News Corporation Announces $1 Billion Stock Repurchase Program

By Bobby Samwell • Friday, March 21 18:42 • Permanent Link

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 373,785,095, and 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 21,297,356, with a total consideration paid or payable for the +securities of US$431,959,499.09. The highest price paid for the +securities was US$30.69, and the lowest price paid was US$14.88.

As of the previous day, the company has purchased approximately US$651,088,268.92 worth of Class A and Class B shares based on total consideration paid. Following these announcements, the company's shares moved -0.4%, and are now trading at a price of $27.04. For more information, read the company's full 8-K submission here.

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