News Corporation has recently announced a buy-back 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. As of the most recent buy-back notification, the total number of securities bought back or in relation to which acceptances have been received was 18,454,119, with a total consideration paid or payable of US$353,404,935.69.
The highest price paid for the securities was US$27.43 on 04/06/2024, while 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, and to date, the company has purchased approximately US$530,598,971.16 worth of Class A and Class B shares (based on total consideration paid).
These figures indicate a significant amount of activity in the buy-back program, with a substantial portion of the authorized amount already utilized. It will be interesting to see how the program progresses towards its intended target of US$1 billion. Following these announcements, the company's shares moved -0.3%, and are now trading at a price of $27.82. If you want to know more, read the company's complete 8-K report here.
