News Corp delivered a 17% lift in fiscal 2026 third-quarter normalized EBITDA to USD 343 million, with EBITDA margins improving 110 basis points to 15.7%. All divisions posted strong growth except News Media, where EBITDA more than halved year on year to just USD 15 million.
News Corporation's strong financial position and solid free cash generation separate the company from its peers.
Bears
The structural headwinds that have decimated the industry during the past decade may accelerate in the future, as technology and innovation provide consumers with even more
News Corporation is a diversified media conglomerate with significant presence in the US, the UK, and Australia. Key mastheads include The Wall Street Journal, Barron's, New York Post, The Times, The Sun, The Australian, Herald Sun, and The Daily Telegraph. Its 61%-owned REA Group is the dominant property listings platform in Australia. In addition, it owns Harper Collins, one of the largest book publishers in the world, and has a sizable US digital property advertising business, Move. The 65% interest in Foxtel, the Australian pay-TV and streaming provider, was sold in April 2025. The sale to global sports streaming platform, DAZN, was struck at more than 7 times Foxtel's EBITDA.