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 may purchase up to an aggregate of US$1 billion of Class A common stock and Class B common stock. The total number of securities on issue in the class of securities to be bought back is 375,518,773. The company has bought back a total of 22,119,408 securities, or in relation to which acceptances have been received, for a total consideration paid or payable of US$454,285,606.27. 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 remaining number of securities to be bought back as at the end of the previous day is approximately US$313,739,949.22. The anticipated date of the buy-back is 22/9/2021. The reason for the buy-back is to enhance 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 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. No ASX-listed CDIs will be repurchased in this program. The entity has notified ASX of the buy-back on 18/06/2025. The market has reacted to these announcements by moving the company's shares 1.66% to a price of $28.22. If you want to know more, read the company's complete 8-K report here.
