Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Carrying Values of Intangible Assets and Related Accumulated Amortization

The carrying values of the Company’s intangible assets and related accumulated amortization for the fiscal years ended June 30, 2021 and June 30, 2020 were as follows:

	As of June 30,
	2021		2020
	(in millions)
Intangible Assets Not Subject to Amortization
Trademarks and tradenames	$	389	$	321
Newspaper mastheads	282		281
Imprints	250		224
Radio broadcast licenses	136		121
Total intangible assets not subject to amortization	1,057		947
Intangible Assets Subject to Amortization
Publishing rights(a)	383		261
Customer relationships(b)	697		647
Other(c)	42		9
Total intangible assets subject to amortization, net	1,122		917
Total Intangible assets, net	$	2,179	$	1,864

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(a)Net of accumulated amortization of $275 million and $252 million as of June 30, 2021 and 2020, respectively. The useful lives of publishing rights range from 3 to 30 years primarily based on the weighted-average remaining contractual terms of the underlying publishing contracts and the Company’s estimates of the period within those terms that the asset is expected to generate a majority of its future cash flows.

(b)Net of accumulated amortization of $693 million and $592 million as of June 30, 2021 and 2020, respectively. The useful lives of customer relationships range from 3 to 25 years. The useful lives of these assets are estimated by applying historical attrition rates and determining the resulting period over which a majority of the accumulated undiscounted cash flows related to the customer relationships are expected to be generated.

(c)Net of accumulated amortization of $81 million and $79 million as of June 30, 2021 and 2020, respectively. The useful lives of other intangible assets range from 2 to 15 years. The useful lives represent the periods over which these intangible assets are expected to contribute directly or indirectly to the Company’s future cash flows.

Schedule of Changes in Carrying Value of Goodwill, by Segment

The changes in the carrying value of goodwill, by segment, are as follows:

	Digital Real Estate Services		Subscription Video Services		Dow Jones		Book Publishing		News Media		Total Goodwill
	(in millions)
Balance, June 30, 2019	$	1,350	$	1,844	$	1,368	$	266	$	319	$	5,147
Acquisitions	—		—		—		10		2		12
Impairments	—		(882)		—		—		(216)		(1,098)
Dispositions	(2)		—		—		—		—		(2)
Foreign exchange and other	(15)		(77)		—		(12)		(4)		(108)
Balance, June 30, 2020	$	1,333	$	885	$	1,368	$	264	$	101	$	3,951
Acquisitions(a)	224		—		166		124		—		514
Impairments	—		—		—		—		—		—
Dispositions	—		—		—		(1)		—		(1)
Foreign exchange and other	60		93		(2)		26		12		189
Balance, June 30, 2021	$	1,617	$	978	$	1,532	$	413	$	113	$	4,653

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(a)See Note 4—Acquisitions, Disposals and Other Transactions for the primary drivers of increases in goodwill by segment.