Goodwill and Intangible Assets, Net

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, 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
Acquisitions(a)	—		10		—		10
Other	—		(2)		—		(2)
Balance, June 30, 2026	$	1,045	$	2,348	$	254	$	3,647


(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, 2026 and 2025.

The 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, 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
Acquisitions(b)	—		—		—		2		2
Amortization and other(c)	(64)		—		(64)		(37)		(101)
Balance, June 30, 2026	$	2,120	$	640	$	2,760	$	110	$	2,870


(a)			Net of accumulated amortization of $477 million and $441 million as of June 30, 2026 and 2025, respectively.
(b)			See Note 3—Acquisitions, Disposals and Other Transactions.
(c)			Primarily related to an impairment charge for FCC licenses for fiscal 2026 and 2025 (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 $37 million, $35 million and $45 million for fiscal 2026, 2025 and 2024, respectively.

Based on the balance of finite-lived intangible assets as of June 30, 2026, the estimated amortization expense for each of the succeeding five fiscal years is as follows:


	For the years ending June 30,
	2027		2028		2029		2030		2031
	(in millions)
Estimated amortization expense(a)	$	36	$	30	$	23	$	14	$	4


(a)			These amounts may vary as acquisitions and dispositions occur in the future.