News Corp Announces $1B Stock Buyback Program

News Corporation has provided an update on its buy-back program, reporting a significant change in the metrics since the last announcement. The company announced its intention to repurchase up to an aggregate of US$1 billion of its Nasdaq-listed Class A common stock and Class B common stock.

The total number of securities on issue in the class to be bought back is 376,238,855, and the company may purchase up to an aggregate of US$1 billion of Class A common stock and Class B common stock.

As of the last notification, the total number of securities bought back or in relation to which acceptances have been received is 17,434,361, and the total consideration paid or payable for the securities is US$327,367,830.40. The highest price paid for the securities was US$26.68, and the lowest price paid was US$14.88.

The company had previously disclosed an intention to buy back a maximum number of securities, and as of the end of the previous day, the remaining number of securities to be bought back is approximately US$508,385,901.01 worth of Class A and Class B shares based on the total consideration paid.

These figures indicate a substantial change in the company's buy-back program metrics since the last announcement, reflecting the company's ongoing commitment to returning value to its shareholders and optimizing its capital structure. As a result of these announcements, the company's shares have moved -0.3% on the market, and are now trading at a price of $26.36. For more information, read the company's full 8-K submission here.

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