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 latest notification, the total number of securities on issue in the class of securities to be bought back is 375,388,083. The company may purchase up to an aggregate of US$1 billion of Class A common stock and Class B common stock.
The total number of securities bought back or in relation to which acceptances have been received is 20,318,440, with a total consideration paid or payable for the securities of US$404,382,935.53. The highest price paid for securities was US$30.01, and the lowest price paid was US$14.88.
As of the latest notification, the company has purchased approximately US$608,059,430.78 worth of Class A and Class B shares based on total consideration paid. The anticipated date for the buy-back is 22/9/2021.
The buy-back does not require security holder approval, and there are no restrictions on foreign participation in the buy-back. The buy-back is being conducted for a cash consideration, and the reason for the buy-back is to enhance shareholder value.
These figures indicate the progress of the repurchase program and provide insights into the company's investment in its own securities. Today the company's shares have moved -0.7% to a price of $29.32. Check out the company's full 8-K submission here.
