Core Viewpoint - Ben Levisohn has been appointed as the new editor in chief of Barron's, succeeding in a role that comes at a time of heightened investor interest in markets and the publication itself [1] Company Overview - Dow Jones announced the appointment of Ben Levisohn, a 15-year veteran of the company, who previously served as senior managing editor [1] - Barron's is recognized as a leading financial publication, established in 1921, known for its authoritative analysis and in-depth coverage of global financial markets [1] Leadership and Experience - Levisohn has a background as a Wall Street equities trader and transitioned to journalism in 2007, joining Dow Jones in 2010 and Barron's in 2012 [1] - His previous roles include writing popular columns such as Streetwise and Trader, and he served as deputy editor before becoming senior managing editor in August 2025 [1] Strategic Initiatives - Levisohn was instrumental in launching Barron's Investor Circle, a new premium experience for readers, which offers exclusive content and investing tools [1] - Dow Jones has recently reported a record quarter and six years of continuous growth, supported by its business news and intelligence units [1] Subscription and Market Position - The company currently boasts over 6 million subscriptions, positioning itself as a core provider of news and intelligence to large financial institutions and corporate customers [1] - In the context of AI advancements, Dow Jones is recognized as a leading provider of trusted proprietary data and exclusive news [1]

Core Insights - News Corporation (NWSA) reported second-quarter fiscal 2026 earnings of 40 cents per share, exceeding the Zacks Consensus Estimate by 21.21% and increasing 21% year over year [2][8] - Revenues reached $2.36 billion, a 6% year-over-year increase, surpassing the consensus mark by 2.26% [2][8] - The growth was driven by the Dow Jones, Digital Real Estate Services, and Book Publishing segments, which collectively accounted for 95% of profitability [3][8] Financial Performance - Adjusted revenues increased 3% year over year, with total segment EBITDA rising 9% to $521 million, marking the 11th consecutive quarter of year-over-year growth [3] - Net income from continuing operations was $242 million, down 21% from $306 million in the prior year [22] - Free cash flow for the six months ended Dec. 31, 2025, was $136 million, an increase from $121 million in the prior year [23] Segment Performance Digital Real Estate Services - Revenues increased 8% year over year to $511 million, driven by growth at REA Group and Move [4] - Move's revenues rose 10% year over year to $143 million, with a 13% increase in lead volume [5] - REA Group revenues grew 7% year over year to $368 million, despite a decrease in REA India revenues [6] Dow Jones - Revenues increased 8% year over year to $648 million, with digital revenues accounting for 83% of total revenues [7] - Segment EBITDA increased 10% to $191 million, marking a fourth consecutive quarter of double-digit growth [9] - Professional information business revenues grew 12% year over year [9] Book Publishing - Revenues reached a quarterly record of $633 million, a 6% increase year over year [14] - Segment EBITDA declined 2% to $99 million, impacted by a one-time write-off [14] - Digital sales increased 2% year over year, with e-book sales up 7% [15] News Media - Revenues were flat year over year at $570 million, with circulation and subscription revenues rising 4% [16] - Advertising revenues increased 10% to $133 million, driven by digital advertising growth [10] - Segment EBITDA declined 5% year over year to $70 million [19] Shareholder Returns - The company accelerated its share buyback program, repurchasing $172 million in shares during the quarter [24] - A semi-annual cash dividend of 10 cents per share was declared, payable on April 8, 2026 [25]

Financial Data and Key Metrics Changes - Revenues increased by 6% to $2.4 billion for the quarter, with total segment EBITDA expanding by 9% to $521 million, despite a one-time inventory-related charge at HarperCollins [4][20] - Net income from continuing operations was $242 million, a 21% decrease from the prior year, attributed to the absence of a favorable gain from the sale of PropertyGuru [4][21] - Adjusted EPS for the quarter was $0.40, compared to $0.33 in the prior quarter, with profitability margin rising from 21.4% to 22.1% [4][20] Business Line Data and Key Metrics Changes - **Dow Jones**: Revenues rose by 8% to $648 million, with segment EBITDA increasing by 10% to $191 million, achieving a record profit margin of 29.5% [21][24] - **Digital Real Estate Services**: Revenues grew by 8% to $511 million, with segment EBITDA up 11% to $206 million [25][20] - **Book Publishing**: Revenues increased by 6% to $633 million, while segment EBITDA declined by 2% to $99 million due to a one-time write-off [29][20] Market Data and Key Metrics Changes - In the U.S. market, Realtor.com saw revenues grow by 10%, driven by premium products and improved lead volume [11][25] - In Australia, REA's revenues grew by 7%, benefiting from double-digit yield growth and improved listing volumes [12][20] - Digital advertising revenue at Dow Jones reached a record level of $87 million, rising by 12% [8][24] Company Strategy and Development Direction - The company is focused on transforming into a digital-first entity, increasing recurring revenues while reducing dependence on advertising [5][19] - There is a strong emphasis on operational efficiency and margin expansion, with a disciplined approach to capital expenditures [18][19] - The company is exploring AI partnerships to enhance its content offerings and is confident in its ability to monetize proprietary content [6][35] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for the second half of the fiscal year, citing strong performance in core business segments and a robust balance sheet [4][16] - The evolving impact of AI on the industry was acknowledged, with management confident in the company's unique content and its ability to meet AI demands [35][39] - The company anticipates continued strong revenue growth in B2B and is focused on maximizing shareholder value through share buybacks [19][51] Other Important Information - The company repurchased $172 million in shares during the quarter, significantly higher than the previous year [20][51] - The launch of the California Post was highlighted as a strategic move to enhance the company's media presence [16][30] Q&A Session Summary Question: Market reaction to AI and its implications - Management clarified that AI's impact is often misunderstood, emphasizing the value of proprietary content and the company's strategy to monetize it [33][34] Question: Investment in Dow Jones and CapEx - Management confirmed confidence in Dow Jones and indicated that CapEx for Dow Jones would be modestly down this year, while overall free cash flow is expected to grow [38][41] Question: M&A strategy and areas of interest - Management stated that they are constantly looking for reasonable investment opportunities while also focusing on organic growth and share buybacks [49][50] Question: Simplifying the company structure - Management reiterated their focus on generating long-term value and expressed satisfaction with the progress of Realtor.com compared to competitors like Homes.com [55][56]

Financial Data and Key Metrics Changes - Revenues increased by 6% to $2.4 billion for the quarter, with total segment EBITDA expanding by 9% to $521 million, despite a one-time inventory-related charge at HarperCollins [4][20] - Net income from continuing operations was $242 million, a 21% decrease from the prior year, attributed to the absence of a favorable $87 million gain from the sale of PropertyGuru [4][21] - Adjusted EPS for the quarter was $0.40, compared to $0.33 in the prior quarter, with profitability margin rising from 21.4% to 22.1% [4][20] Business Line Data and Key Metrics Changes - **Dow Jones**: Revenues rose by 8% to $648 million, with segment EBITDA increasing by 10% to $191 million, achieving a record profit margin of 29.5% [21][24] - **Digital Real Estate Services**: Segment revenues grew by 8% to $511 million, with segment EBITDA up 11% to $206 million [25][20] - **Book Publishing**: Revenues increased by 6% to $633 million, although segment EBITDA declined by 2% to $99 million due to a one-time write-off [29][20] Market Data and Key Metrics Changes - In the U.S. market, Realtor.com saw revenues grow by 10% to $143 million, driven by improved lead volume and premium products [11][26] - In Australia, REA's revenues grew by 7% to $368 million, benefiting from yield growth and improved listing volumes [12][25] - Digital advertising revenue at Dow Jones reached a record level of $87 million, rising 12% supported by demand from the financial services sector [8][24] Company Strategy and Development Direction - The company is focused on transforming into a digital-first entity, increasing recurring revenues while reducing dependence on advertising [5][19] - There is a strong emphasis on operational efficiency and margin expansion, with a disciplined approach to capital expenditures [18][19] - The company is exploring AI partnerships to enhance its content offerings and is confident in its ability to monetize proprietary content in the evolving AI landscape [6][35] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for the second half of the fiscal year, citing strong performance in core business segments and a robust balance sheet [4][16] - The evolving impact of AI is acknowledged, with management confident in the company's unique content and its ability to meet the needs of AI companies [35][39] - The company anticipates continued strong revenue growth in B2B segments, particularly at Dow Jones, and is focused on maximizing shareholder value through share buybacks [19][51] Other Important Information - The company repurchased $172 million in shares during the quarter, significantly higher than the previous year [20][51] - The launch of the California Post is highlighted as a strategic move to enhance the company's media presence [15][16] Q&A Session Summary Question: Market reaction to AI and its implications for News Corp - Management clarified that AI's retrospective nature does not pose a significant threat, as the company produces contemporary, proprietary content that AI companies need to pay for [33][34] Question: Investment in Dow Jones and CapEx related to AI - Management expressed confidence in Dow Jones and indicated that CapEx for Dow Jones would be modestly down this year, while overall free cash flow is expected to grow [38][41] Question: M&A strategy and areas of interest - Management stated that they are constantly looking for reasonable investments but will prioritize organic growth and share buybacks [49][50] Question: Simplifying the company structure - Management emphasized a focus on generating long-term value and highlighted the positive trajectory of Realtor.com amidst competition [54][56] Question: Subscription revenue growth and pricing strategy at Dow Jones - Management noted that there is potential for price elasticity in subscriptions and highlighted the success in securing enterprise customers [63][66]

Financial Data and Key Metrics Changes - Revenues increased by 6% to $2.4 billion for the quarter, with total segment EBITDA expanding by 9% to $521 million, despite a one-time inventory-related charge at HarperCollins [4][20] - Net income from continuing operations was $242 million, a 21% decrease from the prior year, primarily due to the absence of a favorable $87 million gain from the sale of PropertyGuru [4][21] - Adjusted EPS for the quarter was $0.40, compared to $0.33 in the prior quarter, with profitability margin rising from 21.4% to 22.1% [4][20] Business Line Data and Key Metrics Changes - **Dow Jones**: Revenues rose by 8% to $648 million, with digital revenues accounting for 82% of segment revenues. Segment EBITDA grew by 10% to $191 million, achieving a profit margin of 29.5% [21][25] - **Digital Real Estate Services**: Revenues increased by 8% to $511 million, with segment EBITDA up 11% to $206 million. Realtor.com revenues grew by 10% to $143 million, driven by premium products and improved lead volume [11][26] - **Book Publishing**: Revenues grew by 6% to $633 million, although segment EBITDA declined by 2% to $99 million due to a one-time write-off related to inventory [29][31] Market Data and Key Metrics Changes - In Australia, REA revenues grew by 7%, benefiting from double-digit yield growth and improved listing volumes in major cities [12][26] - Digital advertising revenue at Dow Jones reached a record $87 million, rising by 12%, particularly supported by demand from the financial services sector [8][25] - The Times and The Sunday Times in the UK saw digital subscribers rise by 7% to 659,000, while News Corp Australia reached nearly 1.2 million total subscribers, surpassing the prior year by 4% [14][15] Company Strategy and Development Direction - The company is focused on transforming into a digital-first entity, increasing recurring revenues, and reducing dependence on advertising [5][19] - There is a strong emphasis on operational efficiency and disciplined investment in core growth pillars: Dow Jones, Digital Real Estate, and Book Publishing, which collectively accounted for 95% of profitability [18][19] - The company is actively pursuing AI partnerships and content licensing opportunities to enhance revenue streams [10][41] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the second half of the fiscal year, citing strong cash flow and a robust balance sheet [5][16] - The evolving impact of AI on the industry was discussed, with management confident in the value of proprietary content and the company's ability to monetize it [6][36] - The outlook for Dow Jones remains positive, with expectations of continued strong revenue growth in B2B segments [32] Other Important Information - The company repurchased $172 million in shares during the quarter, significantly higher than the previous year, and plans to continue this trend [20][51] - The launch of the California Post was highlighted as a strategic move to enhance the company's media presence [16] Q&A Session Summary Question: Market reaction to AI and its implications for business services - Management clarified that AI's impact is often misunderstood, emphasizing the value of proprietary content and the company's strategy to monetize it through partnerships and legal actions against unauthorized use [35][36] Question: Investment in Dow Jones and CapEx related to AI - Management expressed confidence in the Dow Jones Professional Information business and indicated that CapEx for Dow Jones would be modestly down this year, while overall free cash flow growth is expected to remain strong [40][42] Question: M&A strategy and areas of interest - Management stated that they are continuously looking for sensible investments but will prioritize organic growth and share buybacks at reasonable prices [49][50] Question: Simplifying the company structure and competition from Homes.com - Management noted ongoing evaluations of the company structure to enhance shareholder value and expressed confidence in Realtor.com's growth trajectory despite competition [54][56] Question: Subscription revenue growth and pricing strategy at Dow Jones - Management highlighted successful increases in enterprise customers and the potential for price elasticity, while also noting improvements in ARPU excluding enterprise customers [63][66]

Core Insights - Polymarket and Dow Jones have formed an exclusive partnership to integrate Polymarket's real-time prediction market data into Dow Jones consumer platforms, enhancing the understanding of market probabilities and future outcomes [1][2][4] Group 1: Partnership Overview - The collaboration aims to provide audiences with enhanced visibility into prediction market signals across various topics, including economic, political, and cultural issues [2] - Polymarket data will be featured on Dow Jones digital properties, including The Wall Street Journal, Barron's, MarketWatch, and Investor's Business Daily, through dedicated data modules and select print placements [2][3] Group 2: New Features and Consumer Benefits - Dow Jones plans to introduce consumer-facing features that incorporate prediction market data, such as a custom earnings calendar that highlights market-implied expectations regarding corporate performance [3] - Additional data-driven experiences are anticipated to be launched over time, further enriching the consumer experience [3] Group 3: Strategic Goals - The partnership aims to make prediction market data accessible to users, providing real-time insights into collective beliefs about future events, thereby aiding decision-making [4] - The collaboration combines journalistic insight with real-time market probabilities, creating a comprehensive news experience for readers, particularly around significant business news like public company earnings reports [4]

Earnings & Valuation - News has a gross revenue of $8.45 billion, while TKO Group has $2.80 billion, indicating that News has significantly higher revenue [2] - News's net income is $1.18 billion with earnings per share (EPS) of $2.07, compared to TKO Group's net income of $9.41 million and EPS of $2.61 [2] - News has a price-to-earnings (P/E) ratio of 12.67, which is lower than TKO Group's P/E ratio of 79.62, suggesting that News is currently more affordable [2] Risk and Volatility - News has a beta of 0.97, indicating its share price is 3% less volatile than the S&P 500, while TKO Group has a beta of 0.65, meaning its share price is 35% less volatile than the S&P 500 [3] Dividends - News pays an annual dividend of $0.20 per share with a dividend yield of 0.8%, while TKO Group pays $3.04 per share with a yield of 1.5% [4] - News pays out 9.7% of its earnings as dividends, whereas TKO Group pays out 116.5% of its earnings, indicating potential sustainability issues for TKO Group's dividend payments [4] Profitability - News has a net margin of 13.80%, return on equity (ROE) of 5.68%, and return on assets (ROA) of 3.29% [6] - TKO Group has a net margin of 5.27%, ROE of 2.57%, and ROA of 1.70%, showing lower profitability metrics compared to News [6] Analyst Ratings - News has a consensus price target of $37.95, indicating a potential upside of 44.74%, while TKO Group has a target of $224.50 with an upside of 8.04% [8] - Research analysts generally favor News over TKO Group, as evidenced by the higher probable upside for News [8] Institutional & Insider Ownership - 67.0% of News shares are held by institutional investors, while TKO Group has 89.8% institutional ownership [9] - Insider ownership for News is 13.6%, compared to 61.3% for TKO Group, suggesting stronger insider confidence in TKO Group [9] Summary - TKO Group outperforms News in 9 out of 17 factors compared, indicating a mixed performance between the two companies [10]

Group 1 - The Dow Jones Industrial Average is experiencing a significant increase, up 542 points or 1.1%, indicating a strong performance among its member stocks [1][2] - The Dow is on track to surpass its previous closing high of 47,706.37 set on October 28, marking its 16th closing high of the year [1] - In contrast, the S&P 500 rose by 0.3%, while the Nasdaq Composite fell by 0.2%, highlighting a divergence in performance among major indices [2]

Core Insights - The segment profits of the group that publishes The Wall Street Journal, MarketWatch, and Barron's increased by 10% [1] Financial Performance - The group reported a 10% rise in segment profits, indicating strong financial performance in its publishing operations [1]

Core Insights - News Corporation (NWSA) is a significant player in the global media and information services sector, with a market capitalization of approximately $17.3 billion, categorizing it as a large-cap company [1] - The company's diverse portfolio includes major brands such as The Wall Street Journal, Barron's, and HarperCollins, which enhance its reach in both consumer and business markets [2] Market Performance - NWSA stock reached a 52-week high of $30.86 on September 19 but has seen a slight decline since then, with a 9.1% increase over the past three months, compared to a 15.8% gain in the Nasdaq Composite [3] - Over the past 52 weeks, NWSA has advanced by 15.4%, while the Nasdaq surged by 25.6%, indicating a lag in momentum for NWSA [4] Technical Analysis - The stock has consistently traded above its 50-day moving average of $29.52 since mid-August and above the 200-day moving average of $28.33 since late June, with a notable period of trading above both averages starting in early September [4] Financial Performance - In Q4 2025, NWSA reported revenue of $2.11 billion, surpassing analyst expectations of $2.10 billion, driven by increased digital subscriptions and strong performance from the Dow Jones unit, although adjusted EPS of $0.19 slightly missed the forecast of $0.20 [5] Strategic Developments - The company plans to expand its operations on the West Coast with the launch of The California Post in early 2026 and aims to accelerate its stock buyback program while increasing investments in Dow Jones Professional Information Services [6]