News Corporation 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 has already purchased approximately US$539,066,778.37 worth of Class A and Class B shares.

The total number of securities on issue in the class of securities to be bought back is 375,170,268, and the total number of securities proposed to be bought back under this program is up to an aggregate of US$1 billion of Class A common stock and Class B common stock.

The total number of securities bought back, or in relation to which acceptances have been received, on the previous day was 18,659,790, with a total consideration paid or payable for the securities of US$359,014,918.02.

The highest price paid for the securities was US$27.94 on 26/06/2024, and the lowest price paid was US$14.88 on 29/09/2022.

The anticipated date for the buy-back to occur is 22/9/2021.

The buy-back does not require security holder approval, and there are no other restrictions on foreign participation in the buy-back. The reason for the buy-back is to enhance shareholder value. Today the company's shares have moved -0.4% to a price of $27.59. Check out the company's full 8-K submission here.

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