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    News Corp (NWSA)

    CFO Change

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    News Corporation (News Corp) is a global diversified media and information services company that operates across several segments, including digital real estate services, subscription video services, news and information services, and book publishing . The company manages its businesses in six segments, with Dow Jones being the largest contributor to overall company revenue . News Corp's offerings include digital real estate platforms, subscription television services, business and financial news, book publishing, and various news media brands .

    1. Dow Jones - Provides news and business information through brands like The Wall Street Journal, Barron’s, and MarketWatch, focusing on both consumer and professional information products, with digital revenue accounting for a significant portion of the segment's revenues .
    2. Digital Real Estate Services - Includes a 61.4% interest in REA Group and an 80% interest in Move, which operates Realtor.com®. REA Group specializes in property-related data and services, while Move offers real estate advertising solutions and online tools for landlords and tenants in the U.S. .
    3. Subscription Video Services - Holds a 65% interest in the Foxtel Group, the largest Australian-based subscription television provider, offering sports, entertainment, and news services via satellite and internet distribution, including the Australian News Channel operating Sky News Australia .
    4. Book Publishing - Represented by HarperCollins Publishers, one of the largest English-language publishers in the world, which has seen strong digital revenue growth .
    5. News Media - Includes various news and information services distributed under brands such as The Australian, Herald Sun, The Sun, and The Times .
    6. Other - Encompasses the company's general corporate overhead expenses and strategy costs .
    NamePositionStart DateShort Bio
    K. Rupert MurdochExecutive Chair2012K. Rupert Murdoch served as the Executive Chair of News Corporation since 2012. He stepped down on November 15, 2023, and will serve as Chairman Emeritus following his retirement .
    Robert J. ThomsonChief Executive OfficerJanuary 2013Robert J. Thomson has been the CEO of News Corp since January 2013. He previously held roles such as Editor-in-Chief of Dow Jones and Managing Editor of The Wall Street Journal .
    Susan PanuccioChief Financial Officer2017Susan Panuccio has been the CFO of News Corp since 2017. She previously served as CFO of News Corp Australia and News UK, and joined the company in 2002 .
    David B. PitofskyGeneral Counsel2015David B. Pitofsky has been the General Counsel of News Corporation since 2015. He also served as Chief Compliance Officer until August 2023 and was previously a partner at Goodwin Procter LLP .
    Lavanya ChandrashekarIncoming Chief Financial OfficerJanuary 1, 2025Lavanya Chandrashekar will become the CFO of News Corp on January 1, 2025. She has nearly 30 years of experience in finance, having served as CFO of Diageo plc and held senior positions at Procter & Gamble and Mondelēz International .
    1. With digital circulation revenues at Dow Jones rising only 4%, despite a 15% increase in digital-only subscriptions, how confident are you in sustaining this growth, and what strategies are you implementing to improve revenue conversion from the growing subscriber base?

    2. Given that advertising revenues at Dow Jones declined 7%, with digital advertising down 5% due to softness in the technology and finance categories, are there specific factors causing this underperformance compared to peers, and when do you expect advertising revenues to recover?

    3. The Factiva dispute impacted growth by about 6% this quarter, affecting the Professional Information Business's overall growth to 8% from the low to mid-teens last year. Can you provide more details on this dispute, its resolution timeline, and how it influences your growth outlook for this segment?

    4. You mentioned being in active discussions over the future of Foxtel, and the Foxtel loan balance now sits at AUD 545 million. Can you elaborate on the strategic options being considered for Foxtel and how these might unlock shareholder value and address the perceived undervaluation of your assets?

    5. With ongoing legal actions against AI companies like Perplexity and expectations of higher AI-related costs, including legal expenses, how do you balance the costs and benefits of litigation versus partnership in the AI space, and what is your strategy for monetizing your content amid these challenges?

    Program DetailsProgram 1
    Approval DateSeptember 22, 2021
    End Date/DurationNo time limit
    Total additional amount$1 billion
    Remaining authorization amount$422 million (as of September 30, 2024)
    DetailsAllows purchase of Class A and Class B Common Stock; may be modified, suspended, or discontinued at any time
    YearAmount Due (in millions)Debt TypeInterest Rate (%)% of Total Debt
    2025$1382024 REA Credit Facility – Tranche 25.63 4.8% = (138 / 2,900) * 100
    2025$442024 Foxtel Credit Facility – Tranche 28.36 1.5% = (44 / 2,900) * 100
    2025$1952024 Foxtel Credit Facility – Tranche 37.48 6.7% = (195 / 2,900) * 100
    2026$644Foxtel Credit Facility – Tranche 1, Working Capital Facility7.33 22.2% = (644 / 2,900) * 100
    2027$6172022 Term Loan A, Telstra Facility6.81, 12.25 21.3% = (617 / 2,900) * 100
    2028$1382024 REA Credit Facility – Tranche 15.93 4.8% = (138 / 2,900) * 100
    2029$9922021 Senior Notes3.875 34.2% = (992 / 2,900) * 100
    2032$4932022 Senior Notes5.125 17.0% = (493 / 2,900) * 100
    NameStart DateEnd DateReason for Change
    Ernst & Young LLP2012 PresentCurrent auditor

    Recent developments and announcements about NWSA.

    Corporate Leadership

      CFO Change

      ·
      Nov 7, 2024, 12:00 AM

      Susan Panuccio, the current Chief Financial Officer (CFO) of News Corp, will be leaving her position on January 1, 2025. She will be succeeded by Lavanya Chandrashekar, who previously served as CFO of Diageo. Panuccio will remain with the company as a Senior Advisor until June 29, 2025, to ensure a smooth transition .