News Corporation Announces $1 Billion Stock Repurchase Program

By Tamara Parker • Friday, February 16 10:05 • Permanent Link

News Corporation has announced a repurchase program for up to an aggregate of US$1 billion of the Company’s Nasdaq-listed Class A common stock and Class B common stock. The company intends to repurchase, from time to time, in the open market or otherwise, a combination of the Company’s Class A common stock and Class B common stock. No ASX-listed CDIs will be repurchased in this program.

The total number of +securities on issue in the class of +securities to be bought back is 376,311,169, and the total number of +securities proposed to be bought back is up to an aggregate of US$1 billion of Class A common stock and Class B common stock. The Company may purchase up to an aggregate of US$1 billion of Class A common stock and Class B common stock.

The Company's management stated, "The program is intended to enhance shareholder value." The anticipated date of the buy-back will occur on 22/9/2021.

In a recent daily buy-back notification, the total number of +securities bought back, or in relation to which acceptances have been received, is 17,364,741, and the total consideration paid or payable for the +securities is US$325,536,637.29. The highest price paid was US$26.30 on 12/02/2024, and the lowest price paid was US$14.88 on 29/09/2022. The company is authorized to acquire up to an aggregate of US$1 billion of the Company’s Nasdaq-listed Class A common stock and Class B common stock. To date, the company has purchased approximately US$488,883,791.20 worth of Class A and Class B shares (based on total consideration paid).

The company's shares have moved -0.6%, and are now trading at a price of $26.33.

The company's full 8-K submission is available here.

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