News Corporation has announced a buy-back program for its Class A and Class B common stock. The company has authorized an aggregate of US$1 billion for the 2021 Repurchase Program and an additional US$1 billion under the 2025 Repurchase Program. As of July 15, 2025, the company has purchased approximately US$748,060,171 worth of Class A and Class B shares under the 2021 Repurchase Program.
The total number of securities on issue in the class of securities to be bought back is 375,475,749. On the previous day, the company bought back 23,440,763 securities for a total consideration of US$493,208,739, at a highest price of US$30.75 and a lowest price of US$14.88.
The company intends to buy back a maximum number of securities, and the remaining number of securities to be bought back as of the end of the previous day is approximately US$1 billion.
The anticipated date for the buy-back to occur is 22/9/2021. The buy-back does not require security holder approval, and there are no restrictions on foreign participation in the buy-back. The buy-back offer is being made for cash consideration, and the price to be paid for securities bought back is in USD.
The reason for the buy-back is to enhance shareholder value. The company has also disclosed that Goldman Sachs & Co. LLC will offer to buy back securities on the entity’s behalf.
This buy-back announcement signifies the company's commitment to returning value to its shareholders and reflects its confidence in its financial position and future prospects. Today the company's shares have moved -0.48% to a price of $28.7123. If you want to know more, read the company's complete 8-K report here.
