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 company has already purchased approximately US$672,733,527.93 worth of Class A and Class B shares. The total number of securities proposed to be bought back is not specified, but the company may purchase up to an aggregate of US$1 billion of Class A common stock and Class B common stock.
The company has disclosed that 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. The total consideration paid or payable for the securities is US$445,730,229.15, and the total number of securities bought back, or in relation to which acceptances have been received, is 21,813,972.
The anticipated date of the buy-back is 22/9/2021, and the company intends to buy back the securities for a cash consideration in USD. The buy-back is aimed at enhancing shareholder value. The buy-back does not require security holder approval, and there are no restrictions on foreign participation in the buy-back. The company has appointed Morgan Stanley & Co. LLC as the broker who will offer to buy back securities on the company’s behalf. Following these announcements, the company's shares moved -0.21%, and are now trading at a price of $28.22. If you want to know more, read the company's complete 8-K report here.
