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 total number of securities on issue in the class of securities to be bought back is 375,945,816, and the company may purchase up to an aggregate of US$1 billion of Class A common stock and Class B common stock.
As of the latest notification, the company has bought back a total of 19,515,569 securities, or in relation to which acceptances have been received, with a total consideration paid or payable of US$382,374,719.94. The highest price paid was US$28.61, and the lowest price paid was US$14.88. The company is authorized to acquire up to an aggregate of US$1 billion worth of the company’s Nasdaq-listed Class A common stock and Class B common stock, and to date, the company has purchased approximately US$574,260,657.52 worth of Class A and Class B shares based on total consideration paid.
The anticipated date for the buy-back to occur is 22/9/2021. This announcement follows the company's previous buy-back notification on 5 June 2021, indicating that there has been significant activity in the buy-back program since the last reporting period. The market has reacted to these announcements by moving the company's shares -1.2% to a price of $26.21. For the full picture, make sure to review News's 8-K report.
