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 daily buy-back notification on January 16, 2025, the company has bought back a total of 20,711,691 securities and has paid or is payable a total consideration of US$415,448,202.44 for these securities.
The highest price paid for securities during this period was US$30.01 on November 8, 2024, while the lowest price paid was US$14.88 on September 29, 2022. The company has authorization to acquire up to US$1 billion worth of Class A and Class B shares, and to date, it has purchased approximately US$625,222,743.44 worth of shares based on total consideration paid.
The total number of securities on issue in the class of securities to be bought back is 375,420,339, and the company may purchase up to an aggregate of US$1 billion of Class A common stock and Class B common stock.
The anticipated date for the buy-back to occur is September 22, 2021. This buy-back does not require security holder approval, and there are no restrictions on foreign participation. The buy-back is being conducted for cash consideration in US dollars. The reason for the buy-back is to enhance shareholder value. Following these announcements, the company's shares moved -0.1%, and are now trading at a price of $27.48. For the full picture, make sure to review News's 8-K report.
