News Corp (NASDAQ: NWS, NWSA; ASX: NWS; NWSLV) has extended the contract of Chief Executive Robert Thomson, ensuring his leadership through June 2030. Since Thomson's appointment in 2013, the company has seen significant transformation and achieved its four most profitable years from fiscal 2021 to 2024, with continued strong performance in fiscal 2025.
Under Thomson's leadership, News Corp has transformed its revenue base, with digital revenues accounting for 50% of total revenues as of fiscal 2024, compared to roughly 20% in 2014. The company has reshaped its portfolio, particularly with the re-segmentation of Dow Jones in 2020, which has since doubled in profitability, and the sale of Foxtel to DAZN in April of this year.
Notably, News Corp has also signed landmark agreements with major technology platforms, including a recent deal with OpenAI to license the company's intellectual property in exchange for meaningful compensation. The company achieved an Investment Grade Credit rating across all key credit agencies, driven by improved asset mix and a pristine balance sheet.
Furthermore, key acquisitions at Dow Jones, including OPIS and Base Chemicals, have positioned its B2B offering as the largest contributor to segment profitability in fiscal 2024 and a key driver of expected future growth. The strong performance in Book Publishing, including growth in audiobooks supported by a strategic partnership with Spotify, has also been attributed to Thomson's leadership.
Lachlan Murdoch, News Corp Chair, highlighted Thomson's instrumental role in the company's growth and transformation, emphasizing his vision and leadership as essential in navigating this era of rapid change.
As a result of these announcements, the company's shares have moved 1.03% on the market, and are now trading at a price of $28.35. Check out the company's full 8-K submission here.
