Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Jun. 30, 2023

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, 2023 and June 30, 2022 were as follows:

	As of June 30,
	2023		2022
	(in millions)
Intangible Assets Not Subject to Amortization
Trademarks and tradenames	$	267	$	411
Newspaper mastheads	281		281
Imprints	225		218
Radio broadcast licenses	122		118
Total intangible assets not subject to amortization	895		1,028
Intangible Assets Subject to Amortization
Publishing rights(a)	319		348
Customer relationships(b)	1,110		1,233
Other(c)	165		62
Total intangible assets subject to amortization, net	1,594		1,643
Total Intangible assets, net	$	2,489	$	2,671

Certain indefinite-lived tradenames have been reclassified to finite-lived as of June 30, 2023.

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(a)Net of accumulated amortization of $341 million and $306 million as of June 30, 2023 and 2022, 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 $846 million and $759 million as of June 30, 2023 and 2022, 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 $89 million and $85 million as of June 30, 2023 and 2022, respectively. The useful lives of other intangible assets range from 3 to 25 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, 2021	$	1,617	$	978	$	1,532	$	413	$	113	$	4,653
Acquisitions(a)	39		—		659		8		32		738
Foreign exchange and other	(95)		(99)		—		(14)		(14)		(222)
Balance, June 30, 2022	$	1,561	$	879	$	2,191	$	407	$	131	$	5,169
Acquisitions(a)	—		—		4		9		—		13
Foreign exchange and other	(19)		(20)		—		(3)		—		(42)
Balance, June 30, 2023	$	1,542	$	859	$	2,195	$	413	$	131	$	5,140

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