News Corporation has announced an update to its buy-back program, with the total consideration paid or payable for the securities amounting to US$437,865,683.36. The highest price paid for the securities was US$30.69 on 19/02/2025, while the lowest price paid was US$14.88 on 29/09/2022. As of the previous day, a total of 21,521,937 securities were bought back, with a remaining authorization of approximately US$660,333,152.89.
The company's buy-back program is for an aggregate of up to US$1 billion of its Nasdaq-listed Class A common stock and Class B common stock. The program is subject to market conditions, the market price of the company’s stock, and other factors.
The total number of securities on issue in the class of securities to be bought back is 373,978,194, and the company may purchase up to an aggregate of US$1 billion of Class A common stock and Class B common stock.
The buy-back is being conducted for a cash consideration in US dollars, and the reason for the buy-back is to enhance shareholder value.
The anticipated date for the buy-back to occur is 22/9/2021, and the broker responsible for offering to buy back securities on the entity’s behalf is Morgan Stanley & Co. LLC.
This update to the buy-back program has been made in accordance with the company’s previous announcement on 22/09/2021, and the date of the current announcement is 14/04/2025. The market has reacted to these announcements by moving the company's shares 1.0% to a price of $26.44. If you want to know more, read the company's complete 8-K report here.
