News Corporation has announced a significant increase in its share repurchase program. The company may now repurchase up to an aggregate of US$1 billion of its Nasdaq-listed Class A common stock and Class B common stock, up from the initial authorization of US$1 billion as of September 21, 2021. Additionally, as of July 15, 2025, an additional US$1 billion has been authorized for repurchase. The company intends to repurchase these shares from time to time in the open market or otherwise, subject to market conditions and other factors.
As of the latest notification, the total number of securities proposed to be bought back under the 2021 and 2025 Repurchase Programs stands at approximately US$767,693,017. The total consideration paid or payable for the securities bought back is US$506,507,945, with the highest price paid being US$30.75 and the lowest being US$14.88.
The buy-back program is intended to enhance shareholder value, and the company has indicated that no ASX-listed CDIs will be repurchased in these programs.
The company has also provided details regarding the anticipated date of the buy-back, which is set for September 22, 2021. Goldman Sachs & Co. LLC has been named as the broker who will offer to buy back securities on the entity's behalf.
This increase in the share repurchase program reflects the company's confidence in its financial position and its commitment to delivering value to shareholders. Today the company's shares have moved 0.89% to a price of $30.50. Check out the company's full 8-K submission here.
