News Corporation Authorizes $2 Billion Stock Buy-Back Program

By Hao Liu • Thursday, September 18 10:20 • Permanent Link

News Corporation has announced its buy-back program for its Nasdaq-listed Class A common stock and Class B common stock. The company has authorized a repurchase program for up to an aggregate of US$1 billion of the company’s stock as of September 21, 2021. As of July 15, 2025, an additional US$1 billion has been authorized for the repurchase program.

The total number of securities on issue in the class of securities to be bought back is 375,479,691, and the company may purchase up to an aggregate of US$1 billion of 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.

The company does not intend to buy back a minimum number of securities, but it does intend to buy back a maximum number of securities. The maximum number of securities proposed to be bought back is up to an aggregate of US$1 billion.

The buy-back offer is being made for cash consideration, and the price to be paid for the securities bought back is in US dollars. The company has mentioned that the reason for the buy-back is 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. Additionally, there are no other conditions that need to be satisfied before the buy-back offer becomes unconditional.

As for key dates, the anticipated date of the buy-back is September 22, 2021.

In the most recent daily buy-back notification, the total number of securities bought back or in relation to which acceptances have been received is 23,895,727, with a total consideration paid or payable for the securities of US$506,507,945. The highest price paid for the securities was US$30.75, and the lowest price paid was US$14.88.

The company is authorized to acquire 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. To date, the company has purchased approximately US$767,693,017 worth of Class A and Class B shares under the 2021 Repurchase Program. The market has reacted to these announcements by moving the company's shares 1.68% to a price of $30.23. If you want to know more, read the company's complete 8-K report here.

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