News Corporation has provided an update on its buy-back program, stating that as of the most recent daily buy-back notification, the company had bought back a total of 19,922,382 securities for a total consideration of US$393,057,227.37. The highest price paid for securities was US$28.61, while the lowest price paid was US$14.88.
The company's buy-back program, which applies to both Class A common stock and Class B common stock, has an aggregate value of US$1 billion. To date, News Corporation has purchased approximately US$590,622,105.79 worth of Class A and Class B shares based on the total consideration paid.
The latest notification of the buy-back, issued on 28th October 2024, indicates that the buy-back program has been active, with a significant amount of securities repurchased since the previous announcement on 22nd September 2021.
This update reflects the company's ongoing commitment to enhancing shareholder value through the repurchase of its own securities in the open market or otherwise, subject to market conditions and stock prices. As a result of these announcements, the company's shares have moved 0.8% on the market, and are now trading at a price of $26.2. For the full picture, make sure to review News's 8-K report.
