News Corp Announces $2 Billion Stock Buy-Back Program

By Bobby Samwell • Wednesday, August 13 12:13 • Permanent Link

News Corporation has announced a buy-back program for its Class A common stock and Class B common stock. The company may purchase up to an aggregate of US$1 billion under the 2021 Repurchase Program and an additional US$1 billion under the 2025 Repurchase Program. As of the latest notification, the total number of securities bought back is 22,656,065, for a total consideration of US$469,942,089, with the highest price paid being US$30.75 and the lowest price paid being US$14.88. The company has authorized the acquisition of up to an aggregate of US$1 billion of the company’s Nasdaq-listed 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, having purchased approximately US$713,091,280 worth of Class A and Class B shares as of the latest notification. The market has reacted to these announcements by moving the company's shares 1.55% to a price of $28.82. For the full picture, make sure to review NEWS CORP's 8-K report.

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