News Corp. Announces $1 Billion Stock Repurchase Program

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.

As of the latest notification, the total number of securities bought back or in relation to which acceptances have been received is 17,903,732, with a total consideration paid or payable of US$339,580,643.74. The highest price paid for securities was US$27.09, while the lowest price paid was US$14.88.

In total, the company has purchased approximately US$509,880,446.72 worth of Class A and Class B shares (based on total consideration paid) as of the end of the previous day. This reflects a significant portion of the authorized repurchase amount of US$1 billion.

The anticipated date for the buy-back to occur is 22/9/2021. This indicates that the company plans to continue the repurchase program over the coming months.

These figures demonstrate the company's ongoing commitment to enhancing shareholder value through the repurchase program. Following these announcements, the company's shares moved -2.3%, and are now trading at a price of $24.34. If you want to know more, read the company's complete 8-K report here.

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