NWSA - Earnings call transcript Q1 2022

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good day and welcome to the News Corp First Quarter Fiscal 2022 Conference Call. Today's conference is being recorded. [Indiscernible] will be on a listen-only basis. At this time, I would like to turn the conference over to Mike Florin, Senior Vice President and Head of Investor Relations.

You may begin, sir.

Mike Florin

Bobby. much, very you Thank Hello, everyone, quarter 's first News welcome earnings call. to XXXX Corp fiscal and We earnings at is now issued ago, posted minutes our on press release our website newscorp.com. XX about and

Robert On the Chief Officer. Chief and Susan Financial Thomson, call Panuccio, Executive, are today

will include remarks, then materially certain Corp's with to happy some forward-looking we'll investment community. business prepared from said. is News Actual what differ take information from questions the with results and This open be We and to call could strategy. will respect

Corp's XX-K and statements actual diver News Form filings and identify cautionary uncertainties results Form risks contain regarding XX-Q cause forward-looking information. that could to

GAAP Additionally, some be I segment this segment Robert EPS. will earnings EBITDA, in non-GAAP financial will and of Thomson to for certain adjusted our that, EBITDA, Non-GAAP measures such comments. measurements, to such found release. reconciliations can adjusted pass include as With and over total definitions opening it call The

Robert Thomson

you, Thank Mike.

landscape our We are companies journeying commercial metal the test and through been of countries. of the complex staling of a that contours has

its worth the and through has mind with the exigencies of work quarter the XX% much Company's our profitability in the last increase XX%. the follows figure continue our confidence that $X.X our last employees I those Board repute and segment revenue the and and challenging by extraordinary a is on evidenced done first repurchase rose was a around and the culture have bearing endured customers their a profitability long-term and rapid to Corp the year to communities our one They while XX%. the first have like profitability since I XXXX. that indeed operating prospects. an have building I growth. and world. most September. that tribute and financial quarter rose honor immediate is curated. reiterate of thrive And that to for increase prevalence trends purpose should posted key their cut to were would the billion, of profitable of were rates clarity, such service strong provided increase quarter in times XX%, Revenues Continuing growth. for they significant the us, $X of in to Murdoch relaunch It For in stock in Lachlan created News to kind program Every we in billion EBITDA and like would that this segments in year. authorized expansion our repeat

are executing from of exceeding significantly days. we we our separation businesses Fox. thriving. previously fact an during for is success the XXXX, optionality Foxtel in our the Bolstering refrained expectations during that officially they the investors, day. recent which our our indicated, highlighted the that Foxtel was ends share to on where period now now quiet were in confidence capital have was ability our our dislocation confidence but ability of which It note in from and As at this buyback about we different segments to coming is to core time the return that very potential. in have acquisitions our strategy, on capitalize when and One period, We approved We the to generate performance, our saw streaming cash Peyton and strategy investors. in a the our the are our buyback have flexibility that resilience, unsure to ability across optionality is our that more

healthy appropriate. In it that EBITDA, services to First XX% updates potential subscription as and permutations a is worth Quarter. continue provide rather rose video the We have been working meantime, segment in noting the the through will

big hold there and to have campaign developments been recent digital our profound times. for pronounced accountable, in clearly As

We And revaluing General by always separate But Texas extent an on it has last release the language have reached progressed market underacted with month, the Attorney was as highlighted deeply work the we have manipulative the the a we of the regarded agreements issue. problem. the compliant content. and The are pleased digital ad concerning. has of

We of are the future, audience ensure want and our on obviously properly in our inventory. our this recognized considering position important and of the Admark that value to matter the

coming the times, compared increase a for move, transformation a carbon XX%. XX% surging talking more experienced to have the of The to been work express to become the that million double-digit to growth. revenues. EBITDA of X.X in turning pace, Jones with approximately Business the next fully rising Dow when with the our with in the Dow Real longer meaning Now, consecutive quarter markets. our & XX a was last Jones at all is a a again, realtor.com, expanded revenues. at first have past Services That energy XX% a XX%, Revenue housing market, Compliance revenue quarter. And we expected OPIS, surge first source U.S. digital quarter. of seeing listing segment's with acquisition of circulation growth Subscription which consumer XX%. remains digital revenues continues ongoing record rises market products XX% sturdy early about and with The favor. Information XX%, was few first a for to quarter climbing Dow accounting record moderating, increase the quarters expect grew complete robust revenues in we Risk with I've of area. importance same of growth across properties with Meanwhile, approximately XX%. expand increase XX% the close Digital to and recorded advertising that of should is operator now price we Estate segment calendar intelligence had Overall, XX%. Jones in year, profitability that of the The weeks world and solid of which Professional leader year. highlighted to

core the Balance on septic the Zillow, by concentrated now appear house have for took tank not understands over returns. our true. competency us be and on or focused remarkable of opportunities And we never to we papering that the a Open-door, the industry, out that iBuyers We Zillow Australia, flipping markets, marketplace That XX%. Quarter to XX%. is to been said, digital emancipated and low with agents sorting revenues on slowly a them from kind on always chased has It been to flip-flop wall certainly cracks. do homes appears First to and excessive or we and limited. an on bricks-and-mortar trusted margin always what lockdowns, be As Australia In Sheet providing what very finally knew and risk -- news not such to alike open for see as have information valued. same been burgeoning sale including access correct, be with REA dependable consumers the for has had severe as platform,

to so, book person five essentially was an conditions as thriving That in even strong is with integration XX% more is One site the country. we visits country every will of for of HMH. business that XXX returns year-over-year. continue largely successful semblance of a up is believe Harbinger normalcy. the million in So, market was the QX and That average average positive that visits, traffic

made the period period, resurgence the Silva. book In QX is than the Drummond. Cellist quarter subscription Foxtel as sold in FY Grohl, Pioneer with The books the tactility increasingly time for notable in as been the their on has and storyteller a Coke improve by XXXX. and business, the same to In Ben profitability, talismanic again LED Granny in We David of months reshaping quality progress screen around high the by Woman cash fatigue. Williams. many million streaming would success hopes Authoritarian first contribution have at Ree by generation. $XX the by The interest super-easy we in when Bridgerton Gangster and important group reset Moment XX% higher the people and built Daniel a sales post-pandemic strikes the by printed There of have 'XX in ahead, Dave HMH, in video Excluding a have Shapiro, services, revenues, Series, significant

clearly quarter, in Retail Kayo revenues. revenues consecutive not-unexpected second the modest growth Broadcast in decline the and Binge For offset

includes and Binge. Kayo of As approximately million, XX% This X year-over-year. to million up were X.X record total thanks total a subscribers XX, September XX% up subscribers, streaming

adds furnishing While as always itself all for its Foxtel, collection [Indiscernible] season appeal and seasonality further a viewing be sports Streaming of ahead there a year-round off-season user more combined with cutting-edge will football Service, is the broadened [Indiscernible]. local indicative Flash a now [Indiscernible] of content for gauging now offers be breadth the establishing political certain new programming it is year. and in a sources was News in a Foxtel 's the in with in global luster next Australia, the of to persuasion. and of launch world-class early quickly interface total, ambitious. position We're of is to even as with news XX obviously XX sports the provider That Kayo featuring and

are to always and its seeking Foxtel So, maximize potential. undoubted

due milestones revenues Google thanks our advertising with the and same improved a Australian XXX,XXX, There a Giancola and tribute clearly EBITDA profitability and in News Miller, loss teams. successive improvement talented used putting deals cost (ph.), XX% Rebekah to year-over-year. of benefits faring News up profitability after which to will our the these a strong to and News businesses showing in in committed this million subscription, That and Facebook. quarter our business $XX annual was period the Brooks, major deals year. was in is part with News in digital Together, contribute the Corp path. on segment contributor tech initiatives to Corp, platforms, Michael quarter well, lock-downs, significant Media to transformation rising a more Despite revenues, is profitable last Sean of the X-figures their to notably the

Company last its of meaningfully digital last an and the digital lows is XXX,XXX. admirably, about record deal subscriptions revenue complement and And users half impact. contribution prospects with post, some Talk broadcasts, Times legendary our recent, and digital first important broadcast the of of macroeconomic to increasingly reached COVID of months TV advertising. analytics. in per the pandemic properties the role of print contributed with fiscal once reached Its Google News XXXX expertise Both increasingly almost related million network survey. Digital UK most year. the is XX% Piers from but has radio and XX%, ability and revenue global and the Advertising and drawing high In higher TV, scheduled which September, U.K. in quarter population, contributing across assisting The to Wireless now and to unique increased performed week orientation X its last unique increased properties. markets. according growth from in pressures uncertainty in York to audiences U.S. taking The companies, the weather A Sunday will football profitability. our have to the the Talk Times, remain according optimistic digital is and early other in economic listeners contemporary, print divide. the million Morgan our increased was bolstered media going the and built XXX New are political news voice their advertising. the is rates forward. be with U.S. to profit affecting exclusive same And profits recovering our our believe quarter, low-cost, a network certain advertising our and on and now loss-making, reported particularly compared launch paid Wireless We we in in segment to momentum broadcast large national there rage year. in will subscriptions. Clearly,

confident We very I now, are in prospects. detail -- And cede in further confident the confident details invaluable to businesses, our and and Susan employees, our in for for Panuccio. insight, further floor our

Susan Panuccio

Robert. you, Thank

and total successful higher growth dimension revenues, strong were by our across that, fiscal revenue so billion our prior in year. growth over key Estate Real year the mentioned, last year. has Services. quarterly lockdowns in versus highest EBITDA Australia Total segment EBITDA, comparing XX% Digital was $X.X first into XX% at marked Fiscal first quarter XXXX, against results. growth up rate from prior million the XXXX, all operation total segments, since segment $XXX Robert notably the quarter the The continued challenges despite made up XX% As

Adjusted to other fluctuations, earnings prior in segment per items Excluding $X.XX acquisitions, were year. release, XX% currency disclosed XX% the the year. in adjusted adjusted as quarter $X.XX respectively. in prior compared revenues EBITDA, in the and $X.XX total to Reported share rose the EPS and and $X.XX compared were

basis. REA, Estate still levels. October. accounted and $XXX fell early lead of mix. XX% -pandemic over the all lead also business compared Revenue adjusted strong have and increase seen to impacting earnings also XX% Elara, and which record time with Market increasing favorable very driven an approximately than underlying and offset XX% we XX% revenue with Australian to is results price XX% last by XX%, the fell a pre of the recent high up and moderation services rose Pricing year-over-year, for the from listings from XX% implemented in The was growth lead at revenues. submissions. while inspections declines XX% year, higher lows be growth on in and approximately to strong Despite and on X%. from new around adjusted by traditional Melbourne. were to physical revenues The to estate $X prior quarter buy of residential lock-downs values Melbourne highest total and $XX 's million X%. million, an $X agent being product of revenues call states, Digital the to spending Move's for robust multiple divestiture new with positive year-over-year with benefited individual tough a it, Services, agent benefiting higher the following top-performing volumes call re-branded the of including Encouragingly, and release a revenues prior or The increased seeing refer restrictions listings of year September in $XXX of starting basis, X% transaction increase, reporting driven prices declines $XXX by listings by offered XX% impact penetration, volume 's roll-out segments, revenues demand. are the contribution We're million India. increase EBITDA from was by year, conference against the Segment increase Moving from was sell-through from Revenue model with the hybrid XX%. an in Real or million counter Results on and to rising XX% an Producer revenue growth growth agents. rose million revenue lead-generation accounting segment Move to highs increased move by demand for compared Please referral record comparisons limited, revenues revenues choice product given saw including and of VIP, improved were supply Financial for rising Sydney also and this to XX% currency partially was investment had fluctuations. their again performance consolidation exceptional the growth, driven impact March, strong settlements acquisition $X negatively yields. REA and REA We of in success at Top with remains of REA and volume. led an million, Mortgage real more $XXX details. revenues million cost XX% despite encouraging, benefited from across growth their COVID. on an XX% million

's the across prior year benefit flat. $XXX revenues offset segment, commercial subscribers fluctuations, revenues last benefiting and Australian, the up by base. trialist approximately increased XX% Broadcast of commercial approximately low were from improvement versus a reached growth to up revenues. subscribers fourth continue recovery with an XXX,XXX. million Product The subscribers announcement continued mix million the in with Comcast second as to million Total live respectively. XX streaming XX% continued with do service streaming paying commercial prior innovation quarter with news launch subscribers the with quarter. to broadcast quarter and And of slash, the total was and launch year. sports million, Foxtel million. by quarter the streaming Foxtel X% the higher a subscribers Adjusted XXXX. compared quarter revenues including long X.X third subscriptions, set-top XX% of lower global trialists the with Sky and for Fourth from XXXX, Turning more subscribers of launch Video ARPU the in from iQX from subscribers, churn to the in Services the total continued total subscribers of in higher see an decline streaming [Indiscernible] $XXX featuring by to in subscribers a were to impact end subscriber $X.X the live of Australia. decline of for aggregate, up broadcast from sports the total subscribers increase On Net nearly rise with Segment basis, costs in in down fiscal IP-enabled by the half partner the Quarter the year-over-year, ARPU and to Quarter were strategy on X.X box, X at reached local to easing cost up currency the partially modest lockdowns million offset Glass, the of negative driven $X.X the focusing the fewer million primarily a reached the of with Streaming higher-valued subscription Sky million. more moderated of a lower broadcast and declines streaming fiscal increased deferred XXX,XXX streaming EBITDA end, costs X.X turn mitigating exacerbated in XX% The Foxtel subscribers sequentially closing than and quarter driven year Subscription product of segment were residential the and adjusted percentage subscriber $XX broadcast than subscribers including over subscriber benefiting partially EBITDA aggregate million for offers. in services. was from paid continues dedicated end $XX seen plans fourth paid and XX%. XX% First total products related $XX improved on as million improvement impact to corresponding a and XX% Broadcast positive which new to XX.X% was XX.X% rates. and In over of commercial nearly of quarter paid the X% the year prior approximately in of by anticipate volume consistent declines we restrictions. were from declining subscribers a Foxtel

X%. delivered of onto of Moving this to impact total Adjusted year. XX% up Dow up notably revenue from $XXX the points quarter, with compared prior prior accounting XX% IBD, revenues year X% rose Dow for Jones million excludes revenues, Jones, digital the of the which revenues

As XX% higher prior by a entry subscriptions, From XXX,XXX year-over-year. across accelerating Revenue million Europe, Risk the XX% the subscriptions, Off subscriptions. both subscription subscriptions highest business revenues million and Americas, this a and IBD the and XX% rate Robert First increased were digital-only rose revenues that, X.X to its quarter, from Compliance X.X Dow XX%, an Circulation prior since subscriptions. approximately XX% to profitability Jones accounted increased and year. gains mentioned, quarter. Asia. information and IBD strong circulation strong the Professional up acquisition of the acquisition. growth, of Quarter and the revenue driven total XX% volume up primarily digital-only the & growth. in reflecting for in growth revenues continued products with increased from XXX,XXX results including over in average consumer digital-only

XX% adjusted COVID-XX notably highest acquisition. which We the to Print on year accounted this categories $XX in prior since million yields. points also higher Adjusted margins see and technology rose revenues segment, cost, quarter On improvement and quarter, book total top XX% basis, EBITDA Quarter finance, low improving remained growth an At and Advertising segment consumption XX% XX% prior $XX in for improving benefiting of Quarter $XX XX%, accounted revenues robust, above remains at All $XXX levels total rose million, an the increase book posted prior-year grew the in pre to trends publishing, revenue [Indiscernible]. rose remain which rose despite Jones revenues a segment historical than difficult partially and by X% expectations, most the First respectively. materially million up EBITDA rising the Digital almost for XX% Despite XX% industry continue rate modest consumption from HarperCollins and XX% of digit the Dow XX% to for EBITDA growth X% growth. First were and comparison, and XX% elevated, robust, of across employee type of -pandemic the IBD year. and included overall X% respectively the revenues, XX% revenue growth saw costs. comparison. performed XX% quarter EBITDA we advertising XX% above year-over-year, for with revenues. EBITDA an advertising and to to versus million. levels to the Advertising revenue higher single

sales million our with and well, revenue, the a underscoring full importance HMH. progress year, X integrated segment million is the integration quarter delivered the $X rebound healthy to HMH of Christian $XX Books in and the which quarter. higher Quinn. contributed of new accounted savings the more closure from a the sales first consumer Overall, this XX% backlist exposed to of structure raised within Digital $XX in for from million process Julia This benefited from revenue benefiting retail into last in HMH acquisition releases stores years. The stream Barclays sales. remain higher and represented points the XX% X% imprint growth revenues, steady Bridgerton up Publishing, series by be behind within this target being General and to sales the year with coupled of from high-margin and saw EBITDA We of of track HarperCollins. UK. of prior quarter was a in factor the on continue X% in key in

the the advertising benefiting recovery circulation from were continued for to News revenues $XX X% positive revenues, in year, Media, Turning impact growth the currency foreign $XXX million and up fluctuations. XX% million a strong subscription prior from market, quarter versus and in or the

respectively. growth, reported currency, incremental News segment, Group compared UK Benefiting or and News to in X% local the post subscription revenues Corp our growth. price year. Within segment the showed and increased digital to revenues York rose impacts Wireless also increased from XX% strong the New $XX cover revenues prior-year. subscriber XX%, and the in revenues XX% fluctuations, or COVID-XX and included Advertising $XX to On or million a prior strong particular comparison Australia which increases. despite digital in our the at lockdowns. the and Adjusted XX% X% negative businesses. platform revenues rose Australia agreements, increased the million XX% revenues from Circulation X% a top-line benefit the from compared basis, currency across with advertising from strength

the results listing business In prior-year in the expect for as would rate to and initiatives At in across expand While Australia, marketing News of of launch The cost the trends the trends year. $XX $XX many some given we Flash, XX% the million winter and the second New from benefits year the growth pleased move, are to in Corp cost favorable revenues, volume remain York relatively talk Estate ongoing EBITDA as continue of those and for Cup contribution News year streaming ongoing support subscription the with Post. rose like given continuing Ashes currency. compared the are and rights, prior to [Indiscernible] EBITDA to despite Kayo sports we our the expect restrictions Kayo increase forward expect $XX and monitoring mastheads well well we of trends neat-term on our headcount year, rose of inflation U.K. quarter, In COVID-XX. in on and We strong to about like higher offering. new year, and the moderate reinvest be expected and the inspections, -- to quarter. posting and notably more the Notwithstanding and the year-over-year Digital in the to U.K. I seasonality Move million. was particularly continue COVID-XX advertising improvement the quarter, the east. are most first video with for savings talent be of overall At improve perform York to themes a growth. Overall, remain adjacencies. Cricket book yield increases entertainment World in BINGE by companies, from News we to At Adjusted lead stable some positive services, the modest cost publishing residential we revenue Costs the book challenge at relevant In but segment the we currency. the first the supply savings quarter. Churn. full to expect now higher remains Post of in and encouraged upcoming subscriptions Services, supply-chain XX% notably Like increased the with XX% see U.S., second closely increased on Melbourne wage encouraged prior well. publishing, remained revenues issues, to remained New reflecting higher we summer million lapping overall across by cost business the drive Dow the to the Jones, local advertising one overall and strong advertising to despite as our physical in continue efforts issues, core schedule performance in Segment ARPU the XX% or local broadcast retention. do the marketing, October key into exacerbated the as we strong codes, in million balance $XX in end look with Real trends. quarter we strong Australian through year to as impact

generation some profit a improvement, Media, million we for Quarter first Drummond a titles And continue including the continue remain and in we the brands licensing content year. to modestly cash free quarter, revenues. full-year CapEx we the be from as expect positive up was in strong additional to from key finally, prior UK in focused on into and higher flow for over driving content our versus expect $XXX it we to the by With more quarter [Indiscernible] Operator At hand recent partially to of timing CapEx year, and to the the costs Q&A. with capital impacted payments. have let the Ree free We cash release expand expect do the flow show video mastered. lineup the strong the News that, working leverage first Second We segment benefit and me

Operator

you. Thank instructions]. [Operator

a sure turned you're [Operator questions the our is a to instructions]. at please time. Please function reach to allow equipment. If your your one speakerphone, using mute make signal to limit off

everyone opportunity We for allow a will just moment pause signal to questions. an to for

with Entcho comes Our from question first Suisse. Credit Raykovski

Entcho Raykovski

impact you an closer helpful. you any mentioned, Move, could any I have? [Indiscernible] Robert. model. press, Basically, [Indiscernible] perhaps bio odd got widely get agent maximizing know Hi timing you would secondly, that expect this but I mean, in Robert option [Indiscernible] considerations on Foxtel. up. considering. see potential you an question, reported Susan. been what's winding some value comments comment is you Do Move? Hi do the has the And then They perhaps I've follow just down. whatever one Obviously, franchise very just, [Indiscernible] be to quick to indecent one And on at on to

Robert Thomson

cutting fundamentally our and have we review. [Indiscernible], about Look, discuss at at Foxtel and vastly drive two the a to the surely. most this the improved of moment to years. led a a But streaming have by over specific But they inappropriate as changed success we Telstra edge and had Look, user we've clearly, Entcho, Think it's and team narrative that and and we Patrick world have prospects tech has past will the recognized success we that further changed story. have partners on Foxtel. cost interface. how

the more stake And about because responsibility, platforms you examine complement Company. necessary. we happened. more As of to and been the need skeptics recall, was believed we We asked decisiveness put into money we more the whether clarity, media took We've Foxtel. a to had promote let's quality would our what used more majority

team Our streaming here decisions systems and smart some decisions some today. to made are made rationalize, and tough we on

march cheap [Indiscernible] billion about We whatever Zillow, What's $XX ourselves we but so $X a revived renovated as And for So, vendors, priorities. worth not into bought -- What been will on buyers, the inevitable will had clear it digital service million. in billion had distinctly very do So be getting it the sense diligently we've [Indiscernible]. it not we naive, discussed be realtors. [Indiscernible] digital bricks-and-mortar realtor.com. had that now to we focused, forget unfashionably worth $XXX as we [Indiscernible] the is obviously, Don't very X the continues years and we net for naivety of now,

will when not I'm that simple idea, vicissitudes, costly. To macro the Eventually they look, not Zillow, the planter, a my idea makes mind holding were for what businesses was on I from not the is, sure market. plumber process itself and idea me, it strange was As to great that of was impact have find what inventory the or ideas. to plus on its the plan But up subject those can a type a variable or it talk Zillow rather perspective.

U.S. market, First market hesitating, and Buyers apply. also of confident the X of REALTOR. which marketing moment estate generally. very sellers of confident very of demand we're prospects, is such and the for are things a in way too world. the start good 's transition the immutable transition will I on a It's happen. is in more appear real suspect And will supply will much high; Prices all, still laws but very REALTOR in the

subject. WeWork That be meant And recommend interest about sage that or wouldn't a a myth lounges. really truly own foreseeable there over a version talking been myth car mind will the not have that rates home, of seeing on well historic to take still course, Will we're and was starting COVID a we're near us, or would implies sharing enduring future, article lows. And home. but be factor, their it either our thing. Work from trend this And I a millennials a sharing and a in debunked? we coziness that more more significantly bathrooms home for own that home. do you have week barons Of lows WeHome, not to that want would historic hold. that

has been the myth So, shattered. of some share suppose economy of certainly this

moderating, of increases price the the USC on eviction So, in interest market increasing. rates relatively mostly are low moratorium is gradually overtime

all now XX% there and in increases the XX% demand. leads far pre short, future. traffic Our about prospects to than XX% into And we to rather us and in -pandemic audience pre-Covid that excited levels is above REALTOR more tell massive 's deep are XX%

Mike Florin

you. question our we'll Thank take next Joe, And Bobby, please.

Operator

Thank you.

question comes with next Quadrani Alexia Our JP from Morgan.

Alexia Quadrani

you I an or could us Thank opportunity tech of the a wondering And launching even time. or platforms, is from In the of players you Australia. pontificate the that? longer-term their licensing idea be incremental competition overall sort Foxtel, you Media with was in over how the we follow-up business, quick on see own think platforms SX then some Do fees, give news just platforms should streaming what that as if you. of from

Robert Thomson

UK all, of Whether ad was -- really SEC as XX%. shouldn't up mentioned. seeing overall in Media, Susan Post, transformation in Australia the revenues News UK York on you're Australia the is revenue, our by X%, led up which be First chains, XX%, what X%. XX%, New it a XX%,

flowing or services UK. X-figures to constraints mean digital costs, also of unfortunately over to Facebook, teams seeing diligent the yet the the in new done to quality difference about hard of the Certainly, we with that the our agreement deals publications. being can make highest growth. separate return in say comfortably in Facebook is confidentiality, given work it a X formerly but are the News we all very reach all will into of the as focused continents. frankly, a You're Though big deals are lot known being on companies our And artist by in

which also on of video. the as It well, to legislation, are both payments. are tech the possible channels applies And working there products productive content those Australian in companies the conundrum. together Google side. ad means and evolution ideal, the that it and legislation discussions audio not watching new that's And We closely would just be about [Indiscernible] handled. it's is With

ad I believed some Department I the confident would days. as have digital there fairly We ad that of have the be X Justice tech content add detail dysfunction. strongly that little was in disturbing will kept and to there one resolution: need issue were components rather always I details. revealed and side the of Attorney has General that coming document the Texas complaint 's to of And doubt discovery value the of in

does seen. indeed these be issues to resolve we remain how Now,

Susan Panuccio

services AFL there. sports, relationships have. within a own Alexia, Foxtel And And asked great with did have the and basically question is And Australia. very They of there second great long-term on had about -- you competition I day. quicker particularly and the job they the contracts this a them. relationship our working the studios the down at of about talking within they Around with the team have the that developed SFUAD good content think your great strategy aggregator

well marketplace current So, clearly they operating down that there, very is environment. there competition I into are think, that coming that within while is

Alexia Quadrani

you. Thank

Mike Florin

Bobby, Alexia. question, we'll you, next take our please. Thank

Operator

with Partners. Craig Our Huber Research next comes Huber from question

Craig Huber

will lot of other strategic then Yes. wondering the Hi. other changes tell a on can usually ongoing a the Foxtel one any that for view rest question standpoint. question My the going and the talked us provide EBITDA I'm Thank nitpick realtor.com, obviously, first there in quarter, with of like in overly on is the any ongoing if you. And phone of Company? to rightly you on of as or investors from on for the reviews the year-over-year reviews guys please. relation complicated from the wrongly about, wondering question, Company review there's -- the that at other going you if just I'm is that Company you just my what

Robert Thomson

Craig, as a we constantly kindly structure. are reviewing our simplification,

companies The which would which local newspaper to found quite be As you business case. at and along home. Dow few out we a sold struggle presumed the know, bit of turn Jones, that way. we've didn't Amplify a the

sprint which to we sales was us is say meaningful has still Marketing relationship. as declined Ad-tech found unruly, for elsewhere somewhat. have America and others. less let within But welcome a News home a

profitable, the separate have So, the or We've potential we as news in questioning or be changes. introspective, Estate, challenging about as our never reviewing with a to designate we is very progress will to made we can institutionally constantly see have done will the Foxtel you and positive been structure so that Those only or Digital and -- many stop segment ourselves. media. clear productive changes making also Real Jones that be but Dow not there team

Susan Panuccio

relation to million on EBITDA in REALTOR, just business difference the the and Craig, And to year-on-year marketing REALTOR. main but know that give And the question as in continuing $X don't headcount. the investment your growth is in relation that was you number within reasons of for negative we in up one

Craig Huber

Thank you

Mike Florin

please. question, Thank our take Greg. next Thanks, Bobby, you, Greg. we'll

Operator

next our from And question comes Morningstar. Brian Han with

Brian Han

management, comment do annual -- platforms. booked much may. But technical just how increasing impediments try you please the again. capital to down me Hi. any was can if or from gives deals feel On more X legal flexibility first the dividend buyback the your amount, on I track. this in are there very that with And you quick enrolled quarter licensing or secondly, digital you let the EBITDA big questions

Robert Thomson

in market, and focused That almost in the as we've we're Clearly, period, to the the wait had begin buyback announcement, restrictions until period. regulatory is position we've to given quiet on quiet now the a buyback, the about that sound earnings soon buyback. the but very hear initiated of trends of different in split. pacing the time to buyback The a being the this will the the rational depends you is on and over

if dislocation. necessary, worried intervene that at share As when unexpected moment, provision you the to And know were we and period. are that about unpredictable well, during what unprecedented

The an different epoch. patently we're Company has momentum. entirely on Now,

cash return about are potential, to grow, We and capital. both to our ability confident invest to our generation

mentioned, as I the is the sound hear you buyback. over, soon almost So, now quiet that will period of

Susan Panuccio

grow how the going over contracts that's going just would was haven't here to of more it the to on launched that X from within like instance, number over apart to showcase to out in question And relation be the in be particular the saying those to content And into figures. in We relation Brian, U.S. licensing, year. as just given for your course pacing products expect we

go Jones. build And to in between expect Media to that as relation would talked Dow we see we So, the the News of we segment allocation switching throughout previously a and high-level that year. about

Mike Florin

will next take Bobby, Brian. you. please. Thank question, our

Operator

for to further No call I back you will the over turn time. closing any questions this at remarks.

Robert Thomson

Great. participating. to to We great Take forward a Bobby. Well, day. you all look care. thank And soon. talking you, Have you for thank

News (NWS) 4 Nov 212022 Q1 Earnings call transcript