News UK and DMG Media announced a proposed arrangement to combine certain printing operations. The Company believes this proposal would help improve the efficiency of News UK and DMG Media's print operations and establish a sustainable business model for national newspaper printing in the U.K.

Streaming revenues at Foxtel Group increased $13 million, primarily due to increased volume and pricing at Kayo and BINGE, despite a more difficult Summer sports season and inflationary pressures. Foxtel Group streaming subscription revenues represented approximately 29% of total circulation and subscription revenues for the three months ended December 31, 2023.

Revenues at REA Group increased $52 million, or 22%, to $292 million for the three months ended December 31, 2023, primarily driven by higher Australian residential revenues due to price increases, increased depth penetration, favorable geographic mix and growth in national listings and higher financial services revenue.

In response to macroeconomic challenges, the Company implemented cost-saving initiatives, including a 5% headcount reduction. The Company has notified substantially all of the affected employees and recognized associated cash restructuring charges of approximately $106 million through December 31, 2023.

During the six months ended December 31, 2023, the Foxtel Group refinanced its A$610 million 2019 revolving credit facility, A$250 million term loan facility and tranche 3 of its 2012 U.S. private placement senior unsecured notes with the proceeds of a new A$1.2 billion syndicated credit facility.

During the six months ended December 31, 2023, REA Group entered into a new unsecured syndicated credit facility which replaces the 2022 Credit Facility and consists of two sub-facilities.

There have been no material changes to the risk factors described in the 2023 Form 10-K.

REA Group's revenues increased $52 million, or 22%, primarily driven by higher Australian residential revenues due to price increases, increased depth penetration, favorable geographic mix and growth in national listings and higher financial services revenue.

Streaming revenues at Foxtel Group increased $13 million, primarily due to increased volume and pricing at Kayo and BINGE, despite a more difficult Summer sports season and inflationary pressures.

Digital revenues represented 78% of total revenues for the three months ended December 31, 2023, as compared to 76% in the corresponding period of fiscal 2023. The Wall Street Journal digital subscriptions are growing.

The Company implemented a number of cost savings initiatives, including the 5% headcount reduction announced in February 2023. The Company expects to generate annualized gross cost savings of at least $160 million, the majority of which will be reflected in fiscal 2024.

Segment EBITDA at the Book Publishing segment increased $34 million, or 67%, primarily due to the higher revenues and lower manufacturing, freight and distribution costs driven by product mix and the absence of prior year supply chain challenges and inventory and inflationary pressures.

Segment EBITDA at the News Media segment decreased primarily due to lower revenues, partially offset by lower production costs at News UK driven by lower print volume and newsprint prices and gross cost savings related to the announced 5% headcount reduction initiative.

Digital revenues represented 78% of total revenues for the three months ended December 31, 2023, as compared to 76% in the corresponding period of fiscal 2023. The Wall Street Journal digital subscriptions are growing.

During the three and six months ended December 31, 2023, the Company repurchased and subsequently retired 0.8 million and 1.8 million shares, respectively, of Class A Common Stock and 0.4 million and 0.8 million shares, respectively, of Class B Common Stock.

In August 2023, the Board of Directors declared a semi-annual cash dividend of $0.10 per share for Class A Common Stock and Class B Common Stock.

During the six months ended December 31, 2023, REA Group entered into an A$83 million unsecured bilateral revolving credit facility (the '2024 Subsidiary Facility').

There is no specific mention of any ESG initiatives in this 10-Q filing.

Revenues at Move decreased $19 million, or 13%, primarily driven by the continued impact of the macroeconomic environment on the housing market, including higher interest rates.

Digital sales increased by 15% as compared to the corresponding period of fiscal 2023 driven by strong market growth for downloadable audiobook sales as well as the contribution from a new Spotify partnership.

The impact of foreign currency fluctuations of the U.S. dollar against local currencies resulted in a revenue increase of $13 million, or 1%, for the three months ended December 31, 2023 as compared to the corresponding period of fiscal 2023.