News Corp Announces $2 Billion Buy-Back Program Update

By Bobby Samwell • Tuesday, October 14 10:34 • Permanent Link

News Corporation has issued an update on its buy-back program, with the total number of securities on issue in the class to be bought back standing at 374,456,068. 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.

As of the most recent notification, the company has bought back a total of 24,861,177 securities and paid a total consideration of US$534,885,984. The highest price paid for securities was US$30.93, while the lowest price paid was US$14.88. Additionally, the company has disclosed an intention to buy back a maximum number of securities and has to date purchased approximately US$810,255,817 worth of Class A and Class B shares under the 2021 Repurchase Program.

This update comes as an amendment to the previous announcement, with the date of the initial notification of buy-back listed as 22/9/2021 and the date of the previous announcement to this update as 10/10/2025. The anticipated date of the buy-back was 22/9/2021, and the date of the current announcement is 13/10/2025.

The buy-back does not require security holder approval, and there are no restrictions on foreign participation in the buy-back. The company has also indicated that the buy-back is being conducted to enhance shareholder value.

The daily buy-back notification has been submitted with details of the previous day's buy-back activity, including the number of securities bought back, the consideration paid, and the highest and lowest prices paid. The broker offering to buy back securities on the entity's behalf is Goldman Sachs & Co. LLC, and the buy-back consideration will be paid in US dollars.

This update reflects the company's ongoing buy-back activities and its commitment to returning value to shareholders through these repurchase programs. Following these announcements, the company's shares moved 1.2%, and are now trading at a price of $26.09. Check out the company's full 8-K submission 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.