NWSLLNasdaqNewspapers: Publishing or Publishing & PrintingUS GAAP · USD

News Corporation

News Corp is a global media and information services company built around news, business information, digital real estate, and book publishing. Its portfolio includes brands such as The Wall Street Journal, Dow Jones, Realtor.com, realestate.com.au, and HarperCollins, with revenue increasingly supported by digital subscriptions, licensing, and online platforms.

Revenue9,028m USD
+6.8 %y/y
Net income573m USD
−51.4 %y/y

Fiscal year 2026 · change from previous year

Development 2021–2026

0.02.55.07.510.012.5bn USD2021: 9.4 bn USD20212022: 10.4 bn USD20222023: 9.9 bn USD20232024: 10.1 bn USD20242025: 8.5 bn USD20252026: 9.0 bn USD20269.0
RevenueOperating profit (EBIT)

Business

Share of revenue
Dow Jones25 %

Business information, financial news, data, subscriptions, licensing, and events.

Digital Real Estate Services20 %

Online property marketplaces and related advertising and lead-generation services.

Book Publishing23 %

Consumer and professional book publishing through HarperCollins and related imprints.

News Media23 %

Print and digital newspapers, radio, and news content across Australia, the UK, and the US.

Other / Corporate9 %

Corporate items and residual activities not allocated to reportable segments.

Products

Reported · share of revenue
35.5%24.2%17.4%15.4%FY2026100 %
  • Circulation and Subscription35.5 %
  • Consumer24.2 %
  • Real Estate17.4 %
  • Advertising15.4 %
  • Other Product or Service7.5 %

Source: 10-K FY2026, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.

Customers

News Corp sells to both consumers and businesses, with a mix that depends on the segment. Consumers buy news subscriptions, print circulation, books, and property-search services, while enterprises buy data, compliance tools, licensing, and advertising inventory. The company’s customer base is anchored in information-intensive use cases where trusted content, audience reach, or transaction intent matters.

Consumer news subscribers

Readers of The Wall Street Journal, Barron’s, News UK, News Australia, and related digital/print products who pay for trusted journalism and analysis.

Enterprise information customers

Businesses buying Dow Jones data, risk/compliance tools, newswires, and licensing for professional workflows.

Advertisers

Brands and agencies purchasing print, digital, sponsorship, and custom-content placements across news and media properties.

Property market participants

Consumers, agents, and developers using digital real estate platforms for listings, lead generation, and marketplace visibility.

Book trade and consumers

Retailers, libraries, schools, and end readers buying HarperCollins titles across print and digital formats.

Strategy

News Corp is focused on shifting its portfolio toward higher-quality digital revenue, subscription monetization, and licensing opportunities. Management is also emphasizing product innovation, use of its content across third-party and AI platforms, and cost discipline after the Foxtel sale and the reclassification of the subscription video business into News Media. The strategy is to leverage premium brands and audience scale to improve monetization while reducing dependence on lower-margin print advertising.

Increase digital subscription and licensing revenueMedium term

Recurring digital revenue is more durable than print advertising and supports better monetization of premium content.

Monetize premium brands across platformsMedium term

Brands such as The Wall Street Journal and Realtor.com can be monetized through subscriptions, data, advertising, and partnerships.

Simplify the portfolio and improve marginsShort term

The Foxtel sale and cost savings initiatives reduce complexity and can lift profitability.

Geography

News Corp is globally distributed, but its operating footprint is concentrated in the United States, the United Kingdom, and Australia. The 2025 filing highlights News Corp Australia, News UK, the New York Post, and Dow Jones as core businesses, while digital real estate also spans markets such as Australia, the U.S., and India. Geography matters because advertising, circulation, and property-market cycles differ by country, and foreign exchange can materially affect reported revenue and margins.

Risks

News Corp faces structural pressure from declining print usage, advertising cyclicality, and platform-driven traffic volatility, especially in news media. Its digital businesses also face cybersecurity, technology, and AI-related disruption risks, while the company remains exposed to goodwill impairment and legal contingencies given its acquisition-heavy, brand-based portfolio. Foreign exchange, competitive intensity, and changes in consumer behavior can all move revenue and margins quickly across its geographically diverse businesses.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Decline in print advertising and circulation1Platform and traffic dependence2Cybersecurity and data protection3Goodwill and indefinite-lived intangible impairment4Foreign exchange volatility5
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Decline in print advertising and circulationImpact: HighLikelihood: High

    News Media still depends on print and local advertising, which are structurally pressured by digital migration.

    ExposureNews UKNews Corp AustraliaNew York Post
  2. Platform and traffic dependenceImpact: HighLikelihood: High

    Digital ad revenue can fall when search or social algorithms change, reducing audience traffic and monetization.

    Exposure: The Sun and other digital news properties

  3. Cybersecurity and data protectionImpact: HighLikelihood: Medium

    The company’s digital products, customer data, and third-party integrations increase attack surface and service disruption risk.

    ExposureDow JonesDigital real estateSubscription platforms
  4. Goodwill and indefinite-lived intangible impairmentImpact: MediumLikelihood: High

    Brand-heavy acquisitions require annual impairment testing and can be written down if fair values weaken.

    ExposureDow JonesDigital real estateBook publishingNews media brands
  5. Foreign exchange volatilityImpact: MediumLikelihood: Low

    A large share of revenue and costs is generated outside the U.S., so translation effects can move reported results.

    ExposureAustraliaUKOther non-U.S. operations

Accounting

Judgemental items
Goodwill and indefinite-lived intangible impairment

Valuation depends on future cash flows and market conditions for media brands and digital assets.

Impact: Could create large non-cash charges if business outlook weakens

Revenue recognition across subscriptions, circulation, licensing, and advertising

Different products have different timing and performance obligations, affecting quarterly comparability.

Impact: Can shift revenue between periods and segments

Seasonality in advertising revenue

Management notes advertising is typically strongest in the second fiscal quarter due to holiday season demand.

Impact: Quarterly results are not evenly comparable

Discontinued operations and segment changes

Foxtel was sold and the subscription video business was reclassified into News Media.

Impact: Impacts trend analysis and segment margin comparisons

Legal contingencies and accruals

The company is involved in various claims and must estimate probable losses when measurable.

Impact: Can affect operating expenses and liabilities

Publicly listed companies with a comparable business focus.

Last updated: 24/09/2026