News Corp Announces $1B Buyback Program

By Tamara Parker • Friday, September 06 15:16 • 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 has already purchased approximately US$567,347,264.63 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 376,072,033, 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 daily buy-back notification indicates that on the previous day, a total of 19,344,445 +securities were bought back, or in relation to which acceptances have been received, for a total consideration paid or payable of US$377,850,019.97.

The highest price paid for the +securities during the buy-back was US$28.61, while the lowest price paid was US$14.88.

The anticipated date for the buy-back to occur is 22/9/2021, and the company has stated that the buy-back is intended to enhance shareholder value. Today the company's shares have moved -1.0% to a price of $26.67. Check out the company's full 8-K submission here.

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