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News Corp (NWSA) Announces $1 Billion Buyback Program

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, 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 375,408,632.

As of the latest notification, the total number of +securities bought back or in relation to which acceptances have been received is 22,284,785, with a total consideration paid or payable for the +securities of US$459,102,186.67. The highest price paid for on-market buy-back is US$30.69, and the lowest price paid is US$14.88.

The company has disclosed an intention to buy back a maximum number of +securities and 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$693,847,401.63 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. This announcement represents a significant change from the previous period and demonstrates the company's commitment to enhancing shareholder value. Following these announcements, the company's shares moved 0.9%, and are now trading at a price of $29.655. For more information, read the company's full 8-K submission here.

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