Fox (FOX) 10-Q 8 May 24 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Mar. 31, 2024	May 06, 2024
Document And Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	001-38776
Entity Registrant Name	FOX CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	83-1825597
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	852-7000
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
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001754301
Current Fiscal Year End Date	--06-30
Class A Common Stock
Document And Entity Information [Line Items]
Title of 12(b) Security	Class A Common Stock, par value $0.01 per share
Trading Symbol	FOXA
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		231,150,132
Class B Common Stock
Document And Entity Information [Line Items]
Title of 12(b) Security	Class B Common Stock, par value $0.01 per share
Trading Symbol	FOX
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		235,581,025

UNAUDITED CONSOLIDATED STATEMEN

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions		3 Months Ended		9 Months Ended
		Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Revenues		$ 3,447	$ 4,084	$ 10,888	$ 11,881
Operating expenses		(2,050)	(2,727)	(7,305)	(7,911)
Selling, general and administrative		(510)	(528)	(1,485)	(1,526)
Depreciation and amortization		(98)	(106)	(291)	(308)
Restructuring, impairment and other corporate matters		(15)	(893)	(24)	(1,015)
Interest expense, net		(55)	(55)	(169)	(183)
Non-operating other, net		242	174	39	293
Income (loss) before income tax (expense) benefit		961	(51)	1,653	1,231
Income tax (expense) benefit		(257)	1	(419)	(347)
Net income (loss)		704	(50)	1,234	884
Less: Net income attributable to noncontrolling interests	[1]	(38)	(4)	(52)	(20)
Net income (loss) attributable to Fox Corporation stockholders		$ 666	$ (54)	$ 1,182	$ 864
Weighted average shares:
Basic (in shares)		474	521	482	537
Diluted (in shares)		475	521	484	539
Net income (loss) attributable to Fox Corporation stockholders per share:
Basic (in dollars per share)		$ 1.41	$ (0.10)	$ 2.45	$ 1.61
Diluted (in dollars per share)		$ 1.40	$ (0.10)	$ 2.44	$ 1.60
[1] Net income attributable to noncontrolling interests includes $(1) million and $(4) million for the three months ended March 31, 2024 and 2023, respectively, and $(5) million and $(14) million for the nine months ended March 31, 2024 and 2023, respectively, relating to redeemable noncontrolling interests.

UNAUDITED CONSOLIDATED STATEM_2

UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income (loss)		$ 704	$ (50)	$ 1,234	$ 884
Other comprehensive income, net of tax:
Benefit plan adjustments and other		1	6	4	13
Other comprehensive income, net of tax		1	6	4	13
Comprehensive income (loss)		705	(44)	1,238	897
Less: Net income attributable to noncontrolling interests	[1]	(38)	(4)	(52)	(20)
Comprehensive income (loss) attributable to Fox Corporation stockholders		$ 667	$ (48)	$ 1,186	$ 877
[1] Net income attributable to noncontrolling interests includes $(1) million and $(4) million for the three months ended March 31, 2024 and 2023, respectively, and $(5) million and $(14) million for the nine months ended March 31, 2024 and 2023, respectively, relating to redeemable noncontrolling interests.

UNAUDITED CONSOLIDATED STATEM_3

UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income attributable to redeemable noncontrolling interests	$ (1)	$ (4)	$ (5)	$ (14)

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions		Mar. 31, 2024	Jun. 30, 2023
Current assets
Cash and cash equivalents		$ 3,791	$ 4,272
Receivables, net		2,481	2,177
Inventories, net		660	543
Other		246	265
Total current assets		7,178	7,257
Non-current assets
Property, plant and equipment, net		1,672	1,708
Intangible assets, net		3,048	3,084
Goodwill		3,544	3,559
Deferred tax assets		2,941	3,090
Other non-current assets		3,334	3,168
Total assets		21,717	21,866
Current liabilities
Borrowings		0	1,249
Accounts payable, accrued expenses and other current liabilities		2,217	2,514
Total current liabilities		2,217	3,763
Non-current liabilities
Borrowings		7,196	5,961
Other liabilities		1,379	1,484
Redeemable noncontrolling interests		260	213
Commitments and contingencies
Equity
Additional paid-in capital		7,768	8,253
Retained earnings		2,926	2,269
Accumulated other comprehensive loss		(145)	(149)
Total Fox Corporation stockholders’ equity		10,554	10,378
Noncontrolling interests		111	67
Total equity		10,665	10,445
Total liabilities and equity		21,717	21,866
Class A Common Stock
Equity
Common Stock	[1]	3	3
Class B Common Stock
Equity
Common Stock	[2]	$ 2	$ 2
[1] Class A Common Stock , $0.01 par value per share, 2,000,000,000 shares authorized, 232,561,357 shares and 262,899,364 shares issued and outstanding at par as of March 31, 2024 and June 30, 2023, respectively. Class B Common Stock , $0.01 par value per share, 1,000,000,000 shares authorized, 235,581,025 shares and 235,581,025 shares issued and outstanding at par as of March 31, 2024 and June 30, 2023, respectively.

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2024	Jun. 30, 2023
Class A Common Stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	2,000,000,000	2,000,000,000
Common stock, shares issued (in shares)	232,561,357	262,899,364
Common stock, shares outstanding (in shares)	232,561,357	262,899,364
Class B Common Stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	235,581,025	235,581,025
Common stock, shares outstanding (in shares)	235,581,025	235,581,025

UNAUDITED CONSOLIDATED STATEM_4

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
OPERATING ACTIVITIES
Net income	$ 1,234	$ 884
Adjustments to reconcile net income to cash provided by operating activities
Depreciation and amortization	291	308
Amortization of cable distribution investments	12	12
Equity-based compensation	69	55
Restructuring, impairment and other corporate matters	24	1,015
Non-operating other, net	(39)	(293)
Deferred income taxes	152	234
Change in operating assets and liabilities, net of acquisitions and dispositions
Receivables and other assets	(317)	(692)
Inventories net of programming payable	(220)	222
Accounts payable and accrued expenses	(178)	(200)
Other changes, net	(87)	(238)
Net cash provided by operating activities	941	1,307
INVESTING ACTIVITIES
Property, plant and equipment	(233)	(237)
Purchase of investments	(99)	(55)
Other investing activities, net	8	(26)
Net cash used in investing activities	(324)	(318)
FINANCING ACTIVITIES
Repayment of borrowings	(1,250)	0
Borrowings	1,232	0
Repurchase of shares	(750)	(1,750)
Dividends paid and distributions	(272)	(291)
Sale of subsidiary noncontrolling interest	0	25
Other financing activities, net	(58)	(27)
Net cash used in financing activities	(1,098)	(2,043)
Net decrease in cash and cash equivalents	(481)	(1,054)
Cash and cash equivalents, beginning of year	4,272	5,200
Cash and cash equivalents, end of period	$ 3,791	$ 4,146

UNAUDITED CONSOLIDATED STATEM_5

UNAUDITED CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Millions	Total	Class A Common Stock	Class B Common Stock	Total Fox Corporation Stockholders’ Equity	Common Stock Class A Common Stock	Common Stock Class B Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Noncontrolling Interests	[1]
Beginning balance (in shares) at Jun. 30, 2022					308,000,000	243,000,000
Beginning balance at Jun. 30, 2022	$ 11,375			$ 11,339	$ 3	$ 3	$ 9,098	$ 2,461	$ (226)	$ 36
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	898			864				864		34
Other comprehensive income	13			13					13
Dividends	(265)			(265)				(265)
Shares repurchased (in shares)					(38,000,000)	(8,000,000)
Shares repurchased	(1,763)			(1,763)			(763)	(1,000)
Other (in shares)						1,000,000
Other	(3)			(3)		$ (1)	26	(28)
Ending balance (in shares) at Mar. 31, 2023					270,000,000	236,000,000
Ending balance at Mar. 31, 2023	10,255			10,185	$ 3	$ 2	8,361	2,032	(213)	70
Beginning balance (in shares) at Dec. 31, 2022					298,000,000	238,000,000
Beginning balance at Dec. 31, 2022	11,676			11,607	$ 3	$ 2	8,836	2,985	(219)	69
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(46)			(54)				(54)		8
Other comprehensive income	6			6					6
Dividends	(128)			(128)				(128)
Shares repurchased (in shares)					(27,000,000)	(3,000,000)
Shares repurchased	(1,263)			(1,263)			(502)	(761)
Other (in shares)					(1,000,000)	1,000,000
Other	10			17			27	(10)		(7)
Ending balance (in shares) at Mar. 31, 2023					270,000,000	236,000,000
Ending balance at Mar. 31, 2023	10,255			10,185	$ 3	$ 2	8,361	2,032	(213)	70
Beginning balance (in shares) at Jun. 30, 2023		262,899,364	235,581,025		263,000,000	235,000,000
Beginning balance at Jun. 30, 2023	10,445			10,378	$ 3	$ 2	8,253	2,269	(149)	67
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	1,239			1,182				1,182		57
Other comprehensive income	4			4					4
Dividends	(250)			(250)				(250)
Shares repurchased (in shares)		(32,000,000)			(32,000,000)
Shares repurchased	(758)	$ (750)		(758)			(536)	(222)
Other (in shares)					2,000,000
Other	(15)			(2)			51	(53)		(13)
Ending balance (in shares) at Mar. 31, 2024		232,561,357	235,581,025		233,000,000	235,000,000
Ending balance at Mar. 31, 2024	10,665			10,554	$ 3	$ 2	7,768	2,926	(145)	111
Beginning balance (in shares) at Dec. 31, 2023					241,000,000	235,000,000
Beginning balance at Dec. 31, 2023	10,325			10,252	$ 3	$ 2	7,879	2,514	(146)	73
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	705			666				666		39
Other comprehensive income	1			1					1
Dividends	(123)			(123)				(123)
Shares repurchased (in shares)					(8,000,000)
Shares repurchased	(253)			(253)			(139)	(114)
Other	10			11			28	(17)		(1)
Ending balance (in shares) at Mar. 31, 2024		232,561,357	235,581,025		233,000,000	235,000,000
Ending balance at Mar. 31, 2024	$ 10,665			$ 10,554	$ 3	$ 2	$ 7,768	$ 2,926	$ (145)	$ 111
[1] Excludes Redeemable noncontrolling interests which are reflected in temporary equity (See Note 4—Fair Value under the heading “Redeemable Noncontrolling Interests”).

Description of Business and Bas

Description of Business and Basis of Presentation	9 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Presentation	DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION Fox Corporation (“FOX” or the “Company”) is a news, sports and entertainment company, which manages and reports its businesses in the following segments: Cable Network Programming, Television and Other, Corporate and Eliminations. The accompanying Unaudited Consolidated Financial Statements of FOX have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. In the opinion of management, all adjustments consisting only of normal recurring adjustments necessary for a fair presentation have been reflected in these Unaudited Consolidated Financial Statements. Operating results for the interim periods presented are not necessarily indicative of the results that may be expected for the fiscal year ending June 30, 2024. The preparation of the Company’s Unaudited Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts that are reported in the Unaudited Consolidated Financial Statements and accompanying disclosures. Although these estimates are based on management’s best knowledge of current events and actions that the Company may undertake in the future, actual results may differ from those estimates. These interim Unaudited Consolidated Financial Statements and notes thereto should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2023 as filed with the Securities and Exchange Commission on August 11, 2023 (the “2023 Form 10-K”). All significant intercompany transactions and accounts within the Company’s consolidated businesses have been eliminated. Investments in and advances to entities or joint ventures in which the Company has significant influence, but less than a controlling financial interest, are accounted for using the equity method. Significant influence generally exists when the Company owns an interest between 20% and 50%. Equity securities in which the Company has no significant influence (generally less than a 20% ownership interest) with readily determinable fair values are accounted for at fair value based on quoted market prices. Equity securities without readily determinable fair values are accounted for either at fair value or using the measurement alternative method which is at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. All gains and losses on investments in equity securities are recognized in the Unaudited Consolidated Statements of Operations. The Company’s fiscal year ends on June 30 (“fiscal”) of each year. Certain fiscal 2023 amounts have been reclassified to conform to the fiscal 2024 presentation. The unaudited and audited consolidated financial statements are referred to as the “Financial Statements” herein. The unaudited consolidated statements of operations are referred to as the “Statements of Operations” herein. The unaudited and audited consolidated balance sheets are referred to as the “Balance Sheets” herein.

Acquisitions, Disposals and Oth

Acquisitions, Disposals and Other Transactions	9 Months Ended
	Mar. 31, 2024
Business Combination and Asset Acquisition [Abstract]
Acquisitions, Disposals and Other Transactions	ACQUISITIONS, DISPOSALS AND OTHER TRANSACTIONS The Company’s acquisitions support the Company’s strategy to strengthen its core brands, grow its digital businesses and selectively enhance production capabilities for its digital and linear platforms. During the nine months ended March 31, 2024 and 2023, the Company made no acquisitions. On January 12, 2024, the United Football League (the “UFL”) was launched as a professional spring football league that combines the legacy operations of the United States Football League (the “USFL”), a majority-owned consolidated subsidiary of FOX, and XFL, a third-party company. In connection with the launch of the UFL, the Company deconsolidated the operations of USFL and contributed the USFL net assets to the UFL. As consideration for the net assets contributed, the Company received an ownership interest in the UFL which was initially recorded at fair value. The equity method investment is included in Other non-current assets in the Balance Sheets. As a result of this transaction, the Company recorded a gain of approximately $170 million in Non-operating other, net in the Statements of Operations for the three and nine months ended March 31, 2024 (See Note 11—Additional Financial Information under the heading “Non-Operating Other, net”). The Company owns approximately 42% of the UFL. On February 6, 2024, FOX announced that it would enter into a joint venture with ESPN, a subsidiary of The Walt Disney Company, and Warner Bros. Discovery to form a digital distribution platform focused on sports. Each company is expected to own one-third of the joint venture, have equal board representation and license their sports networks to the joint venture on a non-exclusive basis. The subscription-based streaming service is expected to launch in the fall of 2024.

Inventories, Net

Inventories, Net	9 Months Ended
	Mar. 31, 2024
Inventory Disclosure [Abstract]
Inventories, Net	INVENTORIES, NET The Company’s inventories were comprised of the following: As of March 31, As of June 30, (in millions) Licensed programming, including prepaid sports rights $ 867 $ 720 Owned programming 485 465 Total inventories, net 1,352 1,185 Less: current portion of inventories, net (660) (543) Total non-current inventories, net $ 692 $ 642 Owned programming Released $ 226 $ 256 In-process or other 259 209 Total $ 485 $ 465 The following table presents the aggregate amortization expense related to Inventories, net included in Operating expenses in the Statements of Operations: For the three months ended March 31, For the nine months ended March 31, 2024 2023 2024 2023 (in millions) Total amortization expense $ 1,134 $ 1,781 $ 4,596 $ 5,201 The Company evaluates the recoverability of unamortized programming and production costs, included within Inventories, net in the Balance Sheets, using expected future cash flows. The Company has determined that its unamortized production costs related to certain television series are not recoverable and therefore recognized a write-down at the Television segment of approximately $30 million and $10 million which was recorded in Operating expenses in the Statements of Operations for the three and nine months ended March 31, 2024 and 2023, respectively.

Fair Value

Fair Value	9 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value	FAIR VALUE Fair value measurements are required to be disclosed using a three-tiered fair value hierarchy which distinguishes market participant assumptions into the following categories: (i) inputs that are quoted prices in active markets (“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) inputs that require the entity to use its own assumptions about market participant assumptions (“Level 3”). The following tables present information about financial assets and redeemable noncontrolling interests carried at fair value on a recurring basis: Fair value measurements As of March 31, 2024 Total Level 1 Level 2 Level 3 (in millions) Investments in equity securities $ 868 $ 868 (a) $ — $ — Redeemable noncontrolling interests (260) — — (260) (b) Total $ 608 $ 868 $ — $ (260) Fair value measurements As of June 30, 2023 Total Level 1 Level 2 Level 3 (in millions) Investments in equity securities $ 884 $ 884 (a) $ — $ — Redeemable noncontrolling interests (213) — — (213) (b) Total $ 671 $ 884 $ — $ (213) (a) The investments categorized as Level 1 primarily represent an investment in equity securities of Flutter Entertainment plc (“Flutter”) with a readily determinable fair value. (b) The Company utilizes both the market and income approach valuation techniques for its Level 3 fair value measures. Inputs to such measures could include observable market data obtained from independent sources such as broker quotes and recent market transactions for similar assets. It is the Company’s policy to maximize the use of observable inputs in the measurement of its Level 3 fair value measurements. To the extent observable inputs are not available, the Company utilizes unobservable inputs based upon the assumptions market participants would use in valuing the redeemable noncontrolling interests. Examples of utilized unobservable inputs are future cash flows and long-term growth rates. Redeemable Noncontrolling Interests The redeemable noncontrolling interests recorded are put rights held by minority shareholders in Credible Labs Inc. (“Credible”) and an entertainment production company. The changes in redeemable noncontrolling interests classified as Level 3 measurements were as follows: For the three months ended March 31, For the nine months ended March 31, 2024 2023 2024 2023 (in millions) Beginning of period $ (243) $ (196) $ (213) $ (188) Net loss 1 4 5 14 Accretion and other (18) (8) (52) (26) End of period $ (260) $ (200) $ (260) $ (200) The put right held by the Credible minority shareholder will become exercisable in fiscal 2025. The put right held by the entertainment production company’s minority shareholder will become exercisable in fiscal 2027. Financial Instruments The carrying value of the Company’s financial instruments exclusive of borrowings, such as cash and cash equivalents, receivables, payables and investments accounted for using the measurement alternative method, approximates fair value. As of March 31, As of June 30, (in millions) Borrowings Fair value $ 7,057 $ 6,895 Carrying value $ 7,196 $ 7,210 Fair value is generally determined by reference to market values resulting from trading on a national securities exchange or in an over-the-counter market (a Level 1 measurement). Concentrations of Credit Risk Cash and cash equivalents are maintained with several 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. Generally, the Company does not require collateral to secure receivables. As of March 31, 2024, the Company had no individual customers that accounted for 10% or more of the Company’s receivables. As of June 30, 2023, the Company had one customer that accounted for approximately 11% of the Company’s receivables.

Borrowings

Borrowings	9 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Borrowings	BORROWINGS Borrowings include senior notes (See Note 9—Borrowings in the 2023 Form 10-K under the heading “Public Debt – Senior Notes Issued”). In October 2023, the Company issued $1.25 billion of 6.500% senior notes due 2033. In addition, the Company is party to a credit agreement providing a $1.0 billion unsecured revolving credit facility with a sub-limit of $150 million available for the issuance of letters of credit and a maturity date of June 2028 (See Note 9—Borrowings in the 2023 Form 10-K under the heading “Revolving Credit Agreement”). As of March 31, 2024, there were no borrowings outstanding under the revolving credit agreement. In January 2024, $1.25 billion of 4.030% senior notes matured and were repaid in full.

Stockholders Equity

Stockholders Equity	9 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Stockholders' Equity	STOCKHOLDERS’ EQUITY Stock Repurchase Program The Company’s Board of Directors has authorized a stock repurchase program under which the Company can repurchase $7 billion of Class A Common Stock, par value $0.01 per share (the “Class A Common Stock”), and Class B Common Stock, par value $0.01 per share (the “Class B Common Stock”) . The program has no time limit and may be modified, suspended or discontinued at any time. In connection with the stock repurchase program, the Company entered into an accelerated share repurchase (“ASR”) agreement in February 2023, under which the Company paid a third-party financial institution $1 billion and received an initial delivery of approximately 22.5 million shares of Class A Common Stock, representing 80% of the shares expected to be repurchased under the ASR agreement, at a price of $35.54 per share, which was the Nasdaq Global Select Market (“Nasdaq”) closing share price of the Class A Common Stock on February 8, 2023. Upon settlement of the ASR agreement in August 2023, the Company received a final delivery of approximately 7.8 million shares of Class A Common Stock. The final number of shares purchased under the ASR agreement was determined using a price of $33.03 per share (the volume- weighted average market price of the Class A Common Stock on Nasdaq during the term of the ASR agreement less a discount). The Company accounted for the ASR agreement as two separate transactions. The initial delivery of Class A Common Stock was accounted for as a treasury stock transaction recorded on the acquisition date. The final settlement of Class A Common Stock was accounted for as a forward contract indexed to the Class A Common Stock and qualified as an equity transaction. In total, the Company repurchased approximately 32 million shares of Class A Common Stock for approximately $750 million during the nine months ended March 31, 2024. Repurchased shares are retired and reduce the number of shares issued and outstanding. The Company allocates the amount of the repurchase price over par value between additional paid-in capital and retained earnings. As of March 31, 2024, the Company’s remaining stock repurchase authorization was approximately $1.65 billion. Subsequent to March 31, 2024, the Company repurchased approximately 1.6 million shares of Class A Common Stock for approximately $50 million. Dividends The following table summarizes the dividends declared per share on both the Company’s Class A Common Stock and Class B Common Stock: For the three months ended March 31, For the nine months ended March 31, 2024 2023 2024 2023 Cash dividend per share $ 0.26 $ 0.25 $ 0.52 $ 0.50 The Company declared a semi-annual dividend of $0.26 per share on both the Class A Common Stock and the Class B Common Stock during the three months ended March 31, 2024, which was paid on March 26, 2024 to stockholders of record on March 6, 2024.

Equity-Based Compensation

Equity-Based Compensation	9 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Equity-Based Compensation	EQUITY-BASED COMPENSATION The Company has equity-based compensation plans, including the Fox Corporation 2019 Shareholder Alignment Plan (See Note 12—Equity-Based Compensation in the 2023 Form 10-K). The following table summarizes the Company’s equity-based compensation: For the three months ended March 31, For the nine months ended March 31, 2024 2023 2024 2023 (in millions) Equity-based compensation $ 21 $ 23 $ 69 $ 55 Intrinsic value of all settled equity-based awards $ 2 $ 1 $ 74 $ 77 Tax benefit on settled equity-based awards $ — $ 1 $ 11 $ 14 The Company’s equity-based awards are settled in Class A Common Stock. As of March 31, 2024, the Company’s total estimated compensation cost, not yet recognized, related to non-vested equity awards held by the Company’s employees was approximately $100 million and is expected to be recognized over a weighted average period between one As of March 31, 2024 and 2023, the Company had approximately 5 million stock options outstanding. The computation of diluted earnings per share did not include stock options outstanding during each period presented if their inclusion would have been antidilutive, and, for those shares that are contingently issuable, all necessary conditions have not been satisfied for the periods presented. Awards Vested and Granted Restricted Stock Units During the nine months ended March 31, 2024 and 2023 , a pproximately 1.9 million and 1.5 million restricted stock units (“RSUs”) vested, respectively, and approximately 2.0 million RSUs were granted in each period. These RSUs generally vest in equal annual installments over a three-year period subject to participants’ continued employment with the Company. Performance-Based Stock Options During the nine months ended March 31, 2024 and 2023, the Company granted approximately 4 million performance-based stock options, in each period, which will vest in full at the end of a three-year performance period if the market condition is met, and have a term of seven years thereafter.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Commitments The Company has commitments under certain firm contractual arrangements (“firm commitments”) to make future payments. These firm commitments secure the future rights to various assets and services to be used in the normal course of operations. The total firm commitments and future debt payments as of March 31, 2024 and June 30, 2023, remained consistent at approximately $39 billion. Contingencies The Company establishes an accrued liability for legal claims and indemnification claims when the Company 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. Any fees, expenses, fines, penalties, judgments or settlements which might be incurred by the Company in connection with the various proceedings could affect the Company’s results of operations and financial condition. For the contingencies disclosed below for which there is at least a reasonable possibility that a loss may be incurred, other than the accrual provided, the Company was unable to estimate the amount of loss or range of loss. FOX News The Company’s FOX News business and certain of its current and former employees have been subject to allegations of sexual harassment and discrimination on the basis of sex and race. The Company has resolved many of these claims and is contesting other claims in litigation. The Company has also received regulatory and investigative inquiries relating to these matters. To date, none of the amounts paid in settlements or reserved for pending or future claims is material, individually or in the aggregate, to the Company. The amount of additional liability, if any, that may result from these or related matters cannot be estimated at this time. However, the Company does not currently anticipate that the ultimate resolution of any such pending matters will have a material adverse effect on its business, financial condition, results of operations or cash flows. U.K. Newspaper Matters Indemnity In connection with the separation of Twenty-First Century Fox, Inc. (“21CF”) and News Corporation in June 2013 (the “21CF News Corporation Separation”), 21CF agreed to indemnify News Corporation, on an after-tax basis, for payments made after the 21CF News Corporation Separation arising out of civil claims and investigations relating to phone hacking, illegal data access and inappropriate payments to public officials that occurred at subsidiaries of News Corporation before the 21CF News Corporation Separation, as well as legal and professional fees and expenses paid in connection with the related criminal matters, other than fees, expenses and costs relating to employees who are not (i) directors, officers or certain designated employees or (ii) with respect to civil matters, co-defendants with News Corporation (the “U.K. Newspaper Matters Indemnity”). In accordance with the Separation Agreement (as defined in Note 1—Description of Business and Basis of Presentation in the 2023 Form 10-K under the heading “The Transaction”), the Company assumed certain costs and liabilities related to the U.K. Newspaper Matters Indemnity. The liability recorded in the Balance Sheets related to the indemnity was approximately $115 million as of June 30, 2023 and approximately $70 million as of March 31, 2024. Defamation and Disparagement Claims From time to time, the Company and its news businesses, including FOX News Media and the FOX Television Stations, and their employees are subject to lawsuits alleging defamation or disparagement. These include lawsuits filed by Smartmatic USA Corp. and certain of its affiliates (collectively, “Smartmatic”) in February 2021 seeking $2.7 billion in damages and Dominion Voting Systems, Inc. and certain of its affiliates (collectively, “Dominion”) in March 2021 seeking $1.6 billion in damages. On March 31, 2023, the court in the Dominion case issued its rulings on summary judgment motions that were unfavorable to the Company. Following these rulings, on April 18, 2023, the Company and its subsidiary, Fox News Network, LLC, entered into a Release and Settlement Agreement with Dominion pursuant to which the parties agreed to resolve the lawsuits among them. The Company paid an aggregate of approximately $800 million to settle this and a related lawsuit in April 2023. The Company continues to believe the Smartmatic and other pending lawsuits alleging defamation or disparagement are without merit and intends to defend against them vigorously, including through any appeals. Discovery in the Smartmatic case, including depositions and expert discovery, remains ongoing, and summary judgment and other key motions will follow. At this time, a trial in the Smartmatic lawsuit is not expected to commence until 2025. The Company is unable to predict the final outcome of these matters and has determined that a loss in the Smartmatic case is neither probable nor reasonably estimable. There can be no assurance that the ultimate resolution of these pending matters will not have a material adverse effect on the Company’s business, financial condition, results of operations or cash flows. On April 11, 2023 and April 20, 2023, stockholders of the Company filed derivative lawsuits in the Delaware Court of Chancery against certain directors of the Company under the captions Schwarz v. Murdoch et al., C.A. No. 2023-0418 (Del. Ch.) and Greenberg et al. v. Murdoch et al., C.A. No. 2023-0440 (Del. Ch.) . The Delaware Court of Chancery consolidated the lawsuits into one matter captioned In re Fox Corporation Deriv. Litig., C.A. No. 2023-0418 (Del.Ch.) . Two additional derivative lawsuits were subsequently filed by the Company’s stockholders in the same court on September 12, 2023 against certain directors and officers of the Company and are part of the consolidated lawsuit. Each of the lawsuits names the Company as a nominal defendant. The complaints allege that certain directors and officers, as applicable, breached their fiduciary duties by allowing the Company’s news channel to air allegations regarding election fraud in connection with the 2020 U.S. Presidential election, which resulted in significant defamation litigation. The plaintiffs seek orders awarding damages in favor of the Company; directing the Company to reform and improve its policies and procedures; and awarding the plaintiffs attorneys' fees and costs. The Company intends to vigorously contest the lawsuit. Actions and Claims Arising from Alleged Misuse of Personal Information Tubi, Inc., a wholly owned subsidiary of the Company (“Tubi”), is from time to time a party to actions and arbitration claims arising from its alleged misuse of personal information. In June 2023, a putative class action lawsuit titled Campos v. Tubi was filed with the United States District Court for the Northern District of Illinois, Eastern Division, alleging that Tubi shared viewer information with third parties in violation of the privacy protection provisions of the federal Video Privacy Protection Act. In February 2024, the District Court denied Tubi’s motion to compel arbitration and motion to dismiss, and Tubi is appealing those rulings to the United States Court of Appeals for the Seventh Circuit. Tubi and the Company intend to vigorously defend against the lawsuit. The Company is unable to predict the final outcome of this matter and has determined that a loss in the case is neither probable nor reasonably estimable. There can be no assurance that the ultimate resolution of this pending matter will not have a material adverse effect on the Company’s business, financial condition, results of operations or cash flows. Other The Company’s operations are subject to tax primarily in various domestic jurisdictions and as a matter of course, the Company is regularly audited by federal and state tax authorities. The Company believes it has appropriately accrued for the expected outcome of all pending tax matters and does not currently anticipate that the ultimate resolution of pending tax matters will have a material adverse effect on its consolidated financial condition, future results of operations or liquidity. Each member of the 21CF consolidated group, which includes 21CF, the Company (prior to the Transaction (as defined in Note 1—Description of Business and Basis of Presentation in the 2023 Form 10-K under the heading “The Transaction”)) and 21CF’s other subsidiaries, is jointly and severally liable for the U.S. federal income and, in certain jurisdictions, state tax liabilities of each other member of the consolidated group. Consequently, the Company could be liable in the event any such liability is incurred, and not discharged, by any other member of the 21CF consolidated group. The tax matters agreement entered into in connection with the Separation (as defined in Note 1—Description of Business and Basis of Presentation in the 2023 Form 10-K under the heading “The Transaction”) requires 21CF and/or The Walt Disney Company to indemnify the Company for any such liability. Disputes or assessments could arise during future audits by the Internal Revenue Service in amounts that the Company cannot quantify.

Pension and Other Postretiremen

Pension and Other Postretirement Benefits	9 Months Ended
	Mar. 31, 2024
Retirement Benefits [Abstract]
Pension and Other Postretirement Benefits	PENSION AND OTHER POSTRETIREMENT BENEFITS The Company participates in and/or sponsors various pension, savings and postretirement benefit plans. Pension plans and postretirement benefit plans are closed to new participants with the exception of a small group covered by collective bargaining agreements. The net periodic benefit cost was $13 million and $16 million for the three months ended March 31, 2024 and 2023, respectively, and $40 million and $48 million for the nine months ended March 31, 2024 and

Segment Information

Segment Information	9 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Segment Information	SEGMENT INFORMATION The Company is a news, sports and entertainment company, which manages and reports its businesses in the following segments: • Cable Network Programming , which produces and licenses news and sports content distributed through traditional cable television systems, direct broadcast satellite operators and telecommunication companies, virtual multi-channel video programming distributors and other digital platforms, primarily in the U.S. • Television , which produces, acquires, markets and distributes programming through the FOX broadcast network, advertising supported video-on-demand service Tubi, 29 full power broadcast television stations, including 11 duopolies, and other digital platforms, primarily in the U.S. Eighteen of the broadcast television stations are affiliated with the FOX Network, 10 are affiliated with MyNetworkTV and one is an independent station. The segment also includes various production companies that produce content for the Company and third parties. • Other, Corporate and Eliminations , which principally consists of the FOX Studio Lot, Credible, corporate overhead costs and intracompany eliminations. The FOX Studio Lot, located in Los Angeles, California, provides television and film production services along with office space, studio operation services and includes all operations of the facility. Credible is a U.S. consumer finance marketplace. The Company’s operating segments have been determined in accordance with the Company’s internal management structure, which is organized based on operating activities. The Company evaluates performance based upon several factors, of which the primary financial measure is segment operating income before depreciation and amortization, or Segment EBITDA. Due to the integrated nature of these operating segments, estimates and judgments are made in allocating certain assets, revenues and expenses. Segment EBITDA is defined as Revenues less Operating expenses and Selling, general and administrative expenses. Segment EBITDA does not include: Amortization of cable distribution investments, Depreciation and amortization, Restructuring, impairment and other corporate matters, Interest expense, net, Non-operating other, net and Income tax expense. Management believes that Segment EBITDA is an appropriate measure for evaluating the operating performance of the Company’s business segments because it is the primary measure used by the Company’s chief operating decision maker to evaluate the performance of and allocate resources to the Company’s businesses. The following tables set forth the Company’s Revenues and Segment EBITDA for the three and nine months ended March 31, 2024 and 2023: For the three months ended March 31, For the nine months ended March 31, 2024 2023 2024 2023 (in millions) Revenues Cable Network Programming $ 1,472 $ 1,570 $ 4,517 $ 4,633 Television 1,938 2,475 6,260 7,123 Other, Corporate and Eliminations 37 39 111 125 Total revenues $ 3,447 $ 4,084 $ 10,888 $ 11,881 Segment EBITDA Cable Network Programming $ 819 $ 792 $ 1,990 $ 1,887 Television 145 117 358 782 Other, Corporate and Eliminations (73) (76) (238) (213) Amortization of cable distribution investments (4) (4) (12) (12) Depreciation and amortization (98) (106) (291) (308) Restructuring, impairment and other corporate matters (15) (893) (24) (1,015) Interest expense, net (55) (55) (169) (183) Non-operating other, net 242 174 39 293 Income (loss) before income tax (expense) benefit 961 (51) 1,653 1,231 Income tax (expense) benefit (257) 1 (419) (347) Net income (loss) 704 (50) 1,234 884 Less: Net income attributable to noncontrolling interests (38) (4) (52) (20) Net income (loss) attributable to Fox Corporation stockholders $ 666 $ (54) $ 1,182 $ 864 Revenues by Segment by Component For the three months ended March 31, For the nine months ended March 31, 2024 2023 2024 2023 (in millions) Cable Network Programming Affiliate fee $ 1,104 $ 1,093 $ 3,140 $ 3,148 Advertising 296 316 934 1,083 Other 72 161 443 402 Total Cable Network Programming revenues 1,472 1,570 4,517 4,633 Television Advertising 939 1,559 3,503 4,516 Affiliate fee 834 764 2,325 2,132 Other 165 152 432 475 Total Television revenues 1,938 2,475 6,260 7,123 Other, Corporate and Eliminations 37 39 111 125 Total revenues $ 3,447 $ 4,084 $ 10,888 $ 11,881 For the three months ended March 31, For the nine months ended March 31, 2024 2023 2024 2023 (in millions) Depreciation and amortization Cable Network Programming $ 20 $ 18 $ 57 $ 52 Television 29 38 86 97 Other, Corporate and Eliminations 49 50 148 159 Total depreciation and amortization $ 98 $ 106 $ 291 $ 308 As of March 31, As of June 30, (in millions) Assets Cable Network Programming $ 2,778 $ 2,658 Television 8,111 7,803 Other, Corporate and Eliminations 9,578 10,371 Investments 1,250 1,034 Total assets $ 21,717 $ 21,866

Additional Financial Informatio

Additional Financial Information	9 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Additional Financial Information	ADDITIONAL FINANCIAL INFORMATION Restructuring, Impairment and Other Corporate Matters The following table sets forth the components of Restructuring, impairment and other corporate matters included in the Statements of Operations: For the three months ended March 31, For the nine months ended March 31, 2024 2023 2024 2023 (in millions) Restructuring charges $ — $ (1) $ — $ (12) Other corporate matters U.K. Newspaper Matters Indemnity (a) (3) (24) (15) (106) Legal settlement costs (b) — (850) (4) (850) Other (12) (18) (5) (47) Total restructuring, impairment and other corporate matters $ (15) $ (893) $ (24) $ (1,015) (a) See Note 8—Commitments and Contingencies under the heading “U.K. Newspaper Matters Indemnity.” The decrease for the nine months ended March 31, 2024, as compared to the corresponding period of fiscal 2023, was attributable to an increase in the number of civil claims submitted in fiscal 2023 in advance of the September 30, 2022 cutoff date set by the judge for this phase of the litigation. (b) See Note 8—Commitments and Contingencies under the heading “Defamation and Disparagement Claims.” Interest Expense, net The following table sets forth the components of Interest expense, net included in the Statements of Operations: For the three months ended March 31, For the nine months ended March 31, 2024 2023 2024 2023 (in millions) Interest expense $ (99) $ (86) $ (309) $ (262) Interest income 44 31 140 79 Total interest expense, net $ (55) $ (55) $ (169) $ (183) Non-Operating Other, net The following table sets forth the components of Non-operating other, net included in the Statements of Operations: For the three months ended March 31, For the nine months ended March 31, 2024 2023 2024 2023 (in millions) Gain on sale of assets (a) $ 167 $ — $ 167 $ — Net gains (losses) on investments in equity securities (b) 81 183 (110) 320 Other (6) (9) (18) (27) Total non-operating other, net $ 242 $ 174 $ 39 $ 293 (a) See Note 2—Acquisitions, Disposals and Other Transactions. (b) Net gains (losses) on investments in equity securities includes the gains (losses) related to the change in fair value of the Company’s investment in Flutter (See Note 4—Fair Value), equity earnings (losses) of affiliates, and, for the nine months ended March 31, 2024, the losses related to the Company’s investment in a live streaming mobile platform. As a result of an additional round of financing at a lower valuation, a write-down was recognized for this investment which is accounted for using the measurement alternative method. Other Non-Current Assets The following table sets forth the components of Other non-current assets included in the Balance Sheets: As of March 31, As of June 30, (in millions) Investments (a) $ 1,250 $ 1,034 Operating lease assets 895 947 Inventories, net 692 642 Grantor Trust 247 276 Other 250 269 Total other non-current assets $ 3,334 $ 3,168 (a) Includes investments accounted for at fair value on a recurring basis of $868 million and $884 million as of March 31, 2024 and June 30, 2023, respectively (See Note 4—Fair Value). Accounts Payable, Accrued Expenses and Other Current Liabilities The following table sets forth the components of Accounts payable, accrued expenses and other current liabilities included in the Balance Sheets: As of March 31, As of June 30, (in millions) Accrued expenses $ 873 $ 1,028 Programming payable 754 785 Deferred revenue 168 160 Operating lease liabilities 73 72 Other current liabilities 349 469 Total accounts payable, accrued expenses and other current liabilities $ 2,217 $ 2,514 Other Liabilities The following table sets forth the components of Other liabilities included in the Balance Sheets: As of March 31, As of June 30, (in millions) Non-current operating lease liabilities $ 870 $ 925 Accrued non-current pension/postretirement liabilities 287 361 Other non-current liabilities 222 198 Total other liabilities $ 1,379 $ 1,484 Future Performance Obligations As of March 31, 2024, approximately $5.2 billion of revenues are expected to be recognized primarily over the next one to three years. The Company’s most significant remaining performance obligations relate to affiliate contracts, sports advertising contracts and content licensing contracts with fixed fees. The amount disclosed does not include (i) revenues related to performance obligations that are part of a contract whose original expected duration is one year or less, (ii) revenues that are in the form of sales- or usage-based royalties and (iii) revenues related to performance obligations for which the Company elects to recognize revenue in the amount it has a right to invoice. Supplemental Information For the nine months ended March 31, 2024 2023 (in millions) Supplemental cash flows information Cash paid for interest $ (338) $ (324) Cash paid for income taxes $ (148) $ (239)

Description of Business and B_2

Description of Business and Basis of Presentation (Policies)	9 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Use of Estimates	The preparation of the Company’s Unaudited Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts that are reported in the Unaudited Consolidated Financial Statements and accompanying disclosures. Although these estimates are based on management’s best knowledge of current events and actions that the Company may undertake in the future, actual results may differ from those estimates.
Principles of Consolidation	All significant intercompany transactions and accounts within the Company’s consolidated businesses have been eliminated. Investments in and advances to entities or joint ventures in which the Company has significant influence, but less than a controlling financial interest, are accounted for using the equity method. Significant influence generally exists when the Company owns an interest between 20% and 50%. Equity securities in which the Company has no significant influence (generally less than a 20% ownership interest) with readily determinable fair values are accounted for at fair value based on quoted market prices. Equity securities without readily determinable fair values are accounted for either at fair value or using the measurement alternative method which is at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. All gains and losses on investments in equity securities are recognized in the Unaudited Consolidated Statements of Operations.
Reclassifications and Adjustments	The Company’s fiscal year ends on June 30 (“fiscal”) of each year. Certain fiscal 2023 amounts have been reclassified to conform to the fiscal 2024 presentation.
Concentrations of Credit Risk	Concentrations of Credit Risk Cash and cash equivalents are maintained with several 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.

Inventories, Net (Tables)

Inventories, Net (Tables)	9 Months Ended
	Mar. 31, 2024
Inventory Disclosure [Abstract]
Schedule of Inventories, Net	The Company’s inventories were comprised of the following: As of March 31, As of June 30, (in millions) Licensed programming, including prepaid sports rights $ 867 $ 720 Owned programming 485 465 Total inventories, net 1,352 1,185 Less: current portion of inventories, net (660) (543) Total non-current inventories, net $ 692 $ 642 Owned programming Released $ 226 $ 256 In-process or other 259 209 Total $ 485 $ 465
Schedule of Inventories Aggregate Amortization Expense	The following table presents the aggregate amortization expense related to Inventories, net included in Operating expenses in the Statements of Operations: For the three months ended March 31, For the nine months ended March 31, 2024 2023 2024 2023 (in millions) Total amortization expense $ 1,134 $ 1,781 $ 4,596 $ 5,201

Fair Value (Tables)

Fair Value (Tables)	9 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value of Financial Assets (Liabilities) and the Level Used to Measure Them	The following tables present information about financial assets and redeemable noncontrolling interests carried at fair value on a recurring basis: Fair value measurements As of March 31, 2024 Total Level 1 Level 2 Level 3 (in millions) Investments in equity securities $ 868 $ 868 (a) $ — $ — Redeemable noncontrolling interests (260) — — (260) (b) Total $ 608 $ 868 $ — $ (260) Fair value measurements As of June 30, 2023 Total Level 1 Level 2 Level 3 (in millions) Investments in equity securities $ 884 $ 884 (a) $ — $ — Redeemable noncontrolling interests (213) — — (213) (b) Total $ 671 $ 884 $ — $ (213) (a) The investments categorized as Level 1 primarily represent an investment in equity securities of Flutter Entertainment plc (“Flutter”) with a readily determinable fair value. (b) The Company utilizes both the market and income approach valuation techniques for its Level 3 fair value measures. Inputs to such measures could include observable market data obtained from independent sources such as broker quotes and recent market transactions for similar assets. It is the Company’s policy to maximize the use of observable inputs in the measurement of its Level 3 fair value measurements. To the extent observable inputs are not available, the Company utilizes unobservable inputs based upon the assumptions market participants would use in valuing the redeemable noncontrolling interests. Examples of utilized unobservable inputs are future cash flows and long-term growth rates.
Schedule of Changes in Fair Value of Financial Liabilities on a Recurring Basis Using Level 3	The changes in redeemable noncontrolling interests classified as Level 3 measurements were as follows: For the three months ended March 31, For the nine months ended March 31, 2024 2023 2024 2023 (in millions) Beginning of period $ (243) $ (196) $ (213) $ (188) Net loss 1 4 5 14 Accretion and other (18) (8) (52) (26) End of period $ (260) $ (200) $ (260) $ (200)
Schedule of Fair Value and Carrying Value of Borrowings	As of March 31, As of June 30, (in millions) Borrowings Fair value $ 7,057 $ 6,895 Carrying value $ 7,196 $ 7,210

Stockholders Equity (Tables)

Stockholders Equity (Tables)	9 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Schedule of Dividends Declared	The following table summarizes the dividends declared per share on both the Company’s Class A Common Stock and Class B Common Stock: For the three months ended March 31, For the nine months ended March 31, 2024 2023 2024 2023 Cash dividend per share $ 0.26 $ 0.25 $ 0.52 $ 0.50

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	9 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Equity-Based Compensation	The following table summarizes the Company’s equity-based compensation: For the three months ended March 31, For the nine months ended March 31, 2024 2023 2024 2023 (in millions) Equity-based compensation $ 21 $ 23 $ 69 $ 55 Intrinsic value of all settled equity-based awards $ 2 $ 1 $ 74 $ 77 Tax benefit on settled equity-based awards $ — $ 1 $ 11 $ 14

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Schedule of Reconciliation of Revenues and Segment EBITDA from Segments to Consolidated	The following tables set forth the Company’s Revenues and Segment EBITDA for the three and nine months ended March 31, 2024 and 2023: For the three months ended March 31, For the nine months ended March 31, 2024 2023 2024 2023 (in millions) Revenues Cable Network Programming $ 1,472 $ 1,570 $ 4,517 $ 4,633 Television 1,938 2,475 6,260 7,123 Other, Corporate and Eliminations 37 39 111 125 Total revenues $ 3,447 $ 4,084 $ 10,888 $ 11,881 Segment EBITDA Cable Network Programming $ 819 $ 792 $ 1,990 $ 1,887 Television 145 117 358 782 Other, Corporate and Eliminations (73) (76) (238) (213) Amortization of cable distribution investments (4) (4) (12) (12) Depreciation and amortization (98) (106) (291) (308) Restructuring, impairment and other corporate matters (15) (893) (24) (1,015) Interest expense, net (55) (55) (169) (183) Non-operating other, net 242 174 39 293 Income (loss) before income tax (expense) benefit 961 (51) 1,653 1,231 Income tax (expense) benefit (257) 1 (419) (347) Net income (loss) 704 (50) 1,234 884 Less: Net income attributable to noncontrolling interests (38) (4) (52) (20) Net income (loss) attributable to Fox Corporation stockholders $ 666 $ (54) $ 1,182 $ 864
Schedule of Revenues by Segment by Component to Consolidated	Revenues by Segment by Component For the three months ended March 31, For the nine months ended March 31, 2024 2023 2024 2023 (in millions) Cable Network Programming Affiliate fee $ 1,104 $ 1,093 $ 3,140 $ 3,148 Advertising 296 316 934 1,083 Other 72 161 443 402 Total Cable Network Programming revenues 1,472 1,570 4,517 4,633 Television Advertising 939 1,559 3,503 4,516 Affiliate fee 834 764 2,325 2,132 Other 165 152 432 475 Total Television revenues 1,938 2,475 6,260 7,123 Other, Corporate and Eliminations 37 39 111 125 Total revenues $ 3,447 $ 4,084 $ 10,888 $ 11,881
Schedule of Reconciliation of Depreciation and Amortization from Segments to Consolidated	For the three months ended March 31, For the nine months ended March 31, 2024 2023 2024 2023 (in millions) Depreciation and amortization Cable Network Programming $ 20 $ 18 $ 57 $ 52 Television 29 38 86 97 Other, Corporate and Eliminations 49 50 148 159 Total depreciation and amortization $ 98 $ 106 $ 291 $ 308
Schedule of Reconciliation of Assets from Segments to Consolidated	As of March 31, As of June 30, (in millions) Assets Cable Network Programming $ 2,778 $ 2,658 Television 8,111 7,803 Other, Corporate and Eliminations 9,578 10,371 Investments 1,250 1,034 Total assets $ 21,717 $ 21,866

Additional Financial Informat_2

Additional Financial Information (Tables)	9 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Components of Restructuring, Impairment and Other Corporate Matters	The following table sets forth the components of Restructuring, impairment and other corporate matters included in the Statements of Operations: For the three months ended March 31, For the nine months ended March 31, 2024 2023 2024 2023 (in millions) Restructuring charges $ — $ (1) $ — $ (12) Other corporate matters U.K. Newspaper Matters Indemnity (a) (3) (24) (15) (106) Legal settlement costs (b) — (850) (4) (850) Other (12) (18) (5) (47) Total restructuring, impairment and other corporate matters $ (15) $ (893) $ (24) $ (1,015) (a) See Note 8—Commitments and Contingencies under the heading “U.K. Newspaper Matters Indemnity.” The decrease for the nine months ended March 31, 2024, as compared to the corresponding period of fiscal 2023, was attributable to an increase in the number of civil claims submitted in fiscal 2023 in advance of the September 30, 2022 cutoff date set by the judge for this phase of the litigation. (b) See Note 8—Commitments and Contingencies under the heading “Defamation and Disparagement Claims.”
Schedule of Interest Income and Interest Expense Disclosure	The following table sets forth the components of Interest expense, net included in the Statements of Operations: For the three months ended March 31, For the nine months ended March 31, 2024 2023 2024 2023 (in millions) Interest expense $ (99) $ (86) $ (309) $ (262) Interest income 44 31 140 79 Total interest expense, net $ (55) $ (55) $ (169) $ (183)
Schedule of Components of Non-Operating Other, Net	The following table sets forth the components of Non-operating other, net included in the Statements of Operations: For the three months ended March 31, For the nine months ended March 31, 2024 2023 2024 2023 (in millions) Gain on sale of assets (a) $ 167 $ — $ 167 $ — Net gains (losses) on investments in equity securities (b) 81 183 (110) 320 Other (6) (9) (18) (27) Total non-operating other, net $ 242 $ 174 $ 39 $ 293 (a) See Note 2—Acquisitions, Disposals and Other Transactions. (b) Net gains (losses) on investments in equity securities includes the gains (losses) related to the change in fair value of the Company’s investment in Flutter (See Note 4—Fair Value), equity earnings (losses) of affiliates, and, for the nine months ended March 31, 2024, the losses related to the Company’s investment in a live streaming mobile platform. As a result of an additional round of financing at a lower valuation, a write-down was recognized for this investment which is accounted for using the measurement alternative method.
Schedule of 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 March 31, As of June 30, (in millions) Investments (a) $ 1,250 $ 1,034 Operating lease assets 895 947 Inventories, net 692 642 Grantor Trust 247 276 Other 250 269 Total other non-current assets $ 3,334 $ 3,168 (a) Includes investments accounted for at fair value on a recurring basis of $868 million and $884 million as of March 31, 2024 and June 30, 2023, respectively (See Note 4—Fair Value).
Schedule of Components of Accounts Payable, Accrued Expenses and Other Current Liabilities	The following table sets forth the components of Accounts payable, accrued expenses and other current liabilities included in the Balance Sheets: As of March 31, As of June 30, (in millions) Accrued expenses $ 873 $ 1,028 Programming payable 754 785 Deferred revenue 168 160 Operating lease liabilities 73 72 Other current liabilities 349 469 Total accounts payable, accrued expenses and other current liabilities $ 2,217 $ 2,514
Schedule of Components of Other Liabilities	The following table sets forth the components of Other liabilities included in the Balance Sheets: As of March 31, As of June 30, (in millions) Non-current operating lease liabilities $ 870 $ 925 Accrued non-current pension/postretirement liabilities 287 361 Other non-current liabilities 222 198 Total other liabilities $ 1,379 $ 1,484
Schedule of Supplemental Information	For the nine months ended March 31, 2024 2023 (in millions) Supplemental cash flows information Cash paid for interest $ (338) $ (324) Cash paid for income taxes $ (148) $ (239)

Acquisitions, Disposals and O_2

Acquisitions, Disposals and Other Transactions (Detail) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Mar. 31, 2024 USD ($) business	Mar. 31, 2023 USD ($) business	Feb. 06, 2024
Business Acquisition [Line Items]
Number of businesses acquired | business			0	0
Deconsolidation, gain (loss), amount	$ 167	$ 0	$ 167	$ 0
ESPN And Warner Bros. Discovery Joint Venture
Business Acquisition [Line Items]
Joint venture, ownership percentage					33.33%
United Football League
Business Acquisition [Line Items]
Equity method investment, ownership percentage	42%		42%
Disposal | United States Football League
Business Acquisition [Line Items]
Deconsolidation, gain (loss), amount	$ 170		$ 170

Inventories, Net - Schedule of

Inventories, Net - Schedule of Inventories, Net (Detail) - USD ($) $ in Millions	Mar. 31, 2024	Jun. 30, 2023
Inventory [Line Items]
Licensed programming, including prepaid sports rights	$ 867	$ 720
Owned programming	485	465
Total inventories, net	1,352	1,185
Less: current portion of inventories, net	(660)	(543)
Total non-current inventories, net	692	642
Owned programming
Total	485	465
Released
Owned programming
Released	226	256
In-process or other
Owned programming
In-process or other	$ 259	$ 209

Inventories, Net - Amortization

Inventories, Net - Amortization (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Inventory Disclosure [Abstract]
Total amortization expense	$ 1,134	$ 1,781	$ 4,596	$ 5,201

Inventories, Net - Narrative (D

Inventories, Net - Narrative (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Television
Inventory [Line Items]
Inventory write-down	$ 30	$ 10	$ 30	$ 10

Fair Value - Schedule of Financ

Fair Value - Schedule of Financial Assets and Liabilities Carried at Fair Value on a Recurring Basis (Detail) - USD ($) $ in Millions	Mar. 31, 2024	Jun. 30, 2023
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments in equity securities	$ 868	$ 884
Redeemable noncontrolling interests	(260)	(213)
Fair value measurements recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments in equity securities	868	884
Redeemable noncontrolling interests	(260)	(213)
Total	608	671
Fair value measurements recurring | Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments in equity securities	868	884
Redeemable noncontrolling interests	0	0
Total	868	884
Fair value measurements recurring | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments in equity securities	0	0
Redeemable noncontrolling interests	0	0
Total	0	0
Fair value measurements recurring | Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments in equity securities	0	0
Redeemable noncontrolling interests	(260)	(213)
Total	$ (260)	$ (213)

Fair Value - Liabilities Measur

Fair Value - Liabilities Measured on Recurring Basis (Detail) - Redeemable Noncontrolling Interests - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning of period	$ (243)	$ (196)	$ (213)	$ (188)
Net loss	1	4	5	14
Accretion and other	(18)	(8)	(52)	(26)
End of period	$ (260)	$ (200)	$ (260)	$ (200)

Fair Value - Borrowings (Detail

Fair Value - Borrowings (Detail) - USD ($) $ in Millions	Mar. 31, 2024	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair value	$ 7,057	$ 6,895
Carrying value	$ 7,196	$ 7,210

Fair Value - Narrative (Detail)

Fair Value - Narrative (Detail)	12 Months Ended
	Jun. 30, 2023
One Customer | Accounts Receivable | Customer Concentration Risk
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Concentration risk percentage	11%

Borrowings - Narrative (Detail)

Borrowings - Narrative (Detail) - USD ($)	1 Months Ended	9 Months Ended
	Jan. 31, 2024	Mar. 31, 2024	Mar. 31, 2023	Oct. 31, 2023
Debt Instrument [Line Items]
Repayment of borrowings		$ 1,250,000,000	$ 0
Senior Notes | 6.500% Senior Notes due 2033
Debt Instrument [Line Items]
Debt instrument face amount				$ 1,250,000,000
Debt instrument interest rate				6.50%
Senior Notes | 4.030% Senior Notes due 2024
Debt Instrument [Line Items]
Debt instrument interest rate	4.03%
Repayment of borrowings	$ 1,250,000,000
Revolving Credit Agreement
Debt Instrument [Line Items]
Limit on revolving credit facility		1,000,000,000
Sub-limit for maximum amount of letters of credit issuable under revolving credit facility		150,000,000
Borrowings outstanding		$ 0

Stockholders Equity - Narrative

Stockholders Equity - Narrative (Detail) $ / shares in Units, shares in Millions		1 Months Ended			3 Months Ended		9 Months Ended
	Feb. 08, 2023 $ / shares	May 07, 2024 USD ($) shares	Aug. 31, 2023 $ / shares shares	Feb. 28, 2023 USD ($) transaction shares	Mar. 31, 2024 USD ($) $ / shares	Mar. 31, 2023 USD ($) $ / shares	Mar. 31, 2024 USD ($) $ / shares shares	Mar. 31, 2023 USD ($) $ / shares	Jun. 30, 2023 $ / shares
Stockholders Equity [Line Items]
Stock repurchase program, number of transactions accounted for | transaction				2
Shares repurchased					$ 253,000,000	$ 1,263,000,000	$ 758,000,000	$ 1,763,000,000
Class A and Class B Common Stock
Stockholders Equity [Line Items]
Stock repurchase program, authorized amount					7,000,000,000		7,000,000,000
Remaining buyback authorization amount					$ 1,650,000,000		$ 1,650,000,000
Class A Common Stock
Stockholders Equity [Line Items]
Common stock, par value (in dollars per share) | $ / shares					$ 0.01		$ 0.01		$ 0.01
Shares repurchased (in shares) | shares							32
Shares repurchased							$ 750,000,000
Cash dividend per share (in dollars per share) | $ / shares					0.26	$ 0.25	$ 0.52	$ 0.50
Class A Common Stock | Subsequent Event
Stockholders Equity [Line Items]
Shares repurchased (in shares) | shares		1.6
Shares repurchased		$ 50,000,000
Class B Common Stock
Stockholders Equity [Line Items]
Common stock, par value (in dollars per share) | $ / shares					0.01		0.01		$ 0.01
Cash dividend per share (in dollars per share) | $ / shares					$ 0.26	$ 0.25	$ 0.52	$ 0.50
Accelerated Share Repurchase | Class A Common Stock
Stockholders Equity [Line Items]
Accelerated share repurchases, amount of payment to third party financial institution				$ 1,000,000,000
Shares repurchased (in shares) | shares			7.8	22.5
Percentage of accelerated share repurchases of shares expected to be repurchased				80%
Accelerated share repurchases, initial price paid per share (in dollars per share) | $ / shares	$ 35.54		$ 33.03

Stockholders Equity - Schedule

Stockholders Equity - Schedule of Dividends Declared (Detail) - $ / shares	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Class A Common Stock
Dividends Payable [Line Items]
Cash dividend per share (in dollars per share)	$ 0.26	$ 0.25	$ 0.52	$ 0.50
Class B Common Stock
Dividends Payable [Line Items]
Cash dividend per share (in dollars per share)	$ 0.26	$ 0.25	$ 0.52	$ 0.50

Equity-Based Compensation - Sch

Equity-Based Compensation - Schedule of Equity-Based Compensation (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Equity-based compensation	$ 21	$ 23	$ 69	$ 55
Intrinsic value of all settled equity-based awards	2	1	74	77
Tax benefit on settled equity-based awards	$ 0	$ 1	$ 11	$ 14

Equity-Based Compensation - Nar

Equity-Based Compensation - Narrative (Detail) - USD ($) shares in Millions, $ in Millions	9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total estimated compensation cost, not yet recognized, related to non-vested equity awards	$ 100
Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options outstanding (in shares)	5	5
Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock units vested (in shares)	1.9	1.5
Stock units granted (in shares)	2	2
Vesting period	3 years
Performance-Based Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	3 years
Stock options granted (in shares)	4	4
Stock options expiration period	7 years
Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average future period unrecognized compensation cost related to equity based awards is expected to be recognized	1 year
Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average future period unrecognized compensation cost related to equity based awards is expected to be recognized	2 years

Commitments and Contingencies (

Commitments and Contingencies (Detail) $ in Millions		1 Months Ended			3 Months Ended		9 Months Ended
	Sep. 12, 2023 claim	Apr. 30, 2023 USD ($)	Mar. 31, 2021 USD ($)	Feb. 28, 2021 USD ($)	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Jun. 30, 2023 USD ($)
Loss Contingencies [Line Items]
Total firm commitments and future debt payments					$ 39,000		$ 39,000		$ 39,000
Legal settlement costs					0	$ 850	4	$ 850
Smartmatic
Loss Contingencies [Line Items]
Loss contingency, damages sought, value				$ 2,700
Dominion
Loss Contingencies [Line Items]
Loss contingency, damages sought, value			$ 1,600
Legal settlement costs		$ 800
Loss contingency, new claims filed, number | claim	2
U.K. Newspaper Matters Indemnity
Loss Contingencies [Line Items]
Liability related to indemnity					$ 70		$ 70		$ 115

Pension and Other Postretirem_2

Pension and Other Postretirement Benefits - Narrative (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Retirement Benefits [Abstract]
Net periodic benefit cost	$ 13	$ 16	$ 40	$ 48

Segment Information - Narrative

Segment Information - Narrative (Detail) - Television - US	9 Months Ended
	Mar. 31, 2024 tvStation duopoly
Segment Reporting Information [Line Items]
Full power broadcast television stations	29
Duopolies | duopoly	11
FOX Network
Segment Reporting Information [Line Items]
Full power broadcast television stations	18
MyNetworkTV
Segment Reporting Information [Line Items]
Full power broadcast television stations	10
Independent Station
Segment Reporting Information [Line Items]
Full power broadcast television stations	1

Segment Information - Schedule

Segment Information - Schedule of Reconciliation of Revenues and Segment EBITDA from Segments to Consolidated (Detail) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Information [Line Items]
Revenues		$ 3,447	$ 4,084	$ 10,888	$ 11,881
Amortization of cable distribution investments		(4)	(4)	(12)	(12)
Depreciation and amortization		(98)	(106)	(291)	(308)
Restructuring, impairment and other corporate matters		(15)	(893)	(24)	(1,015)
Interest expense, net		(55)	(55)	(169)	(183)
Non-operating other, net		242	174	39	293
Income (loss) before income tax (expense) benefit		961	(51)	1,653	1,231
Income tax (expense) benefit		(257)	1	(419)	(347)
Net income (loss)		704	(50)	1,234	884
Less: Net income attributable to noncontrolling interests	[1]	(38)	(4)	(52)	(20)
Net income (loss) attributable to Fox Corporation stockholders		666	(54)	1,182	864
Cable Network Programming
Segment Reporting Information [Line Items]
Revenues		1,472	1,570	4,517	4,633
Segment EBITDA		819	792	1,990	1,887
Depreciation and amortization		(20)	(18)	(57)	(52)
Television
Segment Reporting Information [Line Items]
Revenues		1,938	2,475	6,260	7,123
Segment EBITDA		145	117	358	782
Depreciation and amortization		(29)	(38)	(86)	(97)
Other, Corporate and Eliminations
Segment Reporting Information [Line Items]
Revenues		37	39	111	125
Segment EBITDA		(73)	(76)	(238)	(213)
Depreciation and amortization		$ (49)	$ (50)	$ (148)	$ (159)
[1] Net income attributable to noncontrolling interests includes $(1) million and $(4) million for the three months ended March 31, 2024 and 2023, respectively, and $(5) million and $(14) million for the nine months ended March 31, 2024 and 2023, respectively, relating to redeemable noncontrolling interests.

Segment Information - Schedul_2

Segment Information - Schedule of Revenues by Segment by Component to Consolidated (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Disaggregation Of Revenue [Line Items]
Revenues	$ 3,447	$ 4,084	$ 10,888	$ 11,881
Cable Network Programming
Disaggregation Of Revenue [Line Items]
Revenues	1,472	1,570	4,517	4,633
Cable Network Programming | Affiliate fee
Disaggregation Of Revenue [Line Items]
Revenues	1,104	1,093	3,140	3,148
Cable Network Programming | Advertising
Disaggregation Of Revenue [Line Items]
Revenues	296	316	934	1,083
Cable Network Programming | Other
Disaggregation Of Revenue [Line Items]
Revenues	72	161	443	402
Television
Disaggregation Of Revenue [Line Items]
Revenues	1,938	2,475	6,260	7,123
Television | Affiliate fee
Disaggregation Of Revenue [Line Items]
Revenues	834	764	2,325	2,132
Television | Advertising
Disaggregation Of Revenue [Line Items]
Revenues	939	1,559	3,503	4,516
Television | Other
Disaggregation Of Revenue [Line Items]
Revenues	165	152	432	475
Other, Corporate and Eliminations
Disaggregation Of Revenue [Line Items]
Revenues	$ 37	$ 39	$ 111	$ 125

Segment Information - Reconcili

Segment Information - Reconciliation of Depreciation and Amortization from Segments to Consolidated (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Information [Line Items]
Depreciation and amortization	$ 98	$ 106	$ 291	$ 308
Cable Network Programming
Segment Reporting Information [Line Items]
Depreciation and amortization	20	18	57	52
Television
Segment Reporting Information [Line Items]
Depreciation and amortization	29	38	86	97
Other, Corporate and Eliminations
Segment Reporting Information [Line Items]
Depreciation and amortization	$ 49	$ 50	$ 148	$ 159

Segment Information - Reconci_2

Segment Information - Reconciliation of Assets from Segments to Consolidated (Detail) - USD ($) $ in Millions	Mar. 31, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Total assets	$ 21,717	$ 21,866
Investments	1,250	1,034
Cable Network Programming
Segment Reporting Information [Line Items]
Total assets	2,778	2,658
Television
Segment Reporting Information [Line Items]
Total assets	8,111	7,803
Other, Corporate and Eliminations
Segment Reporting Information [Line Items]
Total assets	$ 9,578	$ 10,371

Additional Financial Informat_3

Additional Financial Information - Components of Restructuring Impairment and Other Corporate Matters (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Restructuring charges	$ 0	$ (1)	$ 0	$ (12)
Other corporate matters
U.K. Newspaper Matters Indemnity	(3)	(24)	(15)	(106)
Legal settlement costs	0	(850)	(4)	(850)
Other	(12)	(18)	(5)	(47)
Total restructuring, impairment and other corporate matters	$ (15)	$ (893)	$ (24)	$ (1,015)

Additional Financial Informat_4

Additional Financial Information - Interest Expense, Net (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Interest expense	$ (99)	$ (86)	$ (309)	$ (262)
Interest income	44	31	140	79
Total interest expense, net	$ (55)	$ (55)	$ (169)	$ (183)

Additional Financial Informat_5

Additional Financial Information - Components of Non-Operating Other, Net (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Gain on sale of assets	$ 167	$ 0	$ 167	$ 0
Net (losses) gains on investments in equity securities	81	183	(110)	320
Other	(6)	(9)	(18)	(27)
Total non-operating other, net	$ 242	$ 174	$ 39	$ 293

Additional Financial Informat_6

Additional Financial Information - Components of Other Non-current Assets (Detail) - USD ($) $ in Millions	Mar. 31, 2024	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Investments	$ 1,250	$ 1,034
Operating lease assets	895	947
Inventories, net	692	642
Grantor Trust	247	276
Other	250	269
Total other non-current assets	3,334	3,168
Investments, fair value	$ 868	$ 884

Additional Financial Informat_7

Additional Financial Information - Components of Accounts Payable, Accrued Expenses and Other Current Liabilities (Detail) - USD ($) $ in Millions	Mar. 31, 2024	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued expenses	$ 873	$ 1,028
Programming payable	754	785
Deferred revenue	168	160
Operating lease liabilities	73	72
Other current liabilities	349	469
Total accounts payable, accrued expenses and other current liabilities	$ 2,217	$ 2,514

Additional Financial Informat_8

Additional Financial Information - Schedule of Other Liabilities (Detail) - USD ($) $ in Millions	Mar. 31, 2024	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Non-current operating lease liabilities	$ 870	$ 925
Accrued non-current pension/postretirement liabilities	287	361
Other non-current liabilities	222	198
Total other liabilities	$ 1,379	$ 1,484

Additional Financial Informat_9

Additional Financial Information - Narrative (Detail) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-04-01 $ in Billions	Mar. 31, 2024 USD ($)
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue, remaining performance obligation, amount	$ 5.2
Minimum
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Future performance obligation, expected timing of satisfaction, period	1 year
Maximum
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Future performance obligation, expected timing of satisfaction, period	3 years

Additional Financial Informa_10

Additional Financial Information - Supplemental Information (Detail) - USD ($) $ in Millions	9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Supplemental cash flows information
Cash paid for interest	$ (338)	$ (324)
Cash paid for income taxes	$ (148)	$ (239)