News Corp invests $1 billion in buy-backs

By Hao Liu • Monday, July 28 15:51 • Permanent Link

News Corporation has provided an update on its buy-back program, with the total number of securities proposed to be bought back under the 2021 and 2025 Repurchase Programs amounting to an aggregate of US$1 billion each. As of the latest notification, the total number of securities bought back or in relation to which acceptances have been received stands at 22,448,295, with a total consideration paid or payable of US$463,909,765.36.

The highest price paid for securities in the buy-back program was US$30.75, while the lowest price paid was US$14.88. Notably, the company has disclosed an intention to buy back a maximum number of securities and, as of the end of the previous day, has purchased approximately US$701,400,115.60 worth of Class A and Class B shares under the 2021 Repurchase Program.

These figures reflect the ongoing activity and financial commitment of News Corporation to its buy-back program, indicating the company's strategic approach to capital management and shareholder value enhancement. Following these announcements, the company's shares moved -0.39%, and are now trading at a price of $29.415. Check out the company's full 8-K submission here.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.