Fiscal 2022 First Quarter Key Financial Highlights: *Revenues were $2.50 billion, an 18% increase compared to $2.12 billion in the prior year, driven by growth across key segments *Net income of $267 million compared to $47 million in the prior year *Total Segment EBITDA was $410 million compared to $268 million in the prior year *Reported EPS were $0.33 compared to $0.06 in the prior year – Adjusted EPS were $0.23 compared to $0.08 in the prior year *Digital Real Estate Services segment revenues grew 47%, driven primarily by strong yield and demand at both REA Group and Move, operator of realtor.com® *Dow Jones saw its highest first quarter revenue and profitability since its acquisition *Book Publishing segment revenues grew 19%, benefiting from the HMH acquisition and continued strong consumption patterns *Subscription Video Services Segment EBITDA grew 46% as Foxtel’s streaming products reached approximately 2.1 million paid subscribers, up 69% compared to the prior year *News Media segment revenues grew 18%, benefiting from the rebound in the advertising market, strong digital subscriber gains and new content licensing revenues from recent news payment agreements with major tech platforms *Announced a $1 billion stock repurchase program and the termination of the Stockholder Rights Agreement

Hearst announced today that it has completed its transaction with Rodale to acquire the company’s global health and wellness brands. In addition to the U.S. editions and digital expressions, the newly-acquired brands publish 62 print editions and 57 websites in 31 countries. The acquisition adds complementary health and wellness titles to Hearst’s diversified portfolio of magazine brands, encompassing 20 titles in the U.S. and nearly 300 editions and websites around the world. The announcement was made by Hearst President and CEO Steven R. Swartz and Hearst Magazines President David Carey. Terms were not disclosed. Concurrent with the close, Penguin Random House purchased the assets of Rodale Books.

While none of the major New York City publishers who took part in PW’s survey about their efforts to return employees to their Manhattan headquarters had fixed plans, no companies said they expected to begin bringing staff back in a meaningful way before Sept. 1. For the most part, they see the week of Labor Day as a target, but acknowledged that date may not be realistic. Several said they see a limited reopening coming after Labor Day (which is September 7 this year). PW sent a brief questionnaire to all of the Big Five trade houses plus Abrams, Houghton Mifflin Harcourt Books & Media, Kensington, Norton, Scholastic, and Workman. While all said there are too many uncertainties about the future course of the virus to make final plans, there was consensus around some issues. There was widespread agreement that the top consideration before publishers will fully reopen will be the condition of New York City’s mass transit and how comfortable workers will be using subways, buses, and trains. Several publishers said they plan to stagger work hours, something that has been recommended by New York City officials to ease overcrowding during usual rush hours.