Here are 1-3 brief analogies for News Corp (NWS):

1. Imagine a global **The New York Times Company** that also owns a major digital real estate platform like **Zillow** and a large book publisher like **Penguin Random House**.

2. A diversified information and content company, akin to a consumer-facing **Thomson Reuters** that also operates major digital real estate platforms and publishes books.

3. A modern media conglomerate, similar to a global **Gannett** (a large newspaper publisher) that diversified significantly into book publishing (HarperCollins) and digital real estate (Realtor.com).

• Digital Real Estate Platforms: Operates online platforms like realtor.com and REA Group properties, connecting buyers, sellers, and renters with real estate listings and services.
• Book Publishing: Publishes a wide range of fiction, non-fiction, and children's books through imprints like HarperCollins.
• News Media: Produces and distributes news, analysis, and information through prominent newspapers, websites, and newswires such as The Wall Street Journal, The Times, and Dow Jones Newswires.
• Subscription Video Services: Provides pay-TV and streaming sports and entertainment content through platforms such as Foxtel, Kayo Sports, and Binge.

News Corp (NWS) is a diversified global media and information services company. While it directly serves a vast individual consumer base through its news publications and video services, a significant portion of its revenue is generated through direct business-to-business (B2B) relationships. Considering its major segments, such as Digital Real Estate Services (Realtor.com, REA Group), Book Publishing (HarperCollins Publishers), and business-to-business offerings within its News Media segment (Dow Jones professional information services and advertising sales), News Corp primarily sells to other companies.

Its major business customers include:

• Digital Real Estate Professionals and Agencies: These are the real estate agents, brokers, and property developers that subscribe to and advertise on News Corp's digital real estate platforms. This includes customers of Realtor.com (U.S., operated by Move, Inc.) and realestate.com.au (Australia, operated by REA Group). This constitutes a large and critical B2B customer base for News Corp, comprising thousands of individual professionals and firms.
• Book Retailers and Distributors: For News Corp's HarperCollins Publishers segment, these companies purchase books wholesale for resale to end consumers. Key direct customer examples include:
  • Amazon.com, Inc. (AMZN)
  • Walmart Inc. (WMT)
  • Target Corporation (TGT)
  • Barnes & Noble (privately held, but a major industry player)
  • Various independent bookstores and library distributors.
• Corporate and Financial Institutions: These businesses are direct subscribers to Dow Jones' professional information products, such as Factiva (a global news and business information database) and Risk & Compliance (solutions for regulatory compliance and risk management). This segment serves a wide array of companies in financial services, legal, corporate, and government sectors globally.
• Advertisers: Across all of News Corp's diverse media properties (including The Wall Street Journal, The Sun, The Times, New York Post, The Australian, and various digital platforms), businesses from a multitude of industries purchase advertising space and services. While these are not single named public companies, collectively, advertisers form a substantial and critical B2B customer segment.

Major suppliers for News Corporation (NWS) include:

• The Walt Disney Company (DIS)
• Warner Bros. Discovery (WBD)
• Paramount Global (PARA)
• Comcast (CMCSA)
• Amazon (AMZN)
• Microsoft (MSFT)

Robert Thomson, Chief Executive Officer

Robert Thomson has served as Chief Executive Officer of News Corp since January 2013. Prior to this role, he was editor-in-chief of Dow Jones & Company and managing editor of The Wall Street Journal from May 2008 to 2012, where he directed global news operations. He also held the position of editor of The Times of London from 2002 to 2008, being the first non-British editor of the newspaper. His career in journalism began as a copyboy at The Herald in Melbourne in 1979, and he subsequently held various roles at the Financial Times, including foreign news editor and U.S. managing editor. He is the author and editor of several books.

Lavanya Chandrashekar, Chief Financial Officer

Lavanya Chandrashekar joined News Corp as Chief Financial Officer in January 2025. Before her appointment at News Corp, Ms. Chandrashekar was the Chief Financial Officer of Diageo from July 2021 to September 2024, where she played a key role in the company's accelerated growth and digital transformation. She also served as a Director on the Board of Diageo PLC. Her prior experience includes various senior positions at major consumer-facing companies such as Procter & Gamble and Mondelēz.

David Pitofsky, Executive Vice President, General Counsel, and Chief Compliance Officer

David Pitofsky serves as Executive Vice President, General Counsel, and Chief Compliance Officer for News Corp.

Julian Delany, Executive Vice President, Chief Technology Officer

Julian Delany holds the position of Executive Vice President and Chief Technology Officer at News Corp, having been appointed in June 2025.

Anoushka Healy, Executive Vice President, Chief Strategy Officer

Anoushka Healy is the Executive Vice President and Chief Strategy Officer for News Corp.

• Direct-to-Consumer (DTC) Streaming Services challenging Subscription Video: The ongoing market shift from traditional pay-television bundles to a fragmented landscape of direct-to-consumer streaming services (e.g., Netflix, Disney+, Amazon Prime Video, Stan). These services offer lower costs and greater flexibility, directly eroding the subscriber base and revenue streams of News Corp's Subscription Video Services (Foxtel) and forcing adaptation of its legacy business model. This parallels Netflix threatening Blockbuster.
• "iBuying" and Disintermediation Models impacting Digital Real Estate: The emergence and growth of business models like "iBuying" (e.g., Opendoor, Offerpad) where companies directly buy and sell homes, bypassing traditional real estate agents and, by extension, the listing portals (like REA Group and Realtor.com) that rely on agent advertising and listing fees. Other platforms that facilitate direct buyer-seller transactions also pose a threat by disintermediating the traditional listing process. This is analogous to Uber threatening traditional taxicab businesses.
• Generative AI for News Content Creation and Distribution: The rapid advancement of generative artificial intelligence (AI) tools capable of producing, summarizing, and distributing news content at scale. This technology threatens to commoditize news creation, reduce the perceived value of human-authored journalism, and potentially disrupt traditional revenue models (subscriptions and advertising) by offering alternative, often free, AI-generated or aggregated content. This echoes YouTube threatening cable companies by offering new content models and distribution channels.

News Corporation (NWS) operates across several key segments, each with its own addressable market. The main products and services include Digital Real Estate Services, News and Information Services, and Book Publishing. While News Corp previously had a significant presence in Subscription Video Services, it has recently divested its Foxtel Group stake.

• Digital Real Estate Services: The global real estate software market was valued at approximately USD 12.2 billion in 2024 and is projected to reach USD 28.2 billion by 2033, exhibiting a compound annual growth rate (CAGR) of 9.27% during 2025-2033. North America currently dominates this market, holding a significant share of over 34% in 2024. Another estimate for the global IT in Real Estate market size was USD 10.52 billion in 2024, expected to reach USD 23.16 billion by 2032.

• News and Information Services: The global information services market was valued at $169.11 billion in 2024 and is predicted to grow to $219.97 billion by 2028, with a CAGR of 6.8%. The Asia-Pacific region was the largest in this market in 2023. Separately, the global Newspaper Publishing market size was estimated at USD 82.3 billion in 2024 and is projected to decline to USD 65.89 billion by 2034. Global newspaper advertising, a component of this market, was projected at US$33.35 billion in 2024.

• Book Publishing: The global book publishing market was estimated at USD 136.5 billion in 2024 and is predicted to grow to approximately USD 229.5 billion by 2035, with a CAGR of 4.84% from 2025 to 2035. North America is anticipated to hold the largest share of the book publishing market. Other sources provide slightly different figures, with the market growing from USD 82.25 billion in 2024 to USD 86.14 billion in 2025 and expected to reach USD 121.54 billion by 2032 globally.

• Subscription Video Services: While News Corp recently sold its Foxtel Group stake, the broader global video streaming market was valued at $674.25 billion in 2024 and is projected to grow to $2,660.88 billion by 2032. The global broadcasting and cable TV market size was estimated at USD 356.45 billion in 2024 and is projected to reach USD 449.91 billion by 2030. North America held the largest share in both video streaming (38.36% in 2024) and broadcasting/cable TV (over 40% in 2024).

News Corporation (NWS) is expected to drive future revenue growth over the next two to three years through several key strategies across its diverse portfolio. These drivers primarily stem from its core growth pillars and strategic digital transformation initiatives.

1. Expansion and Enhanced Offerings in Digital Real Estate Services: News Corp anticipates continued revenue growth from its Digital Real Estate Services segment, particularly through REA Group in Australia and Move in the United States. REA Group has demonstrated strong performance, benefiting from price increases, increased depth penetration, and a rise in national listings in the Australian residential market. In the U.S., Move is focusing on premium offerings like RealPRO SelectSM, contributing to revenue increases. The company has also considered strategic acquisitions to expand its digital real estate footprint.

2. Growth in Dow Jones' Professional Information Business and Digital Subscriptions: The Dow Jones segment is a significant driver, propelled by the robust performance of its professional information business, including Risk & Compliance and Dow Jones Energy. Growth in digital subscriptions for flagship publications like The Wall Street Journal and Barron's is also a key factor, supported by premium content, product bundling, and AI-driven personalization to enhance reader engagement and retention. Digital revenues consistently account for a substantial and growing portion of Dow Jones' total revenues.

3. Continued Strength in Book Publishing: The Book Publishing segment, primarily HarperCollins, is expected to contribute to revenue growth through sustained strong sales of both physical and digital books. Growth in digital audiobooks has also been a notable trend. Strategic acquisitions, such as a German book publisher, are also anticipated to support this growth.

4. Strategic AI Partnerships and Content Monetization: News Corp is actively pursuing and benefiting from strategic partnerships related to artificial intelligence. A landmark multi-year global partnership with OpenAI is expected to be a lucrative revenue stream and facilitate the future of professional journalism. The company is also focused on monetizing its intellectual property in the AI landscape and is taking legal steps against unauthorized use of its content.

Share Repurchases

• News Corp authorized a new $1 billion stock repurchase program on July 15, 2025.
• This new authorization is in addition to an existing $1 billion program approved in September 2021, with $303 million remaining outstanding under that program as of July 15, 2025.
• As of November 4, 2025, approximately $854 million worth of Class A and Class B shares had been repurchased under the 2021 program.

Share Issuance

• On September 8, 2025, trusts associated with Prudence MacLeod, Elisabeth Murdoch, and James Murdoch and their descendants and charitable organizations announced their intention to offer 14,182,161 shares of News Corp's Class B common stock in an underwritten public offering.
• News Corp itself did not sell any shares in this offering and did not receive any proceeds from it.

Outbound Investments

• In 2021, News Corp acquired Investor's Business Daily (IBD) for $275 million to enhance Dow Jones' digital offerings.
• Dow Jones completed key acquisitions of OPIS for $1.15 billion and Base Chemicals for $295 million from S&P Global/IHS Markit, expanding its energy and commodities data services.
• In April 2025, News Corp sold its interest in Foxtel Group to DAZN, receiving a minority equity interest of approximately 6% in DAZN, valued at $648 million, and a seat on its Board of Directors.

Capital Expenditures

• News Corp expanded capital expenditures at Dow Jones, specifically within its rapidly growing professional information business, during fiscal year 2025.
• The company's free cash flow for fiscal 2025 increased to $571 million from $540 million in the prior year, even with the expanded capital expenditures.