News Corp Authorizes Additional $1 Billion Stock Buy-Back Program

By Bobby Samwell • Tuesday, September 23 10:19 • Permanent Link

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

As of the recent notification, the total number of securities on issue in the class of securities to be bought back was 375,203,540. 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 has already bought back a significant number of securities, with a total of 24,056,995 securities bought back before the previous day. The total consideration paid or payable for these securities amounts to US$511,414,405. Additionally, the highest price paid for the securities was US$30.86, and the lowest price paid was US$14.88.

Moreover, 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$775,000,682 worth of Class A and Class B shares (based on total consideration paid) under the 2021 Repurchase Program.

The buy-back program is intended to enhance shareholder value and does not include any intention to repurchase ASX-listed CDIs. The anticipated date for the buy-back to occur was 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. The buy-back does not require security holder approval, and there are no restrictions on foreign participation in the buy-back. No other conditions need to be satisfied before the buy-back offer becomes unconditional.

The data from this notification indicates a substantial amount of stock has already been repurchased under the program, with significant funds deployed for this purpose. The buy-back program's progress and the company's continued authorization for repurchasing additional shares demonstrate a strong commitment to returning value to its shareholders. Today the company's shares have moved 0.62% to a price of $30.81. If you want to know more, read the company's complete 8-K report here.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.