| Goodwill and Intangible Assets, Net |
GOODWILL AND INTANGIBLE ASSETS, NETThe changes in the carrying values of the Company’s intangible assets and related accumulated amortization were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Intangible assets not subject to amortization | | Amortizable intangible assets, net(a) | | Total intangible assets, net | | | FCC licenses | | Other | | Total | | | | (in millions) | Balance, June 30, 2023 | $ | 2,250 | | | $ | 642 | | | $ | 2,892 | | | $ | 192 | | | $ | 3,084 | | | Amortization and other | — | | | — | | | — | | | (46) | | | (46) | | Balance, June 30, 2024 | $ | 2,250 | | | $ | 642 | | | $ | 2,892 | | | $ | 146 | | | $ | 3,038 | | Acquisitions(b) | — | | | — | | | — | | | 33 | | | 33 | | Amortization and other(c) | (66) | | | (2) | | | (68) | | | (34) | | | (102) | | Balance, June 30, 2025 | $ | 2,184 | | | $ | 640 | | | $ | 2,824 | | | $ | 145 | | | $ | 2,969 | |
| | | | | | (a) | Net of accumulated amortization of $441 million and $405 million as of June 30, 2025 and 2024, respectively. | (b) | See Note 3—Acquisitions, Disposals and Other Transactions. | (c) | Includes an impairment charge (See Note 2—Summary of Significant Accounting Policies under the heading “Goodwill and Other Intangible Assets”). |
Amortization expense related to finite-lived intangible assets was $35 million, $45 million and $74 million for fiscal 2025, 2024 and 2023, respectively. Based on the balance of finite-lived intangible assets as of June 30, 2025, the estimated amortization expense for each of the succeeding five fiscal years is as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the years ending June 30, | | | 2026 | | 2027 | | 2028 | | 2029 | | 2030 | | | (in millions) | Estimated amortization expense(a) | $ | 37 | | | $ | 35 | | | $ | 29 | | | $ | 22 | | | $ | 14 | |
| | | | | | (a) | These amounts may vary as acquisitions and dispositions occur in the future. |
The changes in the carrying value of goodwill, by reportable segment and Corporate and Other, were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | Cable Network Programming | | Television | | Corporate and Other | | Total Goodwill | | | (in millions) | Balance, June 30, 2023 | $ | 1,059 | | | $ | 2,246 | | | $ | 254 | | | $ | 3,559 | | Other | (15) | | | — | | | — | | | (15) | | Balance, June 30, 2024 | $ | 1,044 | | | $ | 2,246 | | | $ | 254 | | | $ | 3,544 | | Acquisitions(a) | 1 | | | 89 | | | — | | | 90 | | Other | — | | | 5 | | | — | | | 5 | | Balance, June 30, 2025 | $ | 1,045 | | | $ | 2,340 | | | $ | 254 | | | $ | 3,639 | |
| | | | | | (a) | See Note 3—Acquisitions, Disposals and Other Transactions. |
The carrying amount of Television segment goodwill was net of accumulated impairments of $371 million as of June 30, 2025 and 2024.
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