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 has purchased approximately US$691,665,828.00 worth of Class A and Class B shares based on total consideration paid.
The total number of securities on issue in the class of securities to be bought back is 375,408,632, with a total number of securities proposed to be bought back up to an aggregate of US$1 billion. The company has bought back 22,238,677 securities for a total consideration of US$457,740,170.19.
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 anticipated date of the buy-back is 22/9/2021.
Morgan Stanley & Co. LLC is the broker who will offer to buy back securities on the company’s behalf. The buy-back is being done for cash consideration in USD.
The reason for the buy-back is to enhance shareholder value. There are no restrictions on foreign participation in the buy-back, and no security holder approval is required. Following these announcements, the company's shares moved 0.44%, and are now trading at a price of $29.74. Check out the company's full 8-K submission here.
