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 most recent update, the company has purchased approximately US$616,326,002.80 worth of Class A and Class B shares.
The total number of securities on issue in the class of securities to be bought back is 375,125,201, 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 company bought back a total of 20,504,242 securities, or in relation to which acceptances have been received, for a total consideration of US$409,722,238.74. The highest price paid for these securities was US$30.01, and the lowest price paid was US$14.88.
Additionally, the anticipated date for the buy-back to occur is 22/9/2021, and the company has disclosed that no ASX-listed CDIs will be repurchased in this program.
These figures demonstrate the company's active buy-back program and the significant amount of securities already repurchased under the program. The market has reacted to these announcements by moving the company's shares -1.1% to a price of $27.83. For the full picture, make sure to review News's 8-K report.
