News Corp FY-25 10-K: $8.5 bn Revenue, Foxtel Sold, 6 m Digital Subs

Q: What is the size of The Wall Street Journal鈥檚 digital-only subscriber base?

4.126 million digital-only subscriptions on average during Mar-Jun 2025.

[8-K] Lineage, Inc. Reports Material Event

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

News Corporation filed its Form 10-K for the fiscal year ended 30 Jun 2025. Foxtel was sold on 2 Apr 2025; all related results are now reported as discontinued operations, eliminating the former Subscription Video Services segment.

Continuing operations 鈥� FY-25 revenue & EBITDA (US$ mn)

Dow Jones: $2,331 revenue / $588 EBITDA
Digital AG真人官方 Estate Services: $1,802 / $601
Book Publishing: $2,149 / $296
News Media: $2,170 / $153
Other: $0 / 鈥�$223

Dow Jones consumer metrics for the Mar-Jun quarter show 4.126 m digital-only WSJ subscriptions and 6.261 m total consumer subscriptions (print + digital). REA Group鈥檚 Australian portal averaged 132 m monthly visits; AG真人官方tor.com averaged 72 m monthly unique users in Q4. News UK reports 640 k digital subscribers for The Times/Sunday Times; News Australia counted 993 k digital subscribers across mastheads.

As of 1 Aug 2025 the company had 376.4 m Class A and 188.5 m Class B shares outstanding. Market value held by non-affiliates on 27 Dec 2024 totalled roughly $14 bn.

雺挫姢旖旐嵓霠堨澊靺�鞚€ 2025雲� 6鞗� 30鞚茧 膦呺霅� 須岅硠鞐半弰鞐� 雽€頃� Form 10-K毳� 鞝滌稖頄堨姷雼堧嫟. Foxtel鞚€ 2025雲� 4鞗� 2鞚检棎毵り皝霅橃棃鞙茧┌, 甏€霠� 氇摖鞁れ爜鞚€ 欷戨嫧霅� 靷梾鞙茧 氤搓碃霅橃柎鞚挫爠鞚� 甑弲牍勲敂鞓� 靹滊箘鞀� 攵€氍胳澊鞝滉卑霅橃棃鞀惦媹雼�.

瓿勳啀靷梾鈥� FY-25 靾橃澋氚� EBITDA (氙戈淡雼煬氚彪)

Dow Jones: 23鞏� 3,100毵� 雼煬靾橃澋 / 5鞏� 8,800毵� 雼煬 EBITDA
霐旍韯� 攵€霃欖偘靹滊箘鞀�: 18鞏� 200毵� / 6鞏� 100毵�
霃勳劀於滍寪: 21鞏� 4,900毵� / 2鞏� 9,600毵�
雺挫姢氙鸽敂鞏�: 21鞏� 7,000毵� / 1鞏� 5,300毵�
旮绊儉: 0 / 鈥�2鞏� 2,300毵�

Dow Jones鞚� 3鞗攡6鞗� 攵勱赴靻岆箘鞛� 歆€響滌棎霐半ゴ氅� WSJ 霐旍韯� 鞝勳毄甑弲鞛愲姅 412.6毵�氇�, 齑� 甑弲鞛� 靾�(鞚胳噭 + 霐旍韯�)電� 626.1毵�氇呾瀰雼堧嫟. REA 攴鸽９鞚� 順胳＜韽劯鞚€ 鞗旐弶攴� 1鞏� 3,200毵� 氚╇鞚� 旮半頄堨溂氅�, AG真人官方tor.com鞚€ 4攵勱赴鞐� 鞗旐弶攴� 7,200毵� 瓿犾湢靷毄鞛愲ゼ氤挫湢頄堨姷雼堧嫟. News UK電� The Times/Sunday Times鞚� 霐旍韯� 甑弲鞛愱皜 64毵� 氇呾澊霛缄碃氤搓碃頄堨溂氅�, News Australia電� 鞐煬臧勴枆氍检棎靹� 99毵� 3觳� 氇呾潣霐旍韯� 甑弲鞛愲ゼ歆戧硠頄堨姷雼堧嫟.

2025雲� 8鞗� 1鞚� 旮办鞙茧 須岇偓電� 3鞏� 7,640毵� 欤检潣韥措灅鞀� A 欤检嫕瓿� 1鞏� 8,850毵� 欤检潣韥措灅鞀� B 欤检嫕鞚� 氚滍枆頄堨姷雼堧嫟. 2024雲� 12鞗� 27鞚� 旮办鞙茧 牍勱硠鞐挫偓氤挫湢鞁滌灔臧€旃橂姅鞎� 140鞏� 雼煬鞓€鞀惦媹雼�.

Positive

Completion of Foxtel sale simplifies the business and removes a non-core asset.
High-margin segments Dow Jones and Digital AG真人官方 Estate generated $1.2 bn of the $1.4 bn total segment EBITDA.
Digital subscriber base reached 6.3 m across Dow Jones consumer products, supporting recurring revenue.

Negative

Other segment posted a $223 m EBITDA loss, weighing on consolidated profitability.
News Media EBITDA margin was only ~7%, illustrating ongoing print and advertising pressure.
Regulatory and competitive risks from data-privacy laws, AI platforms and alternative media are identified throughout the filing.

Insights

TL;DR: Solid segment EBITDA, Foxtel exit streamlines portfolio; limited profit detail restricts earnings view.

The filing highlights an $8.5 bn continuing-revenue base with EBITDA concentration in Dow Jones and Digital AG真人官方 Estate (combined 59% of segment EBITDA). The Foxtel divestiture removes a lower-growth pay-TV asset, sharpening focus on digital subscriptions and property classifieds. However, the Other segment鈥檚鈥�$223 m drag and absence of net income, cash-flow or leverage data leave questions on overall profitability and capital allocation.

TL;DR: Digital scale growing鈥�6.3 m consumer subs plus AI licensing prospects鈥攂ut traditional news units still margin-light.

Dow Jones posted 25% EBITDA margin, leveraging 6 m subs and AI licensing avenues. REA and Move deliver strong traffic leadership, supporting $601 m EBITDA. Book Publishing remained profitable despite market softness. News Media鈥檚 $153 m EBITDA on $2.17 bn revenue underscores print headwinds even with 60% U.K. reach. Competitive pressures from tech platforms and evolving privacy rules remain material.

瓿勳啀靷梾鈥� FY-25 靾橃澋氚� EBITDA (氙戈淡雼煬氚彪)

Dow Jones: 23鞏� 3,100毵� 雼煬靾橃澋 / 5鞏� 8,800毵� 雼煬 EBITDA
霐旍韯� 攵€霃欖偘靹滊箘鞀�: 18鞏� 200毵� / 6鞏� 100毵�
霃勳劀於滍寪: 21鞏� 4,900毵� / 2鞏� 9,600毵�
雺挫姢氙鸽敂鞏�: 21鞏� 7,000毵� / 1鞏� 5,300毵�
旮绊儉: 0 / 鈥�2鞏� 2,300毵�

08/06/2025 - 07:03 AM

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

___________________________________

FORM 8-K

___________________________________

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

August 6, 2025

Date of Report (date of earliest event reported)

___________________________________

Lineage, Inc.

(Exact name of registrant as specified in its charter)

___________________________________


Maryland (State or other jurisdiction of incorporation or organization)	001-42191 (Commission File Number)	82-1271188 (I.R.S. Employer Identification Number)
46500 Humboldt Drive Novi, Michigan 48377
(Address of principal executive offices and zip code)
(800) 678-7271
(Registrant's telephone number, including area code)

___________________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Securities registered pursuant to Section 12(b) of the Act:
Title of each class	Trading Symbol	Name of each exchange on which registered
Common stock, par value $0.01 per share	LINE	Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 - Results of Operations and Financial Condition

On August 6, 2025, Lineage, Inc. (“Lineage”) issued an earnings release (the “Earnings Release”) announcing its results for the quarter ended June 30, 2025. A copy of the Earnings Release is attached as Exhibit 99.1 to this current report on Form 8-K and is incorporated by reference herein.

The information contained in this Item 2.02, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 7.01 - Regulation FD Disclosure

On August 6, 2025, in connection with the issuance of the Earnings Release noted above, Lineage has also made available on its website materials that contain supplemental information about its results for the quarter ended June 30, 2025 (“Earnings Presentation and Supplemental Financial Information”). A copy of the Earnings Presentation and Supplemental Financial Information is attached as Exhibit 99.2 to this current report on Form 8-K, and is incorporated by reference herein.

The information contained in this Item 7.01, including Exhibit 99.2, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or incorporated by reference in any filing under the Securities Act, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 - Financial Statements and Exhibits

(d): The following exhibits are being filed herewith:


Exhibit No.						Description
99.1						Lineage, Inc. Reports Second-Quarter 2025 Financial Results
99.2						Lineage, Inc. Second-Quarter 2025 Earnings Presentation and Supplemental Financial Information
104						Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


Lineage, Inc.
(Registrant)

August 6, 2025						/s/ Robert Crisci
Date						(Signature)
						Robert Crisci
						Chief Financial Officer

Source:

FAQ

How much revenue did News Corp (NWSA) generate in FY-2025 by segment?

Dow Jones $2.33 bn, Digital AG真人官方 Estate $1.80 bn, Book Publishing $2.15 bn, News Media $2.17 bn, Other $0.

When did News Corp complete the sale of Foxtel?

The Foxtel sale closed on 2 Apr 2025 and is treated as a discontinued operation.

What is the size of The Wall Street Journal鈥檚 digital-only subscriber base?

4.126 million digital-only subscriptions on average during Mar-Jun 2025.

How many shares of NWSA and NWS are outstanding?

As of 1 Aug 2025, 376.4 m Class A (NWSA) and 188.5 m Class B (NWS) shares were outstanding.

Which segments produced the highest EBITDA in FY-2025?

Digital AG真人官方 Estate Services ($601 m) and Dow Jones ($588 m) led segment EBITDA.

What market share do News UK titles hold?

Collectively, The Sun, The Times and The Sunday Times represented about one-third of U.K. national newspaper sales.

AG真人官方

[8-K] Lineage, Inc. Reports Material Event

Insights

FAQ

How much revenue did News Corp (NWSA) generate in FY-2025 by segment?

When did News Corp complete the sale of Foxtel?

What is the size of The Wall Street Journal鈥檚 digital-only subscriber base?

How many shares of NWSA and NWS are outstanding?

Which segments produced the highest EBITDA in FY-2025?

What market share do News UK titles hold?

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[8-K] Lineage, Inc. Reports Material Event

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Financial Analyst neutral

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FAQ

How much revenue did News Corp (NWSA) generate in FY-2025 by segment?

When did News Corp complete the sale of Foxtel?

What is the size of The Wall Street Journal鈥檚 digital-only subscriber base?

How many shares of NWSA and NWS are outstanding?

Which segments produced the highest EBITDA in FY-2025?

What market share do News UK titles hold?

NASDAQ:LINE

LINE Rankings

LINE Latest News

LINE Latest SEC Filings

LINE Stock Data