News Corporation (NWS) 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 of each class under the 2021 Repurchase Program and an additional US$1 billion under the 2025 Repurchase Program. As of the notification date, the total number of securities proposed to be bought back is US$1 billion for each program.
The company has bought back a total of 23,215,911 securities on the previous day, with a total consideration of US$486,554,266. The highest price paid for the securities was US$30.75 on 15/07/2025, and the lowest price paid was US$14.88 on 29/09/2022. The remaining number of securities to be bought back as of the end of the previous day is approximately US$738,025,961 worth of Class A and Class B shares under the 2021 Repurchase Program.
The buy-back program is aimed at enhancing shareholder value and does not include the repurchase of ASX-listed CDIs. The anticipated date for the buy-back to occur is 22/9/2021.
Goldman Sachs & Co. LLC has been named as the broker who will offer to buy back securities on the company's behalf. The buy-back requires no security holder approval and there are no restrictions on foreign participation or other conditions that need to be satisfied before the buy-back offer becomes unconditional. The securities are being bought back for cash consideration in US dollars.
These figures and details illustrate the company's proactive approach to returning value to its shareholders through the buy-back program.
Introduced 05/06/21 Following these announcements, the company's shares moved -0.35%, and are now trading at a price of $29.625. Check out the company's full 8-K submission here.
