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. As of the most recent notification, the company has bought back a total of 18,717,814 securities, or approximately US$360,615,456.39 in consideration paid. The highest price paid for the securities was US$27.94 on 26/06/2024, while the lowest price paid was US$14.88 on 29/09/2022.
The total number of securities on issue in the class of securities to be bought back is 375,096,930, with the company authorized to purchase up to an aggregate of US$1 billion worth of Class A common stock and Class B common stock. To date, the company has acquired approximately US$541,452,288.23 worth of Class A and Class B shares.
The anticipated date for the buy-back to occur is 22/9/2021, and the entity has confirmed that the securities are being bought back for a cash consideration, with the price to be paid for the securities bought back being in US dollars.
Furthermore, the company has disclosed that the buy-back does not require security holder approval and that there are no restrictions on foreign participation in the buy-back. As a result of these announcements, the company's shares have moved 0.1% on the market, and are now trading at a price of $27.66. For the full picture, make sure to review News's 8-K report.
