News Corp Buys Back $1 Billion in Securities

By Philip Seaworth • Monday, June 16 15:21 • Permanent Link

News Corporation has provided an update on its buy-back program, with the total number of securities proposed to be bought back being up to an aggregate of US$1 billion of Class A common stock and Class B common stock. As of the previous day, a total of 22,093,955 securities were bought back, with a total consideration of US$453,579,504.89 paid.

The highest price paid for the securities was US$30.69, with the lowest price being US$14.88. This indicates a significant range in the prices at which the securities were acquired.

The company has disclosed its intention to buy back a maximum number of securities, with the remaining number of securities to be bought back as at the end of the previous day being approximately US$314,860,540.74 worth of Class A and Class B shares.

These figures provide a snapshot of the company's buy-back activity and the significant amount of capital being allocated to this initiative. Today the company's shares have moved -0.9% to a price of $27.42. For the full picture, make sure to review NEWS CORP's 8-K report.

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