NEWS CORP recently released its 10-K report for the fiscal year ended June 30, 2025. The company describes itself as a global media and information services business with five operating segments: Digital Real Estate Services, Dow Jones, Book Publishing, News Media, and Other. Its businesses include news and business information products, digital property platforms, book publishing, and newspaper and broadcast operations across the U.S., U.K., Australia, Europe, Canada, and other international markets.
Item 7 of the annual report says management’s discussion and analysis is organized around four areas: an overview of the businesses, results of operations, liquidity and capital resources, and critical accounting policies and estimates. The company notes that fiscal 2025 and fiscal 2026 each included 52 weeks under its 52-53 week fiscal calendar.
Dow Jones generated revenue primarily from circulation, advertising, licensing, and live journalism participation fees. Its news brands include The Wall Street Journal, Barron’s, MarketWatch, and Investor’s Business Daily, while its professional information products include Dow Jones Risk & Compliance, Dow Jones Energy, Factiva, and Dow Jones Newswires.
The company says Dow Jones circulation revenue depends on subscription and single-copy sales, pricing, product usefulness, promotions, and news cycles. Advertising revenue depends on demand, economic conditions, customer demographics, ad rates, and brand strength, and the company says print advertising continues to be pressured by the shift to digital and by audience fragmentation.
Dow Jones also says its print business faces cost pressure from paper prices, delivery costs, third-party printing, and distribution. The company points to inflation, supply-chain disruptions, tariffs, and trade restrictions as factors that can affect paper costs, and says it relies heavily on third parties for printing and distribution.
In professional information, Dow Jones says revenue comes mainly from subscriptions to products used by enterprise customers in finance, insurance, and other regulated industries. The company says this business depends on products that combine news, data, and tools for research, compliance, and decision-making, and it faces competition from Reuters, RELX, LSEG Risk Intelligence, S&P Global, DTN, Argus Media, and AI-powered platforms.
Digital Real Estate Services consists of News Corp’s 62.0% interest in REA Group and 80% interest in Move, with the remaining 20% of Move held by REA Group. REA Group operates realestate.com.au, realcommercial.com.au, Flatmates.com.au, and property portals in India, while Move operates Realtor.com and related products such as RealPRO Select, Connections Plus, Listing Toolkit, RealChoice Selling, and Realtor.com+.
That segment earns revenue from listing and lead-generation products, referral-based services, real estate and rental services, display advertising, mortgage broking referrals, and property data services. News Corp says the business is highly sensitive to real estate conditions and macroeconomic factors such as interest rates and inflation, particularly in the U.S.
Book Publishing is centered on HarperCollins, which News Corp describes as the second largest consumer book publisher in the world. HarperCollins operates in 15 countries, has more than 120 branded imprints, and publishes general fiction, nonfiction, children’s, and religious titles.
News Media includes News Corp Australia, News UK, and the New York Post, along with titles such as The Australian, The Daily Telegraph, Herald Sun, The Courier Mail, The Advertiser, The Times, The Sunday Times, The Sun, and The Sun on Sunday. The segment also includes talkSPORT in the U.K. and News24 in Australia.
The company says the News Media segment continues to face pressure from shifting consumer behavior, competition from digital and AI-driven platforms, and the economics of print production and distribution. It also says unauthorized use of content, including in digital environments and through AI, remains a threat to revenue tied to intellectual property.
The Other segment consists mainly of corporate overhead, strategy costs, and costs related to the U.K. Newspaper Matters. Today the company's shares have moved -2.09% to a price of $29.05. If you want to know more, read the company's complete 10-K report here.
