News Corp pairs record fiscal 2026 with faster buybacks

Record fiscal 2026 supports faster capital returns

News Corporation (NASDAQ:NWSA) used its annual meeting to put a strong gloss on fiscal 2026, reporting record continuing-operations revenue of US$9 billion and a sharp increase in shareholder returns. Chief Executive Robert Thomson said revenue rose 7%, Total Segment EBITDA increased 15% to more than US$1.6 billion, and free cash flow climbed 42% to US$811 million.

Net income from continuing operations rose 15% to US$743 million, according to prepared remarks delivered by Thomson. The stronger cash position supported US$643 million of share buybacks, which he said represented an acceleration to more than four times the prior year's rate. The figures appeared in management's meeting remarks rather than audited financial statements in this filing, so the company's formal annual reporting remains the reference point for final detail.

Dow Jones and digital real estate led the portfolio

Dow Jones remained one of the central growth engines, with revenue up 7% to nearly US$2.5 billion and Segment EBITDA up 13% to US$663 million. News subscriptions reached more than 6.7 million, a 7% increase, while management pointed to continued expansion in enterprise subscriptions, risk and compliance products and Dow Jones Energy.

Digital Real Estate Services delivered the fastest reported profit growth among the major segments. Revenue rose 12% to US$2 billion, while Segment EBITDA increased 23% to US$741 million. REA Group generated US$1.4 billion of revenue, also up 12%, as the company highlighted mortgage broking and other adjacent services as areas of continued focus. That performance came after the fiscal 2027 first-quarter results showed stronger earnings but negative free cash flow, a reminder that reported profit and cash generation may not move in lockstep.

Shareholders endorse board and annual pay votes

The meeting produced little resistance to the company's governance slate. All six director nominees were elected, with Robert Thomson receiving 99.6% of votes cast in favour and Chair Lachlan Murdoch receiving 93.0%. José María Aznar recorded the lowest support at 81.8%, although the vote still cleared a substantial majority.

Shareholders also ratified Ernst & Young as auditor with 98.8% support and approved executive compensation on an advisory basis with 95.8%. The preference for annual say-on-pay votes was especially clear: 99.3% backed a one-year frequency, meaning the company will continue holding the advisory compensation vote each year until the next required frequency vote.

AI strategy combines licensing with content protection

Management framed the results against a media industry being reshaped by artificial intelligence. Chair Lachlan Murdoch said the company was pursuing partnerships with companies that respect the value of its content, while Thomson described a parallel “woo and sue” approach involving aggressive action against those accused of taking and profiting from News Corp content at scale.

The strategic pitch rests on the company's mix of journalism, specialist data, publishing and digital property services. Book Publishing revenue reached US$2.3 billion, up 6%, while News Media revenue rose 3% to US$2.2 billion. The next test is whether the cash-rich performance can be sustained while News Corp funds digital growth, protects intellectual property and continues buying back stock at the much faster pace disclosed to shareholders.