News Corp Valuation Overview

News Corp Overview News Corporation ("News Corp" or the "Company") is a global operator of media assets with a diverse revenue mix. $12 Billion Enterprise Value 7.9x Enterprise Value / FY24 EBITDA News Corp Financial Profile News Corp Digital Real Estate Services 15% Subscription Video Services 20% $9.9 Billion FY23 Revenue Book Publishing 20% News Media 23% Dow Jones 22% News Corp owns a highly valuable collection of assets in its portfolio. Source: Public company filings, Capital IQ, Wall Street consensus estimates. Market data as of October 13, 2023. STARBOARD VALUE 2

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