News Corporation has announced its buy-back program for an aggregate of US$1 billion of the company’s Nasdaq-listed Class A common stock and Class B common stock. The company may purchase up to this amount from time to time, subject to market conditions and stock prices. As of the latest notification, the total number of securities bought back or in relation to which acceptances have been received was 21,493,553, with a total consideration paid or payable of US$437,155,053.02. The highest price paid for the securities was US$30.69, while the lowest was US$14.88.
This marks a significant change from the previous period when the total consideration paid or payable for the securities was US$349,642.63. The highest price paid was US$26.34, and the lowest was US$23.62. The company has now purchased approximately US$659,184,186.32 worth of Class A and Class B shares, based on the total consideration paid.
The anticipated date for the buy-back to occur is September 22, 2021. The company has made significant progress in the buy-back program, and the latest figures indicate a substantial increase in the total consideration paid or payable for the securities compared to the previous period. Following these announcements, the company's shares moved -2.5%, and are now trading at a price of $25.53. For the full picture, make sure to review News's 8-K report.
