News Corporation (NWSA) Announces $421M Buy-Back Update

By Tamara Parker • Monday, February 10 10:20 • Permanent Link

News Corporation (ASX issuer code: NWS) has announced an update to its buy-back program, with a total of 20,930,892 securities bought back since the previous announcement. The total consideration paid for these securities amounts to US$421,611,189.37, with the highest price paid reaching US$30.01 and the lowest price paid at US$14.88.

The company's repurchase program aims to acquire up to an aggregate of US$1 billion of its Nasdaq-listed Class A common stock and Class B common stock. To date, approximately US$634,885,664.19 worth of Class A and Class B shares have been purchased based on the total consideration paid.

The announcement also includes the anticipated date of the buy-back, set for 22/9/2021, and states that the buy-back does not require security holder approval, nor are there any restrictions on foreign participation in the buy-back.

These figures reflect the company's ongoing efforts to enhance shareholder value through its buy-back program. Following these announcements, the company's shares moved 1.5%, and are now trading at a price of $29.46. For the full picture, make sure to review News's 8-K report.

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