.au and Flatmates.com.au, property.com.au and property portals in India. In addition, REA Group provides property-related data to the financial sector and financial services through an end-to-end digital property search and financing experience and a mortgage broking offering. Move is a leading provider of digital real estate services in the U.S. and primarily operates Realtor.com ® , a premier real estate information, advertising and services platform. Move offers real estate advertising solutions to agents and brokers, including its Connections SM Plus, Market VIP SM and Advantage SM Pro products as well as its referral-based service, ReadyConnect Concierge SM . Move also offers online tools and services to do-it-yourself landlords and tenants. • Subscription Video Services —The Company’s Subscription Video Services segment provides sports, entertainment and news services to pay-TV and streaming subscribers and other commercial licensees, primarily via cable, satellite and internet distribution, and consists of (i) the Company’s 65% interest in the Foxtel Group (with the remaining 35% interest held by Telstra, an ASX-listed telecommunications company) and (ii) Australian News Channel (“ANC”). The Foxtel Group is the largest Australian-based subscription television provider. Its Foxtel pay-TV service provides approximately 200 live channels and video on demand covering sports, general entertainment, movies, documentaries, music, children’s programming and news. Foxtel and the Group’s Kayo Sports streaming service offer the leading sports programming content in Australia, with broadcast rights to live sporting events including: National Rugby League, Australian Football League, Cricket Australia and various motorsports programming. The Foxtel Group also operates BINGE , its entertainment streaming service, Foxtel Now, a streaming service that provides access across Foxtel’s live and on-demand content and Flash , its news aggregation streaming service. ANC operates the SKY NEWS network, Australia’s 24-hour multi-channel, multi-platform news service. ANC channels are distributed throughout Australia and New Zealand and available on Foxtel and Sky Network Television NZ. ANC also owns and operates the international Australia Channel IPTV service and offers content across a variety of digital media platforms, including web, mobile and third party providers. • Dow Jones —The Dow Jones segment consists of Dow Jones, a global provider of news and business information, which distributes its content and data through a variety of media channels including newspapers, newswires, websites, mobile apps, newsletters, magazines, proprietary databases, live journalism, video and podcasts. The Dow Jones segment’s products, which target individual consumer and enterprise customers, include The Wall Street Journal , Barron’s , MarketWatch, Investor’s Business Daily, Factiva, Dow Jones Risk & Compliance, Dow Jones Newswires and OPIS. • Book Publishing —The Book Publishing segment consists of HarperCollins, the second largest consumer book publisher in the world, with operations in 17 countries and particular strengths in general fiction, nonfiction, children’s and religious publishing. HarperCollins owns more than 120 branded publishing imprints, including Harper, William Morrow, Mariner, HarperCollins Children’s Books, Avon, Harlequin and Christian publishers Zondervan and Thomas Nelson, and publishes works by well-known authors such as Harper Lee, George Orwell, Agatha Christie and Zora Neale Hurston, as well as global author brands including J.R.R. Tolkien, C.S. Lewis, Daniel Silva, Karin Slaughter and Dr. Martin Luther King, Jr. It is also home to many beloved children’s books and authors and a significant Christian publishing business. • News Media —The News Media segment consists primarily of News Corp Australia, News UK and the New York Post and includes, among other publications, The Australian, The Daily Telegraph, Herald Sun, The Courier Mail and The Advertiser in Australia and The Times, The Sunday Times, The Sun and The Sun on Sunday in the U.K. This segment also includes Wireless Group, operator of talkSPORT, the leading sports radio network in the U.K., the Company’s recently launched TalkTV and Storyful, a social media content agency. The segment included News America Marketing until the completion of the sale of the business on May 5, 2020. • Other —The Other segment consists primarily of general corporate overhead expenses, costs related to the U.K. Newspaper Matters and expenses associated with the Company’s cost reduction initiatives. 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). For the fiscal years ended June 30, 2022 2021 2020 (in millions) Revenues: Digital Real Estate Services $ 1,741 $ 1,393 $ 1,065 Subscription Video Services 2,026 2,072 1,884 Dow Jones 2,004 1,702 1,590 Book Publishing 2,191 1,985 1,666 News Media 2,423 2,205 2,801 Other — 1 2 Total Revenues $ 10,385 $ 9,358 $ 9,008 Segment EBITDA: Digital Real Estate Services $ 574 $ 514 $ 345 Subscription Video Services 360 359 323 Dow Jones 433 332 236 Book Publishing 306 303 214 News Media 217 52 53 Other (221) (287) (158) Depreciation and amortization (688) (680) (644) Impairment and restructuring charges (109) (168) (1,830) Equity losses of affiliates (13) (65) (47) Interest expense, net (99) (53) (25) Other, net 52 143 9 Income (loss) before income tax expense 812 450 (1,524) Income tax expense (52) (61) (21) Net income (loss) $ 760 $ 389 $ (1,545) For the fiscal years ended June 30, 2022 2021 2020 (in millions) Depreciation and amortization: Digital Real Estate Services $ 112 $ 101 $ 93 Subscription Video Services 321 332 283 Dow Jones 119 119 113 Book Publishing 49 36 33 News Media 79 84 115 Other 8 8 7 Total Depreciation and amortization $ 688 $ 680 $ 644 For the fiscal years ended June 30, 2022 2021 2020 (in millions) Capital expenditures: Digital Real Estate Services $ 109 $ 78 $ 80 Subscription Video Services 193 142 199 Dow Jones 77 62 59 Book Publishing 37 16 12 News Media 81 84 76 Other 2 8 12 Total Capital expenditures $ 499 $ 390 $ 438 As of June 30, 2022 2021 (in millions) Total assets: Digital Real Estate Services $ 2,989 $ 3,146 Subscription Video Services 3,082 3,515 Dow Jones 4,368 2,798 Book Publishing 2,651 2,713 News Media 2,115 2,209 Other (a) 1,528 2,039 Investments 488 351 Total assets $ 17,221 $ 16,771 ________________________ (a) The Other segment primarily includes Cash and cash equivalents. As of June 30, 2022 2021 (in millions) Goodwill and intangible assets, net: Digital Real Estate Services $ 1,823 $ 1,871 Subscription Video Services 1,394 1,612 Dow Jones 3,346 1,995 Book Publishing 973 1,046 News Media 304 308 Other — — Total Goodwill and intangible assets, net $ 7,840 $ 6,832 Geographic Segments For the fiscal years ended June 30, 2022 2021 2020 (in millions) Revenues: (a) U.S. and Canada (b) $ 4,097 $ 3,550 $ 3,763 Europe (c) 1,808 1,672 1,502 Australasia and Other (d) 4,480 4,136 3,743 Total Revenues $ 10,385 $ 9,358 $ 9,008 ________________________ (a) Revenues are attributed to region based on location of customer. (b) Revenues include approximately $4.0 billion for fiscal 2022, $3.5 billion for fiscal 2021 and $3.7 billion for fiscal 2020 from customers in the U.S. (c) Revenues include approximately $1.4 billion for fiscal 2022, $1.3 billion for fiscal 2021 and $1.2 billion for fiscal 2020 from customers in the U.K. (d) Revenues include approximately $4.2 billion for fiscal 2022, $3.9 billion for fiscal 2021 and $3.5 billion for fiscal 2020 from customers in Australia. As of June 30, 2022 2021 (in millions) Long-lived assets: (a) U.S. and Canada $ 1,513 $ 1,429 Europe 774 887 Australasia and Other 2,091 2,438 Total long-lived assets $ 4,378 $ 4,754 ________________________ (a) Reflects total assets less current assets, goodwill, intangible assets, investments and deferred income tax assets. There is no material reliance on any single customer. Revenues are attributed to countries based on location of customers. Australasia comprises Australia, Asia, Papua New Guinea and New Zealand.

Additional Financial Informatio

Additional Financial Information	12 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Additional Financial Information	NOTE 21. ADDITIONAL FINANCIAL INFORMATION Other Non-Current Assets The following table sets forth the components of Other non-current assets included in the Balance Sheets: As of June 30, 2022 2021 (in millions) Royalty advances to authors $ 403 $ 406 Retirement benefit assets 133 120 Inventory (a) 268 279 News America Marketing deferred consideration 142 128 Other 438 514 Total Other non-current assets $ 1,384 $ 1,447 ________________________ (a) Primarily consists of the non-current portion of programming rights. Other Current Liabilities The following table sets forth the components of Other current liabilities: As of June 30, 2022 2021 (in millions) Royalties and commissions payable $ 215 $ 206 Current operating lease liabilities 139 143 Allowance for sales returns 173 190 Current tax payable 18 30 Other 430 504 Total Other current liabilities $ 975 $ 1,073 Other, net The following table sets forth the components of Other, net included in the Statements of Operations: For the fiscal years ended June 30, 2022 2021 2020 (in millions) Remeasurement of equity securities $ (59) $ 81 $ (21) Dividends received from equity security investments 20 9 3 Gain on sale of businesses (a) 98 18 20 Gain on remeasurement of previously-held interest (b) 3 7 — Gain on dilution of PropertyGuru investment (c) 15 — — Other (25) 28 7 Total Other, net $ 52 $ 143 $ 9 ________________________ (a) During the fiscal year ended June 30, 2022, REA Group acquired an 18% interest in PropertyGuru in exchange for all shares of REA Group’s entities in Malaysia and Thailand. The Company recognized a gain of $107 million on the disposition of such entities. During the fiscal year ended June 30, 2021, Move sold the assets associated with its Top Producer professional software and service product and recognized an $18 million gain on the sale. During the fiscal year ended June 30, 2020, REA Group contributed its businesses located in Singapore and Indonesia to a 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. (b) Relates to the acquisition of REA India in the fiscal year ended June 30, 2021. (c) During the fiscal year ended June 30, 2022, PropertyGuru completed its merger with Bridgetown 2 Holdings Limited. REA Group recognized a gain of approximately $15 million resulting from its ownership dilution in the transaction. At June 30, 2022, REA Group held an ownership interest of 17.5% in PropertyGuru. Supplemental Cash Flow Information The following table sets forth the Company’s gross cash paid for taxes and interest: For the fiscal years ended June 30, 2022 2021 2020 (in millions) Cash paid for interest $ 96 $ 55 $ 61 Cash paid for taxes 180 176 99 Accumulated Other Comprehensive Loss The components of Accumulated other comprehensive loss were as follows: For the fiscal years ended June 30, 2022 2021 2020 (in millions) Accumulated other comprehensive loss, net of tax: Cash flow hedge adjustments: Balance, beginning of year — 2 6 Fiscal year activity (a) 21 (2) (4) Balance, end of year 21 — 2 Benefit Plan Adjustments: Balance, beginning of year (392) (394) (352) Fiscal year activity (b) 71 2 (42) Balance, end of year (321) (392) (394) Foreign currency translation adjustments: Balance, beginning of year (549) (939) (780) Fiscal year activity (421) 390 (159) Balance, end of year (970) (549) (939) Total accumulated other comprehensive loss, net of tax: Balance, beginning of year (941) (1,331) (1,126) Fiscal year activity, net of income taxes (c) (329) 390 (205) Balance, end of year $ (1,270) $ (941) $ (1,331) ________________________ (a) Net of income tax expense (benefit) of $7 million, nil and $(3) million for the fiscal years ended June 30, 2022, 2021 and 2020 respectively. (b) Net of income tax expense (benefit) of $19 million, $(1) million and $(11) million for the fiscal years ended June 30, 2022, 2021 and 2020, respectively. (c) Excludes $(97) million, $78 million and $(43) million relating to noncontrolling interests for the fiscal years ended June 30, 2022, 2021 and 2020, respectively.

Valuation and Qualifying Accoun

Valuation and Qualifying Accounts	12 Months Ended
	Jun. 30, 2022
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Valuation and Qualifying Accounts	NOTE 22. VALUATION AND QUALIFYING ACCOUNTS Balance at beginning of year Additions Acquisitions and disposals Utilization Foreign exchange Balance at end of year (in millions) Fiscal 2022 Allowances for doubtful accounts $ (71) $ (6) $ — $ 7 $ 3 $ (67) Allowances for sales returns (190) (554) (1) 564 8 (173) Deferred tax valuation allowance (1,765) (237) (8) 232 190 (1,588) Fiscal 2021 Allowances for doubtful accounts $ (73) $ (5) $ (3) $ 15 $ (5) $ (71) Allowances for sales returns (174) (514) (8) 511 (5) (190) Deferred tax valuation allowance (1,546) (180) 10 100 (149) (1,765) Fiscal 2020 Allowances for doubtful accounts $ (46) $ (34) $ (9) $ 16 $ — $ (73) Allowances for sales returns (192) (539) (1) 557 1 (174) Deferred tax valuation allowance (1,468) (104) (1) (4) 31 (1,546)

Subsequent Events

Subsequent Events	12 Months Ended
	Jun. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	NOTE 23. SUBSEQUENT EVENTS Dividend declaration In August 2022, the Company declared a semi-annual cash dividend of $0.10 per share for Class A Common Stock and Class B Common Stock. This dividend is payable on October 12, 2022 to stockholders of record as of September 14, 2022.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The accompanying 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”). The Company’s financial statements as of and for the fiscal years ended June 30, 2022, 2021 and 2020 are presented on a consolidated basis. 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 Company maintains a 52-53 week fiscal year ending on the Sunday closest to June 30 in each year. Fiscal 2022, fiscal 2021 and fiscal 2020 included 53, 52 and 52 weeks, respectively. All references to the fiscal years ended June 30, 2022, 2021 and 2020 relate to the fiscal years ended July 3, 2022, June 27, 2021 and June 28, 2020, respectively. For convenience purposes, the Company continues to date its consolidated financial statements as of June 30.
Principles of consolidation	Principles of consolidation The Consolidated Financial Statements include the accounts of all majority-owned and controlled subsidiaries. In addition, the Company evaluates its relationships with other entities to identify whether they are variable interest entities (“VIEs”) as defined by Financial Accounting Standards Board (“FASB”) ASC 810-10, “Consolidation” (“ASC 810-10”) and whether the Company is the primary beneficiary. Consolidation is required if both of these criteria are met. All significant intercompany accounts and transactions have been eliminated in consolidation, including the intercompany portion of transactions with equity method investees.
Use of estimates	Use of estimates The preparation of the Company’s Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts that are reported in the Consolidated Financial Statements and accompanying disclosures. Actual results could differ from those estimates.
Cash and cash equivalents	Cash and cash equivalents Cash and cash equivalents consist of cash on hand and other investments that are readily convertible into cash with original maturities of three months or less. The Company’s cash and cash equivalents balance as of June 30, 2022 and 2021 also includes $169 million and $128 million, respectively, which is not readily accessible by the Company as it is held by REA Group Limited (“REA Group”), a majority owned but separately listed public company. REA Group must declare a dividend in order for the Company to have access to its share of REA Group’s cash balance. The Company classifies cash as restricted when the cash is unavailable for use in its general operations. The Company had no restricted cash as of June 30, 2022 and 2021.
Concentration of credit risk	Concentration of credit risk Cash and cash equivalents are maintained with multiple financial institutions. The Company has deposits held with banks that exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed upon demand and are maintained with financial institutions of reputable credit and, therefore, bear minimal credit risk.
Receivables, net	Receivables, net Receivables are presented net of allowances. Allowance for doubtful accounts is calculated by pooling receivables with similar credit risks such as the level of delinquency, types of products or services and geographical locations and reflects the Company’s expected credit losses based on historical experience as well as current and expected economic conditions.
Inventory, net	Inventory, net Inventory primarily consists of programming rights, books and newsprint. In accordance with ASC 920, “Entertainment—Broadcasters,” programming rights and the related liabilities are recorded at the gross amount of the liabilities when the license period has begun, the cost of the program is determinable and the program is accepted and available for airing. Programming costs are amortized based on the expected pattern of consumption over the license period or expected useful life of each program. The pattern of consumption is based primarily on consumer viewership information as well as other factors. The Company regularly reviews its programming assets to ensure they continue to reflect fair value. Changes in circumstances may result in a write-down of the asset to fair value. The Company’s programming rights are substantially all monetized as a film group. The amortization expense of programming costs, which is reflected within Operating expenses in the Statements of Operations, was $281 million for the fiscal year ended June 30, 2022. Approximately $147 million, $58 million and $19 million of the unamortized programming costs as of June 30, 2022 are expected to be amortized in each of the fiscal years ending June 30, 2023, 2024 and 2025, respectively. Inventory for books and newsprint are valued at the lower of cost or net realizable value. Cost for non-programming inventory is determined by the weighted average cost method. The Company records a reserve for excess and obsolete inventory based upon a calculation using the historical usage rates, sales patterns of its products and specifically identified obsolete inventory.
Investments	Investments The Company makes investments in various businesses in the normal course of business. The Company evaluates its relationships with other entities to identify whether they are VIEs in accordance with ASC 810-10 and whether the Company is the primary beneficiary. In determining whether the Company is the primary beneficiary of a VIE, it assesses whether it has the power to direct matters that most significantly impact the activities of the VIE and has the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE. The Company would consolidate any investments in which it was determined to be the primary beneficiary of a VIE. Investments in and advances to equity investments or joint ventures in which the Company has significant influence, but is not the primary beneficiary, and has less than a controlling voting interest, are accounted for using the equity method. Significant influence is generally presumed to exist when the Company owns an interest between 20% and 50% or when the Company has the ability to exercise significant influence. Under the equity method of accounting, the Company includes its investments and amounts due to and from such investments in its Balance Sheets. The Company’s Statements of Operations include the Company’s share of the investees’ earnings (losses) and the Company’s Statements of Cash Flows include all cash received from or paid to the investee. The difference between the Company’s investment and its share of the fair value of the underlying net tangible assets of the investee upon acquisition is first allocated to either finite-lived intangibles, indefinite-lived intangibles or other assets and liabilities and the balance is attributed to goodwill. The Company follows ASC 350, “Intangibles—Goodwill and Other” (“ASC 350”), which requires that equity method finite-lived intangibles be amortized over their estimated useful life. Such amortization is reflected in Equity (losses) earnings of affiliates in the Statements of Operations. Indefinite-lived intangibles and goodwill are not amortized. Investments in which the Company is presumed not to have significant influence (generally less than a 20% ownership interest) or does not have the ability to exercise significant influence are accounted for in accordance with ASC 825-10, “Recognition and Measurement of Financial Assets and Financial Liabilities” (“ASC 825-10”). Gains and losses on equity securities with readily determinable fair market values are recorded in Other, net in the Statement of Operations based on the closing price at the end of each reporting period. 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. See Note 6—Investments.
Financial instruments and derivatives	Financial instruments and derivatives The carrying value of the Company’s financial instruments, including cash and cash equivalents, approximate fair value. The fair value of financial instruments is generally determined by reference to market values resulting from trading on a national securities exchange, trading in an over-the-counter market which are considered to be Level 2 measurements or unobservable inputs that require the Company to use its own best estimates about market participant assumptions which are considered to be Level 3 measurements. See Note 11—Financial Instruments and Fair Value Measurements. ASC 815, “Derivatives and Hedging” (“ASC 815”) requires derivative instruments to be recorded on the balance sheet at fair value as either an asset or a liability. ASC 815 also requires that changes in the fair value of recorded derivatives be recognized currently in the Statements of Operations unless specific hedge accounting criteria are met. For derivatives that will be accounted for as hedging instruments, the Company formally designates and documents, at inception, the financial instrument as a hedge of a specific underlying exposure, the risk management objective and the strategy for undertaking the hedge transaction. On an ongoing basis, the Company assesses whether the financial instruments used in hedging transactions continue to be highly effective. The Company determines the fair values of its derivatives using standard valuation models. The notional amounts of the derivative financial instruments do not necessarily represent amounts exchanged by the parties and, therefore, are not a direct measure of the Company’s exposure to the financial risks. The amounts exchanged are calculated by reference to the notional amounts and by other terms of the derivatives, such as interest rates and foreign currency exchange rates. The Company does not view the fair values of its derivatives in isolation, but rather in relation to the fair values or cash flows of the underlying hedged transactions or other exposures. All of the Company’s derivatives are over-the-counter instruments with liquid markets. The carrying values of the derivatives reflect the impact of master netting agreements which allow the Company to net settle positive and negative positions with the same counterparty. As the Company does not intend to settle any derivatives at their net positions, derivative instruments are presented gross in the Balance Sheets. See Note 11—Financial Instruments and Fair Value Measurements. The Company monitors its positions with, and the credit quality of, the financial institutions which are counterparties to its financial instruments. The Company is exposed to credit loss in the event of nonperformance by the counterparties to the agreements. As of June 30, 2022, the Company did not anticipate nonperformance by any of the counterparties. Cash flow hedges Cash flow hedges are used to mitigate the Company’s exposure to variability in cash flows that is attributable to particular risk associated with a highly probable forecasted transaction or a recognized asset or liability which could affect income or expenses. The gain or loss on the hedging instrument is recognized directly in Accumulated other comprehensive loss. Amounts recorded in Accumulated other comprehensive loss are recognized in the Statements of Operations when the hedged forecasted transaction impacts income or if the forecasted transaction is no longer expected to occur. Upon adoption of Accounting Standards Update (“ASU”) 2017-12 in fiscal 2020, the Company reclassified $5 million in gains from Accumulated deficit to Accumulated other comprehensive loss related to amounts previously recorded for the ineffective portion of outstanding derivative instruments designated as cash flow hedges. The Company excluded the cross-currency basis spread from the changes in fair value of the derivative instruments from the assessment of hedge effectiveness for all periods presented. Fair value hedges Fair value hedges are used to mitigate the Company’s exposure to changes in the fair value of a recognized asset or liability, or an identified portion thereof, that is attributable to a particular risk and could affect income or expenses. The hedged item is adjusted for gains and losses attributable to the risk being hedged and the derivative is remeasured to fair value. The Company records the changes in the fair value of these items in the Statements of Operations. Economic hedges
Property, plant and equipment	Property, plant and equipmentProperty, plant and equipment are stated at cost less accumulated depreciation. Depreciation is calculated using the straight-line method over an estimated useful life of 2 to 50 years. Leasehold improvements are amortized using the straight-line method over the shorter of their useful lives or the life of the lease. Costs associated with the repair and maintenance of property, plant and equipment are expensed as incurred. Changes in circumstances, such as technological advances or changes to the Company’s business model or capital strategy, could result in the actual useful lives differing from the Company’s estimates. In those cases where the Company determines that the useful life of buildings and equipment should be changed, the Company would depreciate the asset over its revised remaining useful life, thereby increasing or decreasing depreciation expense. Refer to Note 7—Property, Plant and Equipment for further detail.
Capitalized software	Capitalized software In accordance with ASC 350-40, “Internal-use Software,” the Company capitalizes certain costs incurred in connection with developing or obtaining internal-use software. Costs incurred in the preliminary project stage are expensed. All direct costs incurred to develop internal-use software during the development stage are capitalized and amortized using the straight-line method over the estimated useful life, generally 2 to 15 years. Costs such as maintenance and training are expensed as incurred. Research and development costs are also expensed as incurred. In accordance with ASC 350-24, “Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract,” the Company evaluates upfront costs, including implementation, set-up or other costs (collectively, “implementation costs”), for hosting arrangements under the internal-use software framework. Costs related to preliminary project activities and post implementation activities are expensed as incurred, whereas costs incurred in the development stage are generally capitalized as prepaid assets within Other Current Assets in the Balance Sheet. Capitalized implementation costs are amortized on a straight-line basis over the expected term of the hosting arrangement, which includes consideration of the non-cancellable contractual term and reasonably certain renewals. Amortization of capitalized implementation costs is included in the same line item in the Statements of Operations as the expense for fees for the associated hosting arrangement.
Leases	Leases Leases are classified as either finance leases or operating leases. A lease is classified as a finance lease if any one of the following criteria are met: the lease transfers ownership of the asset by the end of the lease term, the lease contains an option to purchase the asset that is reasonably certain to be exercised, the lease term is for a major part of the remaining useful life of the asset or the present value of the lease payments equals or exceeds substantially all of the fair value of the asset. A lease is classified as an operating lease if it does not meet any one of these criteria. The Company’s operating leases primarily consist of real estate, including office space, warehouse space and printing facilities, and satellite transponders for purposes of providing its subscription video services to consumers and its finance leases consist of satellite transponders. For operating leases, minimum lease payments, including minimum scheduled rent increases, are recognized as rent expense on a straight-line basis over the applicable lease terms. For finance leases, lease expense consists of the depreciation of the right-of-use asset, as well as interest expense recognized on the lease liability based on the effective interest method using the rate implicit in the lease or the Company's incremental borrowing rate. A lease's term begins on the date that the Company obtains possession of the leased premises and goes through the expected lease termination date. See Note 10—Leases.
Royalty advances to authors	Royalty advances to authors Royalty advances are initially capitalized and subsequently expensed as related revenues are earned or when the Company determines future recovery is not probable. The Company has a long history of providing authors with royalty advances, and it tracks each advance earned with respect to the sale of the related publication. Historically, the longer the unearned portion of the advance remains outstanding, the less likely it is that the Company will recover the advance through the sale of the publication. The Company applies this historical experience to its existing outstanding royalty advances to estimate the likelihood of recovery and a provision is established to write-off the unearned advance, usually between 12 and 24 months after initial publication of the first format. Additionally, the Company reviews its portfolio of royalty advances for unpublished titles to determine if individual royalty advances are not recoverable for discrete reasons, such as the death of an author prior to completion of a title or titles, a Company decision to not publish a title, poor market demand or other relevant factors that could impact recoverability. Based on this information, the portion of any advance that the Company believes is not recoverable is expensed.
Business Combinations	Business Combinations The purchase price of each acquisition is attributed to the assets acquired and liabilities assumed based on their fair values at the date of acquisition, with certain exceptions in accordance with GAAP. Determining the fair value of assets acquired and liabilities assumed involves the use of significant judgments, including judgments about appropriate discount rates, attrition rates, royalty rates and future cash flows. The excess purchase price over the fair value of net tangible and identifiable intangible assets acquired is recorded as goodwill and is assigned to the reporting unit that is expected to benefit from the business combination as of the acquisition date.
Goodwill and intangible assets	Goodwill and intangible assets The Company has goodwill and intangible assets, including trademarks and tradenames, newspaper mastheads, publishing imprints, radio broadcast licenses, publishing rights and customer relationships. Goodwill is recorded as the difference between the cost of acquiring entities or businesses and amounts assigned to their tangible and identifiable intangible net assets. In accordance with ASC 350, the Company’s goodwill and indefinite-lived intangible assets are tested annually during the fourth quarter for impairment or earlier if events occur or circumstances change that would more likely than not reduce the fair values below their carrying amounts. Intangible assets with finite lives are amortized over their estimated useful lives. Goodwill is reviewed for impairment at a reporting unit level. Reporting units are determined based on an evaluation of the Company’s operating segments and the components making up those operating segments. For purposes of its goodwill impairment review, the Company has identified REA Group, Move, Inc. (“Move”), the Foxtel Group, Australian News Channel (“ANC”), Dow Jones, HarperCollins, the Australian newspapers, the U.K. newspapers, TalkTV, the New York Post , Storyful Limited (“Storyful”), and Wireless Group plc (“Wireless Group”) as its reporting units. In accordance with ASC 350, in assessing goodwill for impairment, the Company has the option to first perform a qualitative assessment to determine whether events or circumstances exist that lead to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If the Company determines that it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, the Company is not required to perform any additional tests in assessing goodwill for impairment. However, if the Company concludes otherwise or elects not to perform the qualitative assessment, then it is required to perform a quantitative analysis to determine the fair value of the reporting unit, and compare the calculated fair value with its carrying amount, including goodwill. If through a quantitative analysis the Company determines the fair value of a reporting unit exceeds its carrying amount, the goodwill of the reporting unit is considered not to be impaired. If the Company concludes that the fair value of the reporting unit is less than its carrying value, an impairment will be recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value. The Company also performs impairment reviews on its indefinite-lived intangible assets, including trademarks and tradenames, newspaper mastheads, publishing imprints and radio broadcast licenses. Newspaper mastheads and book publishing imprints are reviewed on an aggregated basis in accordance with ASC 350. Trademarks and tradenames and radio broadcast licenses are reviewed individually. In assessing its indefinite-lived intangible assets for impairment, the Company has the option to first perform a qualitative assessment to determine whether events or circumstances exist that lead to a determination that it is more likely than not that the fair value of the indefinite-lived intangible asset is less than its carrying amount. If the Company determines that it is not more likely than not that the fair value of an indefinite-lived intangible asset is less than its carrying amount, the Company is not required to perform any additional tests in assessing the asset for impairment. However, if the Company concludes otherwise or elects not to perform the qualitative assessment, then it is required to perform a quantitative analysis to determine if the fair value of an indefinite-lived intangible asset is less than its carrying value. If through a quantitative analysis the Company determines the fair value of an indefinite-lived intangible asset exceeds its carrying amount, the indefinite-lived intangible asset is considered not to be impaired. If the Company concludes that the fair value of an indefinite-lived intangible asset is less than its carrying value, an impairment will be recognized for the amount by which the carrying amount exceeds the indefinite-lived intangible asset’s fair value. The methods used to estimate the fair value measurements of the Company’s reporting units and indefinite-lived intangible assets include those based on the income approach (including the discounted cash flow, relief-from-royalty and excess earnings methods) and those based on the market approach (primarily the guideline public company method). The resulting fair value measurements of the assets are considered to be Level 3 measurements. Determining fair value requires the exercise of significant judgments, including judgments about appropriate discount rates, long-term growth rates, relevant comparable company earnings multiples and the amount and timing of expected future cash flows. The cash flows employed in the analyses are based on the Company’s estimated outlook and various growth rates are assumed for years beyond the long-term business plan period. Discount rate assumptions are based on an assessment of the risk inherent in the future cash flows of the respective reporting units. In assessing the reasonableness of its determined fair values, the Company evaluates its results against other value indicators, such as comparable public company trading values. When a business within a reporting unit is disposed of, goodwill is allocated to the disposed business using the relative fair value method. See Note 8—Goodwill and Other Intangible Assets.
Borrowings	Borrowings Loans and borrowings are initially recognized at the fair value of the consideration received. Transaction costs are recorded within current borrowings (current portion) and non-current borrowings (long-term portion) in the Consolidated Balance Sheets. They are subsequently recognized at amortized cost using the effective interest method. Debt may be considered extinguished when it has been modified and the terms of the new debt instruments and old debt instruments are substantially different, as that term is defined in the debt modification guidance in ASC 470-50 “Debt—Modifications and Extinguishments.” 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 “Debt.” See Note 9—Borrowings.
Retirement benefit obligations	Retirement benefit obligations The Company provides defined benefit pension, postretirement healthcare and defined contribution benefits to the Company’s eligible employees and retirees. The Company accounts for its defined benefit pension, postretirement healthcare and defined contribution plans in accordance with ASC 715, “Compensation—Retirement Benefits” (“ASC 715”). The expense recognized by the Company is determined using certain assumptions, including the discount rate, expected long-term rate of return of pension assets and mortality rates, among others. The Company recognizes the funded status of its defined benefit plans (other than multiemployer plans) as an asset or liability in the Balance Sheets and recognizes changes in the funded status in the year in which the changes occur through Accumulated other comprehensive loss in the Balance Sheets. The Company recognizes the
Fair value measurements	Fair value measurements The Company has various financial instruments that are measured at fair value on a recurring basis, including certain marketable securities and derivatives. The Company also applies the provisions of fair value measurement to various non-recurring measurements for the Company’s non-financial assets and liabilities. With the exception of investments measured using the net asset value per share practical expedient in accordance with ASC 820, “Fair Value Measurements” (“ASC 820”)” or ASC 825-10 described above, the Company measures assets and liabilities in accordance with ASC 820, using inputs from the following three levels of the fair value hierarchy: (i) inputs that are quoted prices in active markets for identical assets or liabilities (“Level 1”); (ii) inputs other than quoted prices included within Level 1 that are observable, including quoted prices for similar assets or liabilities (“Level 2”); and (iii) unobservable inputs that require the entity to use its own best estimates about market participant assumptions (“Level 3”). See Note 11—Financial Instruments and Fair Value Measurements. The Company’s assets measured at fair value on a nonrecurring basis include investments, long-lived assets, indefinite-lived intangible assets and goodwill. The Company reviews the carrying amounts of such assets whenever events or changes in circumstances indicate that the carrying amounts may not be recoverable or at least annually during the fourth quarter for indefinite-lived intangible assets and goodwill. Any resulting asset impairment would require that the asset be recorded at its fair value. The resulting fair value measurements of the assets are considered to be Level 3 measurements.
Asset impairments	Asset impairments Investments Equity method investments are regularly reviewed to determine whether a significant event or change in circumstances has occurred that may impact the fair value of each investment. If the fair value of the investment has dropped below the carrying amount, management considers several factors when determining whether an other-than-temporary decline in market value has occurred, including the length of time and extent to which the market value has been below cost, the financial condition and near-term prospects of the issuer, the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in market value and other factors influencing the fair market value, such as general market conditions. Long-lived assets ASC 360, “Property, Plant, and Equipment” (“ASC 360”) and ASC 350 require the Company to periodically review the carrying amounts of its long-lived assets, including property, plant and equipment and finite-lived intangible assets, to determine whether current events or circumstances indicate that such carrying amounts may not be recoverable. If the carrying amount of the asset is greater than the expected undiscounted cash flows to be generated by such asset, an impairment adjustment is recognized if the carrying value of such asset exceeds its fair value. The Company generally measures fair value by considering sale prices for similar assets or by discounting estimated future cash flows using an appropriate discount rate. Considerable management judgment is necessary to estimate the fair value of assets; accordingly, actual results could vary significantly from such estimates. Assets to be disposed of are carried at the lower of their financial statement carrying amount or fair value, less their costs to sell.
Treasury Stock	Treasury Stock The Company accounts for treasury stock using the cost method. Upon the retirement of treasury stock, the Company allocates the value of treasury shares between common stock, additional paid-in capital and accumulated deficit. All shares repurchased to date have been retired. See Note 12—Stockholders' Equity.
Revenue recognition	Revenue recognition Circulation and subscription revenues Circulation and subscription revenues include subscription and single-copy sales of digital and print news products, information services subscription revenues and pay television broadcast and streaming subscription revenues. Circulation revenues are based on the number of copies of the printed news products (through home-delivery subscriptions and single-copy sales) and/or digital subscriptions sold, and the associated rates charged to the customers. Single-copy revenue is recognized at a point in time on the date the news products are sold to distribution outlets, net of provisions for related returns. Revenues from home delivery and digital subscriptions are recognized over the subscription term as the news products and/or digital subscriptions are delivered. Information services subscription revenues are recognized over time as the subscriptions are delivered. Payments from subscribers are generally due at the beginning of the month and are recorded as deferred revenue. Such amounts are recognized as revenue as the associated subscription is delivered. Revenue generated from subscriptions to receive pay television broadcast, streaming, broadband and phone services for residential and commercial subscribers is recognized over time on a monthly basis as the services are provided. Payment is generally received monthly in advance of providing services, and is deferred upon receipt. Such amounts are recognized as revenue as the related services are provided. Advertising revenues Revenue from print advertising is recognized at the point in time the print advertisement is published. Broadcast advertising revenue is recognized over the time that the broadcast advertisement is aired. For impressions-based digital advertising, revenues are recognized as impressions are delivered over the term of the arrangement, while revenue from non-impressions-based digital advertising is recognized over the period that the advertisements are displayed. Such amounts are recognized net of agency commissions and provisions for estimated sales incentives, including rebates, rate adjustments or discounts. Advertising revenues earned from integrated marketing services are recognized at the point in time when free-standing inserts are published. Revenues earned from in-store marketing services are partially recognized upon installation, with the remaining revenue recognized over the in-store campaign. The Company enters into transactions that involve the exchange of advertising, in part, for other products and services, which are recorded at the estimated fair value of the product or service received. If the fair value of the product or service received cannot be reliably determined, the value is measured indirectly by reference to the standalone selling price of the advertising provided by the Company. Revenue from nonmonetary transactions is recognized when services are performed, and expenses are recognized when products are received or services are incurred. Billings to clients and payments received in advance of performance of services or delivery of products are recorded as deferred revenue until the services are performed or the product is delivered. Payment for advertising services is typically due shortly after the Company has satisfied its performance obligation to print, broadcast or place the advertising specified in the contract. For advertising campaigns that extend beyond one month, the Company generally invoices the advertiser in arrears based on the number of advertisements that were printed, broadcast or placed, or impressions delivered during the month. Consumer revenues Revenue from the sale of physical books and electronic books (“e-books”) is recognized at the point in time of physical receipt by the customer or electronic delivery. Such amounts are recorded net of provisions for returns and payments to customers. If the Company prohibits its customer from selling a physical book until a future date, it recognizes revenue when that restriction lapses. Revenue is recognized net of any amounts billed to customers for taxes remitted to government authorities. Payments for the sale of physical books and e-books are generally collected within one to three months of sale or delivery and are based on the number of physical books or e-books sold. Real Estate revenues Real estate revenues are derived from the sale of digital real estate listing and lead generation products, as well as services to agents, brokers and developers. Revenue is typically recognized over the contractual period during which the services are provided. Payments are generally due monthly over the subscription term. The Company also provides certain leads to agents and brokers at no upfront cost with the Company receiving a portion of the agent sales commission at the time a home transaction is closed. As the amount of revenues is based on several factors outside of the Company’s control including home prices, revenue is recognized when a real estate transaction is closed and any variability no longer exists. Other revenues Other revenues are recognized when the related services are performed or the product has been delivered. Contracts with multiple performance obligations The Company has certain revenue contracts which contain multiple performance obligations such as print and digital advertising bundles, digital and print newspaper subscription bundles and bundled video service subscriptions. Revenues derived from sales contracts that contain multiple products and services are allocated based on the relative standalone selling price of each performance obligation to be delivered. Standalone selling price is typically determined based on prices charged to customers for the same or similar goods or services on a standalone basis. If observable standalone prices are not available, the Company estimates standalone selling price by maximizing the use of observable inputs to most accurately reflect the price of each individual performance obligation. Revenue is recognized as each performance obligation included in the contract is satisfied. Identification of a customer and gross versus net revenue recognition In the normal course of business, the Company acts as or uses an intermediary or agent in executing transactions with third parties. When the intermediary or agent is determined to be the Company’s customer, the Company records revenue based on the amount it expects to receive from the agent or intermediary. In other circumstances, the determination of whether revenue should be reported on a gross or net basis is based on an assessment of whether the Company is acting as the principal or an agent in the transaction. If the Company is acting as a principal in a transaction, the Company reports revenue on a gross basis. If the Company is acting as an agent in a transaction, the Company reports revenue on a net basis. The determination of whether the Company is acting as a principal or an agent in a transaction involves judgment and is based on an evaluation of the terms of the arrangement. The Company serves as the principal in transactions in which it controls the goods or services prior to being transferred to the ultimate customer. Sales returns Certain of the Company’s products, such as books and newspapers, are sold with the right of return. The Company records the estimated impact of such returns as a reduction of revenue. To estimate product sales that will be returned and the related products that are expected to be placed back into inventory, the Company analyzes historical returns, current economic trends, changes in customer demand and acceptance of the Company’s products. Based on this information, the Company reserves a percentage of each dollar of product sales that provide the customer with the right of return.
Subscriber acquisition costs	Subscriber acquisition costs Costs related to the acquisition of subscription video service customers primarily consist of amounts paid for third-party customer acquisitions, which consist of the cost of commissions paid to authorized retailers and dealers for subscribers added through their respective distribution channels and the cost of hardware and installation subsidies for subscribers. All costs, including hardware, installation and commissions, are expensed upon activation, except where legal ownership of the equipment is retained, in which case the cost of the equipment and direct and indirect installation costs are capitalized and depreciated over the respective useful life.
Advertising expenses	Advertising expensesThe Company expenses advertising costs as incurred in accordance with ASC 720-35, “Other Expenses—Advertising Cost.”
Shipping and handling	Shipping and handling Costs incurred for shipping and handling are reflected in Operating expenses in the Statements of Operations.
Translation of foreign currencies	Translation of foreign currencies The financial results and position of foreign subsidiaries and affiliates are translated into U.S. dollars using the current rate method, whereby operating results are converted at the average rate of exchange for the period and assets and liabilities are converted at the closing rates on the period end date. The resulting translation adjustments are accumulated as a component of
Income taxes	Income taxes The Company accounts for income taxes in accordance with ASC 740, “Income Taxes” (“ASC 740”). ASC 740 requires an asset and liability approach for financial accounting and reporting for income taxes. Under the asset and liability approach, deferred taxes are provided for the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Valuation allowances are established where management determines that it is more likely than not that some portion or all of a deferred tax asset will not be realized. The Company recognizes interest and penalty charges related to unrecognized tax benefits as income tax expense. Prior to the enactment of the Tax Cuts and Jobs Act (“Tax Act”), the Company’s undistributed foreign earnings were considered permanently reinvested and as such, United States federal and state income taxes were not previously recorded on these earnings. As a result of the Tax Act, substantially all of the Company’s earnings in foreign subsidiaries generated prior to the enactment of the Tax Act were deemed to have been repatriated and taxed accordingly. As of June 30, 2022, the Company has approximately $900 million of undistributed foreign earnings that it intends to reinvest permanently. It is not practicable to estimate the amount of tax that might be payable if these earnings were repatriated. The Company may repatriate future earnings of certain foreign subsidiaries in which case the Company may be required to accrue and pay additional taxes, including any applicable foreign withholding taxes and income taxes. See Note 19—Income Taxes.
Earnings (loss) per share	Earnings (loss) per share Basic earnings (loss) per share for Class A Common Stock and Class B Common Stock is calculated by dividing Net income (loss) attributable to News Corporation stockholders by the weighted average number of shares of Class A Common Stock and Class B Common Stock outstanding during the period. Diluted earnings (loss) per share for Class A Common Stock and Class B Common Stock is calculated similarly, except that the calculation includes the dilutive effect of the assumed issuance of shares issuable under the Company’s equity-based compensation plans. See Note 14—Earnings (Loss) Per Share.
Equity-based compensation	Equity-based compensation Equity-based awards are accounted for in accordance with ASC 718, “Compensation—Stock Compensation” (“ASC 718”). ASC 718 requires that the cost resulting from all share-based payment transactions be recognized in the Consolidated Financial Statements. ASC 718 establishes fair value as the measurement objective in accounting for share-based payment arrangements and requires all companies to apply a fair-value-based measurement method in accounting for generally all share-based payment transactions with employees. See Note 13—Equity-Based Compensation.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Adopted In December 2019, the FASB issued ASU 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes” (“ASU 2019-12”). The amendments in ASU 2019-12 remove certain exceptions to the general principles in Topic 740 and simplify other areas of Topic 740 including the accounting for and recognition of intraperiod tax allocation, deferred tax liabilities for outside basis differences for certain foreign subsidiaries, year-to-date losses in interim periods, deferred tax assets for goodwill in business combinations and franchise taxes in income tax expense. The Company adopted ASU 2019-12 on a prospective basis as of July 1, 2021 and the adoption did not have a material effect on the Company’s Consolidated Financial Statements. In October 2021, the FASB issued ASU 2021-08, “Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers” (“ASU 2021-08”). The amendments in ASU 2021-08 require that an entity (acquirer) recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Accounting Standards Codification 606, “Revenue From Contracts with Customers” (“ASC 606”). The Company elected to early adopt ASU 2021-08 on a prospective basis during the second quarter of fiscal 2022 (which includes retroactive adoptions for any acquisitions in the current fiscal year). The adoption did not have a material effect on the Company’s Consolidated Financial Statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Components of Receivables, Net	Receivables, net consist of: As of June 30, 2022 2021 (in millions) Receivables $ 1,569 $ 1,569 Less: allowances (67) (71) Receivables, net $ 1,502 $ 1,498

Revenues (Tables)

Revenues (Tables)	12 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Summary of Disaggregated Revenue by Type and Segment	The following tables present the Company’s disaggregated revenues by type and segment for the fiscal years ended June 30, 2022, 2021 and 2020: For the fiscal year ended June 30, 2022 Digital Real Estate Services Subscription Video Services Dow Jones Book Publishing News Media Other Total Revenues (in millions) Revenues: Circulation and subscription $ 13 $ 1,753 $ 1,516 $ — $ 1,143 $ — $ 4,425 Advertising 135 232 449 — 1,005 — 1,821 Consumer — — — 2,106 — — 2,106 Real estate 1,347 — — — — — 1,347 Other 246 41 39 85 275 — 686 Total Revenues $ 1,741 $ 2,026 $ 2,004 $ 2,191 $ 2,423 $ — $ 10,385 For the fiscal year ended June 30, 2021 Digital Real Estate Services Subscription Video Services Dow Jones Book Publishing News Media Other Total Revenues (in millions) Revenues: Circulation and subscription $ 25 $ 1,825 $ 1,296 $ — $ 1,060 $ — $ 4,206 Advertising 126 210 373 — 885 — 1,594 Consumer — — — 1,908 — — 1,908 Real estate 1,153 — — — — — 1,153 Other 89 37 33 77 260 1 497 Total Revenues $ 1,393 $ 2,072 $ 1,702 $ 1,985 $ 2,205 $ 1 $ 9,358 For the fiscal year ended June 30, 2020 Digital Real Estate Services Subscription Video Services Dow Jones Book Publishing News Media Other Total Revenues (in millions) Revenues: Circulation and subscription $ 36 $ 1,673 $ 1,191 $ — $ 956 $ 1 $ 3,857 Advertising 98 174 359 — 1,562 — 2,193 Consumer — — — 1,593 — — 1,593 Real estate 862 — — — — — 862 Other 69 37 40 73 283 1 503 Total Revenues $ 1,065 $ 1,884 $ 1,590 $ 1,666 $ 2,801 $ 2 $ 9,008
Summary of Deferred Revenue from Contracts with Customers	The following table presents changes in the deferred revenue balance for the fiscal years ended June 30, 2022 and 2021: For the fiscal year ended June 30, 2022 2021 (in millions) Beginning balance $ 473 $ 398 Deferral of revenue 3,558 3,152 Recognition of deferred revenue (a) (3,477) (3,109) Other (b) 50 32 Ending balance $ 604 $ 473 ________________________ (a) For the fiscal years ended June 30, 2022 and 2021, the Company recognized approximately $435 million and $381 million, respectively, of revenue which was included in the opening deferred revenue balance. (b) For the fiscal year ended June 30, 2022, includes $68 million of deferred revenue acquired as a result of the OPIS and CMA acquisitions. For the fiscal year ended June 30, 2021, includes $16 million of deferred revenue acquired as a result of the acquisition of IBD. See Note 4—Acquisitions, Disposals and Other Transactions.

Acquisitions, Disposals and O_2

Acquisitions, Disposals and Other Transactions (Tables)	12 Months Ended
	Jun. 30, 2022
Business Combinations [Abstract]
Major Classes of Assets and Liabilities Disposed of	The major classes of assets and liabilities disposed of were as follows: As of May 5, 2020 (in millions) Receivables, net $ 214 Other current assets 26 Intangible assets, net 225 Other non-current assets 29 Impairment charge on disposal group (a) (175) Total assets $ 319 Accounts payable $ 33 Accrued expenses 65 Deferred revenue 51 Other current liabilities 46 Other non-current liabilities 7 Total liabilities $ 202 ________________________ (a) See Note 8—Goodwill and Other Intangible Assets.

Restructuring Programs (Tables)

Restructuring Programs (Tables)	12 Months Ended
	Jun. 30, 2022
Restructuring and Related Activities [Abstract]
Schedule of Changes in Restructuring Program Liabilities	Changes in the restructuring program liabilities were as follows: One-time employee termination benefits Facility related costs Other costs Total (in millions) Balance, June 30, 2019 $ 28 $ 2 $ 10 $ 40 Additions 140 — — 140 Payments (109) — (1) (110) Other 5 (2) — 3 Balance, June 30, 2020 $ 64 $ — $ 9 $ 73 Additions 83 — 85 168 Payments (97) — (55) (152) Other 1 — (4) (3) Balance, June 30, 2021 $ 51 $ — $ 35 $ 86 Additions 69 — 25 94 Payments (92) — (19) (111) Other (3) — — (3) Balance, June 30, 2022 $ 25 $ — $ 41 $ 66

Investments (Tables)

Investments (Tables)	12 Months Ended
	Jun. 30, 2022
Schedule of Investments [Abstract]
Schedule of Investments	The Company’s investments were comprised of the following: Ownership Percentage as of June 30, 2022 As of June 30, 2022 2021 (in millions) Equity method investments (a) various $ 276 $ 71 Equity securities (b) various 212 280 Total Investments $ 488 $ 351 ________________________ (a) In the first quarter of fiscal 2022, REA Group acquired an 18% interest (16.6% on a diluted basis) in PropertyGuru in exchange for all shares of REA Group’s entities in Malaysia and Thailand. During the fiscal year ended June 30, 2022, PropertyGuru completed its merger with Bridgetown 2 Holdings Limited. As a result of the merger and subsequent investments made in connection with the transaction, REA Group’s ownership interest in PropertyGuru was 17.5% and a gain of approximately $15 million was recorded in Other, net. Refer to Note 4—Acquisitions, Disposals and Other Transactions and Note 21—Additional Financial Information for further discussion. (b) Equity securities are primarily comprised of Tremor, certain investments in China and the Company’s investment in HT&E Limited, which operates a portfolio of Australian radio and outdoor media assets.
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 fiscal year ended June 30, 2022 2021 2020 (in millions) Total (losses) gains recognized on equity securities $ (59) $ 81 $ (21) Less: Net losses recognized on equity securities sold or impaired — (1) — Unrealized (losses) gains recognized on equity securities held at end of period $ (59) $ 82 $ (21)

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	12 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Components of Property, Plant and Equipment	Original As of June 30, 2022 2021 (in millions) Land $ 120 $ 131 Buildings and leaseholds 3 to 50 years 1,478 1,692 Digital set top units and installations 5 to 10 years 1,109 1,151 Machinery and equipment 2 to 20 years 1,278 1,809 Capitalized software 2 to 15 years 1,707 1,632 Finance lease right-of-use assets 15 years 124 138 5,816 6,553 Less: accumulated depreciation and amortization (a) (3,933) (4,460) 1,883 2,093 Construction in progress 220 179 Total Property, plant and equipment, net $ 2,103 $ 2,272 ________________________ (a) Includes accumulated amortization of capitalized software of approximately $1,135 million and $1,100 million as of June 30, 2022 and 2021, respectively.

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Carrying Values of Intangible Assets and Related Accumulated Amortization	The carrying values of the Company’s intangible assets and related accumulated amortization for the fiscal years ended June 30, 2022 and June 30, 2021 were as follows: As of June 30, 2022 2021 (in millions) Intangible Assets Not Subject to Amortization Trademarks and tradenames $ 411 $ 389 Newspaper mastheads 281 282 Imprints 218 250 Radio broadcast licenses 118 136 Total intangible assets not subject to amortization 1,028 1,057 Intangible Assets Subject to Amortization Publishing rights (a) 348 383 Customer relationships (b) 1,233 697 Other (c) 62 42 Total intangible assets subject to amortization, net 1,643 1,122 Total Intangible assets, net $ 2,671 $ 2,179 ________________________ (a) Net of accumulated amortization of $306 million and $275 million as of June 30, 2022 and 2021, respectively. The useful lives of publishing rights range from 3 to 30 years primarily based on the weighted-average remaining contractual terms of the underlying publishing contracts and the Company’s estimates of the period within those terms that the asset is expected to generate a majority of its future cash flows. (b) Net of accumulated amortization of $759 million and $693 million as of June 30, 2022 and 2021, respectively. The useful lives of customer relationships range from 3 to 25 years. The useful lives of these assets are estimated by applying historical attrition rates and determining the resulting period over which a majority of the accumulated undiscounted cash flows related to the customer relationships are expected to be generated. (c) Net of accumulated amortization of $85 million and $81 million as of June 30, 2022 and 2021, respectively. The useful lives of other intangible assets range from 3 to 15 years. The useful lives represent the periods over which these intangible assets are expected to contribute directly or indirectly to the Company’s future cash flows.
Schedule of Changes in Carrying Value of Goodwill, by Segment	The changes in the carrying value of goodwill, by segment, are as follows: Digital Real Subscription Dow Jones Book News Media Total (in millions) Balance, June 30, 2020 $ 1,333 $ 885 $ 1,368 $ 264 $ 101 $ 3,951 Acquisitions (a) 224 — 166 124 — 514 Dispositions — — — (1) — (1) Foreign exchange and other 60 93 (2) 26 12 189 Balance, June 30, 2021 $ 1,617 $ 978 $ 1,532 $ 413 $ 113 $ 4,653 Acquisitions (a) 39 — 659 8 32 738 Foreign exchange and other (95) (99) — (14) (14) (222) Balance, June 30, 2022 $ 1,561 $ 879 $ 2,191 $ 407 $ 131 $ 5,169 ________________________ (a) See Note 4—Acquisitions, Disposals and Other Transactions for the primary drivers of increases in goodwill by segment.

Borrowings (Tables)

Borrowings (Tables)	12 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Schedule of Borrowings	The Company’s total borrowings consist of the following: Interest rate at June 30, Maturity at June 30, As of June 30, 2022 As of June 30, 2021 (in millions) News Corporation 2022 Term loan A 3.529 % Mar 31, 2027 500 — 2022 Senior notes 5.125 % Feb 15, 2032 492 — 2021 Senior notes 3.875 % May 15, 2029 987 985 Foxtel Group (a) 2019 Credit facility (b) 4.11 % May 31, 2024 68 232 2019 Term loan facility 6.25 % Nov 22, 2024 171 190 2017 Working capital facility (b) 4.11 % May 31, 2024 — — Telstra facility 8.16 % Dec 22, 2027 90 60 2012 US private placement—USD portion—tranche 2 (c) 4.27 % Jul 25, 2022 198 202 2012 US private placement—USD portion—tranche 3 (c) 4.42 % Jul 25, 2024 147 152 2012 US private placement—AUD portion 7.04 % Jul 25, 2022 68 78 REA Group (a) 2022 Credit facility - tranche 1 (d) 2.79 % Sep 16, 2024 273 — 2022 Credit facility - tranche 2 (d) 2.94 % Sep 16, 2025 8 — 2021 Bridge facility — % Jul 31, 2022 — 314 Finance lease liability See Note 10 67 100 Total borrowings 3,069 2,313 Less: current portion (e) (293) (28) Long-term borrowings 2,776 2,285 ________________________ (a) These borrowings were incurred by certain subsidiaries of NXE Australia Pty Limited (the “Foxtel Group” and together with such subsidiaries, the “Foxtel Debt Group”) and REA Group and certain of its subsidiaries (REA Group and certain of its subsidiaries, the “REA Debt Group”), consolidated but non wholly-owned subsidiaries of News Corp, and are only guaranteed by the Foxtel Group and REA Group and their respective subsidiaries, as applicable, and are non-recourse to News Corp. (b) As of June 30, 2022, the Foxtel Debt Group had total undrawn commitments of A$539 million available under these facilities. (c) The carrying values of the borrowings include any fair value adjustments related to the Company’s fair value hedges. See Note 11—Financial Instruments and Fair Value Measurements. (d) As of June 30, 2022, REA Group had total undrawn commitments of A$187 million available under this facility. (e) 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.” $27 million and $28 million relates to the current portion of finance lease liabilities as of June 30, 2022 and 2021, respectively.
Scheduled of Debt Maturities Excluding Other Obligations and Debt Issuance Costs	The following table summarizes the Company’s debt maturities, excluding debt issuance costs and finance lease liabilities, as of June 30, 2022: As of June 30, 2022 (in millions) Fiscal 2023 $ 271 Fiscal 2024 81 Fiscal 2025 602 Fiscal 2026 33 Fiscal 2027 450 Thereafter 1,590

Leases (Tables)

Leases (Tables)	12 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Schedule of total lease cost	The total lease cost for operating and finance leases included in the Statements of Operations was as follows: For the fiscal years ended June 30, 2022 2021 2020 Income Statement Location (in millions) Operating lease costs Selling, general and administrative $ 125 $ 135 $ 139 Operating lease costs Operating expenses 36 37 64 Finance lease costs Depreciation and amortization 27 27 6 Finance lease costs Interest expense, net 3 4 1 Short term lease costs Operating expenses 12 15 9 Variable lease costs Selling, general and administrative 24 28 41 Total lease costs $ 227 $ 246 $ 260
Schedule of additional information related to leases	Additional information related to the Company’s operating and finance leases under ASU 2016-02: As of June 30, 2022 As of June 30, 2021 Operating Leases Finance Leases Operating Leases Finance Leases Weighted-average remaining lease term 11.0 years 2.8 years 11.8 years 3.7 years Weighted-average incremental borrowing rate 3.56 % 3.64 % 3.54 % 3.64 % For the fiscal years ended June 30, 2022 2021 (in millions) Cash paid - Operating lease liabilities $ 182 $ 184 Cash paid - Finance lease liabilities - principal 27 30 Cash paid - Finance lease liabilities - interest 3 4 Operating lease right-of-use assets obtained in exchange for operating lease liabilities 72 25
Schedule of future minimum lease payments under non-cancellable leases	Future minimum lease payments as of June 30, 2022 are as follows: As of June 30, 2022 Operating Leases Finance Leases (in millions) Fiscal 2023 $ 172 $ 29 Fiscal 2024 157 26 Fiscal 2025 143 15 Fiscal 2026 126 — Fiscal 2027 120 — Thereafter 614 — Total future minimum lease payments $ 1,332 $ 70 Less: interest (246) (3) Present value of minimum payments $ 1,086 $ 67
Schedule of future minimum lease payments	Future minimum lease payments as of June 30, 2022 are as follows: As of June 30, 2022 Operating Leases Finance Leases (in millions) Fiscal 2023 $ 172 $ 29 Fiscal 2024 157 26 Fiscal 2025 143 15 Fiscal 2026 126 — Fiscal 2027 120 — Thereafter 614 — Total future minimum lease payments $ 1,332 $ 70 Less: interest (246) (3) Present value of minimum payments $ 1,086 $ 67

Financial Instruments and Fai_2

Financial Instruments and Fair Value Measurements (Tables)	12 Months Ended
	Jun. 30, 2022
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: June 30, 2022 June 30, 2021 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total (in millions) Assets: Interest rate derivatives—cash flow hedges $ — $ 24 $ — $ 24 $ — $ — $ — $ — Foreign currency derivatives—cash flow hedges — 1 — 1 — — — — Cross-currency interest rate derivatives—fair value hedges — 19 — 19 — 18 — 18 Cross-currency interest rate derivatives — 79 — 79 — 73 — 73 Equity securities (a) 109 — 103 212 164 — 116 280 Total assets $ 109 $ 123 $ 103 $ 335 $ 164 $ 91 $ 116 $ 371 Liabilities: Interest rate derivatives—cash flow hedges $ — $ — $ — $ — $ — $ 9 $ — $ 9 Cross-currency interest rate derivatives — — — — — 13 — 13 Total liabilities $ — $ — $ — $ — $ — $ 22 $ — $ 22 ________________________ (a) See Note 6—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 fiscal year ended June 30, 2022 2021 (in millions) Balance—beginning of year $ 116 $ 123 Additions 28 11 Returns of capital (45) (8) Measurement adjustments 23 21 Foreign exchange and other (a) (19) (31) Balance—end of year $ 103 $ 116 ________________________ (a) During the fiscal year ended June 30, 2022, the Company reclassified its investment in an equity security from Level 3 to Level 1 within the fair value hierarchy as the investment became publicly traded in the first quarter of fiscal 2022. During the three months ended December 31, 2020, the Company reclassified its investment in Tremor from Level 3 to Level 1 within the fair value hierarchy, as the sale restrictions were expected to lapse within 12 months.
Summary of Hedges Classified as Current or Non-Current in Balance Sheets Based on Maturity Dates	Derivatives are classified as current or non-current in the Balance Sheets based on their maturity dates. Refer to the table below for further details: Fair value as of June 30, Balance Sheet Location 2022 2021 (in millions) Foreign currency derivatives—cash flow hedges Other current assets $ 1 $ — Cross-currency interest rate derivatives—fair value hedges Other current assets 11 — Interest rate derivatives - cash flow hedges Other current assets 4 — Cross-currency interest rate derivatives Other current assets 46 — Interest rate derivatives - cash flow hedges Other non-current assets 20 — Cross-currency interest rate derivatives—fair value hedges Other non-current assets 8 18 Cross-currency interest rate derivatives Other non-current assets 33 73 Interest rate derivatives—cash flow hedges Other current liabilities — (6) Interest rate derivatives—cash flow hedges Other non-current liabilities — (3) Cross-currency interest rate derivatives Other non-current liabilities — (13)
Financial Instruments and Fair Value Measurements - Summary of Derivative Instruments Designated as Cash Flow Hedges	The following table presents the impact that changes in the fair values had on Accumulated other comprehensive loss and the Statements of Operations during the fiscal years ended June 30, 2022, 2021 and 2020 for both derivatives designated as cash flow hedges that continue to be highly effective and derivatives initially designated as cash flow hedges but for which hedge accounting was discontinued as of December 31, 2020: Gain (loss) recognized in Accumulated Other Comprehensive Loss for the fiscal year ended June 30, Income statement location 2022 2021 2020 (in millions) Foreign currency derivatives—cash flow hedges $ 2 $ 3 $ (2) Operating expenses Cross-currency interest rate derivatives — (15) — Interest expense, net Interest rate derivatives—cash flow hedges 30 — (7) Interest expense, net Total $ 32 $ (12) $ (9) (Gain) loss reclassified from Accumulated Other Comprehensive Loss for the fiscal year ended June 30, Income statement location 2022 2021 2020 (in millions) Foreign currency derivatives—cash flow hedges $ — $ (1) $ (2) Operating expenses Cross-currency interest rate derivatives (4) 11 3 Interest expense, net Interest rate derivatives—cash flow hedges (2) 5 (3) Interest expense, net Total $ (6) $ 15 $ (2)
Schedule of Effects of Fair Value Hedging Relationships in Financial Position	The following sets forth the effect of fair value hedging relationships on hedged items in the Balance Sheets as of June 30, 2022 and 2021: As of June 30, 2022 2021 Borrowings: (in millions) Carrying amount of hedged item $ 68 $ 71 Cumulative hedging adjustments included in the carrying amount 2 5

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Jun. 30, 2022
Stockholders' Equity Note [Abstract]
Summary of dividends paid per share	The following table summarizes the dividends declared and paid per share on both the Company’s Class A Common Stock and Class B Common Stock: For the fiscal years ended June 30, 2022 2021 2020 Cash dividends paid per share $ 0.20 $ 0.20 $ 0.20

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	12 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Summary of Equity-Based Compensation Expense from Continuing Operations	The following table summarizes the Company’s equity-based compensation expense reported in the Statements of Operations: For the fiscal years ended June 30, 2022 2021 2020 (in millions) Total equity compensation expense $ 59 $ 128 $ 69
Summary of Activity from Continuing and Discontinued Operations Related to Target PSUs and RSUs Settled in Shares	The following table summarizes the activity related to the target PSUs and RSUs granted to participants that will be settled in shares of the Company (PSUs and RSUs in thousands): Fiscal 2022 Fiscal 2021 Fiscal 2020 Number of shares Weighted average grant- date fair value Number of shares Weighted average grant- date fair value Number of shares Weighted average grant- date fair value PSUs and RSUs Unvested units at beginning of the year 7,022 $ 14.61 7,717 $ 13.39 10,280 $ 13.70 Granted (a) 3,475 21.96 3,546 15.59 4,468 12.79 Vested (b) (3,526) 13.56 (3,676) 13.30 (5,565) 14.12 Cancelled (c) (674) 19.12 (565) 15.05 (1,466) 10.97 Unvested units at the end of the year 6,297 $ 18.65 7,022 $ 14.61 7,717 $ 13.39 ________________________ (a) For fiscal 2022, includes 0.6 million target PSUs and 2.4 million RSUs granted and a payout adjustment of 0.5 million PSUs due to the actual performance level achieved for PSUs granted in fiscal 2019 that vested during fiscal 2022. For fiscal 2021, includes 0.8 million target PSUs and 2.4 million RSUs granted and a payout adjustment of 0.3 million PSUs due to the actual performance level achieved for PSUs granted in fiscal 2018 that vested during fiscal 2021. For fiscal 2020, includes 1.1 million target PSUs and 3.3 million RSUs granted and a payout adjustment of 0.1 million PSUs due to the actual performance level achieved for PSUs granted in fiscal 2019 that vested during fiscal 2020. (b) The fair value of PSUs and RSUs held by participants that vested during the fiscal years ended June 30, 2022, 2021 and 2020 was $48 million, $49 million and $79 million, respectively. (c) For fiscal 2022, includes 0.2 million of target PSUs and 0.5 million RSUs cancelled. For fiscal 2021, includes 0.3 million of target PSUs and 0.3 million RSUs cancelled.

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	12 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Computation of Basic and Diluted 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 fiscal years ended June 30, 2022 2021 2020 (in millions, except per share amounts) Net income (loss) $ 760 $ 389 $ (1,545) Less: Net (income) loss attributable to noncontrolling interests (137) (59) 276 Net income (loss) attributable to News Corporation stockholders $ 623 $ 330 $ (1,269) Weighted-average number of shares of common stock outstanding—basic 589.5 590.4 587.9 Dilutive effect of equity awards (a) 3.0 3.0 — Weighted-average number of shares of common stock outstanding—diluted 592.5 593.4 587.9 Net income (loss) attributable to News Corporation stockholders per share - basic $ 1.06 $ 0.56 $ (2.16) Net income (loss) attributable to News Corporation stockholders per share - diluted $ 1.05 $ 0.56 $ (2.16) ________________________ (a) The dilutive impact of the Company’s PSUs, RSUs and stock options has been excluded from the calculation of diluted loss per share for the fiscal year ended June 30, 2020 because their inclusion would have an antidilutive effect on the net loss per share.

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Jun. 30, 2022
Related Party Transactions [Abstract]
Schedule of Net Revenue from Related Parties	The following table sets forth the net revenue from related parties included in the Statements of Operations: For the fiscal years ended June 30, 2022 2021 2020 (in millions) Related party revenue (expense), net $ (10) $ (35) $ (69)
Schedule of Amount of Receivables Due from and Payable to Related Parties	The following table sets forth the amount of receivables due from and payables due to related parties outstanding on the Balance Sheets: As of June 30, 2022 2021 (in millions) Accounts receivable from related parties $ 14 $ 8 Accounts payable to related parties 10 2

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of Commitments by Fiscal Year Maturity	The following table summarizes the Company’s material firm commitments as of June 30, 2022: As of June 30, 2022 Payments Due by Period Total Less than 1 year 1-3 years 3-5 years More than 5 years (in millions) Purchase obligations (a) $ 930 $ 469 $ 328 $ 69 $ 64 Sports programming rights (b) 1,708 460 795 381 72 Programming costs (c) 568 262 272 30 4 Operating leases (d) Transmission costs (e) 170 26 46 35 63 Land and buildings 1,126 139 245 217 525 Plant and machinery 11 5 5 1 — Finance leases Transmission costs (e) 70 29 41 — — Borrowings (f) 3,027 271 683 483 1,590 Interest payments on borrowings (g) 710 118 206 177 209 Total commitments and contractual obligations $ 8,320 $ 1,779 $ 2,621 $ 1,393 $ 2,527 ________________________ (a) The Company has commitments under purchase obligations related to minimum subscriber guarantees for license fees, printing contracts, capital projects, marketing agreements, production services and other legally binding commitments. (b) The Company has sports programming rights commitments with the National Rugby League, Australian Football League and Cricket Australia, as well as certain other broadcast rights which are payable through fiscal 2028. (c) The Company has programming rights commitments with various suppliers for programming content. (d) The Company leases office facilities, warehouse facilities, printing plants, satellite services and equipment. These leases, which are classified as operating leases, are expected to be paid at certain dates through fiscal 2048. Amounts reflected represent only the Company’s lease obligations for which it has firm commitments. (e) The Company has contractual commitments for satellite transmission services. The Company’s satellite transponder services arrangements extend through fiscal 2032 and are accounted for as operating or finance leases, based on the underlying terms of those arrangements. (f) See Note 9—Borrowings. (g) Reflects the Company’s expected future interest payments based on borrowings outstanding and interest rates applicable at June 30, 2022. Such rates are subject to change in future periods. See Note 9—Borrowings.

Retirement Benefit Obligations

Retirement Benefit Obligations (Tables)	12 Months Ended
	Jun. 30, 2022
Retirement Benefits [Abstract]
Schedule of Amounts Recognized in Balance Sheets	The Company recognized these amounts in the Balance Sheets at June 30, 2022 and 2021 as follows: Pension Benefits Domestic Foreign Postretirement Total 2022 2021 2022 2021 2022 2021 2022 2021 (in millions) Other non-current assets $ — $ — $ 133 $ 120 $ — $ — $ 133 $ 120 Other current liabilities — (1) (2) (2) (8) (8) (10) (11) Retirement benefit obligations (40) (53) (55) (80) (60) (78) (155) (211) Net amount recognized $ (40) $ (54) $ 76 $ 38 $ (68) $ (86) $ (32) $ (102)
Schedule of Change in Projected Benefit Obligation, Change in Fair Value of Plan Assets and Funded Status	The following table sets forth the change in the projected benefit obligation, change in the fair value of the Company’s plan assets and funded status: Pension Benefits Domestic Foreign Postretirement Total As of June 30, 2022 2021 2022 2021 2022 2021 2022 2021 (in millions) Projected benefit obligation, beginning of the year $ 339 $ 353 $ 1,124 $ 1,051 $ 86 $ 109 $ 1,549 $ 1,513 Service cost — — 1 2 — — 1 2 Interest cost 7 7 17 16 1 2 25 25 Benefits paid (18) (18) (43) (45) (7) (8) (68) (71) Settlements (a) (12) (12) (12) (10) — — (24) (22) Actuarial (gain) loss (b) (56) 9 (216) (18) (11) (1) (283) (10) Foreign exchange rate changes — — (116) 128 (1) 1 (117) 129 Amendments, transfers and other — — — — — (17) — (17) Projected benefit obligation, end of the year 260 339 755 1,124 68 86 1,083 1,549 Change in the fair value of plan assets for the Company’s benefit plans: Fair value of plan assets, beginning of the year 285 258 1,162 1,061 — — 1,447 1,319 Actual return on plan assets (49) 36 (166) 12 — — (215) 48 Employer contributions 14 21 15 14 — — 29 35 Benefits paid (18) (18) (43) (45) — — (61) (63) Settlements (a) (12) (12) (12) (10) — — (24) (22) Foreign exchange rate changes — — (125) 130 — — (125) 130 Fair value of plan assets, end of the year 220 285 831 1,162 — — 1,051 1,447 Funded status $ (40) $ (54) $ 76 $ 38 $ (68) $ (86) $ (32) $ (102) ________________________ (a) Amounts related to payments made to former employees of the Company in full settlement of their pension benefits. (b) Actuarial gains for fiscal 2022 related to domestic and international pension plans and for fiscal 2021 related to international pension plans primarily relate to the increase in discount rates used in measuring plan obligations as of June 30, 2022 and 2021, respectively. Actuarial losses for fiscal 2021 related to domestic pension plans primarily relate to the decrease in discount rates used in measuring plan obligations as of June 30, 2021.
Schedule of Amounts Recognized in Accumulated Other Comprehensive Loss	Amounts recognized in Accumulated other comprehensive loss consist of: Pension Benefits Domestic Foreign Postretirement Total As of June 30, 2022 2021 2022 2021 2022 2021 2022 2021 (in millions) Actuarial losses (gains) $ 126 $ 130 $ 325 $ 403 $ (5) $ 6 $ 446 $ 539 Prior service cost (benefit) — — 7 9 (32) (36) (25) (27) Net amounts recognized $ 126 $ 130 $ 332 $ 412 $ (37) $ (30) $ 421 $ 512
Schedule of Accumulated and Projected Benefit Obligations and Fair Value of Plan Assets for Funded and Unfunded Pension Plans	Below is information about funded and unfunded pension plans: Domestic Pension Benefits Funded Plans Unfunded Plans Total As of June 30, 2022 2021 2022 2021 2022 2021 (in millions) Projected benefit obligation $ 253 $ 330 $ 7 $ 9 $ 260 $ 339 Accumulated benefit obligation 253 330 7 9 260 339 Fair value of plan assets 220 285 — — 220 285 Foreign Pension Benefits Funded Plans Unfunded Plans Total As of June 30, 2022 2021 2022 2021 2022 2021 (in millions) Projected benefit obligation $ 701 $ 1,043 $ 54 $ 81 $ 755 $ 1,124 Accumulated benefit obligation 697 1,037 54 81 751 1,118 Fair value of plan assets 831 1,162 — — 831 1,162
Schedule of Accumulated Benefit Obligation Exceeds Fair Value of Plan Assets	The accumulated benefit obligation exceeds the fair value of plan assets for all domestic pension plans. Below is information about foreign pension plans in which the accumulated benefit obligation exceeds the fair value of the plan assets: Foreign Pension Benefits Funded Plans Unfunded Plans Total As of June 30, 2022 2021 2022 2021 2022 2021 (in millions) Projected benefit obligation $ 49 $ 59 $ 54 $ 81 $ 103 $ 140 Accumulated benefit obligation 49 59 54 81 103 140 Fair value of plan assets 46 58 — — 46 58
Schedule of Components of Net Periodic Benefits Costs (Income)	The amortization of amounts related to unrecognized prior service costs (credits), deferred losses and settlements, curtailments and other were reclassified out of Other comprehensive income as a component of net periodic benefit costs. The components of net periodic benefit (income) costs were as follows: Pension Benefits Domestic Foreign Postretirement Benefits Total For the fiscal years ended June 30, 2022 2021 2020 2022 2021 2020 2022 2021 2020 2022 2021 2020 (in millions) Service cost benefits earned during the period $ — $ — $ — $ 1 $ 2 $ 2 $ — $ — $ — $ 1 $ 2 $ 2 Interest costs on projected benefit obligations 7 7 11 17 16 20 1 2 3 25 25 34 Expected return on plan assets (15) (13) (16) (36) (37) (43) — — — (51) (50) (59) Amortization of deferred losses 5 5 5 14 15 11 — — — 19 20 16 Amortization of prior service credits — — — — — — (4) (4) (3) (4) (4) (3) Settlements, curtailments and other 8 5 12 2 1 5 — — — 10 6 17 Net periodic benefit (income) costs – Total $ 5 $ 4 $ 12 $ (2) $ (3) $ (5) $ (3) $ (2) $ — $ — $ (1) $ 7
Schedule of Assumptions Used	Pension Benefits Domestic Foreign Postretirement Benefits For the fiscal years ended June 30, 2022 2021 2020 2022 2021 2020 2022 2021 2020 Additional information: Weighted-average assumptions used to determine benefit obligations Discount rate 4.9 % 2.9 % 2.9 % 3.9 % 1.9 % 1.7 % 4.6 % 2.4 % 2.5 % Rate of increase in future compensation N/A N/A N/A 3.9 % 3.6 % 3.1 % N/A N/A N/A Weighted-average assumptions used to determine net periodic benefit cost Discount rate for PBO 2.9 % 2.9 % 3.6 % 1.9 % 1.7 % 2.3 % 2.4 % 2.5 % 3.3 % Discount rate for Service Cost 3.3 % 3.4 % 3.9 % 1.8 % 1.8 % 2.5 % 2.8 % 2.9 % 3.6 % Discount rate for Interest on PBO 2.2 % 2.2 % 3.2 % 1.6 % 1.5 % 2.0 % 1.7 % 1.8 % 2.9 % Expected return on plan assets 5.8 % 5.5 % 6.0 % 3.3 % 3.3 % 4.2 % N/A N/A N/A Rate of increase in future compensation N/A N/A N/A 3.6 % 3.1 % 3.4 % N/A N/A N/A ________________________ N/A—not applicable
Schedule of Health Care Cost Trend Rates	The following assumed health care cost trend rates as of June 30 were also used in accounting for postretirement benefits: Postretirement benefits Fiscal 2022 Fiscal 2021 Health care cost trend rate 6.4 % 6.6 % Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) 4.5 % 4.7 % Year that the rate reaches the ultimate trend rate 2030 2030
Schedule of Expected Benefit Payments	The following table sets forth the estimated benefit payments for the next five fiscal years, and in aggregate for the five fiscal years thereafter. The expected benefits are estimated based on the same assumptions used to measure the Company’s benefit obligation at the end of the fiscal year and include benefits attributable to estimated future employee service: Expected Benefit Payments Pension Benefits Postretirement Total Domestic Foreign (in millions) Fiscal year: 2023 $ 21 $ 50 $ 8 $ 79 2024 20 47 7 74 2025 19 46 7 72 2026 19 44 6 69 2027 20 44 6 70 2028-2032 92 220 25 337
Schedule of Allocation of Plan Assets	The table below presents the Company’s plan assets by level within the fair value hierarchy, as described in Note 2—Summary of Significant Accounting Policies, as of June 30, 2022 and 2021: Fiscal 2022 Fiscal 2021 Fair Value Measurements at Fair Value Measurements at Total Level 1 Level 2 Level 3 NAV Total Level 1 Level 2 Level 3 NAV (in millions) Assets Pooled funds: (a) Domestic equity funds $ 37 $ — $ — $ — $ 37 $ 61 $ — $ — $ — $ 61 International equity funds 112 — — — 112 199 — — — 199 Domestic fixed income funds 106 — — — 106 144 — — — 144 International fixed income funds 666 — — — 666 882 — — — 882 Balanced funds 46 — 46 — — 67 — 67 — — Other 84 53 — 7 24 94 53 — 10 31 Total $ 1,051 $ 53 $ 46 $ 7 $ 945 $ 1,447 $ 53 $ 67 $ 10 $ 1,317 ________________________ (a) Open-ended pooled funds that are registered and/or available to the general public are valued at the daily published net asset value (“NAV”). Other pooled funds are valued at the NAV provided by the fund issuer.
Summary of Changes in Fair Value of Investments Reflected as Level 3 Assets	The table below sets forth a summary of changes in the fair value of investments reflected as Level 3 assets as of June 30, 2022 and 2021: Level 3 (in millions) Balance, June 30, 2020 $ 9 Actual return on plan assets: Relating to assets still held at end of period 1 Relating to assets sold during the period — Purchases, sales, settlements and issuances — Transfers in and out of Level 3 — Balance, June 30, 2021 $ 10 Actual return on plan assets: Relating to assets still held at end of period (2) Relating to assets sold during the period — Purchases, sales, settlements and issuances (1) Transfers in and out of Level 3 — Balance, June 30, 2022 $ 7
Schedule of Weighted-Average Asset Allocations, by Asset Category	The Company’s benefit plan weighted-average asset allocations, by asset category, are as follows: Pension Assets As of June 30, 2022 2021 Asset Category: Equity securities 15 % 19 % Debt securities 75 % 73 % Cash and other 10 % 8 % Total 100 % 100 %

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Schedule of (Loss) Income from Continuing Operations Before Income Tax Expense (Benefit) Attributable to Jurisdictions	Income (loss) before income tax expense was attributable to the following jurisdictions: For the fiscal years ended June 30, 2022 2021 2020 (in millions) U.S. $ 194 $ 266 $ (310) Foreign 618 184 (1,214) Income (loss) before income tax expense $ 812 $ 450 $ (1,524)
Schedule of Components of Income Tax Expense (Benefit)	The significant components of the Company’s income tax expense were as follows: For the fiscal years ended June 30, 2022 2021 2020 (in millions) Current: U.S. Federal $ — $ 5 $ (4) State & Local 9 9 3 Foreign 160 133 102 Total current tax 169 147 101 Deferred: U.S. Federal 54 (30) (45) State & Local 4 (1) (4) Foreign (175) (55) (31) Total deferred tax (117) (86) (80) Total income tax expense $ 52 $ 61 $ 21
Effective Income Tax Rate Reconciliation	The reconciliation between the Company’s actual effective tax rate and the statutory U.S. Federal income tax rate was as follows: For the fiscal years ended June 30, 2022 2021 2020 U.S. federal income tax rate 21 % 21 % 21 % State and local taxes, net 1 2 1 Effect of foreign operations (a) 7 12 (2) Change in valuation allowance (b) (19) (16) — Non-deductible goodwill and asset impairments (c) — 1 (22) Non-deductible compensation and benefits — 4 — Remeasurement of deferred tax assets (d) (2) (7) — R&D tax credits (1) (2) 1 Impact of dispositions (2) — — Other 1 (1) — Effective tax rate (e) 6 % 14 % (1) % ________________________ (a) The Company’s effective tax rate is impacted by the geographic mix of its pre-tax income. The Company’s foreign operations are located primarily in Australia and the United Kingdom (“U.K.”). Australia has a higher income tax rate than the U.S. and the U.K. has a lower tax rate than the U.S. (b) For the fiscal year ended June 30, 2022, the Company released valuation allowances of $156 million, including $149 million related to certain Foreign deferred tax assets. For the fiscal year ended June 30, 2021, the Company released $75 million of valuation allowances, including $64 million related to certain U.S. deferred tax assets. (c) For the fiscal year ended June 30, 2020, the Company recorded non-cash charges of $1,690 million related to the impairment of goodwill and indefinite-lived intangible assets, which reduced the Company’s tax expense by $262 million. These write-downs have an impact on our effective tax rate to the extent a lower tax benefit is recorded. (d) For the fiscal year ended June 30, 2022, the Company recorded a benefit of $18 million related to the remeasurement of its U.K. deferred tax assets. For the fiscal year ended June 30, 2021, the Company recorded a benefit of $34 million related to the remeasurement of its U.K. deferred tax assets which includes the enacted corporate income tax increase resulting from the Finance Act 2021. (e) For the fiscal years ended June 30, 2022 and 2021, the effective tax rates of 6% and 14%, respectively, represent income tax expense with regard to consolidated pre-tax book income. For the fiscal year ended June 30, 2020, the effective tax rate of (1)% represents income tax expense with regard to consolidated pre-tax book loss.
Summary of Recognized Deferred Income Taxes in Balance Sheets	The Company recognized deferred income taxes in the Balance Sheets as follows: As of June 30, 2022 2021 (in millions) Deferred income tax assets $ 422 $ 378 Deferred income tax liabilities (198) (260) Net deferred tax assets $ 224 $ 118
Schedule of Components of Deferred Tax Assets and Liabilities	The significant components of the Company’s deferred tax assets and liabilities were as follows: As of June 30, 2022 2021 (in millions) Deferred tax assets: Accrued liabilities $ 173 $ 169 Capital loss carryforwards 1,135 1,126 Retirement benefit obligations 24 34 Net operating loss carryforwards 408 484 Business tax credits 122 115 Operating lease liabilities 278 365 Other 151 153 Total deferred tax assets 2,291 2,446 Deferred tax liabilities: Asset basis difference and amortization (163) (161) Operating lease right-of-use asset (257) (339) Other (59) (63) Total deferred tax liabilities (479) (563) Net deferred tax asset before valuation allowance 1,812 1,883 Less: valuation allowance (See Note 22—Valuation and Qualifying Accounts) (1,588) (1,765) Net deferred tax assets $ 224 $ 118
Schedule of Income Tax Net Operating Loss Carryforwards (NOLs) (Gross, Net Uncertain Tax Benefits)	As of June 30, 2022, the Company had income tax net operating loss (“NOL”) carryforwards (gross, net of uncertain tax benefits) in various jurisdictions as follows: Jurisdiction Expiration Amount U.S. Federal 2023 to 2037 $ 149 U.S. Federal Indefinite 435 U.S. States Various 664 Australia Indefinite 365 U.K. Indefinite 12 Other Foreign Various 590
Change in Unrecognized Tax Benefits, Excluding Interest and Penalties	The following table sets forth the change in the Company’s unrecognized tax benefits, excluding interest and penalties: For the fiscal years ended June 30, 2022 2021 2020 (in millions) Balance, beginning of period $ 69 $ 63 $ 58 Additions for prior year tax positions — — 4 Additions for current year tax positions 28 4 8 Reduction for prior year tax positions (1) (2) (1) Lapse of the statute of limitations (3) (3) (3) Settlement—tax attributes — — (2) Impact of currency translations (7) 7 (1) Balance, end of period $ 86 $ 69 $ 63
Summary of Major Tax Jurisdictions and Fiscal Years Open to Examination	The following is a summary of major tax jurisdictions for which tax authorities may assert additional taxes based upon tax years currently under audit and subsequent years that could be audited by the respective taxing authorities. Jurisdiction Fiscal Years Open to Examination U.S. federal 2018-2021 U.S. states Various Australia 2018-2021 U.K. 2011-2021

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Reconciliation of Revenue and Segment EBITDA from Segments to Consolidated	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). For the fiscal years ended June 30, 2022 2021 2020 (in millions) Revenues: Digital Real Estate Services $ 1,741 $ 1,393 $ 1,065 Subscription Video Services 2,026 2,072 1,884 Dow Jones 2,004 1,702 1,590 Book Publishing 2,191 1,985 1,666 News Media 2,423 2,205 2,801 Other — 1 2 Total Revenues $ 10,385 $ 9,358 $ 9,008 Segment EBITDA: Digital Real Estate Services $ 574 $ 514 $ 345 Subscription Video Services 360 359 323 Dow Jones 433 332 236 Book Publishing 306 303 214 News Media 217 52 53 Other (221) (287) (158) Depreciation and amortization (688) (680) (644) Impairment and restructuring charges (109) (168) (1,830) Equity losses of affiliates (13) (65) (47) Interest expense, net (99) (53) (25) Other, net 52 143 9 Income (loss) before income tax expense 812 450 (1,524) Income tax expense (52) (61) (21) Net income (loss) $ 760 $ 389 $ (1,545)
Reconciliation of Depreciation and Amortization from Segments to Consolidated	For the fiscal years ended June 30, 2022 2021 2020 (in millions) Depreciation and amortization: Digital Real Estate Services $ 112 $ 101 $ 93 Subscription Video Services 321 332 283 Dow Jones 119 119 113 Book Publishing 49 36 33 News Media 79 84 115 Other 8 8 7 Total Depreciation and amortization $ 688 $ 680 $ 644 For the fiscal years ended June 30, 2022 2021 2020 (in millions) Capital expenditures: Digital Real Estate Services $ 109 $ 78 $ 80 Subscription Video Services 193 142 199 Dow Jones 77 62 59 Book Publishing 37 16 12 News Media 81 84 76 Other 2 8 12 Total Capital expenditures $ 499 $ 390 $ 438 As of June 30, 2022 2021 (in millions) Goodwill and intangible assets, net: Digital Real Estate Services $ 1,823 $ 1,871 Subscription Video Services 1,394 1,612 Dow Jones 3,346 1,995 Book Publishing 973 1,046 News Media 304 308 Other — — Total Goodwill and intangible assets, net $ 7,840 $ 6,832
Reconciliation of Assets from Segments to Consolidated	As of June 30, 2022 2021 (in millions) Total assets: Digital Real Estate Services $ 2,989 $ 3,146 Subscription Video Services 3,082 3,515 Dow Jones 4,368 2,798 Book Publishing 2,651 2,713 News Media 2,115 2,209 Other (a) 1,528 2,039 Investments 488 351 Total assets $ 17,221 $ 16,771 ________________________ (a) The Other segment primarily includes Cash and cash equivalents.
Revenue and Long-Lived Assets by Geographic Region	Geographic Segments For the fiscal years ended June 30, 2022 2021 2020 (in millions) Revenues: (a) U.S. and Canada (b) $ 4,097 $ 3,550 $ 3,763 Europe (c) 1,808 1,672 1,502 Australasia and Other (d) 4,480 4,136 3,743 Total Revenues $ 10,385 $ 9,358 $ 9,008 ________________________ (a) Revenues are attributed to region based on location of customer. (b) Revenues include approximately $4.0 billion for fiscal 2022, $3.5 billion for fiscal 2021 and $3.7 billion for fiscal 2020 from customers in the U.S. (c) Revenues include approximately $1.4 billion for fiscal 2022, $1.3 billion for fiscal 2021 and $1.2 billion for fiscal 2020 from customers in the U.K. (d) Revenues include approximately $4.2 billion for fiscal 2022, $3.9 billion for fiscal 2021 and $3.5 billion for fiscal 2020 from customers in Australia. As of June 30, 2022 2021 (in millions) Long-lived assets: (a) U.S. and Canada $ 1,513 $ 1,429 Europe 774 887 Australasia and Other 2,091 2,438 Total long-lived assets $ 4,378 $ 4,754 ________________________ (a) Reflects total assets less current assets, goodwill, intangible assets, investments and deferred income tax assets.

Additional Financial Informat_2

Additional Financial Information (Tables)	12 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Components of Other Non-Current Assets	The following table sets forth the components of Other non-current assets included in the Balance Sheets: As of June 30, 2022 2021 (in millions) Royalty advances to authors $ 403 $ 406 Retirement benefit assets 133 120 Inventory (a) 268 279 News America Marketing deferred consideration 142 128 Other 438 514 Total Other non-current assets $ 1,384 $ 1,447 ________________________ (a) Primarily consists of the non-current portion of programming rights.
Components of Other Current Liabilities	The following table sets forth the components of Other current liabilities: As of June 30, 2022 2021 (in millions) Royalties and commissions payable $ 215 $ 206 Current operating lease liabilities 139 143 Allowance for sales returns 173 190 Current tax payable 18 30 Other 430 504 Total Other current liabilities $ 975 $ 1,073
Components of Other, Net Included in Statements of Operations	The following table sets forth the components of Other, net included in the Statements of Operations: For the fiscal years ended June 30, 2022 2021 2020 (in millions) Remeasurement of equity securities $ (59) $ 81 $ (21) Dividends received from equity security investments 20 9 3 Gain on sale of businesses (a) 98 18 20 Gain on remeasurement of previously-held interest (b) 3 7 — Gain on dilution of PropertyGuru investment (c) 15 — — Other (25) 28 7 Total Other, net $ 52 $ 143 $ 9 ________________________ (a) During the fiscal year ended June 30, 2022, REA Group acquired an 18% interest in PropertyGuru in exchange for all shares of REA Group’s entities in Malaysia and Thailand. The Company recognized a gain of $107 million on the disposition of such entities. During the fiscal year ended June 30, 2021, Move sold the assets associated with its Top Producer professional software and service product and recognized an $18 million gain on the sale. During the fiscal year ended June 30, 2020, REA Group contributed its businesses located in Singapore and Indonesia to a 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. (b) Relates to the acquisition of REA India in the fiscal year ended June 30, 2021. (c) During the fiscal year ended June 30, 2022, PropertyGuru completed its merger with Bridgetown 2 Holdings Limited. REA Group recognized a gain of approximately $15 million resulting from its ownership dilution in the transaction. At June 30, 2022, REA Group held an ownership interest of 17.5% in PropertyGuru.
Summary of Supplemental Cash Flow Information	The following table sets forth the Company’s gross cash paid for taxes and interest: For the fiscal years ended June 30, 2022 2021 2020 (in millions) Cash paid for interest $ 96 $ 55 $ 61 Cash paid for taxes 180 176 99
Components of Accumulated Other Comprehensive Loss	The components of Accumulated other comprehensive loss were as follows: For the fiscal years ended June 30, 2022 2021 2020 (in millions) Accumulated other comprehensive loss, net of tax: Cash flow hedge adjustments: Balance, beginning of year — 2 6 Fiscal year activity (a) 21 (2) (4) Balance, end of year 21 — 2 Benefit Plan Adjustments: Balance, beginning of year (392) (394) (352) Fiscal year activity (b) 71 2 (42) Balance, end of year (321) (392) (394) Foreign currency translation adjustments: Balance, beginning of year (549) (939) (780) Fiscal year activity (421) 390 (159) Balance, end of year (970) (549) (939) Total accumulated other comprehensive loss, net of tax: Balance, beginning of year (941) (1,331) (1,126) Fiscal year activity, net of income taxes (c) (329) 390 (205) Balance, end of year $ (1,270) $ (941) $ (1,331) ________________________ (a) Net of income tax expense (benefit) of $7 million, nil and $(3) million for the fiscal years ended June 30, 2022, 2021 and 2020 respectively. (b) Net of income tax expense (benefit) of $19 million, $(1) million and $(11) million for the fiscal years ended June 30, 2022, 2021 and 2020, respectively. (c) Excludes $(97) million, $78 million and $(43) million relating to noncontrolling interests for the fiscal years ended June 30, 2022, 2021 and 2020, respectively.

Valuation and Qualifying Acco_2

Valuation and Qualifying Accounts (Tables)	12 Months Ended
	Jun. 30, 2022
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Schedule of Valuation and Qualifying Accounts	Balance at beginning of year Additions Acquisitions and disposals Utilization Foreign exchange Balance at end of year (in millions) Fiscal 2022 Allowances for doubtful accounts $ (71) $ (6) $ — $ 7 $ 3 $ (67) Allowances for sales returns (190) (554) (1) 564 8 (173) Deferred tax valuation allowance (1,765) (237) (8) 232 190 (1,588) Fiscal 2021 Allowances for doubtful accounts $ (73) $ (5) $ (3) $ 15 $ (5) $ (71) Allowances for sales returns (174) (514) (8) 511 (5) (190) Deferred tax valuation allowance (1,546) (180) 10 100 (149) (1,765) Fiscal 2020 Allowances for doubtful accounts $ (46) $ (34) $ (9) $ 16 $ — $ (73) Allowances for sales returns (192) (539) (1) 557 1 (174) Deferred tax valuation allowance (1,468) (104) (1) (4) 31 (1,546)

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Significant Accounting Policies [Line Items]
Cash and cash equivalents	$ 1,822	$ 2,236
Restricted cash	0	0
Advertising and promotional expenses	596	550	$ 525
Undistributed earnings of foreign subsidiaries, indefinitely reinvested	900
Amortization expense of amortizable intangible assets	140	112	108
2023	163
2024	154
2025	151
Stockholders' equity	9,143	9,146	8,389	$ 10,311
Retained Earnings
Significant Accounting Policies [Line Items]
Stockholders' equity	(2,293)	(2,911)	(3,241)	(1,979)
Accumulated Other Comprehensive Loss
Significant Accounting Policies [Line Items]
Stockholders' equity	(1,270)	(941)	$ (1,331)	(1,126)
Cumulative Effect, Period of Adoption, Adjustment
Significant Accounting Policies [Line Items]
Stockholders' equity				9
Cumulative Effect, Period of Adoption, Adjustment | Retained Earnings
Significant Accounting Policies [Line Items]
Stockholders' equity				6
Cumulative Effect, Period of Adoption, Adjustment | Accumulated Other Comprehensive Loss
Significant Accounting Policies [Line Items]
Stockholders' equity				3
Accounting Standards Update 2017-12 | Cumulative Effect, Period of Adoption, Adjustment | Retained Earnings
Significant Accounting Policies [Line Items]
Stockholders' equity				(5)
Accounting Standards Update 2017-12 | Cumulative Effect, Period of Adoption, Adjustment | Accumulated Other Comprehensive Loss
Significant Accounting Policies [Line Items]
Stockholders' equity				$ 5
Programming rights
Significant Accounting Policies [Line Items]
Amortization expense of amortizable intangible assets	281
2023	147
2024	58
2025	$ 19
Maximum
Significant Accounting Policies [Line Items]
Interest owned to exercise significant influence	50%
Property, plant and equipment, useful life	50 years
Unearned advances write-off period	24 months
Minimum
Significant Accounting Policies [Line Items]
Interest owned to exercise significant influence	20%
Property, plant and equipment, useful life	2 years
Unearned advances write-off period	12 months
Capitalized software | Maximum
Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life	15 years
Capitalized software | Minimum
Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life	2 years
REA Group
Significant Accounting Policies [Line Items]
Cash and cash equivalents	$ 169	$ 128

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Components of Receivables, Net (Detail) - USD ($) $ in Millions	Jun. 30, 2022	Jun. 30, 2021
Accounting Policies [Abstract]
Receivables	$ 1,569	$ 1,569
Less: allowances	(67)	(71)
Receivables, net	$ 1,502	$ 1,498

Revenues - Additional Informati

Revenues - Additional Information (Detail) $ in Millions	12 Months Ended
	Jun. 30, 2022 USD ($)
Revenue from Contract with Customer [Abstract]
Revenue from performance obligation	$ 395

Revenues - Summary of Disaggreg

Revenues - Summary of Disaggregated Revenue by Type and by Segment (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Revenues	$ 10,385	$ 9,358	$ 9,008
Circulation and subscription
Disaggregation of Revenue [Line Items]
Revenues	4,425	4,206	3,857
Advertising
Disaggregation of Revenue [Line Items]
Revenues	1,821	1,594	2,193
Consumer
Disaggregation of Revenue [Line Items]
Revenues	2,106	1,908	1,593
Real estate
Disaggregation of Revenue [Line Items]
Revenues	1,347	1,153	862
Other
Disaggregation of Revenue [Line Items]
Revenues	686	497	503
Digital Real Estate Services
Disaggregation of Revenue [Line Items]
Revenues	1,741	1,393	1,065
Digital Real Estate Services | Circulation and subscription
Disaggregation of Revenue [Line Items]
Revenues	13	25	36
Digital Real Estate Services | Advertising
Disaggregation of Revenue [Line Items]
Revenues	135	126	98
Digital Real Estate Services | Consumer
Disaggregation of Revenue [Line Items]
Revenues	0	0	0
Digital Real Estate Services | Real estate
Disaggregation of Revenue [Line Items]
Revenues	1,347	1,153	862
Digital Real Estate Services | Other
Disaggregation of Revenue [Line Items]
Revenues	246	89	69
Subscription Video Services
Disaggregation of Revenue [Line Items]
Revenues	2,026	2,072	1,884
Subscription Video Services | Circulation and subscription
Disaggregation of Revenue [Line Items]
Revenues	1,753	1,825	1,673
Subscription Video Services | Advertising
Disaggregation of Revenue [Line Items]
Revenues	232	210	174
Subscription Video Services | Consumer
Disaggregation of Revenue [Line Items]
Revenues	0	0	0
Subscription Video Services | Real estate
Disaggregation of Revenue [Line Items]
Revenues	0	0	0
Subscription Video Services | Other
Disaggregation of Revenue [Line Items]
Revenues	41	37	37
Dow Jones
Disaggregation of Revenue [Line Items]
Revenues	2,004	1,702	1,590
Dow Jones | Circulation and subscription
Disaggregation of Revenue [Line Items]
Revenues	1,516	1,296	1,191
Dow Jones | Advertising
Disaggregation of Revenue [Line Items]
Revenues	449	373	359
Dow Jones | Consumer
Disaggregation of Revenue [Line Items]
Revenues	0	0	0
Dow Jones | Real estate
Disaggregation of Revenue [Line Items]
Revenues	0	0	0
Dow Jones | Other
Disaggregation of Revenue [Line Items]
Revenues	39	33	40
Book Publishing
Disaggregation of Revenue [Line Items]
Revenues	2,191	1,985	1,666
Book Publishing | Circulation and subscription
Disaggregation of Revenue [Line Items]
Revenues	0	0	0
Book Publishing | Advertising
Disaggregation of Revenue [Line Items]
Revenues	0	0	0
Book Publishing | Consumer
Disaggregation of Revenue [Line Items]
Revenues	2,106	1,908	1,593
Book Publishing | Real estate
Disaggregation of Revenue [Line Items]
Revenues	0	0	0
Book Publishing | Other
Disaggregation of Revenue [Line Items]
Revenues	85	77	73
News Media
Disaggregation of Revenue [Line Items]
Revenues	2,423	2,205	2,801
News Media | Circulation and subscription
Disaggregation of Revenue [Line Items]
Revenues	1,143	1,060	956
News Media | Advertising
Disaggregation of Revenue [Line Items]
Revenues	1,005	885	1,562
News Media | Consumer
Disaggregation of Revenue [Line Items]
Revenues	0	0	0
News Media | Real estate
Disaggregation of Revenue [Line Items]
Revenues	0	0	0
News Media | Other
Disaggregation of Revenue [Line Items]
Revenues	275	260	283
Other
Disaggregation of Revenue [Line Items]
Revenues	0	1	2
Other | Circulation and subscription
Disaggregation of Revenue [Line Items]
Revenues	0	0	1
Other | Advertising
Disaggregation of Revenue [Line Items]
Revenues	0	0	0
Other | Consumer
Disaggregation of Revenue [Line Items]
Revenues	0	0	0
Other | Real estate
Disaggregation of Revenue [Line Items]
Revenues	0	0	0
Other | Other
Disaggregation of Revenue [Line Items]
Revenues	$ 0	$ 1	$ 1

Revenues - Summary of Deferred

Revenues - Summary of Deferred Revenue from Contract with Customers (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	May 31, 2021
Contract with Customer, Liability [Roll Forward]
Balance, beginning of period	$ 473	$ 398
Deferral of revenue	3,558	3,152
Recognition of deferred revenue	(3,477)	(3,109)
Other	50	32
Balance, end of period	604	473
Oil Price Information Service and Chemical Market Analytics
Disaggregation of Revenue [Line Items]
Deferred revenue	68
Investor's Business Daily
Disaggregation of Revenue [Line Items]
Deferred revenue		16	$ 16
Deferred Revenue
Disaggregation of Revenue [Line Items]
Recognition of deferred revenue	$ 435	$ 381

Revenues - Practical expedients

Revenues - Practical expedients and other revenue disclosures (Detail) $ in Millions	Jun. 30, 2022 USD ($)
Disaggregation of Revenue [Line Items]
Revenue from remaining performance obligation	$ 1,210
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01
Disaggregation of Revenue [Line Items]
Revenue from remaining performance obligation	$ 406
Expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Disaggregation of Revenue [Line Items]
Revenue from remaining performance obligation	$ 305
Expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Disaggregation of Revenue [Line Items]
Revenue from remaining performance obligation	$ 142
Expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-07-01
Disaggregation of Revenue [Line Items]
Expected timing of satisfaction

Acquisitions, Disposals and O_3

Acquisitions, Disposals and Other Transactions - Additional Information (Detail) $ in Millions, $ in Millions

1 Months Ended

12 Months Ended

May 05, 2020 USD ($)

Jun. 30, 2022 USD ($)

Feb. 28, 2022 USD ($)

Aug. 10, 2021

Jun. 30, 2021 USD ($)

Jun. 30, 2021 AUD ($)

May 31, 2021 USD ($)

Dec. 31, 2020 USD ($)

Jan. 31, 2020 GBP (£)

Jun. 30, 2022 USD ($)

Jun. 30, 2021 USD ($)

Jun. 30, 2020 USD ($)

Sep. 30, 2021

Aug. 31, 2021 board_member

Jun. 30, 2021 AUD ($)

Nov. 30, 2020

Schedule Of Business Acquisitions And Divestitures [Line Items]

Goodwill

$ 5,169

$ 4,653

$ 5,169

$ 4,653

$ 3,951

Consideration transferred

1,501

886

32

Previously held equity interest

$ 15

(Loss) income before income tax expense

$ 812

450

(1,524)

ReaGroup Limited

Schedule Of Business Acquisitions And Divestitures [Line Items]

Dilution of ownership interest

0.20%

Ownership percentage after all transactions

61.40%

REA Group | PropertyGuru Pte. Ltd.

Schedule Of Business Acquisitions And Divestitures [Line Items]

Ownership percentage

18%

18%

18%

Equity method investment, diluted ownership percentage

17.50%

17.50%

16.60%

Nonoperating Income (Expense)

Schedule Of Business Acquisitions And Divestitures [Line Items]

Gain on dilution of equity interests

$ 15

0

0

Business acquisition recognized gain resulting from remeasurement of previously held equity interest

$ 7

3

7

$ 0

Nonoperating Income (Expense) | REA Group | PropertyGuru Pte. Ltd.

Schedule Of Business Acquisitions And Divestitures [Line Items]

Gain on dilution of equity interests

$ 15

Elara

Schedule Of Business Acquisitions And Divestitures [Line Items]

Business acquisition purchase price allocation, amortizable and indefinite-lived intangible assets

31

Business acquisition purchase price allocation, amortizable intangible assets

19

Goodwill

$ 113

Ownership percentage

26.60%

Increase in equity interest in acquiree

39%

22.10%

Tangible liabilities

$ 5

Elara | Trade Names

Schedule Of Business Acquisitions And Divestitures [Line Items]

Business acquisition purchase price allocation, indefinite-lived intangible assets

$ 12

Elara | ReaGroup Limited

Schedule Of Business Acquisitions And Divestitures [Line Items]

Increase in equity interest in acquiree

0.80%

PropertyGuru Pte. Ltd. | REA Group

Schedule Of Business Acquisitions And Divestitures [Line Items]

Equity method investment, diluted ownership percentage

17.50%

17.50%

PropertyGuru Pte. Ltd. | Other, net | REA Group

Schedule Of Business Acquisitions And Divestitures [Line Items]

Gain on dilution of equity interests

$ 15

99.co | REA Group

Schedule Of Business Acquisitions And Divestitures [Line Items]

Ownership percentage

27%

Number of Board Director's seats acquired | board_member

1

Maximum

Schedule Of Business Acquisitions And Divestitures [Line Items]

Ownership percentage

50%

50%

Minimum

Schedule Of Business Acquisitions And Divestitures [Line Items]

Ownership percentage

20%

20%

News America Marketing

Schedule Of Business Acquisitions And Divestitures [Line Items]

Cash consideration receivable

$ 235

Cash at closing

$ 50

(Loss) income before income tax expense

(416)

News America Marketing | Common Stock

Schedule Of Business Acquisitions And Divestitures [Line Items]

Ownership interest after disposal

5%

News America Marketing | Warrant

Schedule Of Business Acquisitions And Divestitures [Line Items]

Warrant to purchase ownership interest

10%

News America Marketing | Maximum

Schedule Of Business Acquisitions And Divestitures [Line Items]

Deferred cash payments

$ 185

News America Marketing | Minimum

Schedule Of Business Acquisitions And Divestitures [Line Items]

Deferred cash payments

$ 125

Unruly

Schedule Of Business Acquisitions And Divestitures [Line Items]

Ownership percentage

7%

Lock up period

18 months

Commercial arrangement period

3 years

Total minimum revenue guarantee | £

£ 30,000,000

OPIS

Schedule Of Business Acquisitions And Divestitures [Line Items]

Consideration transferred

$ 1,150

Deferred revenue

1

Business acquisition purchase price allocation, amortizable and indefinite-lived intangible assets

620

Goodwill

536

OPIS | Trade Names

Schedule Of Business Acquisitions And Divestitures [Line Items]

Business acquisition purchase price allocation, indefinite-lived intangible assets

48

Base Chemicals

Schedule Of Business Acquisitions And Divestitures [Line Items]

Deferred revenue

$ 22

$ 22

Business acquisition purchase price allocation, amortizable and indefinite-lived intangible assets

189

189

Goodwill

121

121

Business acquisition, cost of acquired entity, cash paid

295

UpNest, Inc.

Schedule Of Business Acquisitions And Divestitures [Line Items]

Goodwill

40

40

Consideration transferred

45

Contingent consideration liability

$ 15

15

Performance objective period

2 years

Contingent liability

$ 8

8

Post-closing claims

9

Avail

Schedule Of Business Acquisitions And Divestitures [Line Items]

Goodwill

$ 32

Business acquisition, cost of acquired entity, cash paid

36

Contingent consideration

8

Contingent consideration liability

$ 4

Performance objective period

3 years

Cash acquired

$ 4

Post-closing claims

6

Elara

Schedule Of Business Acquisitions And Divestitures [Line Items]

Consideration transferred

138

Business acquisition, cost of acquired entity, cash paid

69

Previously held equity interest

22

Minority interest value

$ 37

Elara | ReaGroup Limited

Schedule Of Business Acquisitions And Divestitures [Line Items]

Equity interest in acquiree

59.70%

Ownership percentage after all transactions

73.30%

Elara | Elara | ReaGroup Limited

Schedule Of Business Acquisitions And Divestitures [Line Items]

Equity interest in acquiree

13.50%

Investor's Business Daily

Schedule Of Business Acquisitions And Divestitures [Line Items]

Consideration transferred

$ 275

Deferred revenue

16

16

16

Business acquisition purchase price allocation, amortizable and indefinite-lived intangible assets

123

Business acquisition purchase price allocation, indefinite-lived intangible assets

51

Goodwill

166

HMH Books and Media

Schedule Of Business Acquisitions And Divestitures [Line Items]

Business acquisition purchase price allocation, amortizable and indefinite-lived intangible assets

141

Goodwill

125

Business acquisition, cost of acquired entity, cash paid

349

Business combination purchase price allocation, receivables

83

Mortgage Choice | REA Group

Schedule Of Business Acquisitions And Divestitures [Line Items]

Business acquisition purchase price allocation, amortizable and indefinite-lived intangible assets

56

56

$ 74

Business acquisition purchase price allocation, indefinite-lived intangible assets

8

8

11

Goodwill

76

76

100

Business acquisition, cost of acquired entity, cash paid

183

$ 244

Net assets acquired

53

53

70

Subscriber Relationships | Investor's Business Daily

Schedule Of Business Acquisitions And Divestitures [Line Items]

Business acquisition purchase price allocation, amortizable intangible assets

$ 43

Finite lived intangible assets, weighted average useful life

7 years

Technology | Elara

Schedule Of Business Acquisitions And Divestitures [Line Items]

Finite lived intangible assets, weighted average useful life

5 years

Technology | OPIS

Schedule Of Business Acquisitions And Divestitures [Line Items]

Business acquisition purchase price allocation, amortizable intangible assets

$ 38

Finite lived intangible assets, weighted average useful life

6 years

Technology | Base Chemicals

Schedule Of Business Acquisitions And Divestitures [Line Items]

Business acquisition purchase price allocation, amortizable intangible assets

$ 31

31

Finite lived intangible assets, weighted average useful life

14 years

Technology | Avail

Schedule Of Business Acquisitions And Divestitures [Line Items]

Business acquisition purchase price allocation, amortizable intangible assets

$ 7

Finite lived intangible assets, weighted average useful life

5 years

Technology | Investor's Business Daily

Schedule Of Business Acquisitions And Divestitures [Line Items]

Business acquisition purchase price allocation, amortizable intangible assets

$ 20

Finite lived intangible assets, weighted average useful life

7 years

Backlist Titles | HMH Books and Media

Schedule Of Business Acquisitions And Divestitures [Line Items]

Business acquisition purchase price allocation, amortizable intangible assets

$ 104

Finite lived intangible assets, weighted average useful life

9 years

Publishing Licenses | HMH Books and Media

Schedule Of Business Acquisitions And Divestitures [Line Items]

Business acquisition purchase price allocation, amortizable intangible assets

$ 32

Finite lived intangible assets, weighted average useful life

9 years

Computer Software | Mortgage Choice | REA Group

Schedule Of Business Acquisitions And Divestitures [Line Items]

Business acquisition purchase price allocation, amortizable intangible assets

$ 13

13

17

Computer Software | Mortgage Choice | Maximum | REA Group

Schedule Of Business Acquisitions And Divestitures [Line Items]

Finite lived intangible assets, weighted average useful life

5 years

5 years

Computer Software | Mortgage Choice | Minimum | REA Group

Schedule Of Business Acquisitions And Divestitures [Line Items]

Finite lived intangible assets, weighted average useful life

1 year

1 year

Customer Relationships | OPIS

Schedule Of Business Acquisitions And Divestitures [Line Items]

Business acquisition purchase price allocation, amortizable intangible assets

$ 528

Finite lived intangible assets, weighted average useful life

20 years

Customer Relationships | Base Chemicals

Schedule Of Business Acquisitions And Divestitures [Line Items]

Business acquisition purchase price allocation, amortizable intangible assets

$ 145

145

Finite lived intangible assets, weighted average useful life

20 years

Franchise Rights | Mortgage Choice | REA Group

Schedule Of Business Acquisitions And Divestitures [Line Items]

Business acquisition purchase price allocation, amortizable intangible assets

$ 35

$ 35

$ 46

Finite lived intangible assets, weighted average useful life

17 years

17 years

Trade Names | OPIS

Schedule Of Business Acquisitions And Divestitures [Line Items]

Business acquisition purchase price allocation, indefinite-lived intangible assets

$ 54

Trade Names | Base Chemicals

Schedule Of Business Acquisitions And Divestitures [Line Items]

Business acquisition purchase price allocation, amortizable intangible assets

$ 13

13

Finite lived intangible assets, weighted average useful life

20 years

Customer Relationship and Technology Platforms | UpNest, Inc.

Schedule Of Business Acquisitions And Divestitures [Line Items]

Business acquisition purchase price allocation, amortizable intangible assets

$ 16

$ 16

Acquisitions, Disposals and O_4

Acquisitions, Disposals and Other Transactions - Assets and Liabilities Disposed of (Details) - USD ($) $ in Millions	1 Months Ended
	Jun. 30, 2022	May 05, 2020
UpNest, Inc.
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Post-closing claims	$ 9
News America Marketing
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Receivables, net		$ 214
Other current assets		26
Intangible assets, net		225
Other non-current assets		29
Impairment charge on disposal group		(175)
Total assets		319
Accounts payable		33
Accrued expenses		65
Deferred revenue		51
Other current liabilities		46
Other non-current liabilities		7
Total liabilities		$ 202

Restructuring Programs - Additi

Restructuring Programs - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 94	$ 168	$ 140
News Media
Restructuring Cost and Reserve [Line Items]
Restructuring charges	34	122	$ 84
Other Current Liabilities
Restructuring Cost and Reserve [Line Items]
Restructuring liabilities, current	42	58
Other Non-Current Liabilities
Restructuring Cost and Reserve [Line Items]
Restructuring liabilities, non-current	$ 24	$ 28

Restructuring Programs - Schedu

Restructuring Programs - Schedule of Changes in Restructuring Program Liabilities (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Restructuring Reserve [Roll Forward]
Restructuring Liabilities, Beginning Balance	$ 86	$ 73	$ 40
Additions	94	168	140
Payments	(111)	(152)	(110)
Other	(3)	(3)	3
Restructuring Liabilities, Ending Balance	66	86	73
One-time employee termination benefits
Restructuring Reserve [Roll Forward]
Restructuring Liabilities, Beginning Balance	51	64	28
Additions	69	83	140
Payments	(92)	(97)	(109)
Other	(3)	1	5
Restructuring Liabilities, Ending Balance	25	51	64
Facility related costs
Restructuring Reserve [Roll Forward]
Restructuring Liabilities, Beginning Balance	0	0	2
Additions	0	0	0
Payments	0	0	0
Other	0	0	(2)
Restructuring Liabilities, Ending Balance	0	0	0
Other costs
Restructuring Reserve [Roll Forward]
Restructuring Liabilities, Beginning Balance	35	9	10
Additions	25	85	0
Payments	(19)	(55)	(1)
Other	0	(4)	0
Restructuring Liabilities, Ending Balance	$ 41	$ 35	$ 9

Investments - Schedule of Inves

Investments - Schedule of Investments (Detail) - USD ($) $ in Millions	Jun. 30, 2022	Sep. 30, 2021	Jun. 30, 2021
Schedule of Investments [Abstract]
Equity method investments	$ 276		$ 71
Equity securities	212		280
Total Investments	$ 488		$ 351
PropertyGuru Pte. Ltd. | REA Group
Schedule of Equity Method Investments [Line Items]
Ownership percentage	18%	18%
Equity method investment, diluted ownership percentage	17.50%	16.60%

Investments - Schedule of Total

Investments - Schedule of Total Gains and Losses on Equity Securities (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Schedule of Investments [Abstract]
Total (losses) gains recognized on equity securities	$ (59)	$ 81	$ (21)
Less: Net losses recognized on equity securities sold or impaired	0	(1)	0
Unrealized (losses) gains recognized on equity securities held at end of period	$ (59)	$ 82	$ (21)

Investments - Additional Inform

Investments - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Schedule of Equity Method Investments [Line Items]
Equity losses of affiliates	$ (13)	$ (65)	$ (47)
Other Equity Affiliates, Net
Schedule of Equity Method Investments [Line Items]
Equity losses of affiliates	$ (13)	(65)	(47)
Impairments of investment		$ 54	$ 32

Property, Plant and Equipment -

Property, Plant and Equipment - Components of Property, Plant and Equipment (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Property, Plant and Equipment [Line Items]
Land	$ 120	$ 131
Buildings and leaseholds	1,478	1,692
Digital set top units and installations	1,109	1,151
Machinery and equipment	1,278	1,809
Capitalized software	1,707	1,632
Finance lease right-of-use assets	124	138
Property, plant and equipment, gross	5,816	6,553
Less: accumulated depreciation and amortization	(3,933)	(4,460)
Property plant and equipment, before construction in progress	1,883	2,093
Construction in progress	220	179
Total Property, plant and equipment, net	2,103	2,272
Accumulated amortization of capitalized software	$ 1,135	$ 1,100
Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	2 years
Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	50 years
Buildings and leaseholds | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	3 years
Buildings and leaseholds | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	50 years
Digital set top units and installations | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	5 years
Digital set top units and installations | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	10 years
Machinery and equipment | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	2 years
Machinery and equipment | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	20 years
Capitalized software | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	2 years
Capitalized software | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	15 years
Finance lease right-of-use assets
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	15 years

Property, Plant and Equipment_2

Property, Plant and Equipment - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Property, Plant and Equipment [Line Items]
Depreciation related to property, plant and equipment		$ 548	$ 568	$ 537
Amortization of capitalized software		263	250	231
Non-cash impairment charge		15	$ 0	1,690
Dow Jones
Property, Plant and Equipment [Line Items]
Non-cash impairment charge		$ 15
News UK and News Corp Australia
Property, Plant and Equipment [Line Items]
Fixed-asset impairment charges	$ 203
News Corp UK
Property, Plant and Equipment [Line Items]
Discount rates			9.50%
Long-term growth rates			(1.00%)
News Corp Australia
Property, Plant and Equipment [Line Items]
Discount rates			11.50%
Long-term growth rates			0%
Print Sites, Printing Presses, Print Related Equipment and Capitalized Software | United Kingdom Newspapers
Property, Plant and Equipment [Line Items]
Non-cash impairment charge				148
Print Sites, Printing Presses, Print Related Equipment and Capitalized Software | Australian Newspapers
Property, Plant and Equipment [Line Items]
Non-cash impairment charge				$ 55

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Schedule of Carrying Values of Intangible Assets and Related Accumulated Amortization (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Intangible Assets Not Subject to Amortization
Total intangible assets not subject to amortization	$ 1,028	$ 1,057
Intangible Assets Subject to Amortization
Total intangible assets subject to amortization	1,643	1,122
Total Intangible assets, net	2,671	2,179
Trademarks and tradenames
Intangible Assets Not Subject to Amortization
Total intangible assets not subject to amortization	411	389
Newspaper mastheads
Intangible Assets Not Subject to Amortization
Total intangible assets not subject to amortization	281	282
Imprints
Intangible Assets Not Subject to Amortization
Total intangible assets not subject to amortization	218	250
Radio broadcast licenses
Intangible Assets Not Subject to Amortization
Total intangible assets not subject to amortization	118	136
Publishing Rights
Intangible Assets Subject to Amortization
Total intangible assets subject to amortization	348	383
Finite lived intangible assets, accumulated amortization	$ 306	275
Publishing Rights | Minimum
Intangible Assets Subject to Amortization
Finite lived intangible asset useful life	3 years
Publishing Rights | Maximum
Intangible Assets Subject to Amortization
Finite lived intangible asset useful life	30 years
Customer Relationships
Intangible Assets Subject to Amortization
Total intangible assets subject to amortization	$ 1,233	697
Finite lived intangible assets, accumulated amortization	$ 759	693
Customer Relationships | Minimum
Intangible Assets Subject to Amortization
Finite lived intangible asset useful life	3 years
Customer Relationships | Maximum
Intangible Assets Subject to Amortization
Finite lived intangible asset useful life	25 years
Other
Intangible Assets Subject to Amortization
Total intangible assets subject to amortization	$ 62	42
Finite lived intangible assets, accumulated amortization	$ 85	$ 81
Other | Minimum
Intangible Assets Subject to Amortization
Finite lived intangible asset useful life	3 years
Other | Maximum
Intangible Assets Subject to Amortization
Finite lived intangible asset useful life	15 years

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Schedule of Changes in Carrying Value of Goodwill, by Segment (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 4,653	$ 3,951
Acquisitions	738	514
Dispositions		(1)
Foreign exchange and other	(222)	189
Goodwill, ending balance	5,169	4,653
Digital Real Estate Services
Goodwill [Roll Forward]
Goodwill, beginning balance	1,617	1,333
Acquisitions	39	224
Dispositions		0
Foreign exchange and other	(95)	60
Goodwill, ending balance	1,561	1,617
Subscription Video Services
Goodwill [Roll Forward]
Goodwill, beginning balance	978	885
Acquisitions	0	0
Dispositions		0
Foreign exchange and other	(99)	93
Goodwill, ending balance	879	978
Dow Jones
Goodwill [Roll Forward]
Goodwill, beginning balance	1,532	1,368
Acquisitions	659	166
Dispositions		0
Foreign exchange and other	0	(2)
Goodwill, ending balance	2,191	1,532
Book Publishing
Goodwill [Roll Forward]
Goodwill, beginning balance	413	264
Acquisitions	8	124
Dispositions		(1)
Foreign exchange and other	(14)	26
Goodwill, ending balance	407	413
News Media
Goodwill [Roll Forward]
Goodwill, beginning balance	113	101
Acquisitions	32	0
Dispositions		0
Foreign exchange and other	(14)	12
Goodwill, ending balance	$ 131	$ 113

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Intangible Assets And Goodwill [Line Items]
Impairment charges			$ 15	$ 0	$ 1,690
Amortization expense of amortizable intangible assets			140	112	108
Finite lived intangible assets, Estimated amortization expense in 2023			163
Finite lived intangible assets, Estimated amortization expense in 2024			154
Finite lived intangible assets, Estimated amortization expense in 2025			151
Finite lived intangible assets, Estimated amortization expense in 2026			148
Finite lived intangible assets, Estimated amortization expense in 2027			142
Non-cash impairment of goodwill and indefinite-lived intangible assets			$ 0	$ 0	$ 89
News America Marketing
Intangible Assets And Goodwill [Line Items]
Non-cash impairment of goodwill		$ 122
Non-cash impairment charge for indefinite-lived intangible assets		$ 113
Foxtel
Intangible Assets And Goodwill [Line Items]
Accumulated impairment loss, goodwill	$ 931
Long-term growth rates	2%
Non-cash impairment of goodwill	$ 882
Non-cash impairment charge for indefinite-lived intangible assets	$ 49
Royalty rates	1.50%
EBITDA multiple rates	10%
Minimum | Other Than Impaired Reporting Units
Intangible Assets And Goodwill [Line Items]
Discount rates			8%	8%	9%
Long-term growth rates			1%	0%	0%
Control premium			5%	5%	5%
Royalty rates			0.25%	0.25%	0.25%
Minimum | Foxtel
Intangible Assets And Goodwill [Line Items]
Discount rates	10.50%
Maximum | Other Than Impaired Reporting Units
Intangible Assets And Goodwill [Line Items]
Discount rates			19%	22%	22.50%
Long-term growth rates			3%	3%	3%
Control premium			10%	10%	10%
Royalty rates			7%	6%	6%
Maximum | Foxtel
Intangible Assets And Goodwill [Line Items]
Discount rates	11.50%
News Media
Intangible Assets And Goodwill [Line Items]
Accumulated impairment loss, goodwill			$ 4,800	$ 4,800
News Media | News America Marketing
Intangible Assets And Goodwill [Line Items]
Non-cash impairment of goodwill and indefinite-lived intangible assets	$ 175				$ 235
Non-cash impairment of goodwill					122
Non-cash impairment charge for indefinite-lived intangible assets					$ 113
News Media | Minimum | News America Marketing
Intangible Assets And Goodwill [Line Items]
Discount rates					17%
Long-term growth rates					0.60%
News Media | Maximum | News America Marketing
Intangible Assets And Goodwill [Line Items]
Discount rates					18.50%
Long-term growth rates					1.50%
Intangible Assets and Goodwill
Intangible Assets And Goodwill [Line Items]
Impairment charges					$ 194

Borrowings - Schedule of Borrow

Borrowings - Schedule of Borrowings (Detail) - USD ($) $ in Millions	Jun. 30, 2022	Feb. 28, 2022	Jun. 30, 2021
Debt and Financial Instruments [Line Items]
Finance lease liability	$ 67		$ 100
Total borrowings	3,069		2,313
Less: current portion	(293)		(28)
Long-term borrowings	$ 2,776		$ 2,285
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Long-term borrowings		Long-term borrowings
2019 Credit facility | Foxtel
Debt and Financial Instruments [Line Items]
Total borrowings	$ 68		$ 232
Interest rate	4.11%
2019 Term loan facility | Foxtel
Debt and Financial Instruments [Line Items]
Total borrowings	$ 171		190
Interest rate	6.25%
2017 Working capital facility | New Foxtel
Debt and Financial Instruments [Line Items]
Total borrowings	$ 0		0
Interest rate	4.11%
Telstra facility | Foxtel
Debt and Financial Instruments [Line Items]
Total borrowings	$ 90		60
Interest rate	8.16%
2012 US private placement - USD portion - tranche 2 | New Foxtel
Debt and Financial Instruments [Line Items]
Total borrowings	$ 198		202
Interest rate	4.27%
2012 US private placement - USD portion - tranche 3 | New Foxtel
Debt and Financial Instruments [Line Items]
Total borrowings	$ 147		152
Interest rate	4.42%
2012 US private placement - AUD portion | New Foxtel
Debt and Financial Instruments [Line Items]
Total borrowings	$ 68		78
Interest rate	7.04%
Credit Facility 2022 Tranche 1 | REA Group
Debt and Financial Instruments [Line Items]
Total borrowings	$ 273		0
Interest rate	2.79%
Credit Facility 2022 Tranche 2 | REA Group
Debt and Financial Instruments [Line Items]
Total borrowings	$ 8		0
Interest rate	2.94%
2021 Bridge Facility | REA Group
Debt and Financial Instruments [Line Items]
Total borrowings	$ 0		314
Interest rate	0%
Unsecured Debt | 2022 Term loan A
Debt and Financial Instruments [Line Items]
Total borrowings	$ 500		0
Interest rate	3.529%
Senior Notes | 2022 Senior notes
Debt and Financial Instruments [Line Items]
Total borrowings	$ 492		0
Interest rate	5.125%	5.125%
Senior Notes | 2021 Senior notes
Debt and Financial Instruments [Line Items]
Total borrowings	$ 987		$ 985
Interest rate	3.875%

Borrowings - Schedule of Borr_2

Borrowings - Schedule of Borrowings Footnotes (Detail) $ in Millions, $ in Millions	Jun. 30, 2022 AUD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)
Debt Instrument [Line Items]
Finance lease liability, current		$ 27	$ 28
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Current borrowings	Current borrowings	Current borrowings
Credit Facility 2022 | REA Group
Debt Instrument [Line Items]
Amount of unused borrowing capacity	$ 187
Foxtel | 2019 Credit facility | Unsecured Revolving Credit Facility
Debt Instrument [Line Items]
Amount of unused borrowing capacity	$ 539

Borrowings - Additional Informa

Borrowings - Additional Information (Detail) $ in Millions		1 Months Ended	12 Months Ended
	Mar. 29, 2022 USD ($) extension	Feb. 29, 2020 AUD ($)	Jun. 30, 2022 AUD ($)	Jun. 30, 2022 USD ($) facility	Jun. 30, 2022 AUD ($) facility	Mar. 28, 2022 USD ($)	Feb. 28, 2022 USD ($)	Nov. 30, 2019
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Maximum amount of credit facility	$ 750,000,000					$ 750,000,000
Unused capacity commitment fee percentage			0.20%
2019 Term loan facility | Foxtel
Debt Instrument [Line Items]
Interest rate								6.25%
2022 Credit Agreement | Line of Credit
Debt Instrument [Line Items]
Maximum amount of credit facility	1,250,000,000
Increase to maximum borrowing capacity	$ 250,000,000
Operating income leverage ratio	300%
Interest coverage ratio	300%
2022 Credit Agreement | Base Rate | Line of Credit
Debt Instrument [Line Items]
Applicable margin for borrowing			0.375%
2022 Credit Agreement | Relevant Rate | Line of Credit
Debt Instrument [Line Items]
Applicable margin for borrowing			1.375%
Term Loan A Credit Facility | Line of Credit
Debt Instrument [Line Items]
Maximum amount of credit facility	$ 500,000,000
Amortization percentage, tranche one	0%
Amortization percentage, tranche two	2.50%
Amortization percentage, tranche three	2.50%
Amortization percentage, tranche four	5%
Amortization percentage, tranche five	5%
Extension term	1 year
Number of extension options | extension	2
Term Loan A Credit Facility | Line of Credit | Interest Rate Contract
Debt Instrument [Line Items]
Interest swap rate				2.083%	2.083%
Letter of Credit | Line of Credit
Debt Instrument [Line Items]
Maximum amount of credit facility	$ 100,000,000
Foxtel
Debt Instrument [Line Items]
Operating income leverage ratio			325%
Foxtel | 2019 Term loan facility
Debt Instrument [Line Items]
Proceeds from long-term lines of credit			$ 250
Interest coverage ratio			350%
Foxtel | Telstra facility
Debt Instrument [Line Items]
Telstras ownership percentage of Foxtel		35%
Foxtel | Telstra facility | Australian BBSY
Debt Instrument [Line Items]
Applicable margin for borrowing		7.75%
Unsecured revolving credit facility available amount		$ 170
Minimum | Australian BBSY
Debt Instrument [Line Items]
Applicable margin for borrowing			2%
Maximum | Australian BBSY
Debt Instrument [Line Items]
Applicable margin for borrowing			3.25%
Maximum | New Foxtel
Debt Instrument [Line Items]
Unused capacity commitment fee percentage			45%
2017 Working capital facility | Foxtel
Debt Instrument [Line Items]
Maximum amount of credit facility				$ 40,000,000
2017 Working capital facility | New Foxtel
Debt Instrument [Line Items]
Interest rate				4.11%	4.11%
2019 Credit facility | Foxtel
Debt Instrument [Line Items]
Interest rate				4.11%	4.11%
Maximum amount of credit facility				$ 610,000,000
2022 Senior notes | Senior Notes
Debt Instrument [Line Items]
Face amount of debt							$ 500,000,000
Interest rate				5.125%	5.125%		5.125%
Percentage of principal amount that maybe redeemed							40%
Percentage of principal amount that may be redeemed upon change in control							101%
2022 Credit Facilities | REA Group
Debt Instrument [Line Items]
Maximum amount of credit facility					$ 600
Unused capacity commitment fee percentage			40%
Operating income leverage ratio			350%
Interest coverage ratio			300%
Number of facilities | facility				2	2
Credit Facility 2022 Tranche 1 | REA Group
Debt Instrument [Line Items]
Interest rate				2.79%	2.79%
Maximum amount of credit facility					$ 400
Debt instrument term			3 years
Credit Facility 2022 Tranche 1 | Minimum | REA Group | Australian BBSY
Debt Instrument [Line Items]
Applicable margin for borrowing			1%
Credit Facility 2022 Tranche 1 | Maximum | REA Group | Australian BBSY
Debt Instrument [Line Items]
Applicable margin for borrowing			2.10%
Credit Facility 2022 Tranche 2 | REA Group
Debt Instrument [Line Items]
Interest rate				2.94%	2.94%
Maximum amount of credit facility					$ 200
Increase to maximum borrowing capacity					$ 500
Debt instrument term			4 years
Credit Facility 2022 Tranche 2 | Minimum | REA Group | Australian BBSY
Debt Instrument [Line Items]
Applicable margin for borrowing			1.15%
Credit Facility 2022 Tranche 2 | Maximum | REA Group | Australian BBSY
Debt Instrument [Line Items]
Applicable margin for borrowing			2.25%

Borrowings - Scheduled of Debt

Borrowings - Scheduled of Debt Maturities Excluding Other Obligations and Debt Issuance Costs (Detail) $ in Millions	Jun. 30, 2022 USD ($)
Debt Disclosure [Abstract]
Fiscal 2023	$ 271
Fiscal 2024	81
Fiscal 2025	602
Fiscal 2026	33
Fiscal 2027	450
Thereafter	$ 1,590

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Millions	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020	Jul. 01, 2019	Jun. 30, 2019
Lessee, Lease, Description [Line Items]
Stockholders' equity	$ 9,143	$ 9,146	$ 8,389		$ 10,311
Retained Earnings
Lessee, Lease, Description [Line Items]
Stockholders' equity	$ (2,293)	$ (2,911)	$ (3,241)		(1,979)
Cumulative Effect, Period of Adoption, Adjustment
Lessee, Lease, Description [Line Items]
Stockholders' equity					9
Cumulative Effect, Period of Adoption, Adjustment | Retained Earnings
Lessee, Lease, Description [Line Items]
Stockholders' equity					$ 6
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2016-02 | Retained Earnings
Lessee, Lease, Description [Line Items]
Stockholders' equity				$ 9

Leases - Schedule of total leas

Leases - Schedule of total lease cost (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Lessee, Lease, Description [Line Items]
Total lease costs	$ 227	$ 246	$ 260
Selling, general and administrative
Lessee, Lease, Description [Line Items]
Operating lease costs	125	135	139
Variable lease costs	24	28	41
Operating expenses
Lessee, Lease, Description [Line Items]
Operating lease costs	36	37	64
Short term lease costs	12	15	9
Depreciation and amortization
Lessee, Lease, Description [Line Items]
Finance lease costs	27	27	6
Interest expense, net
Lessee, Lease, Description [Line Items]
Finance lease costs	$ 3	$ 4	$ 1

Leases - Schedule of Additional

Leases - Schedule of Additional Information Related To Leases (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Leases [Abstract]
Operating Lease, Weighted-average remaining lease term	11 years	11 years 9 months 18 days
Operating Leases, Weighted-average incremental borrowing rate	3.56%	3.54%
Finance Lease, Weighted-average remaining lease term	2 years 9 months 18 days	3 years 8 months 12 days
Finance Lease, Weighted-average incremental borrowing rate	3.64%	3.64%
Cash paid - Operating lease liabilities	$ 182	$ 184
Cash paid - Finance lease liabilities - principal	27	30
Cash paid - Finance lease liabilities - interest	3	4
Operating lease right-of-use assets obtained in exchange for operating lease liabilities	$ 72	$ 25

Leases - Schedule of Future min

Leases - Schedule of Future minimum lease payments (Details) - USD ($) $ in Millions	Jun. 30, 2022	Jun. 30, 2021
Operating Leases
Fiscal 2023	$ 172
Fiscal 2024	157
Fiscal 2025	143
Fiscal 2026	126
Fiscal 2027	120
Thereafter	614
Total future minimum lease payments	1,332
Less: interest	(246)
Present value of minimum payments	1,086
Finance Leases
Fiscal 2023	29
Fiscal 2024	26
Fiscal 2025	15
Fiscal 2026	0
Fiscal 2027	0
Thereafter	0
Total future minimum lease payments	70
Less: interest	(3)
Present value of minimum payments	$ 67	$ 100

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	Jun. 30, 2022	Jun. 30, 2021
Assets:
Equity securities	$ 212	$ 280
Fair Value, Measurements, Recurring
Assets:
Equity securities	212	280
Total assets	335	371
Liabilities:
Total liabilities	0	22
Fair Value, Measurements, Recurring | Foreign Currency Derivatives | Cash Flow Hedging
Assets:
Derivative assets	1	0
Fair Value, Measurements, Recurring | Cross Currency Interest Rate Derivatives
Assets:
Derivative assets	79	73
Liabilities:
Derivative liabilities	0	13
Fair Value, Measurements, Recurring | Cross Currency Interest Rate Derivatives | Fair Value Hedging
Assets:
Derivative assets	19	18
Fair Value, Measurements, Recurring | Interest Rate Contract | Cash Flow Hedging
Assets:
Derivative assets	24	0
Liabilities:
Derivative liabilities	0	9
Fair Value, Measurements, Recurring | Level 1
Assets:
Equity securities	109	164
Total assets	109	164
Liabilities:
Total liabilities	0	0
Fair Value, Measurements, Recurring | Level 1 | Foreign Currency Derivatives | Cash Flow Hedging
Assets:
Derivative assets	0	0
Fair Value, Measurements, Recurring | Level 1 | Cross Currency Interest Rate Derivatives
Assets:
Derivative assets	0	0
Liabilities:
Derivative liabilities	0	0
Fair Value, Measurements, Recurring | Level 1 | Cross Currency Interest Rate Derivatives | Fair Value Hedging
Assets:
Derivative assets	0	0
Fair Value, Measurements, Recurring | Level 1 | Interest Rate Contract | Cash Flow Hedging
Assets:
Derivative assets	0	0
Liabilities:
Derivative liabilities	0	0
Fair Value, Measurements, Recurring | Level 2
Assets:
Equity securities	0	0
Total assets	123	91
Liabilities:
Total liabilities	0	22
Fair Value, Measurements, Recurring | Level 2 | Foreign Currency Derivatives | Cash Flow Hedging
Assets:
Derivative assets	1	0
Fair Value, Measurements, Recurring | Level 2 | Cross Currency Interest Rate Derivatives
Assets:
Derivative assets	79	73
Liabilities:
Derivative liabilities	0	13
Fair Value, Measurements, Recurring | Level 2 | Cross Currency Interest Rate Derivatives | Fair Value Hedging
Assets:
Derivative assets	19	18
Fair Value, Measurements, Recurring | Level 2 | Interest Rate Contract | Cash Flow Hedging
Assets:
Derivative assets	24	0
Liabilities:
Derivative liabilities	0	9
Fair Value, Measurements, Recurring | Level 3
Assets:
Equity securities	103	116
Total assets	103	116
Liabilities:
Total liabilities	0	0
Fair Value, Measurements, Recurring | Level 3 | Foreign Currency Derivatives | Cash Flow Hedging
Assets:
Derivative assets	0	0
Fair Value, Measurements, Recurring | Level 3 | Cross Currency Interest Rate Derivatives
Assets:
Derivative assets	0	0
Liabilities:
Derivative liabilities	0	0
Fair Value, Measurements, Recurring | Level 3 | Cross Currency Interest Rate Derivatives | Fair Value Hedging
Assets:
Derivative assets	0	0
Fair Value, Measurements, Recurring | Level 3 | Interest Rate Contract | Cash Flow Hedging
Assets:
Derivative assets	0	0
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 - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance—beginning of year	$ 116	$ 123
Additions	28	11
Returns of capital	(45)	(8)
Measurement adjustments	23	21
Foreign exchange and other	(19)	(31)
Balance—end of year	$ 103	$ 116

Financial Instruments and Fai_5

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	Jun. 30, 2022	Jun. 30, 2021
Foreign Currency Derivatives | Cash Flow Hedging
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, reported under other current assets	$ 1	$ 0
Cross Currency Interest Rate Derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, reported under other current assets	46	0
Derivatives, reported under other non-current assets	33	73
Derivatives, reported under other non-current liabilities	0	(13)
Cross Currency Interest Rate Derivatives | Fair Value Hedging
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, reported under other current assets	11	0
Derivatives, reported under other non-current assets	8	18
Interest Rate Derivatives | Cash Flow Hedging
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, reported under other current assets	4	0
Derivatives, reported under other non-current assets	20	0
Derivatives, reported under other current liabilities	0	(6)
Derivatives, reported under other non-current liabilities	$ 0	$ (3)

Financial Instruments and Fai_6

Financial Instruments and Fair Value Measurements - Additional Information (Detail) $ in Millions, $ in Millions	3 Months Ended			12 Months Ended
	Jun. 30, 2020 USD ($)	Mar. 31, 2020 USD ($)	Sep. 30, 2019 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 AUD ($)	Sep. 30, 2020 USD ($)	Dec. 31, 2019 USD ($)	Jun. 30, 2019 USD ($)
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 loss				$ (1)
Goodwill carrying value	$ 3,951			5,169	$ 4,653
Indefinite-lived intangible assets carrying value				1,028	1,057
News America Marketing
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Non-cash impairment of goodwill			$ 122
Non-cash impairment charge for indefinite-lived intangible assets			113
Goodwill carrying value			$ 0						$ 122
Indefinite-lived intangible assets carrying value							$ 195		$ 308
News UK and News Corp Australia
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed-asset impairment charges	203
News Corp Australia
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Property, plant, and equipment	235
News Corp UK
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Property, plant, and equipment	$ 207
Foxtel
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Non-cash impairment of goodwill		$ 882
Non-cash impairment charge for indefinite-lived intangible assets		49
Goodwill carrying value		786						$ 1,668
Indefinite-lived intangible assets carrying value		$ 140						$ 189
Cross Currency Interest Rate Derivatives
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 loss				(1)
Cross Currency Interest Rate Derivatives | Other, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gain from discontinued cash flow hedges				25	$ 11
Interest Rate Swap
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 loss				(5)
Cash Flow Hedging | Foreign Exchange Contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional value of derivative				21
Cash Flow Hedging | Cross Currency Interest Rate Derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional value of derivative				280
Cash Flow Hedging | Interest Rate Swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative notional amount				$ 500
Derivative interest rate				2.083%		2.083%
Cash Flow Hedging | Interest Rate Contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional value of derivative				$ 500
Cash Flow Hedging | Interest Rate Contract | Foxtel
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional value of derivative						$ 350
Fair Value Hedging
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional value of derivative						$ 70
Cumulative hedging adjustments included in the carrying amount				$ 0

Financial Instruments and Fai_7

Financial Instruments and Fair Value Measurements - Summary of Derivative Instruments Designated as Cash Flow Hedges (Detail) - Cash Flow Hedging - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gain (loss) recognized in Accumulated Other Comprehensive Income	$ 32	$ (12)	$ (9)
(Gain) loss reclassified from Accumulated Other Comprehensive Income	(6)	15	(2)
Foreign Currency Derivatives | Operating expenses
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gain (loss) recognized in Accumulated Other Comprehensive Income	2	3	(2)
(Gain) loss reclassified from Accumulated Other Comprehensive Income	0	(1)	(2)
Cross Currency Interest Rate Derivatives | Interest expense, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gain (loss) recognized in Accumulated Other Comprehensive Income	0	(15)	0
(Gain) loss reclassified from Accumulated Other Comprehensive Income	(4)	11	3
Interest Rate Contract | Interest expense, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gain (loss) recognized in Accumulated Other Comprehensive Income	30	0	(7)
(Gain) loss reclassified from Accumulated Other Comprehensive Income	$ (2)	$ 5	$ (3)

Financial Instruments and Fai_8

Financial Instruments and Fair Value Measurements - Schedule of Fair Value Hedging Relationship By Balance Sheet (Details) - Long - USD ($) $ in Millions	Jun. 30, 2022	Jun. 30, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying amount of hedged item	$ 68	$ 71
Cumulative hedging adjustments included in the carrying amount	$ 2	$ 5

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Dividends Declared Paid Per Share (Detail) - $ / shares	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Common Class A
Class of Stock [Line Items]
Cash dividend declared per share (in dollars per share)	$ 0.20	$ 0.20	$ 0.20
Common Class B
Class of Stock [Line Items]
Cash dividend declared per share (in dollars per share)	$ 0.20	$ 0.20	$ 0.20

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail)	12 Months Ended
	Jun. 30, 2022 USD ($) vote $ / shares shares	Jun. 30, 2021 $ / shares shares	Jun. 30, 2020 shares	Sep. 22, 2021 USD ($)	Sep. 21, 2021	May 31, 2013 USD ($)
Class of Stock [Line Items]
Number of votes per share | vote	1
Amount of stock repurchased and retired during period | $	$ 183,000,000
Majority shareholder ownership percentage				44%
Class A Common Stock
Class of Stock [Line Items]
Common stock, shares authorized	1,500,000,000	1,500,000,000
Common stock, par value (in dollars per share) | $ / shares	$ 0.01	$ 0.01
Common stock outstanding, net of treasury stock	387,561,850	391,212,047
Authorized repurchase amount | $				$ 1,000,000,000		$ 500,000,000
Remaining authorized repurchase amount | $	$ 817,000,000
Shares repurchased and retired during period	5,800,000	0	0
Amount of stock repurchased and retired during period | $	$ 122,000,000
Class B Common Stock
Class of Stock [Line Items]
Common stock, shares authorized	750,000,000	750,000,000
Common stock, par value (in dollars per share) | $ / shares	$ 0.01	$ 0.01
Common stock outstanding, net of treasury stock	196,808,833	199,630,240
Shares repurchased and retired during period	2,900,000	0	0
Amount of stock repurchased and retired during period | $	$ 61,000,000
Ownership agreement, majority shareholder increase in voting power					1.75%
Class B Common Stock | Maximum
Class of Stock [Line Items]
Majority shareholder ownership percentage				44%
Series Common Stock
Class of Stock [Line Items]
Common stock, shares authorized	25,000,000
Common stock, par value (in dollars per share) | $ / shares	$ 0.01
Common stock outstanding, net of treasury stock	0
Preferred Stock
Class of Stock [Line Items]
Preferred stock, shares authorized	25,000,000
Preferred stock, par value (in dollars per share) | $ / shares	$ 0.01

Equity-Based Compensation - Add

Equity-Based Compensation - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation costs related to unvested awards not yet recognized for all plans presented	$ 69
Tax benefit recognized on vested performance stock units, restricted stock units and stock options exercised	$ 25	$ 18	$ 24
Number of shares, Granted	3,475,000	3,546,000	4,468,000
Number of shares, Vested	3,526,000	3,676,000	5,565,000
Intrinsic value of unvested RSUs and target PSUs	$ 149
Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award performance measurement period	3 years
TSR period	3 years
Number of shares, Granted	1,000,000	1,600,000	2,100,000
Number of shares, Vested	3,000,000	3,600,000	6,300,000
Performance Stock Units | Settled In Cash
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares, Vested	1,000,000	1,200,000	1,600,000
Cash used to settle awards	$ 24	$ 18	$ 21
Performance Stock Units | Settled In Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares, Granted	600,000	800,000	1,200,000
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares, Vested	2,100,000	1,600,000
Cash used to settle awards	$ 13	$ 4
Restricted Stock Units | Settled In Cash
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares, Vested	500,000	300,000
Cash used to settle awards	$ 0.6	$ 1	$ 0.9
Restricted Stock Units | Settled In Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares, Granted	2,400,000	2,400,000	3,300,000
Cash used to settle awards	$ 3	$ 3.4	$ 4.2
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average future expense period of unrecognized stock-based compensation expense (years)	1 year
Minimum | Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total number of shares issued, percentage	0%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average future expense period of unrecognized stock-based compensation expense (years)	2 years
Maximum | Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total number of shares issued, percentage	200%
Maximum | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (years)	3 years
Class A Common Stock | 2013 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award shares authorized	50,000,000

Equity-Based Compensation - Sum

Equity-Based Compensation - Summary of Equity-Based Compensation Expense from Continuing Operations (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Share-Based Payment Arrangement [Abstract]
Total equity compensation expense	$ 59	$ 128	$ 69

Equity-Based Compensation - S_2

Equity-Based Compensation - Summary of Activity from Continuing and Discontinued Operations Related to Target PSUs and RSUs Settled in Shares (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Number of shares
Number of shares, Unvested units at beginning of the year	7,022	7,717	10,280
Number of shares, Granted	3,475	3,546	4,468
Number of shares, Vested	(3,526)	(3,676)	(5,565)
Number of shares, Cancelled	(674)	(565)	(1,466)
Number of shares, Unvested units at the end of the year	6,297	7,022	7,717
Weighted average grant- date fair value
Weighted average grant-date fair value, Unvested units at beginning of the year (in dollars per share)	$ 14.61	$ 13.39	$ 13.70
Weighted average grant-date fair value, Granted (in dollars per share)	21.96	15.59	12.79
Weighted average grant-date fair value, Vested (in dollars per share)	13.56	13.30	14.12
Weighted average grant-date fair value, Cancelled (in dollars per share)	19.12	15.05	10.97
Weighted average grant-date fair value, Unvested units at the end of the year (in dollars per share)	$ 18.65	$ 14.61	$ 13.39
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares, Granted	3,475	3,546	4,468
Fair value of PSUs and RSUs vested during the period	$ 48	$ 49	$ 79
Number of shares, Cancelled	674	565	1,466
Restricted Stock Units
Number of shares
Number of shares, Vested	(2,100)	(1,600)
Number of shares, Cancelled	(500)	(300)	(700)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares, Cancelled	500	300	700
Restricted Stock Units | Settled in Stock
Number of shares
Number of shares, Granted	2,400	2,400	3,300
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares, Granted	2,400	2,400	3,300
Performance Stock Units
Number of shares
Number of shares, Granted	1,000	1,600	2,100
Number of shares, Vested	(3,000)	(3,600)	(6,300)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares, Granted	1,000	1,600	2,100
Payout adjustment of performance share units			400
Performance Stock Units | Settled in Stock
Number of shares
Number of shares, Granted	600	800	1,200
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares, Granted	600	800	1,100
Number of shares, Granted	600	800	1,200
Payout adjustment of performance share units	200	300	400
Performance Stock Units | 2019 Fiscal
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout adjustment of performance share units	500		100
Performance Stock Units | 2018 Fiscal
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout adjustment of performance share units		300

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	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Earnings Per Share [Abstract]
Net income (loss)	$ 760	$ 389	$ (1,545)
Less: Net (income) loss attributable to noncontrolling interests	(137)	(59)	276
Net income (loss) available to News Corporation stockholders	$ 623	$ 330	$ (1,269)
Weighted-average number of shares of common stock outstanding—basic	589.5	590.4	587.9
Dilutive effect of equity awards	3	3	0
Weighted-average number of shares of common stock outstanding—diluted	592.5	593.4	587.9
Net income (loss) available to News Corporation stockholders per share—basic	$ 1.06	$ 0.56	$ (2.16)
Net income (loss) available to News Corporation stockholders per share—diluted	$ 1.05	$ 0.56	$ (2.16)

Related Party Transactions - Sc

Related Party Transactions - Schedule of Net Revenue from Related Parties (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Affiliated Entity
Related Party Transaction [Line Items]
Related party revenue (expense), net	$ (10)	$ (35)	$ (69)

Related Party Transactions - _2

Related Party Transactions - Schedule of Amount of Receivables Due from and Payable to Related Parties (Detail) - USD ($) $ in Millions	Jun. 30, 2022	Jun. 30, 2021
Related Party Transactions [Abstract]
Accounts receivable from related parties	$ 14	$ 8
Accounts payable to related parties	$ 10	$ 2

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Loss Contingencies [Line Items]
Other current assets	$ 458	$ 469
U.K. Newspaper Matters
Loss Contingencies [Line Items]
Selling, general and administrative expenses (benefit), net	11	$ 10	$ 8
Litigation liability accrued	56
Impact due to reversal of previous accrued liability due to settlement with tax authority			$ 5
U.K. Newspaper Matters Indemnification | 21st Century Fox
Loss Contingencies [Line Items]
Other current assets	$ 63

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Commitments by Fiscal Year Maturity (Detail) - USD ($) $ in Millions	Jun. 30, 2022	Jun. 30, 2021
Commitments and Contingencies [Line Items]
Total commitments and contractual obligations	$ 8,320
Commitments and contractual obligations, Payments due Less than 1 year	1,779
Commitments and contractual obligations, Payments due 1-3 years	2,621
Commitments and contractual obligations, Payments due 3-5 years	1,393
Commitments and contractual obligations, Payments due More than 5 years	2,527
Total future minimum lease payments	1,332
Operating leases, Payments Less than one year	172
Operating leases, Payments due More than 5 years	614
Total future minimum lease payments	70
Finance leases, Less than 1 Year	29
Finance lease, Payments due more than 5 years	0
Total borrowings	3,069	$ 2,313
Borrowings, Payments due Less than 1 year	271
Borrowings, Payments due More than 5 years	1,590
Purchase Obligations
Commitments and Contingencies [Line Items]
Purchase obligations, Total	930
Purchase obligations, Payments due Less than 1 year	469
Purchase obligations, Payments due 1-3 years	328
Purchase obligations, Payments due 3-5 years	69
Purchase obligations, Payments due More than 5 years	64
Borrowings
Commitments and Contingencies [Line Items]
Total borrowings	3,027
Borrowings, Payments due Less than 1 year	271
Borrowings, Payments due 1-3 years	683
Borrowings, Payments due 3-5 years	483
Borrowings, Payments due More than 5 years	1,590
Interest Payments on Borrowings
Commitments and Contingencies [Line Items]
Interest payments on borrowings, Total	710
Interest payments on borrowings, Payments due Less than 1 year	118
Interest payments on borrowings, Payments due 1-3 years	206
Interest payments on borrowings, Payments due 3-5 years	177
Interest payments on borrowings, Payments due More than 5 years	209
Land and Buildings
Commitments and Contingencies [Line Items]
Total future minimum lease payments	1,126
Operating leases, Payments Less than one year	139
Operating leases, Payments due 1-3 years	245
Operating leases, Payments due 3-5 years	217
Operating leases, Payments due More than 5 years	525
Plant and Machinery
Commitments and Contingencies [Line Items]
Total future minimum lease payments	11
Operating leases, Payments Less than one year	5
Operating leases, Payments due 1-3 years	5
Operating leases, Payments due 3-5 years	1
Operating leases, Payments due More than 5 years	0
Sports Programming Rights
Commitments and Contingencies [Line Items]
Sports programming rights, Total	1,708
Sports programming rights, Payments due Less than 1 year	460
Sports programming rights, Payments due 1-3 years	795
Sports programming rights, Payments due 3-5 years	381
Sports programming rights, Payments due More than 5 years	72
Programming Costs
Commitments and Contingencies [Line Items]
Programming costs, Total	568
Programming costs, Payments due Less than 1 year	262
Programming costs, Payments due 1-3 years	272
Programming costs, Payments due 3-5 years	30
Programming costs, Payments due More than 5 years	4
Transmission Costs
Commitments and Contingencies [Line Items]
Transmission costs, Total	170
Transmission costs, Payments due Less than 1 year	26
Transmission costs, Payments due 1-3 years	46
Transmission costs, Payments due 3-5 years	35
Transmission costs, Payments due More than 5 years	63
Total future minimum lease payments	70
Finance leases, Less than 1 Year	29
Finance lease, Payments 1-3 years	41
Finance leases, Payments due 3-5 years	0
Finance lease, Payments due more than 5 years	$ 0

Retirement Benefit Obligation_2

Retirement Benefit Obligations - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Defined Benefit Plan Disclosure [Line Items]
Net pension and postretirement benefits liability	$ (32)	$ (102)
Net periodic benefit costs	0	(1)	$ 7
Pension plan contributions for next fiscal year	12
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Accumulated pension benefit obligations	$ 1,011	$ 1,457
Equity securities
Defined Benefit Plan Disclosure [Line Items]
Pension asset portfolio, percentage	17%
Fixed Income Securities
Defined Benefit Plan Disclosure [Line Items]
Pension asset portfolio, percentage	76%
Cash and other
Defined Benefit Plan Disclosure [Line Items]
Pension asset portfolio, percentage	7%

Retirement Benefit Obligation_3

Retirement Benefit Obligations - Schedule of Amounts Recognized in Balance Sheets (Detail) - USD ($) $ in Millions	Jun. 30, 2022	Jun. 30, 2021
Defined Benefit Plan Disclosure [Line Items]
Other non-current assets	$ 133	$ 120
Other current liabilities	(10)	(11)
Retirement benefit obligations	(155)	(211)
Net amount recognized	(32)	(102)
Domestic Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Other non-current assets	0	0
Other current liabilities	0	(1)
Retirement benefit obligations	(40)	(53)
Net amount recognized	(40)	(54)
Foreign Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Other non-current assets	133	120
Other current liabilities	(2)	(2)
Retirement benefit obligations	(55)	(80)
Net amount recognized	76	38
Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Other non-current assets	0	0
Other current liabilities	(8)	(8)
Retirement benefit obligations	(60)	(78)
Net amount recognized	$ (68)	$ (86)

Retirement Benefit Obligation_4

Retirement Benefit Obligations - Schedule of Change in Projected Benefit Obligation, Change in Fair Value of Plan Assets and Funded Status (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Projected benefit obligation, beginning of the year	$ 1,549	$ 1,513
Service cost	1	2	$ 2
Interest cost	25	25	34
Benefits paid	(68)	(71)
Settlements	24	22
Actuarial loss (gain)	(283)	(10)
Foreign exchange rate changes	(117)	129
Amendments, transfers and other	0	(17)
Projected benefit obligation, end of the year	1,083	1,549	1,513
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets, beginning of the year	1,447	1,319
Actual return on plan assets	(215)	48
Employer contributions	29	35
Benefits paid	(61)	(63)
Settlements	(24)	(22)
Foreign exchange rate changes	(125)	130
Fair value of plan assets, end of the year	1,051	1,447	1,319
Funded status	(32)	(102)
Domestic Pension Benefits
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Projected benefit obligation, beginning of the year	339	353
Service cost	0	0	0
Interest cost	7	7	11
Benefits paid	(18)	(18)
Settlements	12	12
Actuarial loss (gain)	(56)	9
Foreign exchange rate changes	0	0
Amendments, transfers and other	0	0
Projected benefit obligation, end of the year	260	339	353
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets, beginning of the year	285	258
Actual return on plan assets	(49)	36
Employer contributions	14	21
Benefits paid	(18)	(18)
Settlements	(12)	(12)
Foreign exchange rate changes	0	0
Fair value of plan assets, end of the year	220	285	258
Funded status	(40)	(54)
Foreign Pension Benefits
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Projected benefit obligation, beginning of the year	1,124	1,051
Service cost	1	2	2
Interest cost	17	16	20
Benefits paid	(43)	(45)
Settlements	12	10
Actuarial loss (gain)	(216)	(18)
Foreign exchange rate changes	(116)	128
Amendments, transfers and other	0	0
Projected benefit obligation, end of the year	755	1,124	1,051
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets, beginning of the year	1,162	1,061
Actual return on plan assets	(166)	12
Employer contributions	15	14
Benefits paid	(43)	(45)
Settlements	(12)	(10)
Foreign exchange rate changes	(125)	130
Fair value of plan assets, end of the year	831	1,162	1,061
Funded status	76	38
Postretirement Benefits
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Projected benefit obligation, beginning of the year	86	109
Service cost	0	0	0
Interest cost	1	2	3
Benefits paid	(7)	(8)
Settlements	0	0
Actuarial loss (gain)	(11)	(1)
Foreign exchange rate changes	(1)	1
Amendments, transfers and other	0	(17)
Projected benefit obligation, end of the year	68	86	109
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets, beginning of the year	0	0
Actual return on plan assets	0	0
Employer contributions	0	0
Benefits paid	0	0
Settlements	0	0
Foreign exchange rate changes	0	0
Fair value of plan assets, end of the year	0	0	$ 0
Funded status	$ (68)	$ (86)

Retirement Benefit Obligation_5

Retirement Benefit Obligations - Schedule of Amounts Recognized in Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Defined Benefit Plan Disclosure [Line Items]
Actuarial losses (gains)	$ 446	$ 539
Prior service cost (benefit)	(25)	(27)
Net amounts recognized	421	512
Domestic Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Actuarial losses (gains)	126	130
Prior service cost (benefit)	0	0
Net amounts recognized	126	130
Foreign Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Actuarial losses (gains)	325	403
Prior service cost (benefit)	7	9
Net amounts recognized	332	412
Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Actuarial losses (gains)	(5)	6
Prior service cost (benefit)	(32)	(36)
Net amounts recognized	$ (37)	$ (30)

Retirement Benefit Obligation_6

Retirement Benefit Obligations - Schedule of Accumulated and Projected Benefit Obligations and Fair Value of Plan Assets for Funded and Unfunded Pension Plans (Detail) - USD ($) $ in Millions	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	$ 1,083	$ 1,549	$ 1,513
Fair value of plan assets	1,051	1,447	1,319
Domestic Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	260	339	353
Accumulated benefit obligation	260	339
Fair value of plan assets	220	285	258
Domestic Pension Benefits | Funded Plans
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	253	330
Accumulated benefit obligation	253	330
Fair value of plan assets	220	285
Domestic Pension Benefits | Unfunded Plans
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	7	9
Accumulated benefit obligation	7	9
Fair value of plan assets	0	0
Foreign Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	755	1,124	1,051
Accumulated benefit obligation	751	1,118
Fair value of plan assets	831	1,162	$ 1,061
Foreign Pension Benefits | Funded Plans
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	701	1,043
Accumulated benefit obligation	697	1,037
Fair value of plan assets	831	1,162
Foreign Pension Benefits | Unfunded Plans
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	54	81
Accumulated benefit obligation	54	81
Fair value of plan assets	$ 0	$ 0

Retirement Benefit Obligation_7

Retirement Benefit Obligations - Schedule of Accumulated Benefit Obligation Exceeds Fair Value of Plan Assets (Detail) - Foreign Pension Benefits - USD ($) $ in Millions	Jun. 30, 2022	Jun. 30, 2021
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	$ 103	$ 140
Accumulated benefit obligation	103	140
Fair value of plan assets	46	58
Funded Plans
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	49	59
Accumulated benefit obligation	49	59
Fair value of plan assets	46	58
Unfunded Plans
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	54	81
Accumulated benefit obligation	54	81
Fair value of plan assets	$ 0	$ 0

Retirement Benefit Obligation_8

Retirement Benefit Obligations - Schedule of Components of Net Periodic Costs (Income) (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Defined Benefit Plan Disclosure [Line Items]
Service cost benefits earned during the period	$ 1	$ 2	$ 2
Interest costs on projected benefit obligations	25	25	34
Expected return on plan assets	(51)	(50)	(59)
Amortization of deferred losses	19	20	16
Amortization of prior service credits	(4)	(4)	(3)
Settlements, curtailments and other	10	6	17
Net periodic benefit (income) costs – Total	0	(1)	7
Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost benefits earned during the period	0	0	0
Interest costs on projected benefit obligations	1	2	3
Expected return on plan assets	0	0	0
Amortization of deferred losses	0	0	0
Amortization of prior service credits	(4)	(4)	(3)
Settlements, curtailments and other	0	0	0
Net periodic benefit (income) costs – Total	(3)	(2)	0
Domestic Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost benefits earned during the period	0	0	0
Interest costs on projected benefit obligations	7	7	11
Expected return on plan assets	(15)	(13)	(16)
Amortization of deferred losses	5	5	5
Amortization of prior service credits	0	0	0
Settlements, curtailments and other	8	5	12
Net periodic benefit (income) costs – Total	5	4	12
Foreign Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost benefits earned during the period	1	2	2
Interest costs on projected benefit obligations	17	16	20
Expected return on plan assets	(36)	(37)	(43)
Amortization of deferred losses	14	15	11
Amortization of prior service credits	0	0	0
Settlements, curtailments and other	2	1	5
Net periodic benefit (income) costs – Total	$ (2)	$ (3)	$ (5)

Retirement Benefit Obligation_9

Retirement Benefit Obligations - Schedule of Assumptions Used (Detail)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Postretirement Benefits
Weighted-average assumptions used to determine benefit obligations
Discount rate	4.60%	2.40%	2.50%
Weighted-average assumptions used to determine net periodic benefit cost
Discount rate for PBO	2.40%	2.50%	3.30%
Discount rate for Service Cost	2.80%	2.90%	3.60%
Discount rate for Interest on PBO	1.70%	1.80%	2.90%
Domestic Pension Benefits
Weighted-average assumptions used to determine benefit obligations
Discount rate	4.90%	2.90%	2.90%
Weighted-average assumptions used to determine net periodic benefit cost
Discount rate for PBO	2.90%	2.90%	3.60%
Discount rate for Service Cost	3.30%	3.40%	3.90%
Discount rate for Interest on PBO	2.20%	2.20%	3.20%
Expected return on plan assets	5.80%	5.50%	6%
Foreign Pension Benefits
Weighted-average assumptions used to determine benefit obligations
Discount rate	3.90%	1.90%	1.70%
Rate of increase in future compensation	3.90%	3.60%	3.10%
Weighted-average assumptions used to determine net periodic benefit cost
Discount rate for PBO	1.90%	1.70%	2.30%
Discount rate for Service Cost	1.80%	1.80%	2.50%
Discount rate for Interest on PBO	1.60%	1.50%	2%
Expected return on plan assets	3.30%	3.30%	4.20%
Rate of increase in future compensation	3.60%	3.10%	3.40%

Retirement Benefit Obligatio_10

Retirement Benefit Obligations - Schedule of Health Care Cost Trend Rates (Detail) - Postretirement Benefits	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Defined Benefit Plan Disclosure [Line Items]
Health care cost trend rate	6.40%	6.60%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	4.50%	4.70%
Year that the rate reaches the ultimate trend rate	2030	2030

Retirement Benefit Obligatio_11

Retirement Benefit Obligations - Schedule of Expected Benefit Payments (Detail) $ in Millions	Jun. 30, 2022 USD ($)
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]
2023	$ 79
2024	74
2025	72
2026	69
2027	70
2028-2032	337
Postretirement Benefits
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]
2023	8
2024	7
2025	7
2026	6
2027	6
2028-2032	25
Domestic Pension Benefits
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]
2023	21
2024	20
2025	19
2026	19
2027	20
2028-2032	92
Foreign Pension Benefits
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]
2023	50
2024	47
2025	46
2026	44
2027	44
2028-2032	$ 220

Retirement Benefit Obligatio_12

Retirement Benefit Obligations - Schedule of Allocation of Plan Assets (Detail) - USD ($) $ in Millions	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 1,051	$ 1,447	$ 1,319
NAV
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	945	1,317
Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	53	53
Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	46	67
Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	7	10	$ 9
Domestic equity funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	37	61
Domestic equity funds | NAV
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	37	61
Domestic equity funds | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Domestic equity funds | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Domestic equity funds | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
International equity funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	112	199
International equity funds | NAV
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	112	199
International equity funds | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
International equity funds | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
International equity funds | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Domestic fixed income funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	106	144
Domestic fixed income funds | NAV
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	106	144
Domestic fixed income funds | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Domestic fixed income funds | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Domestic fixed income funds | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
International fixed income funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	666	882
International fixed income funds | NAV
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	666	882
International fixed income funds | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
International fixed income funds | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
International fixed income funds | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Balanced funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	46	67
Balanced funds | NAV
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Balanced funds | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Balanced funds | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	46	67
Balanced funds | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Other
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	84	94
Other | NAV
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	24	31
Other | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	53	53
Other | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Other | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 7	$ 10

Retirement Benefit Obligatio_13

Retirement Benefit Obligations - Summary of Changes in Fair Value of Investments Reflected as Level 3 Assets (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets, beginning of the year	$ 1,447	$ 1,319
Actual return on plan assets:
Fair value of plan assets, end of the year	1,051	1,447
Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets, beginning of the year	10	9
Actual return on plan assets:
Actual return on plan assets, Relating to assets still held at end of period	(2)	1
Actual return on plan assets, Relating to assets sold during the period	0	0
Purchases, sales, settlements and issuances	(1)	0
Transfers in and out of Level 3	0	0
Fair value of plan assets, end of the year	$ 7	$ 10

Retirement Benefit Obligatio_14

Retirement Benefit Obligations - Schedule of Weighted-Average Asset Allocations, by Asset Category (Detail)	Jun. 30, 2022	Jun. 30, 2021
Asset Category:
Benefit plan weighted-average asset allocations	100%	100%
Equity securities
Asset Category:
Benefit plan weighted-average asset allocations	15%	19%
Debt securities
Asset Category:
Benefit plan weighted-average asset allocations	75%	73%
Cash and other
Asset Category:
Benefit plan weighted-average asset allocations	10%	8%

Other Postretirement Benefits -

Other Postretirement Benefits - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Retirement Benefits [Abstract]
Employer contributions to defined contribution plans	$ 147	$ 142	$ 154
Unfunded obligation of plan	$ 48	$ 51

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Income Tax Contingency [Line Items]
Deferred tax asset	$ 2,291,000,000	$ 2,446,000,000
Unrecognized tax benefits	86,000,000	69,000,000	$ 63,000,000	$ 58,000,000
Valuation allowance recorded	1,588,000,000	1,765,000,000
Interest and penalties	1,000,000	1,000,000	0
Interest and penalty accrual	5,000,000	4,000,000	3,000,000
Amount that affect effective income tax rate	63,000,000
Undistributed earnings of foreign subsidiaries, indefinitely reinvested	900,000,000
Gross income tax paid	180,000,000	176,000,000	99,000,000
Income tax refunds	3,000,000	14,000,000	$ 25,000,000
Maximum
Income Tax Contingency [Line Items]
Amount of uncertain tax liabilities	40,000,000
Minimum
Income Tax Contingency [Line Items]
Amount of uncertain tax liabilities	0
Foreign Tax Authority
Income Tax Contingency [Line Items]
Remeasurement of deferred tax assets	(149,000,000)
Capital loss carryforwards	29,000,000
Foreign Tax Authority | U.K.
Income Tax Contingency [Line Items]
Amount of change in enacted tax rate	18,000,000	34,000,000
U.S. Federal
Income Tax Contingency [Line Items]
Remeasurement of deferred tax assets	(156,000,000)
Capital loss carryforwards	81,000,000
U.S. States
Income Tax Contingency [Line Items]
Remeasurement of deferred tax assets		(75,000,000)
Capital loss carryforwards	11,000,000
State and Foreign Country Jurisdiction
Income Tax Contingency [Line Items]
Valuation allowance recorded	29,000,000
Net Operating Loss Carryforwards
Income Tax Contingency [Line Items]
Deferred tax asset	408,000,000	484,000,000
Unrecognized tax benefits	68,000,000	62,000,000
Valuation allowance recorded	122,000,000	206,000,000
Net Operating Loss Carryforwards | Foreign Tax Authority | Australia
Income Tax Contingency [Line Items]
Remeasurement of deferred tax assets	(31,000,000)
Net Operating Loss Carryforwards | U.S. Federal
Income Tax Contingency [Line Items]
Remeasurement of deferred tax assets		64,000,000
Capital Loss Carryforward
Income Tax Contingency [Line Items]
Deferred tax asset	1,100,000,000	1,100,000,000
Valuation allowance recorded	1,100,000,000	1,100,000,000
Capital Loss Carryforward | Australia
Income Tax Contingency [Line Items]
Capital loss carryforwards	2,500,000,000
Capital Loss Carryforward | U.K.
Income Tax Contingency [Line Items]
Capital loss carryforwards	1,500,000,000
Release of valuation allowances	4,000,000	$ 6,000,000
Capital Loss Carryforward | U.S. Federal
Income Tax Contingency [Line Items]
Release of valuation allowances	3,000,000
General Business Tax Credit Carryforward | U.S. Federal
Income Tax Contingency [Line Items]
Research and development credits	46,000,000
Foreign Tax Credits | Foreign Tax Authority
Income Tax Contingency [Line Items]
Release of valuation allowances	26,000,000
Foreign Tax Credits | U.S. Federal
Income Tax Contingency [Line Items]
Release of valuation allowances	1,000,000
Foreign tax credits	$ 35,000,000

Income Taxes - Schedule of (Los

Income Taxes - Schedule of (Loss) Income from Continuing Operations Before Income Tax Expense (Benefit) Attributable to Jurisdictions (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
U.S.	$ 194	$ 266	$ (310)
Foreign	618	184	(1,214)
Income (loss) before income tax expense	$ 812	$ 450	$ (1,524)

Income Taxes - Schedule of Comp

Income Taxes - Schedule of Components of Income Tax Expense (Benefit) (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Current:
Federal	$ 0	$ 5	$ (4)
State & Local	9	9	3
Foreign	160	133	102
Total current tax	169	147	101
Deferred:
Federal	54	(30)	(45)
State & Local	4	(1)	(4)
Foreign	(175)	(55)	(31)
Total deferred tax	(117)	(86)	(80)
Total income tax expense	$ 52	$ 61	$ 21

Income Taxes - Effective Income

Income Taxes - Effective Income Tax Rate Reconciliation (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Income Taxes Disclosure [Line Items]
U.S. federal income tax rate	21%	21%	21%
State and local taxes, net	1%	2%	1%
Effect of foreign operations	7%	12%	(2.00%)
Change in valuation allowance (b)	(19.00%)	(16.00%)	0%
Non-deductible goodwill and asset impairments	0%	1%	(22.00%)
Non-deductible compensation and benefits	0%	4%	0%
Remeasurement of deferred tax assets	(2.00%)	(7.00%)	0%
R&D tax credits	(1.00%)	(2.00%)	1%
Impact of dispositions	2%	0%	0%
Other	1%	(1.00%)	0%
Effective tax rate	6%	14%	(1.00%)
Non-cash impairment charge	$ 15	$ 0	$ 1,690
Certain Deferred Tax Assets
Income Taxes Disclosure [Line Items]
Remeasurement of deferred tax assets		(64)
U.S. Federal
Income Taxes Disclosure [Line Items]
Remeasurement of deferred tax assets	(156)
U.S. States
Income Taxes Disclosure [Line Items]
Remeasurement of deferred tax assets		(75)
Foreign Tax Authority
Income Taxes Disclosure [Line Items]
Remeasurement of deferred tax assets	(149)
Foreign Tax Authority | UNITED KINGDOM
Income Taxes Disclosure [Line Items]
Amount of change in enacted tax rate	$ 18	$ 34
Goodwill
Income Taxes Disclosure [Line Items]
Non-deductible goodwill, asset and investment impairment			$ 262

Income Taxes - Summary of Recog

Income Taxes - Summary of Recognized Deferred Income Taxes in Balance Sheets (Detail) - USD ($) $ in Millions	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Deferred income tax assets	$ 422	$ 378
Deferred income tax liabilities	(198)	(260)
Net deferred tax assets	$ 224	$ 118

Income Taxes - Schedule of Co_2

Income Taxes - Schedule of Components of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Millions	Jun. 30, 2022	Jun. 30, 2021
Deferred tax assets:
Accrued liabilities	$ 173	$ 169
Capital loss carryforwards	1,135	1,126
Retirement benefit obligations	24	34
Net operating loss carryforwards	408	484
Business tax credits	122	115
Operating lease liabilities	278	365
Other	151	153
Total deferred tax assets	2,291	2,446
Deferred tax liabilities:
Asset basis difference and amortization	(163)	(161)
Operating lease right-of-use asset	(257)	(339)
Other	(59)	(63)
Total deferred tax liabilities	(479)	(563)
Net deferred tax asset before valuation allowance	1,812	1,883
Less: valuation allowance (See Note 22—Valuation and Qualifying Accounts)	(1,588)	(1,765)
Net deferred tax assets	$ 224	$ 118

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income Tax Net Operating Loss Carryforwards (NOLs) (Gross, Net Uncertain Tax Benefits) (Detail) $ in Millions	Jun. 30, 2022 USD ($)
U.S. Federal | 2021 to 2037
Operating Loss Carryforwards [Line Items]
Net Operating Loss Carryforwards, Amount	$ 149
U.S. Federal | Indefinite
Operating Loss Carryforwards [Line Items]
Net Operating Loss Carryforwards, Amount	435
U.S. States
Operating Loss Carryforwards [Line Items]
Net Operating Loss Carryforwards, Amount	664
Foreign Tax Authority | Australia
Operating Loss Carryforwards [Line Items]
Net Operating Loss Carryforwards, Amount	365
Foreign Tax Authority | U.K.
Operating Loss Carryforwards [Line Items]
Net Operating Loss Carryforwards, Amount	12
Other Foreign
Operating Loss Carryforwards [Line Items]
Net Operating Loss Carryforwards, Amount	$ 590

Income Taxes - Change in Unreco

Income Taxes - Change in Unrecognized Tax Benefits, Excluding Interest and Penalties (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance, beginning of period	$ 69	$ 63	$ 58
Additions for prior year tax positions	0	0	4
Additions for current year tax positions	28	4	8
Reduction for prior year tax positions	(1)	(2)	(1)
Lapse of the statute of limitations	(3)	(3)	(3)
Settlement—tax attributes	0	0	(2)
Impact of currency translations	(7)	7	(1)
Balance, end of period	$ 86	$ 69	$ 63

Segment Information - Additiona

Segment Information - Additional Information (Detail)	12 Months Ended
	Jun. 30, 2022 country channel segment brand
Segment Reporting Information [Line Items]
Number of reportable segments | segment	6
Digital Real Estate Services | Move Inc
Segment Reporting Information [Line Items]
Company ownership percentage	80%
Digital Real Estate Services | Move Inc | REA Group
Segment Reporting Information [Line Items]
Ownership interest held by minority interest	20%
Digital Real Estate Services | REA Group
Segment Reporting Information [Line Items]
Company ownership percentage	61.40%
Book Publishing
Segment Reporting Information [Line Items]
Number of countries | country	17
Book Publishing | Minimum
Segment Reporting Information [Line Items]
Number of branded publishing imprints | brand	120
Subscription Video Services | New Foxtel
Segment Reporting Information [Line Items]
Company ownership percentage	65%
Subscription Video Services | New Foxtel | Telstra
Segment Reporting Information [Line Items]
Ownership interest held by minority interest	35%
Subscription Video Services | Minimum | New Foxtel
Segment Reporting Information [Line Items]
Number of channels | channel	200

Segment Information - Reconcili

Segment Information - Reconciliation of Revenue and Segment EBITDA from Segments to Consolidated (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting Information [Line Items]
Revenues	$ 10,385	$ 9,358	$ 9,008
Depreciation and amortization	(688)	(680)	(644)
Impairment and restructuring charges	(109)	(168)	(1,830)
Equity losses of affiliates	(13)	(65)	(47)
Interest expense, net	(99)	(53)	(25)
Other, net	52	143	9
Income (loss) before income tax expense	812	450	(1,524)
Income tax expense	(52)	(61)	(21)
Net income (loss)	760	389	(1,545)
Digital Real Estate Services
Segment Reporting Information [Line Items]
Revenues	1,741	1,393	1,065
Total Segment EBITDA	574	514	345
Depreciation and amortization	(112)	(101)	(93)
Subscription Video Services
Segment Reporting Information [Line Items]
Revenues	2,026	2,072	1,884
Total Segment EBITDA	360	359	323
Depreciation and amortization	(321)	(332)	(283)
Dow Jones
Segment Reporting Information [Line Items]
Revenues	2,004	1,702	1,590
Total Segment EBITDA	433	332	236
Depreciation and amortization	(119)	(119)	(113)
Book Publishing
Segment Reporting Information [Line Items]
Revenues	2,191	1,985	1,666
Total Segment EBITDA	306	303	214
Depreciation and amortization	(49)	(36)	(33)
News Media
Segment Reporting Information [Line Items]
Revenues	2,423	2,205	2,801
Total Segment EBITDA	217	52	53
Depreciation and amortization	(79)	(84)	(115)
Other
Segment Reporting Information [Line Items]
Revenues	0	1	2
Total Segment EBITDA	(221)	(287)	(158)
Depreciation and amortization	$ (8)	$ (8)	$ (7)

Segment Information - Reconci_2

Segment Information - Reconciliation of Depreciation and Amortization, Capital Expenditures from Segments to Consolidated (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting Information [Line Items]
Total Depreciation and amortization	$ 688	$ 680	$ 644
Total Capital expenditures	499	390	438
Digital Real Estate Services
Segment Reporting Information [Line Items]
Total Depreciation and amortization	112	101	93
Total Capital expenditures	109	78	80
Subscription Video Services
Segment Reporting Information [Line Items]
Total Depreciation and amortization	321	332	283
Total Capital expenditures	193	142	199
Dow Jones
Segment Reporting Information [Line Items]
Total Depreciation and amortization	119	119	113
Total Capital expenditures	77	62	59
Book Publishing
Segment Reporting Information [Line Items]
Total Depreciation and amortization	49	36	33
Total Capital expenditures	37	16	12
News Media
Segment Reporting Information [Line Items]
Total Depreciation and amortization	79	84	115
Total Capital expenditures	81	84	76
Other
Segment Reporting Information [Line Items]
Total Depreciation and amortization	8	8	7
Total Capital expenditures	$ 2	$ 8	$ 12

Segment Information - Reconci_3

Segment Information - Reconciliation of Assets from Segments to Consolidated (Detail) - USD ($) $ in Millions	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting, Asset Reconciling Item [Line Items]
Investments	$ 488	$ 351
Total assets	17,221	16,771
Digital Real Estate Services
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	2,989	3,146
Subscription Video Services
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	3,082	3,515
Dow Jones
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	4,368	2,798
Book Publishing
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	2,651	2,713
News Media
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	2,115	2,209
Other
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 1,528	$ 2,039

Segment Information - Reconci_4

Segment Information - Reconciliation of Goodwill and Intangible Assets from Segments to Consolidated (Detail) - USD ($) $ in Millions	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
Total Goodwill and intangible assets, net	$ 7,840	$ 6,832
Digital Real Estate Services
Segment Reporting Information [Line Items]
Total Goodwill and intangible assets, net	1,823	1,871
Subscription Video Services
Segment Reporting Information [Line Items]
Total Goodwill and intangible assets, net	1,394	1,612
Dow Jones
Segment Reporting Information [Line Items]
Total Goodwill and intangible assets, net	3,346	1,995
Book Publishing
Segment Reporting Information [Line Items]
Total Goodwill and intangible assets, net	973	1,046
News Media
Segment Reporting Information [Line Items]
Total Goodwill and intangible assets, net	304	308
Other
Segment Reporting Information [Line Items]
Total Goodwill and intangible assets, net	$ 0	$ 0

Segment Information - Revenue a

Segment Information - Revenue and Long-Lived Assets by Geographic Region (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting Information [Line Items]
Revenues	$ 10,385	$ 9,358	$ 9,008
Total long-lived assets	4,378	4,754
U.S. and Canada
Segment Reporting Information [Line Items]
Revenues	4,097	3,550	3,763
Total long-lived assets	1,513	1,429
Domestic Pension Benefits
Segment Reporting Information [Line Items]
Revenues	4,000	3,500	3,700
Europe
Segment Reporting Information [Line Items]
Revenues	1,808	1,672	1,502
Total long-lived assets	774	887
U.K.
Segment Reporting Information [Line Items]
Revenues	1,400	1,300	1,200
Australasia and Other
Segment Reporting Information [Line Items]
Revenues	4,480	4,136	3,743
Total long-lived assets	2,091	2,438
Australia
Segment Reporting Information [Line Items]
Revenues	$ 4,200	$ 3,900	$ 3,500

Additional Financial Informat_3

Additional Financial Information - Components of Other Non-Current Assets (Detail) - USD ($) $ in Millions	Jun. 30, 2022	Jun. 30, 2021
Assets, Noncurrent [Abstract]
Royalty advances to authors	$ 403	$ 406
Retirement benefit assets	133	120
Inventory	268	279
News America Marketing deferred consideration	142	128
Other	438	514
Total Other non-current assets	$ 1,384	$ 1,447

Additional Financial Informat_4

Additional Financial Information - Components of Other Current Liabilities (Detail) - USD ($) $ in Millions	Jun. 30, 2022	Jun. 30, 2021
Liabilities, Current [Abstract]
Royalties and commissions payable	$ 215	$ 206
Current operating lease liabilities	139	143
Allowance for sales returns	173	190
Current tax payable	18	30
Other	430	504
Total Other current liabilities	$ 975	$ 1,073
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Total Other current liabilities	Total Other current liabilities

Additional Financial Informat_5

Additional Financial Information - Components of Other, Net Included in Statement of Operations (Detail) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Dec. 31, 2020	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020	Sep. 30, 2021
Other Income and Expenses [Line Items]
Remeasurement of equity securities		$ (59)	$ 81	$ (21)
Total Other, net		52	143	9
REA Group | Equity Method Investments
Other Income and Expenses [Line Items]
Gain on sale of businesses			20
Move Inc | Top Producer
Other Income and Expenses [Line Items]
Gain on sale of businesses		18
REA Group | PropertyGuru Pte. Ltd.
Other Income and Expenses [Line Items]
Gain on sale of businesses		$ 107
Ownership percentage		18%			18%
Equity method investment, diluted ownership percentage		17.50%			16.60%
Nonoperating Income (Expense)
Other Income and Expenses [Line Items]
Remeasurement of equity securities		$ (59)	81	(21)
Dividends received from equity security investments		20	9	3
Gain on remeasurement of previously-held interest	$ 7	3	7	0
Gain on dilution of equity interests		15	0	0
Other		(25)	28	7
Total Other, net		52	143	9
Nonoperating Income (Expense) | REA Group
Other Income and Expenses [Line Items]
Gain on sale of businesses		98	$ 18	$ 20
Nonoperating Income (Expense) | REA Group | PropertyGuru Pte. Ltd.
Other Income and Expenses [Line Items]
Gain on dilution of equity interests		$ 15

Additional Financial Informat_6

Additional Financial Information - Summary of Supplemental Cash Flow Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Supplemental Cash Flow Information [Abstract]
Cash paid for interest	$ 96	$ 55	$ 61
Cash paid for taxes	$ 180	$ 176	$ 99

Additional Financial Informat_7

Additional Financial Information - Components of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 9,146	$ 8,389	$ 10,311
Fiscal year activity	(329)	390	(205)
Ending balance	9,143	9,146	8,389
Net change in the fair value of cash flow hedges, income tax expense	7	0	(3)
Pension plans, income tax expense (benefit)	19	(1)	(11)
Foreign currency translation adjustments, fiscal year activity	(518)	468	(200)
Accumulated Other Comprehensive Loss
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(941)	(1,331)	(1,126)
Ending balance	(1,270)	(941)	(1,331)
Cash flow hedge adjustments:
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	0	2	6
Fiscal year activity	21	(2)	(4)
Ending balance	21	0	2
Benefit Plan Adjustments:
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(392)	(394)	(352)
Fiscal year activity	71	2	(42)
Ending balance	(321)	(392)	(394)
Foreign currency translation adjustments:
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(549)	(939)	(780)
Fiscal year activity	(421)	390	(159)
Ending balance	(970)	(549)	(939)
Noncontrolling Interests
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	935	807	1,167
Ending balance	921	935	807
Foreign currency translation adjustments, fiscal year activity	$ (97)	$ 78	$ (43)

Valuation and Qualifying Acco_3

Valuation and Qualifying Accounts - Schedule of Valuation and Qualifying Accounts (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Allowances for doubtful accounts
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of year	$ (71)	$ (73)	$ (46)
Additions	(6)	(5)	(34)
Acquisitions and disposals	0	(3)	(9)
Utilization	7	15	16
Foreign exchange	3	(5)	0
Balance at end of year	(67)	(71)	(73)
Allowances for sales returns
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of year	(190)	(174)	(192)
Additions	(554)	(514)	(539)
Acquisitions and disposals	(1)	(8)	(1)
Utilization	564	511	557
Foreign exchange	8	(5)	1
Balance at end of year	(173)	(190)	(174)
Deferred tax valuation allowance
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of year	(1,765)	(1,546)	(1,468)
Additions	(237)	(180)	(104)
Acquisitions and disposals	(8)	10	(1)
Utilization	232	100	(4)
Foreign exchange	190	(149)	31
Balance at end of year	$ (1,588)	$ (1,765)	$ (1,546)

Subsequent Events- Additional I

Subsequent Events- Additional Information (Detail) - $ / shares		12 Months Ended
	Aug. 12, 2022	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Common Class A
Subsequent Event [Line Items]
Cash dividend declared per share (in dollars per share)		$ 0.20	$ 0.20	$ 0.20
Common Class B
Subsequent Event [Line Items]
Cash dividend declared per share (in dollars per share)		$ 0.20	$ 0.20	$ 0.20
Subsequent Event | Common Class A
Subsequent Event [Line Items]
Cash dividend declared per share (in dollars per share)	$ 0.10
Subsequent Event | Common Class B
Subsequent Event [Line Items]
Cash dividend declared per share (in dollars per share)	$ 0.10