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 daily buy-back notification on November 14, 2024, the company has repurchased a total of 9,922,667 securities, totaling US$199,944,450.41. The highest price paid for these securities was US$32.71 on November 8, 2024, and the lowest price paid was US$15.17 on September 29, 2022.
The total number of securities on issue in the class of securities to be bought back is 159,437,871, and the company may purchase up to an aggregate of US$1 billion of Class A common stock and Class B common stock.
The Company intends to repurchase, from time to time, in the open market or otherwise, a combination of the Company’s Class A common stock and Class B common stock, subject to market conditions and the market price of the Company’s stock, as well as other factors.
The anticipated date for the buy-back to occur is September 22, 2021. The company has also disclosed an intention to buy back a maximum number of securities and, as of the previous day, had approximately US$599,267,078.86 worth of Class A and Class B shares remaining to be purchased, based on the total consideration paid to date. Following these announcements, the company's shares moved 0.6%, and are now trading at a price of $29.3. If you want to know more, read the company's complete 8-K report here.
