News Corporation has announced an amendment to its previous buy-back notification, providing an update on its buy-back program. The company's buy-back program, which was initially authorized 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 September 21, 2021 (the "2021 Repurchase Program"), has been further extended, with an additional US$1 billion authorized as of July 15, 2025 (the "2025 Repurchase Program").
As of the latest update on July 16, 2025, the total number of securities on issue in the class of securities to be bought back stands at 375,081,398. The company may purchase up to an aggregate of US$1 billion of Class A common stock and Class B common stock under the 2021 Repurchase Program and an aggregate of US$1 billion under the 2025 Repurchase Program.
The buy-back does not require security holder approval and is not subject to any restrictions on foreign participation.
On the previous day, a total of 22,356,879 securities were bought back, with a total consideration of US$461,197,547.01. The highest price paid for the securities was US$30.69, while the lowest price paid was US$14.88.
To date, the company has purchased approximately US$697,138,255.73 worth of Class A and Class B shares (based on total consideration paid) under the 2021 Repurchase Program.
The company has indicated that the buy-back is being conducted to enhance shareholder value.
The anticipated date for the buy-back to occur is September 22, 2021.
Morgan Stanley & Co. LLC has been named as the broker who will offer to buy back securities on the entity's behalf.
As a result of these announcements, the company's shares have moved 0.61% on the market, and are now trading at a price of $29.85. Check out the company's full 8-K submission here.
