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.
Fiscal year 2026 · change from previous year
Development 2021–2026
Business
Share of revenueBusiness information, financial news, data, subscriptions, licensing, and events.
Online property marketplaces and related advertising and lead-generation services.
Consumer and professional book publishing through HarperCollins and related imprints.
Print and digital newspapers, radio, and news content across Australia, the UK, and the US.
Corporate items and residual activities not allocated to reportable segments.
Products
Reported · share of revenue- 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.
Readers of The Wall Street Journal, Barron’s, News UK, News Australia, and related digital/print products who pay for trusted journalism and analysis.
Businesses buying Dow Jones data, risk/compliance tools, newswires, and licensing for professional workflows.
Brands and agencies purchasing print, digital, sponsorship, and custom-content placements across news and media properties.
Consumers, agents, and developers using digital real estate platforms for listings, lead generation, and marketplace visibility.
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.
Recurring digital revenue is more durable than print advertising and supports better monetization of premium content.
Brands such as The Wall Street Journal and Realtor.com can be monetized through subscriptions, data, advertising, and partnerships.
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.
- Decline in print advertising and circulationImpact: HighLikelihood: High
News Media still depends on print and local advertising, which are structurally pressured by digital migration.
Exposure - 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
- Cybersecurity and data protectionImpact: HighLikelihood: Medium
The company’s digital products, customer data, and third-party integrations increase attack surface and service disruption risk.
Exposure - Goodwill and indefinite-lived intangible impairmentImpact: MediumLikelihood: High
Brand-heavy acquisitions require annual impairment testing and can be written down if fair values weaken.
Exposure - 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.
Exposure
Accounting
Judgemental itemsValuation 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
Different products have different timing and performance obligations, affecting quarterly comparability.
Impact: Can shift revenue between periods and segments
Management notes advertising is typically strongest in the second fiscal quarter due to holiday season demand.
Impact: Quarterly results are not evenly comparable
Foxtel was sold and the subscription video business was reclassified into News Media.
Impact: Impacts trend analysis and segment margin comparisons
The company is involved in various claims and must estimate probable losses when measurable.
Impact: Can affect operating expenses and liabilities
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Last updated: 24/09/2026