Company: FOX
Filing Date: 2025-08-06
Form Type: 10-K
Source: 0001628280-25-038077
Chunk: 101

Company: Fox Corp
Filing Date: 2025-08-06
Form: 10-K
Item: Item 7
Chunk 101
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 as of June 30, 2025 and an unused five-year $1.0 billion unsecured revolving credit facility (See Note 9—Borrowings to the accompanying Financial Statements). The Company also has access to the worldwide capital markets, subject to market conditions. As of June 30, 2025, the Company was in compliance with all of the covenants under its revolving credit facility, and it does not anticipate any noncompliance with such covenants.

The principal uses of cash that affect the Company’s liquidity position include the following: the acquisition of rights and related payments for entertainment and sports programming; operational expenditures including production costs; marketing and promotional expenses; expenses related to broadcasting the Company’s programming; employee and facility costs; capital expenditures; acquisitions, including redeemable noncontrolling interests; income taxes, interest and dividend payments; debt repayments; legal settlements; and stock repurchases.

In addition to the transactions disclosed within Note 3—Acquisitions, Disposals, and Other Transactions to the accompanying Financial Statements, the Company has evaluated, and expects to continue to evaluate, possible acquisitions and dispositions of certain businesses and assets. Such transactions may be material and may involve cash, the Company’s securities or the assumption of additional indebtedness.

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Sources and Uses of Cash—Fiscal 2025 vs. Fiscal 2024

Net cash provided by operating activities for fiscal 2025 and 2024 was as follows (in millions):

For the years ended June 30,20252024Net cash provided by operating activities$3,324 $1,840 

The increase in net cash provided by operating activities during fiscal 2025, as compared to fiscal 2024, was primarily due to higher Segment EBITDA, principally due to higher political advertising receipts from the 2024 presidential and congressional elections along with receipts from Super Bowl LIX in February 2025, partially offset by higher content payments.

Net cash used in investing activities for fiscal 2025 and 2024 was as follows (in millions):

For the years ended June 30,20252024Net cash used in investing activities$(537)$(452)

The increase in net cash used in investing activities during fiscal 2025, as compared to fiscal 2024, was primarily due to the fiscal 2025 acquisitions (See Note 3—Acquisitions, Disposals, and Other Transactions to the accompanying Financial Statements), partially offset by a decrease in the Company’s investments and capital expenditures.

Net