News (NWS) 8-K Results of Operations and Financial Condition

Exhibit 99.1

NEWS CORPORATION

SUPPLEMENTAL FINANCIAL INFORMATION

As previously disclosed on December 22, 2024, News Corporation (the “Company”) issued a press release announcing that it and Telstra Corporation Limited have entered into a definitive agreement to sell NXE Australia Pty Limited (“Foxtel”) to DAZN Group Limited. The agreement follows a strategic review of Foxtel as part of the Company’s ongoing efforts to optimize its portfolio and simplify the structure of the Company.

Beginning with the Company's second quarter of Fiscal 2025, as a result of the progression of the sale process and the discontinuation of further significant business activities in the Subscription Video Services segment, the results of operations of Foxtel have been classified as discontinued operations in accordance with ASC 205-20, Discontinued Operations, as the disposition reflects a strategic shift that has, and will have, a major effect on the Company’s operations and financial results. Upon reclassification of Foxtel’s results, the Company determined that the Subscription Video Services segment was no longer a reportable segment and the residual results of the segment were aggregated into the News Media segment.

The following table details the Company's unaudited recast annual financial information for the fiscal years ended June 30, 2024 and 2023:

	For the fiscal year ended June 30,
	2024		2023
	(in millions)
Revenues:
Dow Jones	$	2,231	$	2,153
Digital Real Estate Services	1,658		1,539
Book Publishing	2,093		1,979
News Media	2,270		2,341
Other	—		—
Total Revenues	$	8,252	$	8,012
Segment EBITDA:
Dow Jones	542		494
Digital Real Estate Services	508		457
Book Publishing	269		167
News Media	133		173
Other	(211)		(202)
Depreciation and amortization	(440)		(415)
Impairment and restructuring charges	(133)		(121)
Equity losses of affiliates	(6)		(127)
Interest expense, net	(18)		(49)
Other, net	(59)		3
Income before income tax expense from continuing operations	585		380
Income tax expense from continuing operations	(206)		(152)
Net income from continuing operations	379		228
Net loss from discontinued operations, net of tax	(25)		(41)
Net income	354		187
Net income attributable to noncontrolling interests from continuing operations	(110)		(65)
Net loss attributable to noncontrolling interests from discontinued operations	22		27
Net income attributable to News Corporation stockholders	$	266	$	149

Exhibit 99.1

The following table details the Company's unaudited recast quarterly financial information for each of the four quarters in fiscal 2024 and the first quarter of fiscal 2025:

	For the three months ended
	September 30, 2023		December 31, 2023		March 31, 2024		June 30, 2024		September 30, 2024
	(in millions)
Revenues:
Dow Jones	$	537	$	584	$	544	$	566	$	552
Digital Real Estate Services	403		419		388		448		457
Book Publishing	525		550		506		512		546
News Media	566		582		556		566		541
Other	—		—		—		—		—
Total Revenues	$	2,031	$	2,135	$	1,994	$	2,092	$	2,096
Segment EBITDA:
Dow Jones	124		163		118		137		131
Digital Real Estate Services	122		147		104		135		140
Book Publishing	65		85		62		57		81
News Media	17		57		27		32		18
Other	(54)		(52)		(52)		(53)		(45)
Depreciation and amortization	(101)		(110)		(114)		(115)		(112)
Impairment and restructuring charges	(37)		(12)		(35)		(49)		(22)
Equity losses of affiliates	(2)		(1)		(2)		(1)		(3)
Interest expense, net	(8)		(7)		(3)		—		—
Other, net	(38)		21		(9)		(33)		22
Income before income tax expense from continuing operations	88		291		96		110		210
Income tax expense from continuing operations	(34)		(97)		(32)		(43)		(61)
Net income from continuing operations	54		194		64		67		149
Net income (loss) from discontinued operations, net of tax	4		(11)		(22)		4		(5)
Net income	$	58	$	183	$	42	$	71	$	144
Net income attributable to noncontrolling interests from continuing operations	(30)		(34)		(22)		(24)		(31)
Net loss attributable to noncontrolling interests from discontinued operations	2		7		10		3		6
Net income attributable to News Corporation stockholders	$	30	$	156	$	30	$	50	$	119