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 375,267,705, 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 entity has disclosed an intention to buy back a maximum number of +securities and has bought back 20,387,051 securities for a total consideration of US$406,396,232.95. The highest price paid for the securities was US$30.01 on 08/11/2024, while the lowest price paid was US$14.88 on 29/09/2022. The company is authorized to acquire up to an aggregate of US$1 billion of the Company’s Nasdaq-listed Class A common stock and Class B common stock, and to date, the company has purchased approximately US$611,194,228.77 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. These figures represent significant activity in the company's stock repurchase program and demonstrate a substantial financial commitment to the buy-back initiative. The market has reacted to these announcements by moving the company's shares -1.3% to a price of $28.61. For the full picture, make sure to review News's 8-K report.
