NEWS CORP Authorizes $2 Billion Buy-Back Program

By Hao Liu • Tuesday, August 26 12:04 • Permanent Link

News Corporation (ASX: NWS) has announced an update on its buy-back program. The company has authorized a repurchase program for up to an aggregate of US$1 billion of its Nasdaq-listed Class A common stock and Class B common stock as of September 21, 2021. As of July 15, 2025, an additional US$1 billion has been authorized under the 2025 Repurchase Program. The company may purchase a combination of its Class A common stock and Class B common stock from time to time, subject to market conditions and the market price of the company’s stock.

The total number of securities on issue in the class of securities to be bought back is 375,750,555, with a total number of securities proposed to be bought back of up to an aggregate of US$1 billion under the 2021 Repurchase Program and an aggregate of US$1 billion under the 2025 Repurchase Program.

The company has bought back a total of 23,162,155 securities, or in relation to which acceptances have been received, with a total consideration paid or payable for the securities of US$484,923,820 as of the previous day. The highest price paid was US$30.75, while the lowest price paid was US$14.88.

As of the last notification, the company has purchased approximately US$735,508,103 worth of Class A and Class B shares (based on total consideration paid) under the 2021 Repurchase Program.

The anticipated date for the buy-back to occur is September 22, 2021, and the company has disclosed that the buy-back is intended to enhance shareholder value.

The buy-back does not require security holder approval, and there are no restrictions on foreign participation in the buy-back. Furthermore, there are no other conditions that need to be satisfied before the buy-back offer becomes unconditional.

Goldman Sachs & Co. LLC will offer to buy back securities on the company’s behalf, and the securities will be bought back for a cash consideration in US dollars.

These details provide a comprehensive overview of News Corporation's buy-back program and its progress since the last period. The market has reacted to these announcements by moving the company's shares -1.18% to a price of $30.14. If you want to know more, read the company's complete 8-K report here.

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