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. As of the most recent daily buy-back notification, the company has bought back a total of 22,169,515 securities for a total consideration of US$455,699,245.68. The highest price paid for securities was US$30.69 on 19/02/2025, while the lowest price paid was US$14.88 on 29/09/2022.
The total number of securities on issue in the class of securities to be bought back is 375,467,867, and the company may purchase up to an aggregate of US$1 billion of Class A common stock and Class B common stock.
The anticipated date of the buy-back is 22/9/2021, and the company has not disclosed an intention to buy back a maximum number of securities, indicating a willingness to continue with the buy-back program.
The company is authorized to acquire up to an aggregate of US$1 billion worth of Class A and Class B shares, and to date, the company has purchased approximately US$688,440,461.03 worth of Class A and Class B shares based on total consideration paid.
Morgan Stanley & Co. LLC is the broker who will offer to buy back securities on the company’s behalf, and the securities are being bought back for a cash consideration in USD.
The reason for the buy-back, as stated by the company, is to enhance shareholder value.
This announcement signifies the company’s commitment to returning value to its shareholders and provides insight into its financial management and capital allocation strategies. As a result of these announcements, the company's shares have moved 0.67% on the market, and are now trading at a price of $29.445. For the full picture, make sure to review NEWS CORP's 8-K report.
