News Corporation has announced a repurchase program for up to an aggregate of US$1 billion of its Nasdaq-listed Class A common stock and Class B common stock. The company has already bought back a total of 22,054,577 securities, or in relation to which acceptances have been received, as of the previous trading day. The total consideration paid or payable for the securities amounts to US$452,482,950.97.
The highest price paid for the securities during the buy-back period was US$30.69 on 19/02/2025, while the lowest price paid was US$14.88 on 29/09/2022. The company is authorized to acquire up to an aggregate of US$1 billion of the company’s Nasdaq-listed Class A common stock and Class B common stock, and to date has purchased approximately US$683,423,885.82 worth of Class A and Class B shares based on the total consideration paid.
The anticipated date for the buy-back to occur is 22/9/2021. This announcement comes as part of a repurchase program aimed at enhancing shareholder value, and the company may purchase up to an aggregate of US$1 billion of Class A common stock and Class B common stock.
Morgan Stanley & Co. LLC has been named as the broker or brokers who will offer to buy back securities on the entity’s behalf. The securities being bought back are for a cash consideration in US dollars. The market has reacted to these announcements by moving the company's shares 0.72% to a price of $27.96. For the full picture, make sure to review NEWS CORP's 8-K report.
