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 only disclosed concentration exposure sits on the technology-supply side rather than with customers or geography. The company discloses that it depends on a single or limited number of third-party suppliers for certain products, services, data, and information, naming reliance on Amazon Web Services for cloud-based services alongside Google — a high-share dependency exposure. This is a counterparty-specific risk tied to two named infrastructure providers: an outage, contract dispute, or pricing shift at either could disrupt the technology backbone underlying News Corporation's media and information businesses, which lean on outsourced cloud services rather than owned infrastructure. No percentage of spend, revenue, or workload tied to these providers is disclosed, so the exposure cannot be sized precisely, but naming Amazon Web Services and Google directly signals a real, structural dependence on outsourced cloud infrastructure rather than a hypothetical concern. Because this is the sole concentration flagged in the filing — with no customer, product-line, or geographic concentration disclosed alongside it — News Corporation's concentration profile reads as narrower in scope than peers with multiple named exposures, even as this single dependency carries real operational weight given how central cloud infrastructure is to running a modern media company.
For the engine’s reasoning on NWSA’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 |
| NWSA● | 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.