News Corporation

News Corporation is a global diversified media and information services company that operates the Wall Street Journal, Dow Jones professional information businesses, HarperCollins Publishers, realtor.com, and a portfolio of news media assets across the United States, Australia, and the United Kingdom, generating $8.45 billion in revenue in fiscal 2025.

This is a story about a company that has spent a decade transforming from a newspaper conglomerate into something the market still hasn't fully priced: a digital information-services business with a recurring revenue core, a professional data franchise growing at double digits, and an emerging AI-content licensing revenue stream whose size is genuinely uncertain but whose direction is not. The sale of Foxtel in April 2025 removed the last major non-core distraction, and the company enters fiscal 2026 with a clean portfolio, a fortress balance sheet, and an accelerated buyback program backed by management's stated conviction that the stock is materially undervalued.

The file turns on a single question: whether Dow Jones' Professional Information business can compound fast enough, and AI licensing deals grow large enough, to make the market re-rate what it still treats as a collection of declining newspapers.