News Corporation has announced a buy-back program for its Nasdaq-listed Class A common stock and Class B common stock. The company intends to repurchase, from time to time, in the open market or otherwise, a combination of the Company’s Class A common stock and Class B common stock, with no ASX-listed CDIs to be repurchased in this program.
The total number of +securities on issue in the class of +securities to be bought back is 375,518,773, and the total number of +securities proposed to be bought back is up to an aggregate of US$1 billion of Class A common stock and Class B common stock.
The company has already bought back a total of 22,107,081 +securities, or in relation to which acceptances have been received, with a total consideration paid or payable for the +securities of US$453,939,560.26.
The highest price paid for +securities as part of the buy-back program 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, 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. To date, the company has purchased approximately US$685,683,932.03 worth of Class A and Class B shares (based on total consideration paid).
The anticipated date for the buy-back to occur is 22/9/2021. The market has reacted to these announcements by moving the company's shares 2.99% to a price of $28.24. For more information, read the company's full 8-K submission here.
