News Corporation Increases Buy-Back Program with $340M Spent

News Corporation has announced an update to its buy-back program, with a notable increase in the total number of securities bought back and the total consideration paid for these securities. The company has bought back a total of 17,919,103 securities, as compared to the previous period's 15,371. The total consideration paid or payable for the securities amounts to US$339,963,487.70, a significant increase from the previous amount of US$375,851.69.

The highest price paid for the securities was US$27.09, which was recorded on 11/03/2024, while the lowest price paid was US$14.88, noted on 29/09/2022. It's also worth noting that 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, of which approximately US$510,441,168.46 worth of Class A and Class B shares have been purchased to date.

This update indicates a significant increase in the company's buy-back activities, with a substantial rise in both the number of securities bought back and the total consideration paid. As a result of these announcements, the company's shares have moved -0.4% on the market, and are now trading at a price of $24.25. For more information, read the company's full 8-K submission here.

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