News Corp Repurchases $436M in Stocks

By Bobby Samwell • Monday, April 07 15:12 • Permanent Link

News Corporation has provided an update on its buy-back program for its Nasdaq-listed Class A common stock and Class B common stock. The company has repurchased a total of 21,450,977 securities, or approximately US$436,113,039.49 in value, as of the previous trading day.

The highest price paid for the securities was US$30.69 on February 19, 2025, while the lowest price paid was US$14.88 on September 29, 2022. The remaining authorization for buy-back stands at approximately US$342,449,542.99, as the company is authorized to acquire up to US$1 billion worth of the company's common stock.

This update follows the initial notification of the buy-back on September 22, 2021, and the previous announcement to this update was made on April 4, 2025, indicating a continuous effort in the company's buy-back activity.

The total number of securities on issue in the class of securities to be bought back is reported as 374,049,154, with the company proposing to repurchase up to an aggregate of US$1 billion worth of Class A common stock and Class B common stock.

The buy-back is being conducted for cash consideration in USD, with the primary reason cited as enhancing shareholder value. The repurchase program is subject to market conditions and the market price of the company's stock, as well as other factors.

Morgan Stanley & Co. LLC has been named as the broker offering to buy back securities on the company's behalf. No ASX-listed CDIs will be repurchased in this program, according to the announcement.

The company has not disclosed any intention to buy back a minimum number of securities, however, it has indicated that it may purchase up to an aggregate of US$1 billion of Class A common stock and Class B common stock, with no specific price set for the buy-back consideration.

This update provides a snapshot of News Corporation's ongoing buy-back program, showcasing the company's commitment to utilizing its capital for the benefit of its shareholders. The market has reacted to these announcements by moving the company's shares -2.3% to a price of $24.01. If you want to know more, read the company's complete 8-K report here.

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