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PRESS RELEASES


NEWS CORP COMPLETES ACQUISITION OF BASE CHEMICALS

June 1, 2022

The following press release was issued by News Corp on June 1, 2022

New York, NY – (June 1, 2022) – News Corp announced that it has completed the
acquisition of the Base Chemicals business from S&P Global Market Intelligence.

The business will operate under the name Chemical Market Analytics by OPIS, a
Dow Jones company.  News Corp acquired OPIS (the Oil Price Information Service)
and related assets from S&P Global and IHS Markit in February.

Base Chemicals has a strong track record of growth, with a revenue base that is
nearly 100% digital and recurring, and, similar to OPIS, has high margins with
modest Capex requirements.

News Corp is acquiring Base Chemicals for $295 million in a cash transaction,
subject to customary adjustments, and follows the UK Competition and Markets
Authority request that IHS Markit divest Base Chemicals and OPIS as part of the
S&P Global and IHS Markit merger. S&P Global and IHS Markit completed their
merger in February.  In connection with the Base Chemicals acquisition, News
Corp expects to receive a step up in tax basis resulting in an annual deduction
over the next 15 years with an estimated tax benefit of approximately $46
million on a present value basis.

“Base Chemicals, together with OPIS, will substantially extend the reach and
strength of Dow Jones’ news and information capabilities in commodities, where
the desire for data, analysis and insight is burgeoning, especially in energy,
renewables, chemicals and related fields,” said Robert Thomson, Chief Executive
of News Corp.  “Dow Jones will capitalize on the appetite for trusted and
accurate information for years to come, and we also see strong cross-sell and
upsell potential using the potent Wall Street Journal, Investor’s Business Daily
and MarketWatch audiences as a premium pool for customer leads.  We are also
delighted that the acquisitions of both Base Chemicals and OPIS came at a
distinctly favorable price.”

Almar Latour, Chief Executive Officer of Dow Jones and Publisher of The Wall
Street Journal said: “The business and teams we are welcoming to our company
today have built one of the most trusted sources of information and analysis
across the global chemical value chain. This knowledge and expertise is an
excellent companion to OPIS, enabling us to expand into new customer segments as
we continue to lay the foundations for our new energy, chemicals and
sustainability vertical. Our collective skills and strengths, especially our
shared legacies of providing trusted, rigorous information, open up a wide range
of growth opportunities for Dow Jones.”

“We are very excited to welcome the talented team at Chemical Market Analytics
to the Dow Jones family,” said Brian Crotty, general manager for OPIS. “Uniting
Chemical Market Analytics’ deep expertise and trusted reputation with Dow Jones’
global reach will enable us to deliver deeper and richer information and
analysis to our customers. We look forward to the impact we’ll have together.”

Base Chemicals is known for its pricing data, insights, analysis and forecasting
capabilities for the world’s most important base chemicals delivered through its
leading Market Advisory and World Analysis services.

By becoming part of Dow Jones’ professional information business, it is expected
Base Chemicals will benefit from Dow Jones’ expertise in news, research and
events. Similarly, Base Chemicals’ rich analysis and forecasting capabilities
provide opportunities for Dow Jones to enhance pricing, data and news solutions.

In its most recent fiscal year, ended November 30, 2021, Base Chemicals
generated approximately $65 million in revenues. Base Chemicals’ revenues are
geographically diverse, with more than 1,700 customers across a wide range of
industries, and approximately 185 employees.

News Corp reported its FY 2022 Third Quarter results on May 5, 2022; the company
had record third quarter revenues and profitability.  Also in Q3, Dow Jones
reported its highest third quarter revenue since its acquisition with 16%
growth.  The Dow Jones professional information business grew 13%, reflecting
robust growth in Risk & Compliance and the inclusion of one month of OPIS
results.

Gibson, Dunn & Crutcher LLP served as legal counsel for News Corp in the
transaction.

###

Forward-Looking Statements

This release contains forward-looking statements based on current expectations
or beliefs, as well as assumptions about future events, and these statements are
subject to factors and uncertainties that could cause actual results to differ
materially from those described in the forward-looking statements. The words
“expect,” “estimate,” “anticipate,” “predict,” “believe,” “potential” and
similar expressions and variations thereof are intended to identify
forward-looking statements. These statements appear in a number of places in
this release and include statements with respect to, among other things, the
potential benefits from the acquisition of Base Chemicals and OPIS. Readers are
cautioned that any forward-looking statements are not guarantees of future
performance and involve risks and uncertainties. Many factors could cause actual
results to differ materially from those described in these forward-looking
statements. The forward-looking statements in this release speak only as of this
date and News Corp and Dow Jones undertake no obligation (and expressly disclaim
any obligation) to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise, except as
required by law.

About News Corp

News Corp (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV) is a global, diversified media
and information services company focused on creating and distributing
authoritative and engaging content and other products and services. The company
comprises businesses across a range of media, including: digital real estate
services, subscription video services in Australia, news and information
services and book publishing. Headquartered in New York, News Corp operates
primarily in the United States, Australia, and the United Kingdom, and its
content and other products and services are distributed and consumed worldwide.
More information is available at: https://www.newscorp.com.




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