News Corporation Announces $1 Billion Stock Repurchase Program

By Bobby Samwell • Friday, August 30 15:14 • Permanent Link

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 may purchase up to an aggregate of US$1 billion of Class A common stock and Class B common stock, with an announcement date of August 30, 2024.

The total number of +securities on issue in the class of +securities to be bought back is 376,142,867, and the total number of +securities proposed to be bought back is up to an aggregate of US$1 billion of Class A common stock and Class B common stock.

The entity intends to buy back a maximum number of securities, with the maximum number proposed to be bought back being up to an aggregate of US$1 billion of Class A common stock and Class B common stock.

The buy-back consideration will be paid in US Dollars, with the price to be paid for +securities bought back being unknown at this time.

As of the previous day, a total of 19,300,174 +securities were bought back or in relation to which acceptances have been received, with a total consideration paid or payable for the +securities of US$376,620,135.86.

The highest price paid for on-market buy-back was US$28.61, occurring on July 16, 2024, while the lowest price paid was US$14.88, occurring on September 29, 2022.

The company has so far purchased approximately US$565,494,769.86 worth of Class A and Class B shares, based on total consideration paid. The anticipated date for the buy-back to occur is September 22, 2021. Today the company's shares have moved 1.2% to a price of $28.18. For more information, read the company's full 8-K submission here.

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