Announcement by News Corp’s Board of Directors on Potential Combination with Fox Corporation

Third quarter results were negatively affected by continued demand weakness, particularly at FedEx Express. In addition, operating income was negatively affected by the effects of global inflation, partially offset by U.S. domestic yield improvement and cost-reduction actions. FedEx Ground operating results improved, primarily due to an 11% increase in revenue per package and cost-reduction actions. These factors were partially offset by lower package volume, higher infrastructure costs and increased other operating expenses. FedEx Freight operating results improved, driven by an 11% increase in revenue per shipment and a gain on the sale of a facility, partially offset by decreased shipments.

The company said it achieved its fastest Prime delivery speeds ever so far this year in the U.S. and around the world, with more than five billion items arriving the same or next day globally — an increase of more than 30% year-over-year, the company said. The majority of the items were delivered on behalf of independent sellers via Fulfillment by Amazon. In a post on its corporate website, Amazon said the speed improvements came primarily from shortening the distance deliveries had to travel to reach customers by regionalizing its fulfillment network. In the first half of 2024, Amazon reduced the distance items traveled between its U.S. sites and the customer by nearly 10% year-over-year.

Who doesn’t feel a rush of joy when they open a handwritten card or letter received in the mail? Many of us rediscovered the simple, yet powerful pleasures of keeping in touch with pen, paper and a postage stamp during the pandemic. Later this month, everyone across America – and around the globe – is invited to send a card, deliver a smile and together create a much-needed wave of happiness during Thinking of You Week. Celebrated September 20 to 26, Thinking of You Week is an international movement to celebrate the joy of sending and receiving hand-written notes and greeting cards. Launched in the United Kingdom in 2014, the celebration was brought to the U.S. by the Greeting Card Association in 2018.