Updated
The most significant concentration News discloses is Amazon Web Services and Google, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
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Source: News’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
“10-K Item 1A: 'The Company's businesses depend on a single or limited number of third-party suppliers for certain products, services, data and information ... relies on Amazon Web Services to supply cloud-based services'”
News Corporation's disclosed concentration risk is a technology-infrastructure dependency rather than a customer or geographic exposure. The company states that its businesses depend on a single or limited number of third-party suppliers for certain products, services, data, and information, and specifically relies on Amazon Web Services to supply cloud-based services, alongside Google — a high-share dependency exposure. This is an idiosyncratic, counterparty-specific risk: an outage, pricing change, or contract dispute with either cloud provider could disrupt operations across News Corporation's portfolio of media and information businesses, which increasingly run on outsourced cloud infrastructure rather than on owned data centers. Because the filing does not quantify the share of workloads, revenue, or cost tied to these providers, the practical magnitude is difficult to size, but the qualitative disclosure signals real operational reliance rather than a remote or theoretical risk. With no customer, product, or geographic concentration disclosed alongside it, this cloud-infrastructure dependency stands as the company's singular flagged concentration exposure — narrower in scope than peers with multiple named concentrations, but one where the counterparties (Amazon Web Services and Google) are named directly rather than described only in general terms.
For the engine’s reasoning on NWS’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| AMC | AMC Entertainment Holdings, Inc | 2 | 0 | 0 | 2 |
| NWS● | News Corporation | 1 | 0 | 0 | 1 |
| AMCX | AMC Global Media Inc. | 0 | 2 | 0 | 2 |
| BATRA | Atlanta Braves Holdings, Inc. - | 0 | 1 | 0 | 1 |
| BATRK | Atlanta Braves Holdings, Inc. - | 0 | 1 | 0 | 1 |
| ANGX | Angel Studios, Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.