News Corporation Class B - NWS STOCK NEWS

Bloomington, Illinois, is ranked as the top market for first-time home buyers in realtor.com®'s 2021 analysis, with a median home price of $160,000. The Midwest dominates the list, with four out of the top ten cities, including Iowa City and Kalamazoo. The study highlights a competitive housing market, exacerbated by a 50% decrease in available homes compared to last year. Many first-time buyers struggle with down payments, as revealed by a survey showing 44% haven't saved enough. The analysis considered factors like affordability, job opportunities, and local demographics.

S&P Global Market Intelligence announced a partnership with Dow Jones to enhance its platform with trusted real-time market news. This collaboration will provide S&P Global customers access to premium content from Dow Jones Newswires, *The Wall Street Journal*, *Barron's*, and *MarketWatch*. The integration aims to improve user experience and support clients in making informed decisions. Content will be available as part of subscription plans later this year, reflecting S&P's commitment to delivering superior services in a rapidly evolving market landscape.

News Corporation is offering $750 million in Senior Notes due 2029 in a private placement, subject to market conditions. The funds will be used for general corporate purposes, including potential acquisitions and working capital. The offering is made under the Securities Act, specifically targeting qualified institutional buyers and non-U.S. persons. The Notes will not be registered under the Securities Act, limiting their sale within the U.S. This press release is not an offer to sell or solicit the purchase of these Notes.

According to realtor.com®'s Monthly Housing Trends Report, home buyers face a challenging spring market with 50% fewer homes for sale compared to last year, coupled with record-high prices and rising mortgage rates. The median listing price hit $370,000, a 15.6% increase year-over-year. Inventory decreased 52% nationally, with markets like Austin experiencing a 72.7% drop. While some sellers are expected to enter the market, increasing interest rates may slow price gains. Homes are selling faster, averaging 54 days on the market.

On March 29, 2021, Houghton Mifflin Harcourt (HMH) announced the divestiture of its consumer publishing business, HMH Books & Media, to HarperCollins Publishers for $349 million. This strategic move allows HMH to concentrate on K–12 education and enhance its digital sales, recurring revenue, and free cash flow, while significantly reducing debt. HMH has updated its 2021 outlook, projecting billings between $905 million and $955 million and a free cash flow margin of 9% to 11%. The transaction is expected to close in Q2 2021, subject to regulatory approvals.

News Corp has agreed to acquire the Houghton Mifflin Harcourt Books & Media segment for $349 million in cash. HMH Books & Media features a robust backlist with over 60% of its 2020 revenues, totaling $191.7 million, generated from these titles. The acquisition will be managed by HarperCollins Publishers, which anticipates over $20 million in annual cost savings and increased revenue synergies. The deal is expected to close by Q4 of fiscal 2021, enhancing HarperCollins’s children's and young adult market presence.

According to a recent survey by realtor.com, homeownership remains a key aspiration for millennials, despite challenges such as rising prices and limited inventory. The HarrisX survey of over 800 prospective first-time buyers revealed that 59% aspire to homeownership primarily for investment purposes. Many are searching for over a year, with 44% citing insufficient down payment funds as a barrier. Notably, location is the top desired feature among buyers, while 53% anticipate competition in the housing market. This underscores the ongoing struggle for potential homeowners amid growing demand and limited supply.

The U.S. housing market has thrived amid the pandemic, with realtor.com®'s Housing Market Recovery Index reaching 101.6 as of March 6, 2021. Median listing prices surged by 14.3% year-over-year, while new listings fell 27% compared to the previous year. Overall active inventory dropped by 51%. Despite strong demand, a limited supply continues to challenge the market dynamics. Chief Economist Danielle Hale indicates that while the demand remains robust, rising mortgage rates may test buyer interest, particularly as the vaccine rollout could encourage more sellers to enter the market.