The company continues to focus on its digital real estate services segment, with REA Group experiencing growth in Australia and REA India, while Move faces challenges in the U.S. housing market. REA Group acquired all remaining shares of CampaignAgent and Realtair.

The Subscription Video Services segment is focusing on streaming growth with Kayo Sports and BINGE, and Hubbl, while managing declines in residential broadcast subscribers. This signals a shift in strategy towards streaming services.

Dow Jones is expanding into new markets such as energy and renewables information through the OPIS business. The company is also licensing its content for use by generative AI platforms.

The company implemented cost savings initiatives, including a 5% headcount reduction, generating annualized gross cost savings in excess of $160 million, the majority of which was reflected in fiscal 2024. This demonstrates management's ability to execute on cost control measures.

News UK and DMG Media combined certain printing operations within a separate joint venture. The Company believes this arrangement will 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.

The company takes extensive steps to ensure the safety of its journalists and other personnel in Ukraine and Russia. The Company engaged legal counsel for a reporter and provided continuing support to help facilitate his release in August 2024.

The company acknowledges increasing competition from alternative content distribution platforms, user-generated content, and recent developments in AI, particularly generative AI, which could reduce audience size and subscriber demand.

The company is subject to risks and uncertainties from events outside its control that impact macroeconomic and market conditions or disrupt its business, including economic weakness, uncertainty or volatility, geopolitical tensions, conflicts or wars, pandemics and other health crises, natural disasters, severe weather events, hostilities, political or social unrest, terrorism or other similar events.

The Company's business activities are subject to laws and regulations governing the collection, use, sharing, protection and retention of personal data, which continue to evolve and have implications for how such data is managed.

REA Group's realestate.com.au had 127.7 million average monthly visits, 4.1 times more than the nearest competitor. This highlights REA Group's strong competitive position in the Australian market.

News UK publishes The Sun, The Times and The Sunday Times, which are leading newspapers in the U.K. that together accounted for approximately one-third of all national newspaper sales as of June 30, 2024. The Sun is the most read news brand in the U.K.

The company's success depends on its continued ability to maintain and enhance its brands. The company's brands, credibility and reputation could be damaged by incidents that erode consumer and customer trust or a perception that the company's products and services are low quality, unreliable or fail to maintain independence and integrity.

The company implemented cost savings initiatives, including the 5% headcount reduction announced in February 2023. The headcount reduction was substantially completed as of December 31, 2023 and the Company recognized associated cash restructuring charges of approximately $106 million.

News UK and DMG Media combined certain printing operations of both companies within a separate joint venture. The Company believes this arrangement will 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.

The Company's businesses depend on a single or limited number of third-party suppliers for certain key products and services. If the Company's relationship with key suppliers deteriorates, the Company's business, results of operations and financial condition may be adversely affected.

The Dow Jones segment continues to capitalize on a variety of digital distribution platforms, technologies and business models for these products, including licensing its content for distribution on third party subscription and non-subscription platforms, and for use by generative artificial intelligence (“AI”) platforms.

The Company's digital real estate services businesses operate in highly competitive markets that are evolving rapidly in response to new technologies, business models and practices, product and service offerings and changing consumer and customer preferences.

Difficulty managing and adapting to such changes has impeded, and could in the future impede, the Company's ability to compete effectively by decreasing visits to, and advertiser interest in, its digital offerings, increasing costs if free traffic is replaced with paid traffic and lowering product sales and subscriptions.

The Company continued its stock repurchase program, repurchasing $117 million of stock during the fiscal year. The remaining authorized amount under the Repurchase Program as of June 30, 2024 was approximately $460 million.

Capital expenditures totaled $496 million for the fiscal year, with significant investments in the Foxtel Group and digital real estate services businesses. This indicates a continued focus on investing in core business operations.

The company used $134 million for investments and acquisitions, including the acquisition of OPIS, and UpNest. This demonstrates a strategy of growth through strategic acquisitions.

Performance on ethics and compliance and other ESG objectives is evaluated in determining whether any reduction to the payout of incentive compensation for executive officers is warranted.

The Company believes that having a workforce with a diversity of experiences, abilities, backgrounds and perspectives strengthens its ability to create brands, content and products that educate and resonate with its customers and audiences around the world. The Company seeks to foster an environment where all employees feel valued, included and empowered to bring great ideas to the table.

The health, safety, security and wellbeing of the Company's employees is a top priority of the Company's human capital management strategy.

The Company is particularly exposed to (1) certain Australian business risks because it holds a substantial amount of Australian assets and generated approximately 40% of its fiscal 2024 revenues from Australia and (2) to a lesser extent, business risks relating to the U.K., where it generated approximately 13% of its fiscal 2024 revenues.

Certain brokerages and franchisors, as well as NAR, face class action lawsuits alleging antitrust violations, and the Department of Justice (the “DOJ”) is also seeking to resume its previously settled antitrust investigation into NAR.

The Company derives substantial revenues from the sale of advertising, and its ability to generate advertising revenue depends on a number of factors, including: (1) demand for its products and services, (2) audience fragmentation, (3) digital advertising trends, (4) its ability to offer attractive advertising products and formats, (5) general economic and business conditions, (6) customer demographics, (7) advertising rates and effectiveness and (8) its brand strength and reputation.