News Corp is investing heavily in building its own in-house ad tech capabilities rather than relying solely on external partners for several key reasons: 1) Having internal experts allows News Corp to optimize its header bidding setup and tech stack in real-time to keep control and maximize revenue while balancing page speed and user experience. 2) Building proprietary identity solutions like News IQ Network allows News Corp to better understand user behavior and connections across its properties to improve audience targeting and insights. 3) Developing in-house analytics capabilities provides more comprehensive data and visibility into pricing and audience performance than external partners to optimize deals and inform future programmatic buys. While partnerships are useful, News Corp believes internal capabilities are important for